Credit, Collections & Insolvency News
The number of companies filing for administration jumped 50% in the third quarter of 2022, as economic headwinds continued to buffet businesses the length and breadth of Britain according to analysis by Interpath Advisory The research found that August (traditionally the quietest month for insolvency. appointments) saw the highest monthly number of administrations since March…
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New analysis of insolvency statistics has indicated that the HMRC is becoming increasingly aggressive when it comes to issuing Winding Up Petitions according to ReSolve. Winding Up Petitions are a tactic of last resort to claim back monies owed and could be seen as a draconian move, giving businesses a short period to repay debts…
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Business advisory, restructuring and investment practice ReSolve has announced that it has appointed Larry Jobsz as a Partner Jobsz has over 30 years’ experience, with his most recent role was as Managing Partner at the corporate recovery and turnaround firm Buchler Phillips, where he led significant assignments for a diverse mix of clients and enjoyed…
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Total business insolvencies in England and Wales in the second quarter of 2022 hit their highest quarterly level since 2009 at 5,629. According to latest ONS data, although insolvencies decreased in 2020 thanks to government support packages, Creditors’ Voluntary Liquidations (CVLs) have hit a new high. CVLs accounted for 89% of all company insolvencies in…
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Higgs LLP has appointed an insolvency specialist as Principal Associate as it continues its ambitious growth drive. Suky Mann joins the leading Midlands-based law firm from a niche insolvency practice. In her new role, she will work within the practice’s growing Restructuring & Insolvency Department, which is led by Legal Director, Lauren Hartigan-Pritchard. Welcoming her…
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The UK’s Supreme Court has dismissed a claim calling for the law to be changed to force company directors to start taking creditors into account at the first risk of insolvency. The ruling clarifies the current legal position under which directors’ duties to creditors are triggered only when a company is either insolvent or on…
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The Insolvency Steering Group has announced that it has appointed diversity and 19 inclusion champions. Supported by R3 and the Insolvency Service, the new champions hail from organisations across the insolvency and restructuring landscape, from insolvency practitioner firms and legal practices to regulatory bodies. Together they will act as role models and will have an…
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In September the following administration notices have been issued and advertised in the London Gazette for the following companies: 21K FOOTWEAR LTD 4 EARTH INTELLIGENCE LTD ADMIN ALL RETAIL LTD ARENA TOURS LTD ARJOWIGGINS CHARTHAM MILL LTD ARJOWIGGINS TRANSLUCENT PAPERS LTD ARRIVAL SERVICES LTD AURORA PROJECTS (UK) LTD AVONSIDE GROUP SERVICES LTD AVONSIDE ROOFING LTD…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in September: (UK) CITY APARTMENTS LTD 1 RAPID CLINICS LTD 24 TRANSPORT SERVICES LTD 4DETELINA LTD 4PMO LTD A & A RESTAURANTS MIDDLESTOWN LTD A GJOKA LTD A.S.A. TRADING (UK) LTD ABC ENGINEERING LTD ABSOLUTE RESIN…
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In September Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 1 RAPID CLINICS LTD 161 PROPERTIES LTD 4PUBLIC SECTOR LTD A & S WHEELS LTD A W CLEAVER HAULAGE LTD A.B.V SOUTHEAST LTD ACCENTIA FRANCHISE CONSULTANTS LTD ACCURATUS GREEN LTD. ACTIMUS LTD ACTION FIRST MARKETING LTD…
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A company director has been given 200 hours community service on top of 20 months suspended sentence for breaches of Company Directors Disqualification Act 1986 and Insolvency Act. Daniel Ross Patchett from Kingsthorpe in Lincolnshire, pleaded guilty at Lincoln Crown Court of acting in the management of a company whilst an undischarged bankrupt. Bankrupts must…
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Business advisory and restructuring specialist Resolve has announced it has appointed Andrew Pepper as a new Partner to the practice. Pepper has over three decades experience in high-level roles across the restructuring and turnaround sector, including within the partnerships of BDO and Kroll Zolfo Cooper, and at Hilco Capital. Andrew’s focus will be on preserving…
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Corporate restructuring and insolvency specialist Leonard Curtis has announced the formal appointment of Dan Booth as Group Chief Executive Officer (CEO) As part of his role, Booth will be instrumental in the delivery of strategic direction for the Group – which recently announced its plans to double in size in the next three years –…
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