SIA Group appoints Non-Executive Director

27th June 2022 Appointments |

SIA Group announced the appointment of asset-based lending industry veteran Paul Beveridge as a Non-Executive Director. Beveridge brings more than three decades of experience to the role, latterly as Managing Director of PNC Business Credit. Under Beveridge’s leadership, PNC Business Credit has grown from a new start-up in 2006 to one of the UK’s leading…

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Companies wound-up after abusing covid support scheme

24th June 2022 Insolvency |

Two connected companies have been wound-up in court after they abused multiple local authorities to receive covid support loans worth £85,000 they weren’t entitled to. Momz Love Limited and Unique Homes Lettings were wound-up in the High Court in the public interest and the Official Receiver was appointed the Liquidator of the companies. The court…

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Zombie company numbers set to reach record high

23rd June 2022 Insolvency | #zombie companies

Business recovery group Begbies Traynor has warned that the number of zombie companies is set to reach a record high. Zombie firms are usually defined as low-growth or heavily-indebted firms barely able to cover interest payments on company debt. Companies are also grappling with soaring energy bills, diminishing consumer confidence and supply chain shocks caused…

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Shakespeare Martineau launches insolvency litigation service

23rd June 2022 Insolvency |

Shakespeare Martineau has announced that it has launched a new insolvency litigation service called ‘InSolvLit’. The new service will offering support from initial investigations stage through to identifying the claims and pursuing them to trial, the firm’s new service takes the burden off insolvency practitioners and drives forward claims quickly and efficiently. Claims are reviewed…

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Bankrupt abuses government support scheme

22nd June 2022 Insolvency |

A bankrupt from North London has received 8 years of additional restrictions from the Insolvency Service after he applied for bounce-back loan for a bogus business. Salih Ozhot, from Southgate, North London, petitioned for his bankruptcy before being made bankrupt on 13th October 2021. The Official Receiver was appointed as his trustee in bankruptcy before…

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Quantuma and Lightbulb Credit announce partnership

21st June 2022 Business |

Business advisory firm, Quantuma, has announced that it has partnered with the UK’s first corporate credit ratings advisory service, Lightbulb Credit, to expand the range of support it can offer to the professional advisory community and their clients across the UK. Lightbulb is the UK’s only advisor offering businesses the opportunity to review, better understand,…

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Business insolvencies increase by 79%

20th June 2022 Business | #business insolvencies

Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales decreased increased by 79.2% compared to May 2021’s figure of 1,014 but dereased by 8.9% in May 2022 to a total of 1,817 compared to April’s total of 1,995. Of the 1,817 registered company insolvencies in May…

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Scottish Business Insolvencies increase by 82%

20th June 2022 Business |

Latest figures from Accountant in Bankruptcy (AiB) have indicated that business insolvency numbers (liquidations and receiverships) in Scotland increased in May by 82% In May 2022 there were 93 company insolvencies registered in Scotland, 82% higher than May 2021 and 19% higher than in May 2019. This was comprised of 19 compulsory liquidations, 68 CVLs, and…

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Northern Irish personal and business insolvencies fall

20th June 2022 Business | #business insolvencies

Latest statistics from the Insolvency Service have indicated that Northern Irish business insolvencies and personal insolvency figures declined in the latest monthly figures round-up for May. In May 2022 there were 20 company insolvencies registered in Northern Ireland, 2.6 times as many as in May 2021, but 50% lower than May 2019. This was comprised…

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Apex Litigation Finance appoints Head of Legal

20th June 2022 Appointments |

Litigation funding specialists, Apex Litigation Finance has announced the appointment of Stephen Allinson, Solicitor and Licensed Insolvency Practitioner, as their new Head of Legal. Allinson is a credit, debt and insolvency specialist who has worked in the field since 1987. His extensive background also includes setting up his own consultancy and before that he was…

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Directors disqualified after falsely applying for £100k in bounce back loans

17th June 2022 Business | #insolvency regulation

Directors of distressed building firm have been disqualified from running businesses by the Insolvency Service after abusing government support they were not entitled to. David Garry Harrison and Paul Hudson both received 11-year bans after they did not dispute they caused their company to apply for £100,000 worth of bounce back loans it was not…

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Former footballer given six-year bankruptcy restrictions

15th June 2022 Insolvency | #bankruptcy

Former professional footballer Danny Guthrie has been given 6-year bankruptcy restrictions by the Insolvency Service. Guthrie played football professionally for several English football clubs at a senior level. In May 2019, Guthrie borrowed £75,000 from a friend to help him pay his household expenses, promising to repay the loan with funds raised from selling a…

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ICAEW appoints new President

10th June 2022 Appointments |

The Institute of Chartered Accountants in England and Wales (ICEAW) has announced it has appointed Julie Penny as its new President for 2022/23 Penny will succeed William Brooks as ICAEW president and will serve a one-year term until 2023 when she will hand over to Mark Rhys. Julia was first elected to ICAEW Council in…

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