Credit, Collections & Insolvency News
Latest statistics quarterly figures from the Insolvency Service for England & Wales have indicated that personal insolvencies numbers increased by 23.3% compared to May 2021’s figure of 8,496 and increased by 11.2% to 10,476 in May 2022 compared to 9,417 in April. There were 2,030 DROs and 566 bankruptcies. For individuals, 566 bankruptcies were registered, which was…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales increased by 79.2% compared to May 2021’s figure of 1,014 but dereased by 8.9% in May 2022 to a total of 1,817 compared to April’s total of 1,995. Of the 1,817 registered company insolvencies in May 2022…
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Latest figures from Accountant in Bankruptcy (AiB) have indicated that business insolvency numbers (liquidations and receiverships) in Scotland increased in May by 82% In May 2022 there were 93 company insolvencies registered in Scotland, 82% higher than May 2021 and 19% higher than in May 2019. This was comprised of 19 compulsory liquidations, 68 CVLs, and…
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Latest statistics from the Insolvency Service have indicated that Northern Irish business insolvencies and personal insolvency figures declined in the latest monthly figures round-up for May. In May 2022 there were 20 company insolvencies registered in Northern Ireland, 2.6 times as many as in May 2021, but 50% lower than May 2019. This was comprised…
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Energy regulator Ofgem has announced the next steps in their plans to prevent the kind of energy supplier failures we saw last year and to better protect consumers’ money if they do fail. The plans set out tough new measures to improve the financial health of energy suppliers meaning they can stand up to future…
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Litigation funding specialists, Apex Litigation Finance has announced the appointment of Stephen Allinson, Solicitor and Licensed Insolvency Practitioner, as their new Head of Legal. Allinson is a credit, debt and insolvency specialist who has worked in the field since 1987. His extensive background also includes setting up his own consultancy and before that he was…
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HMRC has announced that interest rates for late payments will be revised following the Bank of England interest rate rise to 1.25%. The Bank of England Monetary Policy Committee voted on 16 June 2022 to increase the Bank of England base rate to 1.25% from 1%. HMRC interest rates are linked to the Bank of England…
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Yorkshire Building Society (YBS) has announced that it has appointed Alasdair Lenman as Interim Chief Executive Officer (CEO) and Robert Purdy as Interim Chief Finance Officer. Stephen White, who has been acting as Interim Chief Executive Officer, will leave YBS to take on a new role at Santander. The Society says both appointments are subject…
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Tandem Bank has announced the appointment of Paul Pester as Non-Executive Director and Chair-Designate, subject to regulatory approval. Tandem’s current Chair, Jeffrey Pritchard, informed the Board earlier in the year that he planned to retire at the end of June having led Tandem through a period of significant transformation since joining the bank in 2016. …
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