Credit, Collections & Insolvency News
Business Peer to Peer lender ThinCats has announced that the company has been granted full authorisation by the Financial Conduct Authority. The company says that authorisation paves the way to offering a full spectrum of smart investment products, with a number of developments planned including the launch of a ThinCats ISA, subject to obtaining ISA manager…
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Amicus Property Finance has announced a record month of lending in July at £72 million. The firm has cited a confident and buoyant short-term property lending market as well as having expanded its offering further across the country with the opening of the Manchester office last year as key factors. July’s record figure covers a regional…
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Late payments are an even bigger challenge for those medium-sized companies, with 94% of businesses employing over 50 people reporting that the issue is causing cashflow problems for them according to new figures from Ultimate Finance. In partnership with BDRC Continental, Ultimate Finance conducted research into the impact of late payments on the SME sector.…
Read moreFormer Chief Bankruptcy Registrar, Stephen Baister, will join Moon Beever solicitors in November. Baister is a highly-respected figure in the insolvency industry. A former solicitor and insolvency practitioner, he practised as a litigator specialising in insolvency and financial litigation, much of it for German clients. He was appointed as a Bankruptcy Registrar of the High Court in…
Read moreThe Competition and Markets Authority (CMA) has announced new support for consumers and small businesses experiencing unexpected banking fees. From today, two important changes come into force to make it easier to know what charges consumers and companies might face. Firstly, the CMA is forcing banks to be more transparent about the cost of overdrafts and…
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Liquidation notices have been issued and advertised in the London Gazette for the following companies: 5 ON THE CORNER LTD A LULLI BUILDING AND DEVELOPMENTS LTD A. AND. C. WINDOWS (ROTHERHAM) LTD A. H. HALES (PLUMBING AND HEATING ENGINEERS) LTD AAGAARD-HANLEY LTD ABEL OF HERTFORD LETTINGS LTD ACCIDENT COMPENSATION ANGELS LTD ADAM SIMMONDS LTD AJ SWORDS…
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New research from Begbies Traynor shows that 329,834 UK companies were experiencing “Significant” financial distress at the end of Q2 2017, a 25% increase from Q2 2016 (263,517 companies), representing the largest annual increase since Q2 2014 and the largest number of corporates experiencing significant distress in at least 5 years*. The Red Flag Alert…
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19% of estate agents in the UK currently exhibit warning signs that indicate they are at risk of going insolvent according to the latest research by Moore Stephens. The research shows that 4,928 estate agents out of a total 25,560 are showing signs of financial distress. Online estate agencies such as PurpleBricks, House Simple and…
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FRP Advisory has strengthened its north of England operation with the merger into the partnership of BWC, the Yorkshire and Teesside-based, independent, corporate recovery and insolvency specialists, bringing into the group all of its 16 staff including three partners and four directors. Led by founding partners Gary Blackburn and Paul Whitwam, David Willis, Martyn Pullin…
Read moreMoody’s Corporation has announced today that it has received clearance under the EU Merger Regulation from the European Commission to acquire Bureau van Dijk, a global provider of business intelligence and company information. Moody’s announced that it had agreed to acquire Bureau van Dijk on May 15, 2017. In accordance with the terms of the transaction, Moody’s expects the…
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Business information specialist, Creditsafe, has announced the addition of 16 countries across the Middle East and North Africa to its global platform. Businesses will now be able to gain instant online access to credit reports for companies in countries including: Bahrain, Benin, Burkina Faso, Congo Kinshasa, Egypt, Jordan, Kuwait, Lebanon, Oman, Palestine (West Bank and…
Read moreThe latest results Insolvency statistics from The Insolvency Service for Quarter 2 (April to June 2017 (Q2 2017) reveal that total company insolvencies increased in Q2 2017, primarily caused by 1,131 connected personal service companies entering liquidation on the same date following changes to claimable expenses rules. The estimated underlying number of company insolvencies fell…
Read moreEquita has announced that it has appointed Bev Osborne to Equita in a new position as Senior Client Services Manager. Osborne has held leadership roles in a Utility, Capital One and Nottingham City Council (latterly Nottingham Revenues & Benefits Ltd) as the Business Manager for Revenues. Osborne has a track record of consistently delivering against and…
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