Credit, Collections & Insolvency News
Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in April: 09 ONLINE DEALZ LTD 1CALLDRAINAGE LTD 2020 GROUP CONSTRUCTION LTD 22 PARK ROAD LTD 30SIX TRADER LTD 5 POINTZ LTD 50BEAS LTD 7 OAKS HOTEL LLP A & A ROOFING & BUILDING MAINTENANCE LTD…
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In April, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 08936190 LTD 24 INTERTRADE LTD A HERITAGE WINDOW CO. LTD AAC AIR CONDITIONING LTD AMFI LOGISTICS LTD AMMA CONVENIENCE STORE LTD ASHTON MAPLETREE LTD ASTRA RECRUITMENT SOLUTIONS LTD AUTOMART DIRECT LTD B S & N K…
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Following the Chancellor of the Exchequer’s announcement on 27th April, the Bounce Back Loans Scheme opens for applications from today (Monday 4th May) Delivered by lenders accredited by the British Business Bank for this scheme, Bounce Back Loans target small and micro businesses in all sectors, providing loans from £2k up to 25% of the…
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The Financial Conduct Authority (FCA) has announced it intends to seek legal clarity on business interruption (BI) insurance to resolve doubt for businesses who are facing uncertainty on their claims. The FCA has outlined that it intends to seek a court declaration, on an agreed and urgent basis, to resolve uncertainty for many customers making…
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Loan payment holidays are the main mitigation measure being used by small businesses to help sustain cashflow during the COVID-19 pandemic according to a snapshot of the market by Purbeck Insurance Services. 46% of the insurance provider’s policyholders are taking measures to manage their cashflow with loan repayments the top tactic being used by 47%. …
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The Insolvency Service has published the latest company insolvency figure for England & Wales which indicates that the total numbers of company insolvencies in Q1 2020 decreased, when compared with the previous quarter and the same quarter in the previous year (Q1 2019). The figures largely pre-date the Government lockdown and wider impact of the…
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New Analysis by UK Finance has shown that the value of emergency Coronavirus Business Interruption Loan Scheme (CBILS), to small businesses rose 46% to £4.1billion last week. Although it has been reported that the number of approvals slowed. Over £1.33 billion of loans have been approved in the week from 21 April to 28 April…
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The number of judgments against businesses in Northern Ireland. fell 27 percent in the last quarter. Total and average values rose by 38 and 89 percent respectively. There fewer cases consisting of larger value. The total value of Northern Irish business judgments reached almost the £1 million mark this quarter. Businesses owed 24 percent of…
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County Court Judgments (CCJs) against businesses England and Wales fell six percent in Q1 (January-March) 2020, compared to the same quarter in 2019, according to figures released by Registry Trust. The number of CCJs against businesses decreased from 35,781 in Q1 2019 to 33,520 in Q1 2020. The total value of judgments saw an increase…
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Ahead of the second reading of the Finance Bill on today (27th) April, Duncan Swift, President of insolvency and restructuring trade body R3, has called on the Government to scrap proposals to make HMRC a preferential creditor in insolvencies. R3 says that there has been widespread concern that the proposals will have a significant negative…
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The number of decrees against Scottish businesses rose by 29 percent over the period according to the latest figures from the Registry Trust. Decrees numbers increased from 561 to 722 in Q1 (January-March) 2020. The total value of decrees against businesses fell 5%, to just under £3million. The average value also fell by 10% as…
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The total value of registered debt in Jersey has almost halved from £1.2 million in Q1 2019 to £678,567 in Q1 2020 – a fall of 45 percent according to latest figures from the Registry Trust. This is despite an increase of 10 percent in the number of judgments issued in the Jersey Petty and…
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The UK government has temporarily banned landlords from using winding-up orders and from what the government calls aggressive debt recovery tactics against retailers while the COVID-19 crisis continues. The Business Secretary has set out new measures to protect high street shops and other companies under strain. The companies will be asked to pay what they…
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