Credit, Collections & Insolvency News
Duncan Swift, President of insolvency and restructuring trade body R3 has responded to the Queen’s Speech Swift said “We hope the Government does not miss the opportunity to make progress with much-needed – and long-awaited – corporate insolvency and restructuring reforms. They don’t appear to have been included in any of the planned bills, and…
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Clarke Willmott has made a series of new appointments to its debt recovery team. The Taunton-based team, jointly led by Phil Roberts and Kat Quinton, has made five new appointments with another starting in January and a further three team members currently being recruited. Simon Little joins the debt recovery team as Insurance Team Supervisor,…
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More needs to be done to raise awareness of blockchain technology and its benefits, as 19% of finance professionals are unaware of its uses within finance and 29% have no idea what blockchain is, according to the FinTech Barometer, an annual survey of 1,000 finance professionals conducted by order-to-cash specialist Onguard. While 29% of finance…
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Major insolvencies have rebounded as retail and construction accounted for more than a quarter of the world’s large corporate failures in Q3 2019, according to trade credit insurance provider, Euler Hermes. The insurer’s findings on global corporate insolvencies with turnover exceeding €50 million show there was an increase between July and September from 74 to…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in November: 07446749 LTD 1K1 LTD 1ST DIBBS LTD 2868 LTD 321TRAVEL LTD 3SIXTY5 SERVICES LTD 4 SEASONS WINDOWS DOORS AND CONSERVATORIES LTD 4-INTERIOR LTD 50CYCLES LTD 808 LEISURE LTD A & C THERMAL LTD A…
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In November, the following administration notices have been issued and advertised in the London Gazette for the following companies: 30 PERCY STREET LTD ADMIRABLE CRICHTON LTD(THE) AGP PLAY LTD AKHQ LTD ALLEN WILSON JOINERY LTD ANCHOR BAY CONSTRUCTION PRODUCTS LTD ANNICARE LTD AUTO SILICONE HOSES LTD BELMONT GARAGE LTD. BIRLEY MANUFACTURING LTD BRICKVEST LTD. BRICKVEST…
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In November, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 2018 PG PROPERTIES LTD 20190221 LTD 24/7 SHOP£ LTD 24HR CARE SOLUTIONS LTD 2EQIPP LTD A & P TRANSPORT (WORCESTERSHIRE) LTD A A WHOLESALE LTD A P VEHICLE AND PLANT EQUIPMENT LTD ABERCORN HOLDINGS LTD ABLE…
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There was a 15 percent rise in the number of County Court Judgments (CCJs) registered against businesses, according to the latest figures released by Registry Trust. With the total value of the 37,585 CCJs hitting £106.1million, the third quarter of 2019 saw a rise of six percent on last year’s figures. This was largely due…
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More companies across England and Wales are opting for voluntary rather than compulsory liquidation because of rising Government costs, an insolvency expert has said. The Insolvency Service’s report, published by the Government, showed company insolvencies increased slightly in Q3 2019 compared with Q2 2019. According to the report, the increase was primarily driven by a rise…
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R3, the insolvency and restructuring trade body, has launched its 2019 election manifesto, which sets out the policies that will help the insolvency and restructuring profession continue to support businesses and individuals going through financial distress. These include: The abolition of plans to make HMRC a priority creditor in insolvencies The introduction of the proposed…
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New analysis from MarketFinance has found that SMEs are being stretched by longer payment terms. The analysis found that businesses typically agree 45-day payment terms from completion of work or delivery of goods. Despite this, almost two-fifths (39%) of invoices issued in 2019 (worth over £34b2) were paid late, an improvement on 2018 when 43%…
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The Commercial Credit & Collections conference has confirmed its speaker agenda for the next event which takes place in January. CVR Global and Aon’s Commercial Credit & Collections conference agenda now includes speakers from Onguard and Cifas whilst three Credit Managers will debate the impact of technology on credit management. The event will open with…
Read moreThe adoption of artificial intelligence (AI), robotic process automation (RPA) and machine learning (ML) is increasing across the finance sector. This is being driven not only by a growing number of use cases but also the significant benefits these technologies offer, for instance, PwC has found that 54% of executives say AI tools have boosted…
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