Credit, Collections & Insolvency News
The former boss of failed outsourcing and construction company, Carillion has been banned by the Insolvency Service from leading a business for 8 years. Richard Howson, who was the Chief Executive Officer of Carillion Plc until 10th July 2017, Carillion collapsed in January 2018 amid debts worth £7 billion, leaving a string of projects in its wake across…
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The Serious Fraud Office (SFO) has brought fraud charges against four individuals, including a former director, who oversaw the financial failure of a chain of almost 200 high street bakeries. The SFO has charged former director and Chief Financial Officer of Patisserie Holdings Plc for 12 years, Christopher Marsh, and his wife, accountant Louise Marsh,…
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The charity behind National Debtline has responded to the Government’s decision to row back on plans to bring insolvency firms under independent regulation, calling the decision disappointing. The Money Advice Trust, which runs the free National Debtline and Business Debtline advice services, warns that the changes do not go far enough to protect people in…
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Insolvency firms face being formally regulated for the first time under reforms to be announced next week that will nevertheless fall short of a pledge to establish a new regulator according to Sky News. The news service says it has learnt that the Insolvency Service, which is part of the Department for Business and Trade,…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales for July 2023 decreased by 20.4% to a total of 1,727 compared to July and decreased by 5.7% compared to July 2022’s figure of 1,831. Business insolvencies increased by 57.6% compared to July 2021 and increased by…
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In July the following administration notices have been issued and advertised in the London Gazette for the following companies: 152 LR LTD 154 LR LTD A & A TRAINING LTD ABERYSTWYTH MARINA LTD ACCLAIM UPHOLSTERY COMPANY LTD ACUMEN CARE SERVICES LTD ADAMO COMMONWOOD MANOR LTD ADAMO RIVERCROFT HOTEL LTD AFFORDABLE FITNESS LTD ART PROJECTS FOR…
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In July Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 20190221 LTD 231 HOSPITALITY LTD 4 FOOD LONDON LTD A & U (LONDON) LTD A TO Z COMPONENTS LTD A.B. HAULAGE LTD ABACUS ENERGY ENTERPRISES LTD ACF CONSULTANTS LTD ACTIVE BRAND CONCEPTS LTD ACUTE ELEVATORS LTD…
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Latest quarterly figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales jumped to 13% in Quarter 2 (Q2) 2023 compared to Q2 2022, and reached the highest level since Q2 2009, Q2 figures were also 8.9% higher than in Q1. The figures show between 1st April and…
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Latest quarterly statistics from the Insolvency Service have indicated that Northern Irish personal insolvencies increased by 4%. In Quarter 2 (Q2) 2023 there were 458 personal insolvencies, 4% higher than the same quarter in 2022. The personal insolvencies comprised 349 IVAs, 47 DROs and 62 bankruptcies. The business insolvencies figures showed that there were 35 company insolvencies…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales for June 2023 was 2,163, this was 27% higher than in the same month in the previous year (1,698 in June 2022). The increase business insolvencies compared to the same month last year was mostly driven by…
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The Insolvency Service has issued a reprimand against the Institute of Chartered Accountants in England and Wales (ICAEW) for regulatory failings. ICAEW is one of the four Recognised Professional Bodies which regulates licenced Insolvency Practitioners in Great Britain. The reprimand relates to failures by ICAEW after restrictions were imposed on Adrian Duncan, an Insolvency Practitioner…
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In May the following administration notices have been issued and advertised in the London Gazette for the following companies: 100+ LOGISTICS LTD 304 CLOTHING LTD 5 CHURCHILL PLACE MANAGEMENT COMPANY LTD 6 BONES LTD ALERCE ADVISORS LTD ALLIANCE TRANSPORT TECHNOLOGIES LTD AMBIVENT LTD ARISHI MEDIA TECHNOLOGIES LTD ASHLEY ELECTRICAL WHOLESALERS LTD ATLAS BUILDING & CIVIL…
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The number of insolvency-related activities in Scotland has reached its highest level this year, according to new research from R3, the insolvency and restructuring trade body. R3’s analysis of data provided by Creditsafe shows there were 122 cases of insolvency-related activity, which includes liquidator appointments, administrator appointments and creditors’ meetings, in Scotland in April. These…
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