Shoosmiths has been named Legal Recovery Firm of the Year at the prestigious Credit Today Debt Collection Awards.

The national law firm’s debt recovery team beat competition from four other finalists.

Nine judges looked for evidence of success in criteria including excellent financial results, innovation, customer/client satisfaction, a responsible approach to debt collection, and adherence to regulatory best practice and guidelines.

In its submission, Shoosmiths was able to demonstrate strong recovery rates across a variety of clients, including a builders’ merchant, leading radio station, and a tool hire company.

Director of debt recovery Richard Gwynne said: “In the current economic climate, our ability to recover outstanding monies as quickly and as cost effectively as possible, has contributed considerably to the achievement of these results.

“Having those achievements recognised with this award is hugely gratifying, and testament to the hard work and dedication of the team.”

Gwynne collected the award at a ceremony attended by around 500 industry professionals, at Manchester’s Palace Hotel.

Shoosmiths finished ahead of category rivals Bell Park Kerridge, Brethertons, Incasso, and Spratt Endicott Solicitors.

Now in their fifth year, the Debt Collection Awards are the only awards celebrating the achievements of debt collection enforcement, debt purchase and tracing professionals. Other categories include debt collection agencies, debt purchasers, and enforcement and compliance teams.