Credit, Collections & Insolvency News
Small businesses across the UK are still chasing £14.9 billion in late payments resulting from goods and services they have provided, according to new research by Liberis. The study claimed that on average respondents were owed £11,000, which extrapolated to £14.9 billion across the UK’s 5.7 million small firms. The survey found that the amount…
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The government has published interim findings from its airline insolvency review. The review set up in the wake of the collapse of charter operator Monarch last year includes changes to the insolvency regime Following the call for evidence, discussions at the public evidence sessions and initial analysis. Findings of the review so far include that: airline…
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The Government has published its Brexit white plans on the future relationship between the UK and the European Union Commenting on the document Duncan Swift, Vice-President of insolvency and restructuring trade body R3, said “It’s encouraging to see the Government take post-Brexit cross-border insolvency issues seriously, and we welcome both the commitment to seek a…
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SME Lender, Spotcap has appointed Andrew Caulfield as a Senior Underwriter. He joins the lender’s growing team, which now consist of 130 employees globally. Caulfield brings over six years of experience in risk management with RateSetter in the UK and AIB – Allied Irish Banks, to the role. At Spotcap, he will be responsible for assessing…
Read moreThe National Housing Federation, the Scottish Federation of Housing Associations, Community Housing Cymru and the Northern Irish Federation of Housing Associations, are joining together to warn that the Universal Credit system is “flawed” and causing debt, suffering and hardship for the families they house. Together these organisations represent more than 1,000 housing associations housing over…
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Wilkins Kennedy LLP has been acquired CogitalGroup. The CogitalGroup UK regional business, Baldwins will merge with Wilkins Kennedy as part of the agreement. Wilkins Kennedy LLP, is a UK top 20 business services firm, with over 700 employees and partners and an annual turnover in excess of £54 million. The firm has 18 offices across London…
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Nearly two thirds (63%) of businesses believe that a malicious data breach by an employee is a significant threat (up from 41% in 2017), according to Callcredit’s 2018 annual fraud report. The study, entitled Building a Fraud Fortress, examines how businesses can protect themselves, their customers and their staff, and finds that fraud leaders are…
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Alternative finance specialist, ThinCats has appointed a vastly experienced ex-banking professional to cover the Yorkshire region. Ben Kimball joins ThinCats after a 15-year career working with SMEs for the likes of Lloyds Bank Commercial Banking, Royal Bank of Scotland and Barclays. He has supported SMEs in both Yorkshire and Scotland during his career and is…
Read moreAaron & Partners LLP has announced that it has appointed Stephen Taylor to join its Dispute Resolution and Insolvency team as a Senior Partner. Nick Clarke, Partner and Head of Dispute Resolution & Insolvency, said “Stephen’s appointment is a significant one for us as a firm and a real statement of intent for the Dispute Resolution…
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New figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer new car finance market grew 15% by value and 10% by volume in May, compared with the same month in 2017. The percentage of private new car sales financed by FLA members through the…
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Latest figures released by the Finance & Leasing Association (FLA) show that consumer finance new business in May grew by 11%, compared with the same month last year. Credit card and personal loan new business together grew by 11% in May, while retail store and online credit new business increased by 8%. Second charge mortgage…
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New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 10% in May, compared with the same month in 2017. New finance for plant and machinery grew in May by 4% compared with the same month in 2017, while the commercial vehicle…
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Low market interest rates for a long time could have implications for financial stability as well as for the health of individual financial institutions, a report by the Committee on the Global Financial System finds. Financial stability implications of a prolonged period of low-interest rates identifies channels through which a “low-for-long” interest rate scenario might affect the health…
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