Delta Legal – Individual Voluntary Arrangement

The challenge

• Claimant personal injury firm entering an IVA following market reforms.
• Required a compliant external run-off of its live caseload.

Recovery First’s role

• Managed the external run-off alongside FRP Advisory.
• Allocated files across specialist panel firms.
• Monitored the project from start to finish.
• Managed accounting and recovery throughout the life of the run-off.

The results

• 123.7% of estimated WIP recovered.
• 49% of matters concluded successfully.
• £1.5m realised from an estimated £1.2m WIP.
• Alternative offer of £150k significantly outperformed.