Credit, Collections & Insolvency News
Duff & Phelps has appointed Chris Coley as Managing Director, further strengthening its Global Restructuring Advisory practice. Coley, who will be based in London, joins Duff & Phelps after nine years at FTI Consulting within the firm’s Corporate Finance and Restructuring practice, in both London and Singapore. He had previously trained within the corporate restructuring…
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Customers took advantage of record low rates and increasing product flexibilities to access £3.92 billion of property wealth in 2019 despite a cautious economic climate, according to year-end market figures from the Equity Release Council, the sector trade body. The market has witnessed steady growth in the space of a decade, with the amount accessed…
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Business Insolvencies can be expected to continue to rise in the UK, up 7% or higher in 2020 following Brexit’s confirmation (on Friday 31st January) according to predictions by Atradius. Atradius says, we can expect to see a rise in business failures throughout most of Europe, albeit at a more moderate rate. Insolvencies in the…
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New Money management app HyperJar commissioned a survey of 500 UK adults this week (20th January), which asked questions about current attitudes to money, debt and loans. The findings showed that just 11 per cent agree with the statement that ‘the UK has a healthy relationship with personal finances’. 54 per cent believe the government, business…
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The number of companies that entered insolvency in Northern Ireland during the run-up to Christmas is significantly up on last year. There were 114 company insolvencies in the final three months of 2019. It represents a 56.2 per cent rise in company insolvencies compared with the same quarter in 2018. Some 79 were cases of…
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Regulator, the Institute of Chartered Accountants in England and Wales (ICAEW) has issued a £925,000 fine to the administrators involved in the collapse of electrical goods retailer Comet. ICAEW has fined Deloitte £925,000, plus costs, for failings in its procedures relating to the administration of the company in 2012. ICAEW found that Deloitte’s client take-on…
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