Credit, Collections & Insolvency News
Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in August: 10 FLORA LDN LTD 100 CLIFTON PLC 100 WASP LDN LTD 110 HERO HELIPAD LDN LTD 189 SCHOOLHOUSE LDN LTD 1ST ELECTRICAL & FIRE LTD 3HREE 65 SERVICES LTD 8FX LTD A & C…
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In August, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: APPLIANCE GROUP LTD ASSOCIATED STONE GROUP LTD BARDA QUCH LTD BDC AGGREGATES LTD BELIZE LTD BENCHMARK DEMOLITION LTD BILLION LENNY EVENTS LTD BLACK DIAMOND BARS LTD BLUE GERANIUM FLORIST LTD D&B KW DEVELOPMENTS LTD EMC ENGINEERING…
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The Financial Reporting Council (FRC) has issued a formal complaint against KPMG, a former partner and some current and former employees over alleged misconduct. The formal complaint alleges Misconduct against KPMG and several individuals regarding the provision of allegedly false and misleading information and/or documents to the FRC by KPMG in connection with the FRC’s…
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A Peterborough-based mechanics and motor parts supplier has been banned for a total of 25 years after the pair provided false documents to secure £176,000 worth of loans. Adam Hughes received a 13-year disqualification order in the High Court before Judge Barber on 20th July 2021. His business partner, Andrew Wood had signed a 12-year…
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New figures from BDO show almost 32% of mid-sized businesses think they will need to substantially alter their business model to remain viable amid the new post-Brexit arrangements between London and Brussels. The survey of 500 firms showed 36% are prioritising adapting their company to align with the new trading arrangements. This compares with one…
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Latest monthly figures from the Insolvency Service have indicated that business insolvency numbers across England & Wales fell by 9.3% to 1,094 in July 2021 compared to June’s figure of 1,206, and increased by 13.4% compared to July 2020’s figure of 741. Of the 1,094 registered company insolvencies in July 2021 there were 1,007 CVLs,…
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The Government has revealed new insolvency legislation that will protect businesses that accrued debt and arrears as a result of the Coronavirus crisis. Under the new rules, new provisions will be introduced that will ringfence rent debt caused by ‘enforced closures’ and set out a process of binding arbitration to be undertaken between landlords and…
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The Financial Reporting Council (FRC) has fined KPMG £13 million over the firm’s role in the sale of the mattress company Silentnight to the private equity firm HIG. The accounting watchdog also severely reprimanded KPMG and ordered it to appoint an independent reviewer to establish ‘root causes’ of its failings. David Costley-Wood, former Partner and…
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In July the following administration notices have been issued and advertised in the London Gazette for the following companies: 24 LIVE UK LTD ADEO CONSTRUCTION SERVICES LTD ADRECK DIAGNOSTICS LTD ADVANCED GLASS FACADES LTD ALUMINIUM FRANCE INDUSTRIES UK LTD ARVIA TECHNOLOGY LTD AVANTA LONDON LTD BITUMINA INDUSTRIES LTD BRISTOL & LONDON PLC CALVERLEY HOUSE 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 July: “SKELBKITES” ADVERTISING LTD 1 THIRTY3 DESIGN LTD 1ST CALL LOCKSMITHS LTD 1ST CHOICE MANAGEMENT SERVICES LTD 1ST SCAFFOLDING (UK) LTD 2EDDIES TRAVEL SERVICES LTD 3 PIERS BREWERY LTD 5 STAR SITE SERVICES LTD 54…
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Latest quarterly figures from the Insolvency Service have indicated that business insolvency numbers across England & Wales were 31% higher than in Q1 2021 and 4% higher than in Q2 2020. There were 3,116 seasonally adjusted corporate insolvencies in Q2 2021, an increase of 31.4% compared to Q1 2021’s figures of 2,371 and a rise…
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County Court Judgments (CCJs) registered against businesses England and Wales fell by 24 percent in the second half of 2021 (H1 2021), compared to the same period in 2020, according to figures released by Registry Trust. The number of CCJs against businesses fell from 46,117 in H1 2020 to 35,228 in H1 2021. The total…
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The number of debt judgments registered against Northern Ireland businesses fell by more, down 24 per cent from 353 in H1 2020 to 269 in H1 2021. The total value of business judgments fell by a similar degree, 21 per cent, from £1.2 million to £976,602. As a result, the average value of business judgments…
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