Credit, Collections & Insolvency News
The Chartered Institute of Credit Managers (CICM) has issued a warning following publication of responses to the Review of the Corporate Insolvency Framework. The publication has prompted fears from the credit community that failing businesses may now be disproportionately protected at the expense of their creditors. Philip King, Chief Executive of the Chartered Institute of Credit…
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A new report suggests that a failure to address financial difficulty in the main NHS talking therapies programme is holding back the recovery of tens of thousands of people with depression and anxiety. A quarter of people with ‘common’ mental health conditions like depression or anxiety are also in problem debt, which is likely to be holding…
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Motormile Finance UK Limited, a debt purchase and collections firm, has entered into an agreement with the Financial Conduct Authority (FCA) to provide redress to more than 500,000 customers for historic failures in its due diligence and collections process. The firm had inadequate systems and controls over due diligence. In particular, it failed to conduct sufficient…
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Petitions have been issued and advertised in the London Gazette on the following: 09247972 LIMITED 2012 ADVOCATES LIMITED 21ST CENTURY CONSTRUCTION LIMITED A & D ROBINSON INVESTMENTS LIMITED A & S GLAZING SERVICES LIMITED A.C.E.E.I LTD A.M. CONTRACTORS CONSTRUCTION SERVICES LIMITED AARON ENGINEERING LIMITED AB SOUTH CONSTRUCTION LTD ABBEYLANDS TRANSPORT LIMITED ABBFAB ENGINEERING LIMITED ACCOUNTING…
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Appointment of Administrators Notices – October 2016 Administration notices have been issued and advertised in the London Gazette for the following companies: 3 C’S LOGISTICS LIMITED AFOD LIMITED AIC STEEL LIMITED AKULA FURNITURE LIMITED AMF SYSTEMS LTD ANDEVA UNDERWRITING AGENCY LIMITED ANDREW PAGE LIMITED ASCOT CABLE LTD ATRUL REALISATIONS LIMITED AUM CARE LIMITED BANK CHARGE REFUNDS LIMITED…
Read moreUlster Bank has been fined 3.3 million (£3 million) by Ireland’s financial watchdog over breaches of money laundering and terrorist financing rules. The Central Bank said its inquiries uncovered significant failings in Ulster Bank’s procedures practices over six years from July 2010. It said its inquiries uncovered significant failings in Ulster Bank’s procedures but no money…
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New proposals made by HMRC risk innocent businesses that unknowingly get caught up in VAT frauds being heavily fined, says UHY Hacker Young. HMRC plans to fine businesses up to 30% of the VAT due, and to ‘name and shame’ them for trading with companies that commit VAT fraud, even if they were unaware of…
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