1 An Introduction to Lavelle Coleman Presenter: Justin Nevin Date: Friday, 26th July 2013

“Lavelle Coleman fields an ‘excellent’ and ‘responsive’ team”. About Lavelle Coleman 2 What we do: European Legal 500: 2012 Edition Lavelle Coleman is one of Dublin’s top 15 law firms which was established in The firm’s solid reputation for professionalism and client service is based on excellent legal expertise and consistent delivery of a high calibre of service. Lavelle Coleman operates across a full range of legal practice areas, both contentious and non- contentious. Our clients include State Authorities, financial institutions, international firms, property developers and private clients operating in both Ireland and other jurisdictions. Our focus is on providing consistently high quality legal services to clients across the firm.

Fast Facts 3 Firm established in Partners and 60 staff Considerable experience in Commercial Litigation, Insolvency and Debt Recovery Clients range across financial institutions, State Authorities, international firms and property developers, SMEs and private clients Full service law firm Established reputation.

What others say about us 4 Source:Recommendation European Legal 500: 2012 Edition “Lavelle Coleman fields an ‘excellent’ and ‘responsive’ team”. European Legal 500: 2011 Edition “Lavelle Coleman delivers ‘pragmatic advice’ but is ‘not OTT on fees”. European Legal 500: 2010 Edition “Lavelle Coleman is ‘nothing short of top class”. Awarding BodyAward Irish Institute of Credit ManagementLitigation Specialist of the Year

Banking & Financial Services Corporate & Commercial Commercial Property Commercial Litigation & Dispute Resolution Debt & Asset Recovery Employment Law Insolvency & Corporate Restructuring Tax Our Service Areas 5 Corporate & Commercial Practice Areas

6 Our Clients Include

International Partnerships 7 Lavelle Coleman is the Irish Partner of Consulegis, an international network of law firms, accountants and tax experts. Through our membership we have access to a professional network of firms when our clients are collecting debt internationally.

What is Debt Counselling? 8 Our Debt Counselling Service focuses on engaging with the borrower to provide them with a realistic opportunity to either recommence payments or to enter into a more suitable payment plan. In many cases, this will serve as an alternative to Court proceedings and will also substantially reduce the costs incurred by both the Credit Union and the borrower. Lavelle Coleman’s Debt Counselling Service can also be offered by the Credit Union before the borrowers’ account falls into arrears. For example, if a borrower approaches the Credit Union as they are unable to meet their obligations under their credit agreement, they may be referred to the debt counselling service. A repayment plan can then be drawn up to ensure future payments in relation to specific accounts.

Debt Counselling vs Litigation 9 Low CostCan result in high & unknown costs 12 month processCan be drawn out for a number of years Frees up Credit Unions resourcesOften requires clients input at various stages Maintains relationship with memberCan lead to a breakdown in relationship between Credit Union & member Portrays a good public image for Credit Union Credit Unions’ name will be listed publically in Court Provides borrower with a chance to get back on track Usually last chance and can be stressful on borrower Provides Credit Unions with a level of understanding as to why the borrower has fallen into arrears and can assist when making future credit decisions. Provides very little information on the borrower and why they have fallen into arrears No hidden costsUnexpected costs can arise Low cost way of outsourcing credit controlCredit control can take up a large amount of employees resources

How it works 10 Lavelle Coleman’s Debt Counselling Service is made up of a number of steps designed to assist the borrower in getting back on track with their repayments. These steps will result in the gathering up of as much information as possible about the borrower to assist the Credit Union in comprehending why the particular borrower has fallen into arrears and facilitate future decisions of the board members.

Steps in Debt Counselling Service 11 Client Instruction Client Instruction 1 Introductory Letter Introductory Letter Follow up Telephone Call Follow up Telephone Call Standard Financial Statement Standard Financial Statement Further Information Request Further Information Request

Steps in Debt Counselling Service 12 Initial Proposal/Recommendation Initial Proposal/Recommendation 6 Written Agreement Account Monitored for 12 Months Monthly report provided to client listing all accounts

Possible Outcomes / Issues 13 Debtor continues with weekly/monthly repayment for a continuous 12 month period- Account then handed back to Credit Union Counselling service shows that borrower has no means by which to clear the outstanding balance Debtor does not respond to any correspondence Debtor refuses to enter debt counselling process Unable to deliver correspondence to borrower Debtor has moved address

Solutions 14 If the borrower is shown to have no means, information can be provided that may assist them e.g MABS, Citizens Information, specialised accountants Lavelle Coleman employs a number of professional trace agencies who have a very high success rate and will provide a detailed report on each borrower. Reports can include not only information regarding their postal address but also a lifestyle report which will help in assessing the borrowers particular situation In circumstances were a debtor refuses to enter the counselling process debt litigation may be the only option. Lavelle Coleman has one of the countries biggest and most successful debt litigation departments.

Why Choose Lavelle Coleman 15 Efficient service at low cost Large qualified team of Solicitors, Legal Executives, QFA’s and support staff Accountancy support through FMB Chartered Accountants Access to professional and discreet tracing agents Proven track record Results

Our Team 16 Michael Lavelle, Managing Partner Michael Lavelle, Managing Partner, is a senior and founding partner of Lavelle Coleman. He has focused on the areas of commercial law and commercial litigation as his preferred areas of practice, with an expertise in insolvency. Michael also advises on company and commercial disputes. Gráinne Dever Partner Grainne Dever is a Partner in Lavelle Coleman’s Commercial Litigation team. Her expertise primarily focuses on debt recovery and mortgage litigation. Grainne and her team act for a number of lending institutions Paul McMahon, Partner Paul McMahon practises in the area of banking and finance, property and construction. He also heads our England and Wales practice. Paul has extensive experience in acting for bank and financial institutions in relation to a wide range of security, banking and financial services issues. Justin Nevin, Legal Executive Justin is a Legal Executive in our debt collection team. Justin manages a large portfolio of private debt collection clients as well as acting on behalf of a number of the country’s main financial institutions. Justin is currently working towards obtaining the QFA qualification