Credit, Collections & Insolvency News
KMPG has announced that Brian Horn, Chris Coley and Paul Richards have joined the firm and will be working within its Special Situations and Turnaround team based in London. Their primary focus will be on helping to preserve and restore value to organisations that may be facing a period of financial uncertainty. The team’s expansion…
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The Government has launched a call for evidence seeking stakeholders’ views and evidence on the personal insolvency framework and whether it serves the needs of debtors and creditors in the 21st century. The last fundamental review of personal insolvency was carried out 40 years ago. The government is seeking views and evidence on the overall purpose…
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In June the following administration notices have been issued and advertised in the London Gazette for the following companies: 08804168 LTD 1-9 KINGS ROAD LLP 4D PHARMA PLC AAT EVENTS LTD ACB DEVELOPMENT LTD ADMIRALTY ARCH (UK) LTD AIM ALTITUDE LTD AIM ALTITUDE UK LTD APPLEBY CASTLE (OUTBUILDINGS) LTD AUTORESTORE LTD BFS REALISATIONS LTD BLUE…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in June: 3D ENTERPRISES LTD 3D IT ENGINEERING LTD 3H&M LTD 6969 LTD 72 CONSULTANCY LTD A & A PRESTIGE CHAUFFEURS LTD A & MP LTD A B MEDIATION LTD A H A EVENTS. LTD. A…
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In June Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: &BUILD LTD 112786 LTD 123 AP LTD 2030 LTD 3804242 LTD 90 KENSINGTON PARK ROAD MANAGEMENT COMPANY LTD A & C CIVILS LTD A WORD IN YOUR SHELL-LIKE LTD AB & M TRANSPORT LTD ABBEY MORGAN…
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Government research conducted by audit, tax and consulting firm, RSM UK has found that commercial landlords are treated equitably in company voluntary arrangements (CVAs). RSM’s research* was commissioned by the government’s Insolvency Service to understand concerns within the commercial property sector on the utilisation and impact of CVAs, concerns focusing on compromises to rental debts…
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SIA Group announced the appointment of asset-based lending industry veteran Paul Beveridge as a Non-Executive Director. Beveridge brings more than three decades of experience to the role, latterly as Managing Director of PNC Business Credit. Under Beveridge’s leadership, PNC Business Credit has grown from a new start-up in 2006 to one of the UK’s leading…
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Two connected companies have been wound-up in court after they abused multiple local authorities to receive covid support loans worth £85,000 they weren’t entitled to. Momz Love Limited and Unique Homes Lettings were wound-up in the High Court in the public interest and the Official Receiver was appointed the Liquidator of the companies. The court…
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Business recovery group Begbies Traynor has warned that the number of zombie companies is set to reach a record high. Zombie firms are usually defined as low-growth or heavily-indebted firms barely able to cover interest payments on company debt. Companies are also grappling with soaring energy bills, diminishing consumer confidence and supply chain shocks caused…
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Shakespeare Martineau has announced that it has launched a new insolvency litigation service called ‘InSolvLit’. The new service will offering support from initial investigations stage through to identifying the claims and pursuing them to trial, the firm’s new service takes the burden off insolvency practitioners and drives forward claims quickly and efficiently. Claims are reviewed…
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A bankrupt from North London has received 8 years of additional restrictions from the Insolvency Service after he applied for bounce-back loan for a bogus business. Salih Ozhot, from Southgate, North London, petitioned for his bankruptcy before being made bankrupt on 13th October 2021. The Official Receiver was appointed as his trustee in bankruptcy before…
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Business advisory firm, Quantuma, has announced that it has partnered with the UK’s first corporate credit ratings advisory service, Lightbulb Credit, to expand the range of support it can offer to the professional advisory community and their clients across the UK. Lightbulb is the UK’s only advisor offering businesses the opportunity to review, better understand,…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales increased by 79.2% compared to May 2021’s figure of 1,014 but dereased by 8.9% in May 2022 to a total of 1,817 compared to April’s total of 1,995. Of the 1,817 registered company insolvencies in May 2022…
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