Credit, Collections & Insolvency News
The British Business Bank today announces that it is providing a £37.4m facility to Shire Leasing to increase its funding to smaller businesses for the acquisition of business-critical assets. The transaction is being made under the Bank’s ENABLE Funding programme, which aims to increase the supply of funding to smaller businesses in the UK. The…
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The Asset Based Finance Association (ABFA) has appointed Michael Walsh as Chairperson of the organisation in Ireland and Mark O’ Rourke as Vice Chairperson. Walsh, who has over 25 years’ experience in the Irish banking sector, is currently Director of Ulster Bank Invoice Finance. Michael has held a number of senior roles within the company…
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According to the National Crime Agency’s Strategic Cyber Industry Group, in its Cyber Crime Assessment report 2016, there is “A need for a stronger law enforcement and business partnership to fight cyber crime” In this article, Andrew Sheldon MSc, one of the UK’s leading experts in the field of digital forensics technology and application, explains how the…
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Belfast firm MKB Law has appointed James McIlveen to join its’s debt recovery team as a legal executive. McIlveen will be dealing exclusively with debt recovery and collection matters. McIlveen said: “I have accumulated over 30 years of commercial litigation experience, and was admitted as a member to the Institute of Credit Management in December 2002. I…
Read moreOne in five businesses has been victims to cyber-attacks in the past year, according to the results of a survey released by the British Chambers of Commerce (BCC). The survey of more than 1,200 businesses across the UK found that 20% had been hit by a cyber-attack in the last 12 months. Big businesses are…
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Shulmans has announced it is strengthening its business recovery and insolvency team with a new appointment and an internal promotion. Lucy Clark, who join the company in 2013, has now been promoted to Associate. Lucy has specific expertise in investigatory work and asset realisation in complex bankruptcies, in addition to extensive knowledge of all matters…
Read moreCreditsafe has been granted full Financial Conduct Authority (FCA) authorisation. Paul Beard, Global Commercial Contracts Director at Creditsafe, said: “FCA authorisation demonstrates to current and future clients, particularly large enterprises that Creditsafe’s regulatory and operational infrastructure has met the highest standard demanded by the FCA. It is further evidence of our commitment to deliver excellence…
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Plans by the Labour leader, Jeremy Corbyn, to tackle poor payment practices by big companies against their small suppliers have been welcomed by the Federation of Small Businesses (FSB). In a speech to FSB members today, Mr Corbyn’s proposals included excluding late-paying large firms from public contracts, and to force big businesses being paid by…
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At the end of the first week of the newly competitive water market, thousands of customers have engaged with the market and nearly 9,000 (8,876*) premises have switched water retailer. The figure was revealed by Market Operator Services Limited (MOSL), which operates the market and ensures it runs efficiently and effectively on behalf of the…
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Redwood Bank, a new UK SME Business bank, has secured a banking licence following approval from the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA). Redwood will now enter its mobilisation phase and expects to launch to customers later in 2017. Redwood Bank is wholly owned by Redwood Financial Partners Ltd (RFP), a company…
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MarketInvoice, the peer-to-peer online invoice finance marketplace, observed its best quarter and record month (March) of invoice finance funding since starting in 2011. Invoices worth £54.7m were funded from UK businesses last month, providing them with critical working capital.Q1 2017 has proved to be a record period for MarketInvoice as it scales towards its goal…
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Bibby Financial Services (BFS), has appointed Ben Smith as UK Corporate Sales Director. After joining BFS from British Nuclear Fuels Plc in 2010, Smith has held a variety of roles including Corporate Manager, Head of West Midlands Business Centre and – most recently – Head of Corporate for the Central region. Officially starting his new…
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Metro Bank, the revolution in British banking, has today announced the appointment of Alec Viney as Commercial Banking Director. Viney will be joining the bank’s specialist Large Commercial Banking team and will look after business customers in the south-east of England. Joining from HSBC, Alec has over 25 years’ experience in the industry and previously…
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