Credit, Collections & Insolvency News
Kingsley Napley has announced that it has appointed Tristan Cox-Chung as a Partner in its restructuring & insolvency team. Cox-Chung joins from Clyde & Co where he spent the last 8 years, latterly as a Legal Director. Previously he has worked for Penningtons Manches Cooper and DMH Stallard. Cox-Chung specialises in both contentious and non-contentious…
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Latest Bank of England data has shown that mortgage debt fell back to £4.3 billion in October, after a rise to £5.2 billion in September.. The data shows that gross lending slightly decreased in October, to £24.5bn from £24.8bn, with gross repayments increasing by £1.5 billion to £22.1 billion in October. Net mortgage approvals for…
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A music producer who falsified bank statements to convince a finance provider to lend his company £150,000 and fabricated invoices to HMRC has been disqualified for the maximum term of 15 years. Felix Milton dramatically misrepresented the financial position of his company, The Nameless Ltd, by millions of pounds in obtaining the loan in the autumn of 2021. Earlier that year, the company secured…
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Only 14% of households are worried about debt, but fewer than one in five (19%) are classed as resilient when it comes to their use of it, according to research by the HL Savings & Resilience Barometer. The data also showed that across the board, almost half (46%) of debt is used for consumption rather…
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