World Credit

Cabot Credit Management appoints CEO for Gesif

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.

Distressed debt deals set to grow in Eastern Europe

A 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…

Lowell GFKL Group acquires German collections company

Lowell 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…

Santander deal for Williams & Glyn could still stall

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…

Consumer Financial Protection Bureau proposes cap on customer debt collection contact

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.

Europe’s oldest bank weakest in Stress test results

https://www.theguardian.com/business/2016/jul/29/rescue-package-in-place-as-europes-oldest-bank-fails-stress-tests

MasterCard to buy VocaLink

MasterCard Incorporated has announced that is going to acquire VocaLink Holdings Limited for about £700 million (approximately US$920 million).

US Regulator fines Santander $10million to settle vendor’s overdraft practices

http://www.cityam.com/245522/santander-bank-fined-10m-us-settle-vendors-overdraft

Lowell GFKL Group to acquire IS Inkasso Service (Austria)

Arrow Global to acquire InVesting BV (InVesting)

Arrow Global to acquire InVesting BV (InVesting), a debt purchaser and collections firm based in Belgium and the Netherlands, for £78.5 million (€100million)

OUTSOURCING Inc. has acquired JBW Group Limited (JBW)

OUTSOURCING Inc. has acquired JBW Group Limited (JBW) and  Case Dynamics Limited in a deal that valued the businesses at over US $34.5 million

Lowell Group and GFKL (Germany) merge