Credit, Collections & Insolvency News
Former Chief Bankruptcy Registrar, Stephen Baister, will join Moon Beever solicitors in November. Baister is a highly-respected figure in the insolvency industry. A former solicitor and insolvency practitioner, he practised as a litigator specialising in insolvency and financial litigation, much of it for German clients. He was appointed as a Bankruptcy Registrar of the High Court in…
Read moreOfgem has today updated the level of the prepayment price cap, or safeguard tariff, which will cut bills for around 3 million households by up to £19 a year based on typical consumption. The change, which takes effect on 1 October, will reduce the level from about £1,067 to £1,048 for a dual fuel prepayment…
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The FCA’s thematic review on early arrears management in unsecured lending has painted a varied picture across the industry in relation to the treatment of individuals in arrears. Indeed, various organisations are now calling for a “breathing space” which would see customers given a grace period from which to start to put their finances back…
Read moreNon-Standard Finance has announced that it has agreed to acquire George Banco from its existing shareholders for an enterprise value of £53.5million, payable in cash. Completion is expected in September 2017 and the acquisition is expected to be earnings enhancing in the first full year following completion. Having launched in April 2014, George Banco has grown rapidly…
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Debt Management specialist Fairpoint Group has entered administration. In an announcement to the London Stock Exchange, Fairpoint Group Plc said it could no longer manage the £1m annual rent for the company’s head office. The company has given reassurances about the future of its legal services business, which employs more than 500 people across the UK,…
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