Whitmore Reans Credit Union has announced it has appointed liquidators. In March 2016, the Wolverhampton-based credit union stopped trading after it was unable to repay deposits to its members. The Financial Services Compensation Scheme (FSCS) stepped in to protect the 981 members of the credit union. Whitmore Reans Credit Union has now revealed that on…
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FRP Advisory has announced that it has appointed three new partners and seven business restructuring advisers to a new office in Preston David Acland, Steve Williams and Lila Thomas have joined as partners. Acland has 30 years’ experience in restructuring and turnaround and had a 25-year career with Begbies Traynor, becoming regional managing partner based…
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Dave Carter has left The Sheriffs Office. In a statement on Linkedin he confirmed his departure. High Court Enforcement Group acquired the Sheriffs Office in February 2016. Carter is the former Chief Executive Officer of The Sheriffs Office. Carter’s Linkedin statement can be found here.
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Latest figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 5% in 2016 – the sixth consecutive year of growth. New business in December 2016 fell by 13% compared with the same month in 2015. New business in the commercial vehicle finance…
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Thrings and Veale Wasbrough Vizards (VWV) have been appointed by The Bar Council to provide debt recovery services to its members, including all barristers and chambers in England and Wales. Paul Mosson, Director of Services from The Bar Council said “Our members need assurance that when we appoint an Affinity Partner, we are rigorous and commercial…
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A resurgence in economic confidence was experienced by credit professionals in the final quarter of 2016, according to the UK’s latest Credit Managers’ Index (CMI). Yet bad debt remains a risk with only 13% of credit managers expecting a decline in 2017. Full results from the quarterly barometer of the Chartered Institute of Credit Management…
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The total number and value of debt judgments in Northern Ireland fell to the lowest levels on record during 2016, according to figures released today by Registry Trust. There were 7,144 small claims judgments in 2016, 15 percent fewer than the previous year. The total value also fell 15 percent; the average value remained unchanged…
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The £15 million supplementary levy imposed on mortgage brokers by the FSCS will hit the best-qualified brokers hardest, says the National Association of Commercial Finance Brokers (NACFB). Rob Lankey, CEO of the NACFB, said “Of course we welcome any move that protects borrowers. The steps we’ve taken to embrace regulation have not been cost-free and our…
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The number of debt decrees registered against Scottish businesses fell to the lowest recorded level during 2016, according to figures released today by Registry Trust. There were 3,523 business decrees in Scotland during 2016, 24 percent fewer than the previous year. The total value surged to £45.8m, the highest on record, but this was due to…
Read moreDespite over half (56%) of UK organisations being affected by fraud, confidence levels in fraud prevention techniques is remarkably high, reveals research from Callcredit Information Group. The Fraud & Risk report of 201 Fraud Prevention Managers and Directors, finds that a majority of businesses (75%) believe they are one step ahead of fraudsters, with a…
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The number of debt judgments recorded in Ireland’s Four Courts fell to a historic low during 2016, according to figures released today by Registry Trust. There were 2,155 judgments registered against consumers in 2016, 38 percent fewer than the previous year and a record low. The total value of consumer debt judgments similarly fell to…
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Aldermore has added two new senior appointments to it’s Asset Finance team. Patrick Jelly joins the Bank as Commercial Director for Asset Finance. Stewart Good joins as Head of Manufacturer and Dealer Services reporting into Jelly. Jelly joins from Pitney Bowes Global Financial Services where he worked for 15 years, latterly as Group Managing Director, Global…
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An overwhelming majority of industry experts believe the UK’s decision to leave the EU will lead to a rise in corporate insolvencies over the next year, according to a new study by R3. A survey of insolvency and restructuring firms also shows that 55 per cent believe their finances “have been hurt” since last June. Insolvency…
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