Credit, Collections & Insolvency News
Latest figures from Accountant in Bankruptcy (AiB) have indicated that business insolvency numbers (liquidations and receiverships) in Scotland increased in May by 82% In May 2022 there were 93 company insolvencies registered in Scotland, 82% higher than May 2021 and 19% higher than in May 2019. This was comprised of 19 compulsory liquidations, 68 CVLs, and…
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Latest statistics from the Insolvency Service have indicated that Northern Irish business insolvencies and personal insolvency figures declined in the latest monthly figures round-up for May. In May 2022 there were 20 company insolvencies registered in Northern Ireland, 2.6 times as many as in May 2021, but 50% lower than May 2019. This was comprised…
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Litigation funding specialists, Apex Litigation Finance has announced the appointment of Stephen Allinson, Solicitor and Licensed Insolvency Practitioner, as their new Head of Legal. Allinson is a credit, debt and insolvency specialist who has worked in the field since 1987. His extensive background also includes setting up his own consultancy and before that he was…
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Directors of distressed building firm have been disqualified from running businesses by the Insolvency Service after abusing government support they were not entitled to. David Garry Harrison and Paul Hudson both received 11-year bans after they did not dispute they caused their company to apply for £100,000 worth of bounce back loans it was not…
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Former professional footballer Danny Guthrie has been given 6-year bankruptcy restrictions by the Insolvency Service. Guthrie played football professionally for several English football clubs at a senior level. In May 2019, Guthrie borrowed £75,000 from a friend to help him pay his household expenses, promising to repay the loan with funds raised from selling a…
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The Institute of Chartered Accountants in England and Wales (ICEAW) has announced it has appointed Julie Penny as its new President for 2022/23 Penny will succeed William Brooks as ICAEW president and will serve a one-year term until 2023 when she will hand over to Mark Rhys. Julia was first elected to ICAEW Council in…
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Restructuring and insolvency firm, Moorfields Advisory, has announced the appointment of Milan Vuceljic as Partner to strengthen its partnership team and continue its expansion. Vuceljic has been with the firm for 2 years and leads the firm’s special investigations, personal and corporate restructuring teams. Vuceljic has a high level of technical knowledge, particularly in using…
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A poll by PayPal UK saw two-thirds of SME bosses who have been running their business since before the pandemic say the last two years have been the most challenging for their business. Almost half (47%) fear that the next 12 months could prove even more difficult, with 12% saying there is a strong possibility…
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In May Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 1ST ADVANCED SCAFFOLDING SYSTEMS LTD 9 WINDMILL STREET LTD A & R PLUMBING AND HEATING LTD A A RECLAIM LTD A CUT ABOVE CONSTRUCTION LTD A.C.E. (SOUTH WEST) LTD ABU DESIGN & BUILD LTD ACES AUTO…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in May: 80 20 VENTURES LTD A A PROPERTY LTD A K GILBERT LTD A W PROPERTIES (MIDLANDS) LTD A. & R. LLOYD (CHESTER) LTD A.F. DISCOUNT JEWELLERY LTD A.W PHILLIPS LTD A1 FINANCIAL SERVICES LTD…
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In May the following administration notices have been issued and advertised in the London Gazette for the following companies: A.C. CANOE PRODUCTS (CHESTER) LTD A1 SUPA SKIPS LTD ALL OUTDOOR LTD ALMA DE CUBA HOTEL LTD AMBIENT FOODS LTD ANDRON HANDLING LTD ASHCROFT DEMOLITION (CUMBRIA) LTD BARLOWS SERVICES LTD BAYSCAPE RESIDENTIAL (NUMBER 2) LTD BENTLEY…
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The Government has announced that it will revamp the UK’s corporate reporting and audit regime through a new regulator, with the aim of providing greater accountability for big business and addressing the dominance of the main audit firms. The Business Secretary announced the plans to provide a new effective corporate reporting and audits to ensure…
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Allianz Trade has predicted that business insolvencies will rise by 37% this year with the UK is set to become the first big European economy to reach pre-pandemic levels of corporate insolvencies. The research suggests the surge in insolvencies will be driven by the withdrawal of Covid support schemes, rising commodity prices, supply chain disruption,…
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