Credit, Collections & Insolvency News
Arrow Global Group has announced that it intends to enter the Italian market having agreed terms to acquire Zenith Service SpA (‘Zenith’), a leading servicing business in the Italian structured finance market, for an enterprise value of €17m. The transaction is subject to regulatory approval by the Bank of Italy. Zenith has a strong and…
Read more
Castle Trust Capital plc (CTC) has entered into an agreement to acquire Omni Capital Retail Finance Limited “Omni Capital). Completion of the transaction is expected during the first quarter of 2017 and is subject to the approval of the Financial Conduct Authority. Sean Oldfield, CTC’s chief executive officer, said: “The Omni Capital Retail Finance business…
Read more
National law firm Shoosmiths has appointed dispute resolution and asset finance expert David Farnell to the firm’s new office in Leeds as a partner in the firms recoveries services group (RSG). Joining from Addleshaw Goddard, Farnell has over 20 years’ experience as a finance litigator and works with a number of the UK’s leading banks…
Read morePayPlan and mental health charity SANE have come together to urge those in debt to give themselves the best gift they can by taking control of their finances in the run up to Christmas. Christmas is an exciting time of year but it can also bring a lot of anxiety and stress to people wanting to…
Read more
Shoosmiths has announced its move in to the Northern Ireland legal market following its merger with Belfast firm, McManus Kearney. Founded in 1987, McManus Kearney has specialist expertise in debt and insolvency matters in Northern Ireland. The firm will be known as ‘Shoosmiths’ from today, and its two partners – Mary Frances Kearney, Jason Byrne…
Read moreBritain’s biggest energy suppliers have submitted bids to take over 160,000 customers left behind by bankrupt energy provider GB Energy, which collapsed on Saturday after being caught out by rising market prices. All of Britain’s Big Six energy suppliers, EDF Energy, Innogy’s Npower, E.ON, Scottish Power, SSE and Centrica’s British Gas, have submitted bids in…
Read more
The partners of Addleshaw Goddard and HBJ Gateley (HBJ) have voted “by an overwhelming majority” to merge their businesses, creating the UK’s 15th largest legal firm. The merger, which will see HBJ’s business, people and partners transfer to Addleshaw Goddard by June 1st 2017, will “deliver stronger client and sector offerings across the whole of…
Read moreMasthaven has launched as a digital bank. The bank will offer savings and lending products, saying it is committed to offering what people want, not just what is available. Masthaven says at the heart of the bank is a people business – which at launch sees 80% of employees already shareholders in the business. Access to…
Read more
1st Credit and Telrock Systems are pleased to announce that the SmartCollect platform is today in full production across the 1st Credit business. The platform allows 1st Credit to execute cost effective SMS and email campaigns to engage with its customers and provides a 24x7x365 self – service capability to its customers through the SmartCollect…
Read more
Lowell GFKL Group, has announced its latest company results for its third quarter ended 30 September 2016. Commenting on the results, Colin Storrar CFO said: “I’m pleased to announce the delivery of impressive results by the Lowell GFKL Group. We have seen positive momentum during the third quarter with significant growth in both Cash EBITDA and 120…
Read moreParagon Bank has announced plans to launch a new range of specialist residential mortgages. In a report for the year ending 30th September 2016, the bank revealed that it intended to follow the launch of its development finance proposition and two acquisitions in the asset finance market with new specialist residential products in the first…
Read more
Spring Finance has promoted Kate Hill to Underwriting Manager. Hill has been an underwriter at Spring Finance since joining the company in July 2015. She previously worked at packagers The Loans Engine and Loans Warehouse, as well as Barclay’s, during the first 13 years of her career. Hill will be assisted by new underwriter Penny…
Read moreCabot Credit Management (CCM) has announced the financial results for nine months ending September 2016. Ken Stannard, Chief Executive Officer, CCM said “Our latest results continue to show strong returns and profit growth. During the first nine months of this year, we achieved an adjusted EBITDA of £180m, an increase of 24% compared with the…
Read more