TRADE CREDIT INSURANCE AND SURETY 2017 acqueslaw.com
ONE NETWORK, ONE STANDARD MULTIPLE JURISDICTIONS The World’s Trade Credit Insurance & Surety Law Network | acqueslaw.com
ACQUES is a Multi-jurisdictional, Global Network of Highly Experienced Law Firms Created to Service The Legal Advisory Needs of Trade Credit and Surety Insurers The World’s Trade Credit Insurance & Surety Law Network | acqueslaw.com
BACKGROUND • Discussions held in 2016 by an informal group of law firms on preliminary network concept for the trade credit insurance (TCI) and surety segments. • Concept created by Stephen Polczynski, Managing Partner of Polczynski Lawyers • John Rumpler joined the group and provided subsequent assessment and led discussions on the concept of a network • Discussions held with sample of target clients to ensure the ultimate sales and value proposition of a co-ordinated global service proposition • Focus - a dedicated network of legal firms meeting the needs of trade credit and surety insurers, whether they are global or regional multi-jurisdictional players or one country focused local providers The World’s Trade Credit Insurance & Surety Law Network | acqueslaw.com Trade Credit Insurance & Surety 2017 P4
CONTEXT • A $23 billion pa premium market in TCI and Surety • 250 private insurers, consisting of 10 globals, 15 regionals and hundreds of one country focused local players plus 100+ public sector ECA’s • Hundreds of legal firms service insurers across 150+ markets • Most of these are local firms in each market with limited cross border knowledge and experience • Variable service and inconsistency in what insurers receive • No-one has a co-ordinated wide multi-jurisdictional offer • A few of the global law firms do offer some multi market coverage but its more by accident than intent The World’s Trade Credit Insurance & Surety Law Network | acqueslaw.com Trade Credit Insurance & Surety 2017 P5
THE ACQUES LAW NETWORK The World’s Trade Credit Insurance & Surety Law Network | acqueslaw.com
WE OFFER ONE NETWORK, ONE STANDARD, MULTIPLE JURISDICTIONS • Member firms have developed enviable reputations for excellence in their field • Our focus is to further build on that experience with consistent approach, delivery and outcomes within each market and across borders and jurisdictions GLOBAL REPRESENTATION • Quality specialist & top tier law firms in 67 jurisdictions • Members licensed in all 50 states in the USA • Widening representation and membership over coming period • Members within each continent can facilitate introductions to quality local firms in dozens of additional markets where we presently don’t have a formal network representation. This applies across Europe, Africa, Middle East, Asia and Latin America. The World’s Trade Credit Insurance & Surety Law Network | acqueslaw.com Trade Credit Insurance & Surety 2017 P7
WE OFFER ADVISORY & LEGAL SOLUTIONS • Find the best bespoke solution for our client’s needs in each matter • Proven ability to deliver the right advice on a timely basis STRONG GOVERNANCE • Strategic framework to co-ordinate The Network • Board – members from Australia, Dubai, UK and USA The World’s Trade Credit Insurance & Surety Law Network | acqueslaw.com Trade Credit Insurance & Surety 2017 P8
TRADE CREDIT INSURANCE SERVICES • Advisory in relation to bespoke and boilerplate policy wording, endorsement, coverage, wording and documentation • Ensuring security and title interests are perfected and registered across multi- jurisdictional and/or national boundaries • Acting on behalf of the insurers and their insured’s in relation to: • Substantial debt recovery claims • Retention of title claims • Pursuing directors of failed companies – insolvent trading claims and breach of fiduciary duty claims • Defending unfair preference claims and fraudulent transaction claims • General advisory in relation to larger or more complex corporate collapses in Trade Credit Insurance and Surety/Bonding matters • Acting for the insurers in defending Trade Credit Insurance claims in dispute The World’s Trade Credit Insurance & Surety Law Network | acqueslaw.com Trade Credit Insurance & Surety 2017 P9
SURETY SERVICES • Advisory in relation to bespoke and boilerplate deeds of indemnity/facility agreements to be used in special and mainstream client situations • Advisory in relation to larger or more complex corporate collapses in surety/bonding matters • Advisory for the surety provider in relation to bond calls and how to effect recoveries from securities and guarantees provided to them • Investigations and recoveries • Bond facility application wording reviews • Advisory in relation to conditional and unconditional bond forms and undertakings • Standard and non-standard deed of Indemnity agreements • Loss minimisation and risk management The World’s Trade Credit Insurance & Surety Law Network | acqueslaw.com Trade Credit Insurance & Surety 2017 P10
THE NETWORK, MEMBERS The World’s Trade Credit Insurance & Surety Law Network | acqueslaw.com
MEMBER SELECTION AND PROGRESS All prospective members must • Demonstrable capability/experience in insurance and/or insolvency segments in their local market • Commit to our mentoring and training regime to ensure consistency and quality Many members of the Network already do a considerable amount of work for insurers in legal advisory of larger, complex trade credit claims and surety bond call matters in several markets. We bring experience, track record, governance and a commitment to consistency The World’s Trade Credit Insurance & Surety Law Network | acqueslaw.com Trade Credit Insurance & Surety 2017 P12
CURRENT FORMAL MEMBERS Country Member Australia Polczynski Lawyers Canada Goldman Sloan Nash & Haber Colombia Gamboa & Acevedo Abogados Denmark Kirk Larsen & Ascanius, Copenhagen Finland Nordia Germany Achsnick Pape Opp Rechtsanwaltsgesellschaft mbH Greece Karytinos & Partners Italy Studio Corno – Avvocati Nigeria Lexavier Partners Norway Nordia Poland Kancelaria Prawnicza Waliszewski Jeliński sp j Singapore Yeo-Leong & Peh LLC South Africa Frese Moll and Partners Sweden Nordia Switzerland BADER GNEHM & PARTNER UAE Afridi & Angell UK Simons Muirhead & Burton USA OLSHAN FROME WOLOSKY LLP USA Riney Packard LLC USA Nexsen Pruet USA Betts, Patterson & Mines, P.S. USA Hill Farrer & Burrill The World’s Trade Credit Insurance & Surety Law Network | acqueslaw.com Trade Credit Insurance & Surety 2017 P13
MEMBER REPRESENTATION & EXPANSION AIM • 10 members in original concept stage in 2016 • Grown to 18 at initial launch • Now presently at 22 members and can introduce clients to 20+ other legal representatives/firms across many other countries • Expect approx 25-30 members by end 2017 • Expect 35+ members by end 2018 • Goal is to be represented in 80+ markets by 2022 Rigorous appraisal and marketing plan to target jurisdictions not covered and identify right member partners We welcome clients identifying and recommending potentially suitable firms The World’s Trade Credit Insurance & Surety Law Network | acqueslaw.com Trade Credit Insurance & Surety 2017 P14
WHY ACQUES • A quality reliable one stop shop for legal advisory assistance on policy/facility matters and in particular on larger or more complex trade credit and surety claims in all markets • An on the ground solution across the globe to help you get the best loss minimisation outcomes in claims situations • Highly sophisticated knowledge of the TC and Surety markets • Collaborative in achieving commercial results • Deliver solutions to complex legal issues The World’s Trade Credit Insurance & Surety Law Network | acqueslaw.com Trade Credit Insurance & Surety 2017 P15
ACQUES is a Multi-jurisdictional, Global Network of Highly Experienced Law Firms Created to Service The Legal Advisory Needs of Trade Credit & Surety Insurers The World’s Trade Credit Insurance & Surety Law Network | acqueslaw.com Trade Credit Insurance & Surety 2017 P16
QUESTIONS The World’s Trade Credit Insurance & Surety Law Network | acqueslaw.com
CONTACTS JOHN RUMPLER CEO/Executive Director ACQUES Law Network M. +61 419 700 608 T. +61 2 9234 1504 jrumpler@acqueslaw.com Contact list of all members available to hold discussions of both a general nature and specific matters can be found on www.acqueslaw.com The World’s Trade Credit Insurance & Surety Law Network | acqueslaw.com Trade Credit Insurance & Surety 2017 P18
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