Credit, Collections & Insolvency News
Artificial intelligence (AI), machine learning and robotic process automation (RPA) are key concepts and strategic elements of the future of credit and risk management, enabling us to make smarter analyses, make risk-free decisions and acquire more new, quality business. And automating decisions can do wonders today: algorithms maximise profit margins while filtering out fraud and…
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Latest figures from the Insolvency Service have indicated that personal insolvency numbers across England & Wales fell by 14% in May 2021. Personal insolvencies numbers fell to 8,482 when compared to April’s figure of 9,864, and were 38.7% lower than May 2020’s figure of 13,838. The figures show that there were 1,525 DROs and 718 bankruptcies.…
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Latest figures from the Insolvency Service have indicated an 8.8% increase in business insolvencies in England and Wales when compared to April’s figure of 929, and increased by 6.9% compared to May 2020’s figure of 946. The figures show that business insolvencies increased to 1,011 in May 2021 compared to April’s figure of 929, and increased…
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Scottish personal insolvencies figures continued to decline in May 2021 according to the latest figures released by Accountant in Bankruptcy (AIB), Scotland’s Insolvency Service which administers company liquidations and receiverships in Scotland. The figures showed that there were 7,215 personal insolvencies in the 12 months to May 2021 (inclusive), 5,423 (42.9%) fewer than in the…
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Latest figures released by Accountant in Bankruptcy (AIB) have indicated that Scottish business insolvencies rose by 46% in May 2021. The figures show that there were 51 business insolvencies registered in Scotland, this was 46% higher than in May 2020 but 35% lower than in May 2019. This was comprised of eight compulsory liquidations, 37…
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Latest statistics from the Insolvency Service have shown that Northern Irish personal and business insolvencies numbers increased in May. In May 2021 there were seven business insolvencies registered in Northern Ireland, 40% higher than in May 2020 but 83% lower than May 2019. This comprised of one compulsory liquidation and six CVLs.. There were no…
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The pandemic has motivated the UK’s businesses to crack down on late payment, according to the latest European Payment Report from Intrum. More than 11,000 firms across 29 European countries participated in the research. Tomorrow (Thursday 17th June), Intrum’s UK client and sales director Ian Davies will take part in a panel discussion on the…
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New research figures from Mazars show that almost 40,000 businesses were struck off the Companies House register in the first three months of the year, a rise of 743% on Q1 2020. Strike-offs from Companies House increased to 39,601 in the first three months of 2021 compared to just 4,695 in the same period in…
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New research by Uswitch.com has revealed impersonation scams as collectively having had the highest financial impact from fraud in the UK. with £96.6 million lost to impersonation fraud of police or bank staff in 2020, alongside £53.7 million lost to other types of impersonation scams. Unlike impersonation scams, where collectively more than half (56%) of…
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As many businesses face the financial impact of four more weeks before pandemic restrictions lift, small business owners who have become personal guarantors for CBILS loans over £250,000 are being warned that lenders will come to them first, if they default on the loan – not the Government. By 21st June 2020, 50,482 loans had…
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Apex Litigation Finance has announced the appointment of two new Advisors. Jan Buza and Jozef Maruscak join to provide key support for Apex’s growth strategy, strengthening resources to meet a significant increase in case numbers. Buza led Business Development at Exponea, a data company that raised over £30 million and was later acquired by Bloomreach,…
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CCW, the independent voice for water consumers in England and Wales, has announced the appointment of four new independent non-executive Directors to its Board, following their appointment by the Secretary of State for Environment, Food and Rural Affairs. Lisa Tennant, Jeff Halliwell, Rachel Onikosi and Bev Keogh all began their new roles with the consumer…
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The Financial Conduct Authority (FCA) has announced that it has appointed Non-Executive Chair of the London Stock Exchange (LSE) Michael Findlay, as the Chair of its independent Markets Practitioner Panel. Findlay will take up the post from 1st July 2021, succeeding Interim Chair Tim Waddell, Vice Chairman, Global Corporate & Investment Banking for EMEA, BofA…
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