UK Economy

Late Payment and business failure responsible for one in five Insolvencies

A R3 report has found that at least one fifth of UK corporate insolvencies in the past year were caused by late payment or the insolvency of another company. The survey of the insolvency profession reveals that late payment for goods or services was a primary or major cause of 23% of insolvencies in the last…

Strategic Banking Corporation of Ireland and Bibby Financial Services launch invoice financing fund

The Strategic Banking Corporation of Ireland (SBCI) and Bibby Financial Services Ireland (BFSI) have announced a €45million lower-cost invoice financing fund for Irish SMEs. An extension of SBCI’s on-going efforts to drive competition and choice in the Irish lending market, the announcement sees €45 million in funding being made available to Irish businesses. The agreement enables…

New Justice Secretary confirmed

Liz Truss has been appointed the new Lord Chancellor and Secretary of State for Justice. Truss was Secretary of State for Environment, Food and Rural Affairs.

The Government has announced that it is proposing a three month moratorium from creditor action for insolvent or near-insolvent companies