Credit, Collections & Insolvency News
Businesses across England and Wales are grappling with the huge business rates burden ahead of the controversial revaluation in April new research reveals. An exclusive investigation by CVS Business Rent & Rates Specialists has found nearly 200,000 businesses were hauled before a Magistrate in 2015/16 for non-payment of their business rates fuelling claims the system…
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The advantages of the fall in the value of sterling post-Brexit may not be able to overcome the other strong headwinds the sector faces, resulting in 1,800 UK hotel companies having at least a 30% chance of going insolvent within the next three years according to Moore Stephens. While a weaker pound may encourage more…
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The number of debt decrees registered against Scottish businesses fell to the lowest recorded level during 2016, according to figures released today by Registry Trust. There were 3,523 business decrees in Scotland during 2016, 24 percent fewer than the previous year. The total value surged to £45.8m, the highest on record, but this was due to…
Read moreThe number of debt judgments recorded in Ireland’s Four Courts fell to a historic low during 2016, according to figures released today by Registry Trust. There were 2,155 judgments registered against consumers in 2016, 38 percent fewer than the previous year and a record low. The total value of consumer debt judgments similarly fell to…
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An overwhelming majority of industry experts believe the UK’s decision to leave the EU will lead to a rise in corporate insolvencies over the next year, according to a new study by R3. A survey of insolvency and restructuring firms also shows that 55 per cent believe their finances “have been hurt” since last June. Insolvency…
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Administration notices have been issued and advertised in the London Gazette for the following companies: 3D RECYCLING LTD 3SIXTY SYSTEMS LTD ABBEY DELIGHT LTD ABC ALPHA BUSINESS CENTRES UK LTD ABC ALPHA BUSINESS CENTRES VI UK LTD ADDITIVE LTD AGRIGUARD LTD ALBERT & MICHAEL HEATH LTD ALL LEISURE HOLIDAYS LTD AMS RETAIL INTERIORS LTD ANFIELD BRECKSIDE…
Read moreWinding up Petitions have been issued and advertised in the London Gazette for the following companies: ADVANCED WATER AND WASTE LTD AGENCY MOBILE (LONDON) LTD ALBUMCARDS LTD APEX STRUCTURES LTD APPLE SERVICES LTD ARMS SECURITY LTD ART REVIEW LTD ASTRO DEVELOPMENTS LTD BARCAM FACADES LTD BENTON PLANT LTD BRIGHTFIRE CONSTRUCTION GROUP LTD BRITANNIA SECURITY & MAINTENANCE…
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Aman Sehgal has joined Keystone Law from Muckle. Sehgal has more than ten years of experience working on high-profile corporate and personal insolvency cases such as multimillion-pound bankruptcies and fraud investigations. He joined Muckle from Bond Dickinson last year and was tasked with building up the contentious work of the firm’s insolvency practice. However, he…
Read moreUK business failures will rise by 5% in the next 12 months as the economic slowdown, rising input prices and increased late payment risks begin to take their toll, according to Euler Hermes. This is in sharp contrast with the rest of the continent, where insolvencies will fall by 4% in Western Europe and 1%…
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The latest Corporate Insolvency statistics from The Insolvency Service have been released. The report shows that the total number of company insolvencies was higher in 2016 than the previous year, primarily caused by 1,796 connected personal service companies entering liquidation on the same date following changes to claimable expenses rules. The underlying number of company insolvencies…
Read moreThe number of Scottish businesses becoming insolvent or entering receivership fell from 218 in the second quarter of 2016-17 to 209 in the current quarter. The latest figures are from Accountant in Bankruptcy (AIB) which reports on the number of corporate insolvencies and member voluntary liquidations logged. As a consequence of the time taken between…
Read moreLeonard Curtis Business Solutions Group (LCBSG) has opened its first Scottish office in Glasgow. The Group’s new Glasgow office is headed up by Stuart Robb who joined LCBSG from a Big Four practice in Scotland where he gained a wealth of experience of the Scottish insolvency market. Stuart has already been joined by a number…
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Azher Quyoom has joined Andrew Jackson as Restructuring and Turnaround Partner. Quyoom joins Bond Dickinson. Mark Pearson-Kendall, managing partner of Andrew Jackson,: “We’ve had an exciting start to the year, with some big developments over the last two months that add real strength and depth to our restructuring and insolvency offering. The valuable expertise Azher…
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