Credit, Collections & Insolvency News
The Peer-to-Peer Finance Association (P2PFA) has published lending volume figures for its nine-member platforms for the first three months of 2017. The associations says ” the figures underscore the continued development of the sector with the maintenance of impressive expansion in lending volumes and investor participation.” With cumulative levels of lending at almost £8.5 billion,…
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Accountant in Bankruptcy (AIB) has published Scotland’s latest Insolvency figures. The number of Scottish registered companies becoming insolvent or entering receivership decreased in the fourth quarter of 2016-17, with 155 companies becoming insolvent compared with 230 in 2015-16 Q4. The number of members’ voluntary liquidations (solvent liquidations) decreased from 358 to 119 over the same period.…
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The Civil Enforcement Association (CIVEA), which represents all the major civil enforcement agencies along with a number of independents, is to host a major conference this September 20th at One Great George Street in Westminster. The one-day event will include a conference and exhibition and will be free to delegates drawn primarily from local authorities. …
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An independent study commissioned by Dun & Bradstreet has shone a light on the complexities of the modern Financial Leader role – highlighting a community under intense pressure to balance traditional accounting tasks with more strategic revenue-generating activities. Of the 200 UK Financial Leaders surveyed, almost three-quarters (71%) believe finance teams are under too much…
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Ward Hadaway and Weightmans have today announced that they have mutually agreed to withdraw from their merger discussions. According to a statement, both firms could see undoubted benefits of the merger and have a great deal in common around culture and values. Following discussions, however, both firms reached a consensus their respective strategic priorities were not…
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Duff & Phelps has appointed Allan Graham as Managing Director of its Restructuring Advisory practice. Graham will focus on Duff & Phelps’ mid-market restructuring and insolvency cases nationwide. Graham joins Duff & Phelps from KPMG, where his 27-year career included 19 years as a Restructuring partner. Having been based in the Midlands for half of…
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New research by the Financial Services Compensation Scheme (FSCS) shows that almost two-thirds of respondents feel reassured knowing that FSCS protects their money if their bank, building society or credit union fails. On 30 January 2017, the FSCS protection limit increased from £75,000 to £85,000 following a consultation from the Prudential Regulation Authority. The research by…
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New nationally representative research across 2,000 UK adults from Asset Match has revealed resounding consumer confidence towards British businesses in light of Brexit negotiations triggered on 29 March. It found: 53% of UK adults – 27.21 million people – think Brexit will open up new opportunities for UK companies to expand globally This figure rises to 65%…
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The slowest-paying local councils took on average 38 days to pay their suppliers last year, says new research by the Asset Based Finance Association (ABFA), the body representing the Invoice finance and asset based lending industry in the UK and Ireland. Payment times to suppliers by local councils have remained persistently high in the past…
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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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Adrian Hyde, a Partner at CVR Global LLP, has been appointed as the new president of R3. Throughout his career, Hyde has worked on a wide range of insolvency matters, primarily focussed on contentious insolvency, tackling crime, and fraud related cases, along with overseas issues at offshore jurisdictions and business centres. Prior to joining CVR,…
Read moreThe Council of Mortgage Lenders estimates that gross mortgage lending reached £21.4 billion in March. This is 19% higher than February’s lending total of £17.9 billion, and 19% lower than the £26.3 billion lent in March last year. The sharp fall in year-on-year lending was expected, as March last year saw significant rises in activity…
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