Firms turn to debt collectors to recover dues

A British debt collection agency, based in the UAE, says the United Kingdom construction industry accounts for the largest segment of its client list in the UAE in 2009.

Financial Solutions has been appointed to recover outstanding amounts by more than 100 UK companies compared to the 15 firms it had on its books eight months ago. The company said it is pursuing in excess of £15 million (Dh90m) on behalf of these companies.

With an increase in construction disputes, the firm says its list includes construction companies, designers and architects alongside companies from the logistics, manufacturing, recruitment and other industries.