Credit, Collections & Insolvency News
The number and total value of judgments registered against Irish businesses saw large falls in 2020 compared to 2019, figures released by registrar Irish Judgments show. Judgments against Irish businesses fell less, by 33 percent, from 676 to 455. The total value registered against businesses fell by 51 percent, from €13.3 million to just €6.4…
Read more
The number of County Court Judgments (CCJs) registered against businesses in England and Wales fell 39 percent from 126,731 in 2019 to 77,139 in 2020, according to figures released by Registry Trust. The total value of CCJ debt owed by businesses fell by nearly 20 percent, from just under £401 million to £322 million. The…
Read more
Business advisory firm Quantuma has completed a merger with Essex-based business management consultancy Aspect Plus, to further strengthen its South East presence. This will be the firm’s first move into Essex and takes its number of UK offices to 18 and 22 globally, which include its overseas offices in Cyprus (Nicosia and Paphos), Mauritius and…
Read moreBegbies Traynor has announced two new appointments. Andrew Little joins as a Partner, working across the North East and Martyn Shakespear joins as a Director in the Corporate Solutions team in the East Midlands. Little has 30 years’ experience as an ICAEW chartered accountant and moved into insolvency in 2005. He has spent the last…
Read more
Business restructuring specialist Clarion has announced two new appointments to its specialist Insolvency Litigation with the appointments of Emma Lowe as Legal Director and Cat Tanham as Associate. Lowe is an experienced commercial litigator with a strong track record advising UK and international clients on high-value commercial disputes. After qualifying in 2006, she went on…
Read more
Analysis by Purbeck Insurance Services shows that owners of SMEs have more than £1.2 billion of personal liabilities linked to emergency pandemic support loans, with 1,587 directors agreeing to such terms when taking on credit through the Coronavirus Business Interruption Loan Scheme (CBILS). The report, which comes after a Freedom of Information request from the…
Read more
New data from insurance specialist Euler Hermes has predicted that 2021 is likely to bring a flood of corporate insolvencies throughout the world’s largest economies. The company points out that Q4 in Europe is likely to be the time when the surge in business insolvencies reaches its zenith. Whilst insolvencies in the US will rise…
Read more
Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in January: 365 PRODUCTIONS (UK) LTD 55 PIXELS LTD A & C MOTOR SERVICE LTD A B FOOD TECHNOLOGY SERVICES LTD A J CONTRACTS AND DEVELOPMENTS LTD A MCCULLEY CONSTRUCTION & CONTRACTING LTD A.R.G. (MANSFIELD) LTD…
Read more
In January, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: ABACI PROCUREMENT LTD AMAZON CREEK LTD ASIANA LTD AVERY HOMES RH LTD BROOK TRADE BRYMAC (LONDON) LTD C7 BRANDS LTD CRANHAM CURTIS LTD DISCO RETAIL LTD EBULLIO INVEST LTD EBULLIO RETURN SPECIAL PURPOSE VEHICLE LTD ECOMMODITIES…
Read more
In January the following administration notices have been issued and advertised in the London Gazette for the following companies: AH SCARBOROUGH HEALTH PARK LTD ASHRIDGE CONTRACTORS LTD AVON VALLEY PRECISION ENGINEERING LTD AVPE INVESTMENT LTD BAUMOT UK LTD BLACK HANGAR STUDIOS LTD BRACKNELL PROPERTY OPCO LTD CONDER ALLSLADE LTD COVRAD HEAT TRANSFER LTD CREATIVE DIGITAL…
Read moreA report from EY shows that the number of companies at risk of insolvency has doubled in the last 12 months. With 583 profit warnings last year, EY says 10% of FTSE 350 firms issued three or more profit warnings, noting that typically up to one in five firms that issue at least three warnings…
Read more
Opus Business Advisory Group has announced that it has opened a new office in Nottingham. The Group provides restructuring and insolvency, corporate finance support. The Group has also announced the appointments of Louise Freestone and Paul Mallatratt, two experienced local restructuring & insolvency specialists, to open the Group’s latest office in Castle Gate, Nottingham. With…
Read more
Latest statistics from the Insolvency Service have indicated that there were 12,557 underlying corporate insolvencies in England and Wales in 2020, a fall of 27.1% from 2019’s figure of 17,224. The total number of registered underlying company insolvencies in 2020 decreased to the lowest annual level since 1989. This was largely driven by a low…
Read more