Credit, Collections & Insolvency News
Creditsafe has announced the opening of its first office in Asia. Headquartered in Tokyo with operations based in Fukuoka, it is the firm’s 18th global office. In addition to setting up its operation in Japan, Creditsafe is also planning to extend its global database to offer UK businesses information on more than 12 million publicly traded…
Read moreB2Holding ASA, via its fully owned subsidiary Ultimo Netherlands BV, has entered into an agreement to acquire a residential mortgage Non-Performing Loan (NPL) portfolio from Romanian Bank Banca Comerciala (BCR) in a 50/50 partnership with EOS Investment RO GmbH (“EOS”). The portfolio consists of some 6,800 loans secured by real estate collaterals. The portfolio has…
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JC International Acquisition Llc (Jefferson Capital International) has announced that it has achieved full authorisation from the Financial Conduct Authority (FCA). Peter Copperwheat, Head of UK , said “meeting the threshold conditions is a fantastic achievement for our team at JCIA and affirms our commitment to doing the right thing. Our UK Debt Collection Agency Creditlink Account…
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Creditsafe, has added 18 countries across Europe and Asia to its global platform. Businesses will now be able to gain instant online access to credit reports for companies in countries including Afghanistan, Belarus, Cambodia, Iceland, Laos, Malaysia, Myanmar, Thailand and Vietnam. The new international reach will see Creditsafe increase its information database by 21% to over…
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Cabot Credit Management (CCM) has appointed Jose R Cadena as its new Chief Executive Officer (CEO) for its Spanish operation Gesif S.A.U. effective from 12th September.
Read moreCabot Credit Management (CCM)) has announced its financial results for the past 6 months (period ending June 2016. The statement said that Debt purchase collections increased 24% from £141.6million to £175.9 million compared with the same period in 2015. 120-month Estimated Remaining Collections increased to £2.07 billion from £1.92 billion for the same period in 2015 and…
Read moreA growing number of non-performing loan (NPL) portfolio transactions are being concluded in Southeast Europe, with Bulgaria, Greece, Serbia and Slovenia all expected to see more sales in the near future. In Slovenia, the country’s largest bank Nova Ljubljanska Bank (NLB) is selling off €800million worth of NPLs in three tranches, as it cleans its…
Read moreLowell GFKL Group has announced that it has acquired Tesch Inkasso, a German third party collections company. Lowell GFKL Group, backed by the Permira Funds and Ontario Teachers’ Pension Plan, has entered into an agreement to acquire Tesch Inkasso Group from Avedon Capital Partners and the other existing shareholders. Closing is subject to certain regulatory…
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A deal for Santander to buy Williams & Glyn’s 300 branches from Royal Bank of Scotland (RBS) might still stall if an agreement cannot be reached that ensure more than a million customers move over to Santander The European Union (EU) had ordered that RBS sells off Williams & Glyn by 2017 as a condition of its £45 billion bailout…
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Consumer Financial Protection Bureau (CFPB),an independent agency of the United States government, has suggested capping the amount of times debt collectors can contact consumers. The proposal will affect more than 6,000 debt collection firms in the US.
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Irish Social Protection Minister Leo Varadkar has announced a new scheme to allow credit unions provide small affordable loans. A pilot scheme in 30 credit unions saw 1,300 people accessing the loans, the average amount of which was under €500. A further 50 credit unions have already expressed interest in joining the scheme Up to 400,000 people are estimated…
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https://www.theguardian.com/business/2016/jul/29/rescue-package-in-place-as-europes-oldest-bank-fails-stress-tests
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MasterCard Incorporated has announced that is going to acquire VocaLink Holdings Limited for about £700 million (approximately US$920 million).
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