Credit, Collections & Insolvency News
Bob Stefanowski is to be replaced as Dollar Financial Corporation Global (DFC) Chief Executive Officer. Bondholders in Dollar Financial Corporation Global (DFC) were informed late last week that Bob Stefanowski was stepping down as its chief executive, to be replaced by Glen Wakeman, a former GE Money executive in Latin America. The change at the…
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Ireland raised 4 billion euros at its first 20-year bond sale on Wednesday, drawing more than twice as much demand in a syndicated deal that covered over a third of its minimum funding needs for the year. Kicking off its annual funding drive with an issue placed via a syndicate of banks for the fifth…
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An overwhelming majority of insolvency and restructuring experts believe the UK’s decision to leave the EU will lead to a rise in corporate insolvencies in the next year, and that the referendum result has already hurt businesses’ finances, according to a survey of its membership by insolvency and restructuring trade body R3. 72% of those…
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Turkey is the ‘best’ European country in the G20 for UK firms to do business with, according to latest research . The findings, compiled by Creditsafe, have revealed Turkish businesses pay bills to their UK counterparts quicker than any other European G20 country, at an average of 4 days beyond terms (DBT). Creditsafe used its trade…
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Debt recovery specialist J&P Credit Solutions has partnered with the TCM Group, a global network of debt collection providers, to enhance its international recovery services. J&P Credit Solutions currently acts on behalf of a number of clients who look to pursue and recover debt from customers based overseas. The TCM Group is a global network…
Read moreChristmas spending is set to drop dramatically this year according to the findings within the Christmas Barometer 2016 survey from Ferratum UK. In 2015, Brits were planning to spend 39% of their disposable income on Christmas, whereas this year the figure has fallen to just 23%. According to the survey, this leaves Brits far behind…
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A New report from KPMG and peer to peer lender (P2P) TWINO shows UK leads the way in alternative finance but also suggests that continental European lenders catching up. The report shows that the UK still leads the way in alternative finance, with four times higher volumes in aggregate than the rest of Continental Europe.…
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The number of bankruptcies in Ireland increased last year, according to the Insolvency Service of Ireland (ISI)’s latest annual report. According to the report, there were 479 bankruptcies in 2015 – up seven per cent from 448 in 2014. There was also a massive increase in the number of people who were returned to solvency…
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OnGuard and Credit Tools have announced they are to merger. The merger will strengthen their European credit management software solutions. The new name of the organisation will be announced at a later stage. The merger will optimise the innovative capacity so that the organisation can continue to fulfill its strategic pioneering role for customers in the…
Read moreIrish bank Permanent tsb has announced their intentions to focus on new controls within their contact centre and provide enhanced customer service with Noble System’s Composer Real-Time Speech Analytics. Alan Murphy, Head of Collections at permanent tsb, said “At permanent tsb, we take customer service very seriously and we have invested heavily in technology that will support…
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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…
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Ireland’s SMEs are waiting the longest for payment from customers, according to the inaugural Global Business Monitor report from international business funder, Bibby Financial Services (BFS). The global study surveyed business owners in the USA, Germany, UK, Poland, Hong Kong and Ireland and found that Irish SMEs wait an average of 38 days for payment.…
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Three-fifths (59%) of British adults say they are neither more pessimistic nor more optimistic about their personal finances following the UK’s vote to leave the EU, according to new research by insolvency and restructuring trade body R3. However, the R3/ComRes survey of over 2,000 British adults found that one-in-four (25%) say they are more pessimistic…
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