Credit, Collections & Insolvency News
Arrow Global has announced its preliminary results for the year ending 31st December 2016. The results showed a record year for organic portfolio purchases of £223.0 million (2015: £176.3 million). Purchased loan portfolio asset base and loan notes increased by 37.2% to £804.1 million (2015: £586.3 million*), which is reflected in the increased value of the…
Read more
European debt collections specialist Lindorff Group has announced it’s 2016 full year net revenue and adjusted EBITDA excluding non-recurring items (NRIs) were EUR 647million and EUR 433 million, representing an increase compared to last year of 21% and 24% respectively. Lindorff‘s full year collection performance on its own portfolios was at 106 percent of active forecast. In…
Read more
John Ricketts has succeeded Leigh Berkley as President of the Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors. His appointment was confirmed at the CSA Annual General Meeting (AGM) in Leicester on February 7th. A former Managing Director of iQor in the UK and Canada, and the current…
Read more
The GFKL Lowell Group has announced the launch of a new Decision Science/analytics graduate programme. GFKL Lowell’s Decision Science department is focused on understanding, measuring, and predicting consumer financial behaviour. The team comprises business analysts, statisticians and quantitative and behavioral scientists dedicated to addressing the company’s most challenging analytic problems. The 18-month programme will see…
Read more
Hogan Lovells is advising the Department for Education (DfE) on its plans to sell £12 billion of student loan debt to the private financial sector. The firm is fielding a team led by deputy CEO David Hudd and London finance partner Julian Craughan. Weil Gotshal & Manges also has a role, advising Barclays which is…
Read more
AnaCap Financial Partners has announced the signing of an agreement to acquire a portfolio of Italian performing and non-performing corporate secured loans from Barclays. The portfolio, which has a gross book value of €177m, comprises loans to primarily small and mid-sized corporates secured against real estate located mostly in the north of Italy. The agreement follows AnaCap’s Credit Funds’ acquisition…
Read moreThe Credit Services Association (CSA) has criticised a report from the Institute of Fiscal Studies (IFS) that suggests only a fraction of the cash being raised by a new levy on firms of a certain size from April will be spent on Apprenticeships. The CSA also disagrees with the IFS claim that increasing the number…
Read more
Andrew Bartle, co-founder of Lowell Group is to leave the company later this year to develop new ventures. Bartle has been a key figure in the industry for almost fifteen years, and a keen supporter of the Credit Services Association. James Cornell Chief Executive Officer said “Andrew and I have worked together for many, many years. As…
Read moreResponding to the Bank of England’s latest money and credit statistics Citizens Advice says rising consumer borrowing could lead to serious debt problems further down the line – but that it is household bills putting the pressure on people’s finances now. According to the Bank’s December 2016 figures, unsecured consumer credit is at its highest…
Read more
FEATURE: Brexit and Debt Recovery When it comes to Brexit, we’re in unchartered waters. The government has yet to invoke Article 50, and is still working out, and trying to negotiate, acceptable terms. Prior to the referendum, as a member of the common market, the UK benefitted from over 50 EU-established trade agreements with the…
Read more
LCM Partners has appointed Greame Laing as it’s new Head of Asset Finance Origination. Laing brings a deep product understanding and an extensive asset finance network, having worked in the credit and banking sector for over 22 years for companies such as CSA Financial, Bank of London and The Middle East and CIT Group. Laing’s appointment…
Read moreHSBC has voluntarily agreed to set up a redress scheme for customers who may have suffered detriment by paying an unreasonable debt collection charge imposed by HFC Bank Ltd (HFC) and John Lewis Financial Services Limited (JLFS), the Financial Conduct Authority (FCA) has announced today. Both HFC and JLFS are now part of HSBC Bank…
Read more
Alejandro Zurbano, currently Managing Director of Lindorff Spain, has been appointed leader of a combined management and service organisation of Aktua and Lindorff Spain. Zurbano becomes the country manager of the total business of Lindorff Group in Spain. Zurbano will be in charge of leading the organisational integration process following the acquisition of Aktua by Lindorff in…
Read more