Credit, Collections & Insolvency News
Overseas buyers and British expats without correct advice are finding it increasingly difficult to purchase property in the UK, according to research provided deVere Mortgages. The observation follows the introduction of new tougher requirements for buy-to-let borrowers year by UK lenders. Darren Mead, Head of Mortgages at the firm, which is part of deVere Group, one of…
Read more
https://www.theguardian.com/business/2017/feb/22/australias-record-household-debt-a-threat-to-economy-says-reserve-bank-chief
Read moreAnaCap 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 moreFEATURE: 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
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 moreBob 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…
Read more
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…
Read more
Christmas 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…
Read more
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
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…
Read more
Intrum Justitia and Lindorff have announced plans to create Europe’s leading debt collection credit management service. The two companies have a local presence in 23 markets across Europe and a team of more than 8,000 employees. By joining forces, both local and global clients will benefit from a strong pan-European platform, enhanced service offering, innovative…
Read moreIntrum Justitia has entered into an agreement to acquire 1st Credit, a mid-sized purchased debt company in the United Kingdom. The purchase price on a cash and debt free basis is about £130 million, attributable to a diversified portfolio of receivables, deriving from investments from several sellers in the financial industry. 1st Credit generated earnings…
Read moreLindorff has announced a strong a strong performance in Q3 2016. Net revenue in the quarter was EUR 167m, an increase of 26 percent compared to the same quarter last year, and adjusted EBITDA excluding non-recurring items was up 32 percent to EUR 110m compared to the same quarter last year. The growth was driven…
Read more