Credit, Collections & Insolvency News
Customer non-payment continues to hamper the growth of small subcontractors working in the UK construction sector, according to a study by financial services provider Bibby Financial Services (BFS) and industry experts, The Vinden Partnership (TVP). Findings of the Subcontracting Growth 2018 research, undertaken in the aftermath of the collapse of Carillion, reveal that three-fifths of subcontractors (60%)…
Read more
Three directors of a debt management company have been banned from running companies for 29 years. Robert Solloway, Mark Harrison and Richard Mott, were all directors of RMR Financial Services Limited, which traded as Compass Debt Counsellors, a debt management company. Robert Solloway served as a director throughout, while Mark Harrison and Richard Mott were…
Read moreThe number of UK company directors disqualified has increased for the third year running to 1,231 in 2017/18, according to analysis from Moore Stephens. Thre research also shows that bans for disqualified directors are getting longer. The UK has tightened its disciplinary regime for rogue directors, with the number of disqualification orders increasing to 1,231…
Read more
Recoveries and Insolvency specialist Wilkin Chapman has announced that it has appointed a new Client Relations Manager. Rob Andrews joins Wilkin Chapman joining Paul Bowden and the dedicated local government team. For the past 20 years, Andrews has worked closely with the public sector in various roles including software implementation and latterly business development for the…
Read moreAccountancy firm MHA Monahans has announced that it has appointed Insolvency Practitioner Dan James as a senior manager in its specialist business recovery and insolvency team. James has more than 15 years’ experience helping companies and individuals in financial difficulty, joins the firm after 10 years at rival Begbies Traynor’s Bath office. He has also worked…
Read more
Following the recent increase in company voluntary agreements (CVAs), the British Property Federation (BPF) has called on the government to conduct an urgent review. The BPF believes the process is now being misused, saying that this risks undermining the UK’s global reputation and deterring much-needed investment into town and city centres, at a time when it…
Read more
The total value of UK business judgments rose sharply by 25 percent during the first quarter of the year, according to figures released by TrustOnline.The figures also show that the total number of judgments against businesses was up 8 percent on the same quarter in 2017. Over the same period the number of online searches…
Read more
Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies: 01662739 LTD 04103549 LTD 06846400 LTD 10 CASTLE STREET LTD 123 MOTORS LTD 24K CONSULTANCY LTD 36 ST. JOHN’S WOOD ROAD LTD 4 PRINT FINISHERS LTD 5I DIGITALS LTD 7 S BUDAK LTD A & E AUTOMOTIVE…
Read more
Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 09155717 LTD 1313 BATH LTD 2391 ELECTRICAL SERVICES LTD 404 ENTERPRISES LTD A MORREY DISTRIBUTION LTD A PROPERTY MANAGEMENT LTD A STUDIO LTD ABER HOUSE LTD ABSOLUTE WAREHOUSE SOLUTIONS LTD AC BOLTING AND TESTING LTD ACCESS SECURE SCAFFOLDING…
Read more
Administration notices have been issued and advertised in the London Gazette for the following companies: AIR MANAGEMENT SYSTEMS LTD ALBERT ROAD RECOVERY AND REPAIR LTD ANGLEWEST LTD ATLANTIC HOUSE LTD BACTEST LTD BAKER CONSULTANTS MARINE LTD BENCH LTD BILL LEWINGTON LTD BIRAKOS ENTERPRISES LTD BLUE SQUARE BUILDING LTD BOURGEE RESTAURANTS (BURY ST EDMUNDS) LTD BOURGEE RESTAURANTS…
Read more
Reforms should be made to improve the effectiveness of Company Voluntary Arrangements, a common High Street insolvency procedure, according to research commissioned by insolvency and restructuring trade body R3 and supported by ICAEW. The research report, produced by the University of Wolverhampton and Aston University, recommends a cap on CVA lengths, more time for companies…
Read more
Law academics will undertake research relating to ethics in insolvency proceedings which could impact on best practice in the future. Dr Lézelle Jacobs from the University of Wolverhampton Law School has been awarded £10,000 from INSOL International to carry out research: Corporate Insolvency Practitioners, Ethics and Remuneration: A case of Moral Bankruptcy? The research project…
Read more
The number of debt decrees registered against Scottish companies sharply rose during the first quarter of 2018, according to latest figures released by Registry Trust. There were 750 decrees issued against all businesses in Scotland during Q1 2018, four percent more than during the same period of the previous year. A massive 39 percent rise in…
Read more