Credit, Collections & Insolvency News
The Insolvency Service has announced it has appointed three new non-executive directors. Richard Oirschot, Mary Chapman and William Trower QC have joined the Board which is responsible for the strategic leadership of the agency. Richard Oirschot is an experienced board director with a background in corporate recovery. He is a member of the Institute for…
Read moreThe number of debt decrees registered against Scottish businesses reached a record low during the first six months of the year, according to figures released by the Registry Trust. There were 1,198 debt decrees registered against Scottish businesses in the first half of 2017, down a third on the previous year and the lowest on…
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Late payments are an even bigger challenge for those medium-sized companies, with 94% of businesses employing over 50 people reporting that the issue is causing cashflow problems for them according to new figures from Ultimate Finance. In partnership with BDRC Continental, Ultimate Finance conducted research into the impact of late payments on the SME sector.…
Read moreFormer Chief Bankruptcy Registrar, Stephen Baister, will join Moon Beever solicitors in November. Baister is a highly-respected figure in the insolvency industry. A former solicitor and insolvency practitioner, he practised as a litigator specialising in insolvency and financial litigation, much of it for German clients. He was appointed as a Bankruptcy Registrar of the High Court in…
Read moreLiquidation notices have been issued and advertised in the London Gazette for the following companies: 5 ON THE CORNER LTD A LULLI BUILDING AND DEVELOPMENTS LTD A. AND. C. WINDOWS (ROTHERHAM) LTD A. H. HALES (PLUMBING AND HEATING ENGINEERS) LTD AAGAARD-HANLEY LTD ABEL OF HERTFORD LETTINGS LTD ACCIDENT COMPENSATION ANGELS LTD ADAM SIMMONDS LTD AJ SWORDS…
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Winding up Petitions have been issued and advertised in the London Gazette for the following companies: 34W LTD 360PRECISION LTD 365 (2012) LTD A 2 DELICIOUS LTD A&J WATER TREATMENT LTD AAA DRIVEWISE CONTRACTS LTD AALBORG PLACE LLP AB RESTAURANTS LTD ABEL OF HERTFORD LETTINGS LTD ACORN DEVELOPMENTS (KENDAL) LTD ADASTRA PUB COMPANY LTD ADVANCE EMPLOYABILITY…
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Administration notices have been issued and advertised in the London Gazette for the following companies: 4MEDIA LTD 63000HOMES LTD A & S TASKER INTERNATIONAL LTD ADB ALARMS LTD ALBERT MEDICAL DEVICES LTD ALEXANDER COMLEY LTD ALPHACRAFT (HIRE SERVICES) LTD ALTEC ENGINEERING LTD ALTEC HYDRAULICS LTD AMS VEHICLES LTD AMS VEHICLES LTD AMTEK ALUMINIUM CASTINGS (WITHAM) LTD…
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New research from Begbies Traynor shows that 329,834 UK companies were experiencing “Significant” financial distress at the end of Q2 2017, a 25% increase from Q2 2016 (263,517 companies), representing the largest annual increase since Q2 2014 and the largest number of corporates experiencing significant distress in at least 5 years*. The Red Flag Alert…
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19% of estate agents in the UK currently exhibit warning signs that indicate they are at risk of going insolvent according to the latest research by Moore Stephens. The research shows that 4,928 estate agents out of a total 25,560 are showing signs of financial distress. Online estate agencies such as PurpleBricks, House Simple and…
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FRP Advisory has strengthened its north of England operation with the merger into the partnership of BWC, the Yorkshire and Teesside-based, independent, corporate recovery and insolvency specialists, bringing into the group all of its 16 staff including three partners and four directors. Led by founding partners Gary Blackburn and Paul Whitwam, David Willis, Martyn Pullin…
Read moreThe latest results Insolvency statistics from The Insolvency Service for Quarter 2 (April to June 2017 (Q2 2017) reveal that total company insolvencies increased in Q2 2017, primarily caused by 1,131 connected personal service companies entering liquidation on the same date following changes to claimable expenses rules. The estimated underlying number of company insolvencies fell…
Read moreThe 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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