Credit, Collections & Insolvency News
A new debt recovery law has been launched following authorisation from the Solicitors Regulation Authority (SRA). AJJB Law says that it will be a modern legal practice specialising in all aspects of financial debt recovery litigation and will operate from the same location as its parent company CRS. The company says that its debt collection…
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Just, the enforcement market integrator has appointed Shahram Sharghy as their In-house Barrister. Sharghy has 20 years of experience and expertise in this area of law and has been at the forefront of some of the most pioneering developments concerning High Court Enforcement. He regularly appears in the High Court in relation to a wide…
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Enforcement specialist JBW Group has announced it has fully acquired the shares of debt collection agency (DCA) Advantis Credit with funding provided by OUTSOURCING Inc. Advantis will continue to be managed separately to JBW and will retain its brand and management team, led by CEO, Mark Webb. This acquisition brings FCA Regulated Debt and Contingent…
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Representatives of the construction industry, Build UK, have published the latest payment results submitted by its members under the ‘Duty to Report on Payment Practices and Performance’. The report’s aim is to create greater transparency across the construction sector which in turn will lead to improved payment practices. The report shows that contractor members showed…
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There was a 20 percent rise in the number of judgments recorded against consumers in the Republic of Ireland in Q4 2019, compared to the same period last year, figures released by registrar Irish Judgments show. Consumer judgment numbers rose from 516 in Q4 2018 to 618 Q4 2019, while the total value grew by…
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Judgments taken out against consumers in Northern Ireland rose 16 percent in Q4 2019 compared to the same period in 2018, according to figures released today (27th January 2020) by Registry Trust. 1,732 judgments were taken out against consumers compared to 1,494 in Q4 2018. The average value rose by 7 percent pushing up the…
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The Insolvency Service has released its annual figures on business insolvencies which show that excluding one-off ‘bulk insolvency events’, seasonally adjusted corporate insolvencies in 2019 rose 6.8% from 2018. Excluding these one-off events, there were 17,196 business insolvencies in 2019 – the highest since 2013 Underlying Creditor Voluntary Liquidations were at their highest annual level…
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The second Commercial Credit & Collections conference saw the themes of Brexit and technology within credit management discussed at an event hosted by Aon and CVR Global at last week’s (23rd January 2020) event held at the Leadenhall Building in London. Over 80 industry professionals from the commercial credit management sector attended the event. The…
Read moreNew research from insolvency firm, Begbies Traynor has revealed that the number of businesses in significant1 financial distress has risen to 494,000 – the highest number recorded by this research, with the real estate and property, support services, construction and retail the sectors particularly badly affected. The latest Red Flag Alert data for Q4 2019…
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The latest official statistics show that corporate insolvencies in Scotland for the whole of 2019 were 4 percent up on the year before, at 980, putting them at their highest level since 2012. However, the figures fell by 4% in October-December 2019 when compared with July-September 2019, and rose by 8% compared with October-December 2018.…
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One in five UK businesses are financially stressed, with more than 1,000 companies in situations of acute distress, according to new research from KPMG. KPMG’s Restructuring practice analysed the filings of all UK businesses with revenues in excess of £10m over a five year period to the end of 2018 – a population which grew…
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The number of UK retailers entering administration in 2019 was 124 compared to 125 in 2018, a marginal decrease of 1%, according to Deloitte’s latest insolvency figures. This came despite December seeing a significant year-on-year increase in retail administrations with 11 taking place in December 2019, compared to seven in 2018 – a 57% surge.…
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New research published by digital business banking platform, Tide has revealed that SMEs across the country are chasing more than £50 billion worth of late payments. Tide surveyed 1,000 CEOs, founders directors and senior management staff at SMEs in December to analyse their use of time during their working day. The study found that the…
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