Credit, Collections & Insolvency News
Creditfix has unveiled plans to open a new office in the heart of Toronto, Ontario. Initially, Pearse Flynn, chairman of Creditfix will take responsibility for the Canadian Operation until a local senior team is appointed. A newly-formed team of personal insolvency specialists will arrange Consumer Proposals for householders struggling with debts of up to $250,000…
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For the second year in a row, Intrum has announced that it has arranged a hackathon to promote innovations for financial well-being among European consumers. The hackathon will take place in Madrid on April 3-4, 2019. The two day-event will have participants from universities, institutions, start-ups and SMEs. The objective is to identify innovation gaps…
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The Prudential Regulation Authority (PRA), and the Financial Conduct Authority (FCA) have signed a memorandum of understanding with the European Banking Authority to share information and co-operate if there is a no-deal Brexit. The template sets out the expectations for supervisory cooperation and information-sharing arrangements between UK and EU/EEA national authorities. Following agreement on the…
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With weeks to go until Brexit, the impact the UK’s exit will have on the economy is still unclear for many, yet recent research from Just Group found some British consumers have a sense of optimism about their finances over the next year. Despite declining confidence in the economy and property market, the research reveals…
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Companies are increasingly cautious over taking risks in their supply chain, with fears over their level of dependence on suppliers and sourcing from high-risk countries dominating their thinking, data in a new report shows. The Q4 2018 Global Supply Chain Risk Report, published today by Cranfield School of Management and Dun & Bradstreet, investigates the…
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Irish bank KBC has appointed Peter Roebben has been appointed as its new Chief Executive assuming the role from Wim Verbraeken, who will return to the Belgian bank’s head office in Brussels. Roebben, who is currently a senior general manager of group credit risk at KBC Group’s head office in Brussels During his 27-year career with KBC,…
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Mortgage arrears would soar by 30% over the next three years in the event of a no-deal Brexit, according to data modelling by Kensington Mortgages, the specialist mortgage lender. Using its proprietary risk modelling tool, Vector, Kensington’s analysts tested a series of scenarios based on a representative data set of 750,000 loans (with an outstanding…
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The Irish Central Bank of Ireland has published an analysis of over 4,500 applications for approval to occupy senior roles within regulated firms in Ireland (under the Fitness and Probity regime) in 2018. The Central Bank has committed to publishing this analysis on an annual basis as part of its continued focus on the importance…
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With established markets in Italy, Spain and Greece still at the at the forefront of investor’s attention for Non-Perfoming Loans (NPL) investment, there is increased appetite to seek out new markets according to a new research report from law firm Ashurst. The report, A Global NPL Perspective, compiled the views of senior executives across the…
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The European Parliament has published a new report on Late Payments. The report, drafted by Member of the European Parliament Lara Comi, is based on statistics from European credit management specialist Intrum’s European Payment Report 2018, and takes into account important findings of the yearly study. In response to the new report Intrum has said…
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As the date of a possible withdrawal from the EU looms, more consumers than last year fear for their financial wellbeing in a post-Brexit world, with worries about a rise in the cost of food topping the list of concerns, according to new figures from YouGov, on behalf of mutual insurer Royal London. Overall, 35…
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The Financial Conduct Authority (FCA) has published near-final rules and guidance that will apply in the event the UK leaves the EU without an implementation period. As most of the changes proposed will be made under powers given to the FCA under the EU (Withdrawal) Act, they are subject to approval by the Treasury. As…
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Brexit is the main macroeconomic factor likely to drive a European restructuring wave in 2019, according to Debtwire’s 15th European Distressed Debt Market Outlook. In partnership with law firm, Orrick, and financial consultants, THM Partners, the study canvassed the opinion of 80 distressed investors and 50 private equity funds and provides insight into their expectations…
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