Menzies LLP, a top 20 UK accountancy firm, has become the Chartered Institute of Credit Management’s newest Corporate Partner to increase the visibility of its Creditor Services team to CICM members, as well as promoting its services to the wider credit management profession.
The Menzies Creditor Services team advises creditors on the best way to protect a business’ position when a business or individual enters, or is approaching insolvency proceedings – acting in a variety of cases, from a straightforward single asset bankruptcy or owner-managed liquidation, through to large, complex cases that may involve detailed forensic investigations, and international jurisdictions.
Bethan Evans, Head of Menzies Creditor Services team, says that Menzies aims to help CICM members, and the businesses they work for, to improve financial outcomes: “We have extensive industry and insolvency sector experience and expert insights,” she says. “Our Creditor Services offering aims to support credit managers and reduce the administrative burden upon them when something goes wrong. Ultimately we want to improve their financial outcome and simplify what can be a daunting process. We will help navigate the paperwork by reviewing and analysing all insolvency and other related correspondence, completing and lodging claim forms, proxy forms and monitoring dividend prospects – to name a few.
“As well as this, our dedicated team of specialists can also help with retention of title claims, recovering debt, both within the UK and internationally, raising finance, financial restructuring and providing representation at creditors meetings to guide, inform and support our clients. Our team will collaborate with CICM members in order to ensure any areas for investigation are reviewed to maximise the chances of a return to them.”
Menzies has seven offices across the UK, with the Creditor Services team operating out of London and Cardiff. Its Creditor Services offering is an initiative launched by Menzies Business Recovery which consists of seven insolvency practitioners and over 40 corporate recovery professionals. Menzies is also an active member of HLB International – a global network of independent advisory and accounting firms – which provides Menzies with access to specialist support in over 150 countries worldwide. This elevates their Creditor Services capability when it comes to dealing with international disputes, recovering international debt, and providing other forensic services internationally such as investigations into fraudulent trading, unlawful dividends and asset tracing.
Sue Chapple, Interim Chief Executive of CICM, is delighted to welcome Menzies as a corporate partner: “It is our first Accountancy firm to join the other partners who are all committed to advancing the credit profession and best practice with in the credit industry,” says Sue.
“We are currently working with Menzies to identify a programme of events and packaged information that will add the most value to our membership. We look forward to announcing a number of activities across the year which will include round table events and webinars.”