Credit, Collections & Insolvency News
Research by Opus Restructuring has revealed that administration business rescue procedures are ineffective in over two thirds of cases. Using data and analytics supplied by Company Watch, Opus reviewed the outcomes of 4,581 Administration cases in England & Wales which started in the past five years. Almost 2,000 of the Administrations remain in progress. Out of the…
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The Insolvency has published the latest Insolvency statistics between July & September. The key finding from the statistics was that total company insolvencies were slightly higher than the previous quarter and also increased on the year. The trend for the past year has been broadly flat. Andrew Tate, president of insolvency and restructuring trade body…
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https://www.theguardian.com/business/2016/oct/25/britains-high-streets-under-strain-as-15-shops-close-every-day
Read moreNearly a third of Scotland’s professional services firms are considered to be at higher than normal risk of insolvency, according to research by insolvency and restructuring trade body R3. The research shows that 30.7% of businesses in the sector are considered to be at higher than normal risk of entering insolvency in the next year,…
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The Insolvency Practitioners Association (IPA) has appointed Lloyd Hinton as its next Deputy Vice-President Hinton has been a member since 2001 and an IPA licence holder since 2007, is a fellow of the Association, Chairman of the Examinations & Training Committee, member of the IPA Council and has been progressively active in the Association’s activities…
Read moreSidley Austin LLP has announced that Jifree Cader is joining the firm as a partner in its Corporate Restructuring and Bankruptcy practice. Cader, brings a wealth of experience in advising clients on all facets of European insolvency and restructuring. James Conlan Chairman of Sidley Austin said “Jifree has considerable experience in restructuring work, particularly on…
Read moreSixty two per cent of a cross section of the UK’s insolvency industry believes that Brexit will lead to an increase in the number of business failures over the next 12 months, according to a survey conducted by international law firm Pinsent Masons. Over 400 insolvency practitioners attended th Restructuring and Insolvency conference, hosted by Pinsent…
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Appointment of Administrators Notices – September 2016 Administration notices have been issued and advertised in the London Gazette for the following companies: 247 TRANSPORTER LTD LSC 4CHILDREN (TRADING) LTD A-B-A-C-U-S FRANCHISING COMPANY LTD AAC MECHANICAL & ELECTRICAL LTD ACORN SHIPYARD LTD ALAN KIRKHAM LTD ALATAS ENGINEERING LTD ALBEMARLE SHOREHAM AIRPORT LTD AUTO FUEL FIX…
Read moreWinding Up Petitions (Companies) Notices – September 2016 Petitions have been issued and advertised in the London Gazette for the following companies: 13LAB EDITION LTD ABBEY ROSE INVESTMENTS LTD ABBEY SURFACING AND CONSTRUCTION LTD ABLE BUSINESS SERVICES CLEANING SOLUTIONS LTD ADCOCK CONSTRUCTION LTD ADVANCE ROBOTIC TECNIK LTD AFFORDABILITY SOLUTIONS LTD AGA LONDON LTD AGWM LTD…
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Moore Stephens LLP has published it’s annual company results and has announced revenues of £105.5million, representing 14% growth on the previous combined year’s figures and over £13million of new business. The firm, which is the largest member of the Moore Stephens UK network, merged with Chantrey Vellacott DFK LLP in May 2015. The strong organic growth,…
Read moreCVR Global has appointed Simon Lowes to its partner team. Lowes is a licensed insolvency practitioner with more than 30 years of experience in the insolvency and business recovery sector. He joins Matthew Fox as CVR Global’s second partner based in Southampton. Matthew Fox, Partner at CVR Global, said: “Simon is a highly experienced insolvency practitioner who…
Read moreResearch from Funding Options has announced that the number of businesses whose assets were seized by the HMRC in order to settle outstanding debts grew sharply in the last year is up 145%, from 649 in 2014/15 to 1,592 in 2015/16. Funding Options adds that HMRC seized assets to recover £42.6m of outstanding debt in the last…
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UHY Hacker Young has announced the appointment of Martin Jones as a new Partner in its London audit and assurance team. Laurence Sacker, Managing Partner of UHY Hacker Young, says: “We are delighted to have Martin join the UHY Hacker Young team at our London office. Martin’s specialist knowledge and international experience will be highly valuable…
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