Credit, Collections & Insolvency News
The latest figures from the Insolvency Service have shown that business insolvencies decreased in Scotland in June 2020 Company insolvencies decreased by one-third when compared with the same month last year (June 2019. Figures from the Accountant in Bankruptcy (AIB), Scotland’s Insolvency Service, administers company liquidations and receiverships in Scotland show there was 46 company…
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The Government must act to prevent council tax loading £158 million in bailiff and court fees on to people who can’t pay following the pandemic according to debt charity StepChange. Bailiff visits, often used to enforce debt owed to local authorities in the form of unpaid council tax, will start up again from 23rd August,…
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The High Court Enforcement Officers Association (HCEOA) is backing its members’ use of technology to improve the process of collecting outstanding debts on behalf of UK companies. Andrew Wilson, Chairman of the High Court Enforcement Officers Association, said “Many of our members have been using technology such as video calls and making extra efforts to…
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Large companies have made no progress in improving the prompt payment of their suppliers over the last five years, according to latest research by accountants Moore. The research has found that suppliers are currently waiting an average of 41 days to be paid, the same length of time as in 2015 with no progress in…
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Members of the insolvency and restructuring professional trade body R3 expect corporate insolvency numbers to increase over the next year. More than half (56.1%) of the respondents to R3’s member survey who work in corporate insolvency said they expected corporate insolvency numbers to be significantly higher than in 2019, while 37.6% think they will be…
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UK banks are preparing for up to 40 per cent (circa £11 billion) of loans from the Bounce Back Loan Scheme (BBLS) to potentially be written off as irrecoverable according to RSM Restructuring Advisory. RSM says that banks are already preparing and building their teams to pursue businesses that default on the BBLS, a scheme…
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The ongoing COVID-19 pandemic crisis poses a significant financial threat to the UK higher education sector. Universities will experience large income losses from falls in student enrolment, especially of international students, as well as lockdown-related losses of income from student accommodation and conference and catering operations. according to new research by the Institute for Fiscal…
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In June the following administration notices have been issued and advertised in the London Gazette for the following companies: 30 JAMES STREET LTD ACCESSORIZE LTD ADMEDO LTD ADWAIZ LTD AFFINITY CONTRACTS LTD AJS PROPERTIES 2018 LTD ALBION LTD ALPHA MAY DOMICILIARY CARE LTD ANDREW GRANT LTD LIABILITY PARTNERSHIP APTA BIOSCIENCES LTD ATAL CONTRACTING LTD ATHENA…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in June. 1ST CALL LETTINGS LTD 1ST CALL RECRUITMENT LTD 3TR LTD A HERITAGE WINDOW CO. LTD A-Z STATIONERS LTD A1 AUTOGLAZE NATIONWIDE LTD A1 HIGHFIELDS ASSOCIATES LTD AARKHAUS LTD AARON & STEPHEN CO LTD ABBEY…
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In June, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 3XP SOLUTIONS LTD ABSOLUTE CONSTRUCTION (NORFOLK) LTD ACE DEVELOPMENT SOLUTIONS LTD ACTIVE MANAGEMENT FACILITIES LTD ALLIANCE PREMIER LTD ANCHOR HOUSE CONSTRUCTION (R.G.) LTD APS PLUMBING AND HEATING SERVICES LTD ASTON DARBY GROUP LTD B N DIRECT…
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Court Enforcement Services has announced that it has appointed Neil Jinks as its new Marketing & Communications Lead. In this senior role Jinks will lead on developing communication processes within group companies and internal working partnerships. Neil’s remit includes developing marketing and communication processes within the business and to assist with the delivery bespoke solutions…
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Just has entered into an exclusive agreement with Validis to retrieve data from accounting platforms when enforcing against businesses. Validis allows small and medium enterprises (SMEs) to share their full financial data history in a standardised format. The software securely retrieves data directly from popular accounting software packages and layers analytics to categorise and distill data.…
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Energy regulator Ofgem has given the green light for collections on unpaid bills can resumer but has urged suppliers to avoid aggressive collection tactics. Ofgem has told energy suppliers it is not in anyone’s interests for an open-ended debt collection delay. In an open letter, the regulator set out it’s updated approach to regulating domestic…
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