Credit, Collections & Insolvency News
A new report from the Centre for Social Justice (CSJ) makes a “powerful case” for the need for a Government Debt Management Bill, according to the Money Advice Trust, the charity that runs National Debtline and Business Debtline. The CSJ’s newly-published report, ‘Collecting dust: A path forward for government debt collection’ outlines how central and…
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Colin Haig, Restructuring Partner at BDO, has been appointed President of R3, the insolvency and restructuring trade body. Haig takes over from Duncan Swift, Corporate Advisory Services Partner at Moore UK, who has just completed his year-long term as R3’s President. Haig, who has over 40 years’ experience as an insolvency practitioner, will work with…
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Fraud prevention service has highlighted some of the latest coronavirus scams and warned that the public need to stay vigilant of the ever-changing tactics that scammers are using to extract money and information. Business owners have recently been targeted by emails purporting to be from the Chief Executive of HMRC. Under the heading ‘HM Revenue…
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The British Business Bank has announced that it has approved four new lenders for accreditation under the Coronavirus Business Interruption Loan Scheme (CBILS), which provides financial support to smaller businesses (SMEs) across the UK that are losing revenue and seeing their cashflow disrupted, as a result of the Covid-19 outbreak. The new CBILS lenders are…
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Latest figures from the Registry Trust indicate that the number and total value of judgments registered against Irish businesses more than doubled in Q1 (January-March) 2020 compared to the same quarter last year, The figures show that Irish businesses owed €3,826,317 in Q1 2020, a rise of 134% compared to the same period of 2019.…
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Latest figures from the Registry Trust indicated that the total number of consumer debt judgments in Ireland dropped five percent in Q1 (January-March) when compared to Q1 2019. The total value of registered debt owed by consumers in Q1 2020 was €25,947,064, compared to €28,440,399 in Q1 2019, a fall of nine percent. The average…
Read moreThe number of judgments against businesses in Northern Ireland. fell 27 percent in the last quarter. Total and average values rose by 38 and 89 percent respectively. There fewer cases consisting of larger value. The total value of Northern Irish business judgments reached almost the £1 million mark this quarter. Businesses owed 24 percent of…
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The number of judgments against Northern Ireland consumers increased by 4.6 percent in Q1 (January-March) 2020 compared to the same period last year, from 1,411 to 1,476, according to figures released today by Registry Trust. But the amount owed in judgment debt by Northern Irish consumers fell from just under £5 million to £3.2 million,…
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County Court Judgments (CCJs) against businesses England and Wales fell six percent in Q1 (January-March) 2020, compared to the same quarter in 2019, according to figures released by Registry Trust. The number of CCJs against businesses decreased from 35,781 in Q1 2019 to 33,520 in Q1 2020. The total value of judgments saw an increase…
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The number of County Court Judgments (CCJs) issued against consumers fell 16 percent in Q1 (January-March) 2020 compared to the same period last year, according to figures released by Registry Trust. The number is down from 321,281 in Q1 2019, to 269,249 this quarter. The number of consumer judgments in England & Wales issued this…
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Ahead of the second reading of the Finance Bill on today (27th) April, Duncan Swift, President of insolvency and restructuring trade body R3, has called on the Government to scrap proposals to make HMRC a preferential creditor in insolvencies. R3 says that there has been widespread concern that the proposals will have a significant negative…
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