Credit, Collections & Insolvency News
Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 19 THE MURRAY SQUARE LTD 1ST 4 CONSTRUCTION LTD 1ST STOP TICKETING LTD 3G TRANSPORT LTD 4D CONTRACT FLOORING LTD 5 EURO’S LTD A C CONSTRUCTION (ELLON) LTD A J BUILDERS (CONTRACTS) LTD ABODE (CLAPHAM) LTD ABSEC TECHNOLOGIES…
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Trade credit insurance specialist Euler Hermes has warned that future export market may prove to be a bad debt risk after Brexit. The findings come from Euler Hermes annual Collection Complexity Scores and Rating report, which measures the challenges of international debt collection procedures in 50 of the largest economies involved in global trade. The report…
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Judge and Priestley LLP (J&P) has announced that it has recently gained Financial Conduct Authority (FCA) authorisation. This comes in addition to its traditional authorisation and regulation by the Solicitors Regulation Authority (SRA). The move to seek FCA authorisation came in response to increasing client demands for J&P Credit Solutions (J&P CS), the debt recovery…
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New research by Moore Stephens has shown that restaurant insolvencies have risen by 20% in the past year. The research shows that restaurant businesses insolvency jumped 20% to 984 in the last year, up from 825 in the previous year*. The figures come on the back of one of Britain’s biggest sandwich chains, EAT, announcing this…
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Commercial debt recovery specialist Yuill & Kyle has announced that it will become part of the MacRoberts Group. MacRoberts LLP is one of Scotland’s oldest and most established independent commercial law firms. With 42 partners and over 180 staff working in offices in Glasgow, Edinburgh and Dundee, their legal specialisms include banking and finance, construction,…
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The number of debt judgments recorded in the Four Courts of Ireland fell to a historic low during 2017, according to figures released today by Registry Trust. There were 2,157 judgments registered against consumers in 2017, two percent fewer than the previous year and a record low. The mean average consumer judgment’s value fell 11…
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Business finance company MarketInvoice has announced a partnership with credit trade specialist Euler Hermes. The agreement will see Euler Hermes provide credit insurance policies to customers of MarketInvoice in safeguarding their businesses. With Euler Hermes credit insurance, MarketInvoice customers who use invoice finance solutions will have the assurance that they are protected in the event…
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Clarke Willmott has announced a series of promotions within their debt recovery team. Phil Roberts has been promoted from Senior Associate to Partner in recognition of his contribution to the firm and the team. Phil, along with Partner Kat Quinton, will be responsible for jointly leading the team. Senior Associate Stuart Hoysted has also been…
Read moreA new report published by Euler Hermes shows that western Europe is leading the way with debt collections procedures. The report titled “Collection Complexity Score and Rating” aims to measure the level of complexity relating to international debt collection procedures within 50 countries. Three main factors were analysed: local payment practices, local court proceedings and…
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Equifax has launched a new solution to support the government Commercial Credit Data Sharing (CCDS) initiative seeking to stimulate competition and encourage new entrants in SME lending, thereby addressing the shortfall in access to finance. The new Equifax solution gives lenders a comprehensive picture of a businesses’ financial health to facilitate faster and more informed…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 09232408 LIMITED 1FILM UNIT LIMITED A & A TRANSPORT (CANNOCK) LIMITED A HAPPY CHEF LIMITED A LA CARTE MANAGEMENT LTD A S SITE PREPARATION LTD A.I.M.S SUPPORT SERVICES LIMITED AAC AIR CONDITIONING AND REFRIGERATION LTD ACCELERATE DIRECT LTD…
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Today marks the start of a UK rule change required by the Competition and Markets Authority (CMA) as part of its Retail Banking Investigation which means that banks must now set up an alert system which will help their customers avoid unnecessary charges. During an investigation, the CMA found that banks receive around £1.2 billion a…
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New research has found that many UK businesses are working under double standards in regards to late payment. Most companies demand prompt payment from their customers, they don’t commit to this with their own suppliers. Most businesses are part of a supply chain and all transactions are interconnected; so if suppliers are not paid on…
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