Credit, Collections & Insolvency News
The number of Scottish businesses becoming insolvent or entering receivership dropped by almost 25% compared to a year ago, according to figures from Accountant in Bankruptcy (AiB) for the first quarter of 2017-18. Compared to the first quarter of 2016-17, there were 200 corporate insolvencies, down from 265 – a drop of 24.5%. The figure…
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Smith Cooper has announced the appointment of Andrew Stevens as an Insolvency Director. Stevens’s career, spanning 29 years, is built on advising distressed and underperforming owner managed businesses in the SME market and for the last 15 months, he has been involved in his own boutique Insolvency Practice. In his new role at Smith Cooper, Andrew…
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Insolvency action may arise as an unintended consequence of the introduction of the new Pre-Action Protocol for Debt Claims on 1st October according to law firm Clarke Willmott. Karen Chapman from Clarke Willmott LLP. Chapman says the Ministry of Justice’s protocol will potentially make it a longer and more onerous process to recover debts from sole traders or…
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Law firm Howes Percival has acquired Summers Nigh Law. Summers Nigh Law is a niche insolvency firm with a significant number of local and national clients in the development & construction, manufacturing, technology, automotive, food & drink, agriculture and education sectors. Summers Nigh Law’s two partners, Katie Summers and Deborah Nigh, together with their five support…
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New research from Moore Stephens indicates that 26% of construction companies currently exhibit warning signs that indicate they are at risk of failure. Companies building commercial properties are most at risk, with 32% facing an increased chance of entering into insolvency by 2020. This compares to 23% for those building residential properties. The research reflects…
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The Institute of Chartered Accountants in England and WalesChartered Accountants in England and Wales’ (ICAEW has appointed Tyrone Courtman as Chair of its insolvency and restructuring special interest group. Courtman is a Partner at PKF Cooper Parry has more than 25 years’ experience, leads PKF Cooper Parry’s business restructuring, recovery and insolvency services team across the…
Read moreThe UK’s smaller businesses are facing a total bill of £2.16 billion to chase overdue payments, according to Bacs Payment Schemes Limited (Bacs). That’s in spite of a dramatic drop in the overall late payment debt, with new figures showing that UK small to medium size enterprises (SMEs) are owed £14.2 billion in contrast with…
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Administration notices have been issued and advertised in the London Gazette for the following companies: ALO CARE LTD 1ST SOLUTIONS EMPLOYMENT AND TRAINING SERVICES LTD ADAMS SHEET METAL LTD ADVANTAGE RENTALS & REPAIRS LTD AEGIS WIND FINANCE (NO.2) LTD ALO CARE LTD ALO CARE LTD ARGYLL RENEWABLE ENERGY LTD AUDIOLOGICAL MEASUREMENT & REPORTING LTD B60…
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Liquidation notices have been issued and advertised in the London Gazette for the following companies: 08135583 LTD A & A NANDRA LTD A & M DELI LTD A CASA RESTAURANT LTD A D SHAW JOINERY CONTRACTS LTD A-S ELECTRICAL SERVICES UK LTD A101 LTD ABSOLUTE PROPERTY MAINTENANCE BUILDING SERVICES LTD ACADEMY FOR GROWTH LTD ACORN PRINT…
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Winding up Petitions have been issued and advertised in the London Gazette for the following companies: 07715030 LTD 8POINT3 LTD A & D ELECTRICAL LTD A.N.A. MOT EXPRESS LTD ACORN DEVELOPMENTS (KENDAL) LTD ADJUST PERSONNEL LTD ALEXANDER DU’BEL WISH FOUNDATION ALL PEOPLE RECRUITMENT LTD ALTEC ENGINEERING LTD ALUFAB LTD AMBER SOLAR LTD ANGLESEA HOME IMPROVEMENTS LTD…
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The Insolvency Practitioners Association (IPA), Royal Institution of Chartered Surveyors (RICS), and the Non-Administrative Receivers Association (NARA) have announced the re-launch of their joint initiative with updated and extended regulation of property receiverships. A new Memorandum of Understanding provides for some important changes which should increase transparency and reassure stakeholders. All Registered Property Receivers will…
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The government must not neglect its business rescue reform plans as it prepares for Brexit, says insolvency and restructuring trade body, R3. Plans to introduce the government’s year-old reform proposals – or any other corporate governance reforms – appeared to be absent from the Queen’s Speech. As this will be the only Queen’s Speech for…
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Liquidation notices have been issued and advertised in the London Gazette for the following companies: 483 NCR LTD 75 PIZZA PRONTO LTD A6 DEVELOPMENTS LTD ABACUS TW LTD AFLAH SHAKES LTD AJM ELECTRICAL & SECURITY SOLUTIONS LTD AJP BUILDING & ROOFING SERVICES LTD ALBION SCRAP METALS LTD ALLANS NEWCASTLE LTD ALPHA EARTHWORKS LTD ALXAS LTD AMBAR…
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