At a time when the domestic market is shrinking in terms of the number of High Court writs being issued, it is more important than ever for enforcement companies to seek to build strong working relationships with potential clients and creditor organisations based abroad.
For a long time now Shergroup has believed that cultivating links with such groups based on the continent, through regular dialogue and appearing at foreign conferences and exhibitions, would bear fruit in terms of attracting work from overseas creditors. That belief is now transforming itself into a reality.
Following on from Shergroup Policy Advisor Chris Bell's presentation at the EUREGEX enforcement conference in Leipzig, Germany in May 2011, a number of potential foreign clients expressed an interest in using EUREGEX - Germany's leading information agency for worldwide address tracing and international debt recovery and enforcement - to trace debtors who owed money in Germany but who had absconded abroad. Having traced those debtors, EUREGEX would then look to have those debtors pursued via the courts and enforcement channels in the country they had moved to, through a network of trusted legal and enforcement service providers.
Amongst the organisations who expressed an interest in pursuing their debts in this way were some of Germany's leading banks, credit agencies and health insurance providers.
And thanks to the work in cultivating those links, the work has now started to flow, with Shergroup receiving via EUREGEX their first batch of cases - from a major German bank - where debtors who have fled Germany owing in some cases considerable sums of money have been traced to England, and who will now be pursued by Shergroup - via debt collection methods or through litigation and either court based enforcement or a High Court writ - for the monies they owe.
This is a clear vindication of Shergroup's approach to opening channels with counterparts overseas and we hope that in future this source of work will continue to expand. It is also a clear indication of the trust that is being placed in us by some major European financial institutions - a trust that we will do our utmost to justify.
EUREGEX - the European Register Experts - can be contacted at www.euregex.eu
