Credit, Collections & Insolvency News
Insolvency and restructuring trade body R3 has responded to the publication of a Government consultation on plans to repay HMRC ahead of pension schemes, trade creditors, and lenders in insolvency procedures, Stuart Frith, President R3, said “The Government’s decision to push ahead with the return of ‘Crown Preference’ is frustrating and misguided. It’s a short-sighted…
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Crowell & Moring LLP has announced that it will strengthen its ability to advise clients on insolvency and restructuring with the addition of Paul Muscutt and Cathryn Williams as partners in the London office. The Partners join on March 5 from Squire Patton Boggs where Williams led the firm’s Restructuring & Insolvency Practice in London.…
Read moreDuff & Phelps has announced that Ben Collett has joined the firm as a Managing Director in its Restructuring Advisory practice. Working across the firm’s Birmingham, Manchester and London offices, Collett will focus on providing advisory services to corporate clients across the UK and Europe. He joins the firm from IMI Precision Engineering, where he…
Read moreRestructuring and Insolvency (R&I) specialist law firms Harrison Clark Rickerbys (HCR) and Sprecher Grier have announced that they will merge. HCR is a full-service firm with eight offices across the country and Sprecher Grier has a significant restructuring and insolvency (R&I) presence in London. The move brings former colleagues back together – Sam Payne, Head of HCR’s R&I team,…
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There was an almost 30 percent increase in the number of adverse county court judgments against incorporated businesses in England and Wales in 2018, according to figures released by Registry Trust. The number of CCJs against incorporated businesses was up by 27 percent at 93,534, though this was counterbalanced by a fall in judgments against…
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Ahead of the Spring Statement next month, the Federation of Small Businesses (FSB) has announced a ‘Fair Pay, Fair Play ‘ campaign as it calls on Government to enlist the help of Non-Executive Directors to help strengthen payment enforcement and adopt Project Bank Accounts in public procurement, as three key reforms that will help end the…
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Begbies Traynor Group the business recovery, financial advisory and property services consultancy, has announced the acquisition of the entire issued share capital of KRE (North East), a Newcastle based insolvency practice. Ian Kings founded the business in the North East under the KRE branding in 2015. In the financial year ended 30 June 2018, the business…
Read moreThe number of restaurants in Scotland going insolvent last year increased by 86.3% according to new analysis of the sector by accountants and business advisers firm French Duncan. The firm has analysed official Insolvency Service statistics and found that annual restaurant failures increased from 73 in 2017 to 136 in 2018 which is equivalent to…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 247 LOGISTICS LTD 2M PRINT LTD 4SPORTS & ENTERTAINMENT UK LTD 7DIGITAL TRADING LTD 88 75 LTD A D REMOVALS (WIGAN) LTD A. LYTHE BUTCHERS LTD ABBEY CONSTRUCTION DESIGN & BUILD LTD ABC LEGAL LTD ACCESS CORPORATE LTD…
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Administration notices have been issued and advertised in the London Gazette for the following companies: 6TH GEAR EXPERIENCE LTD AL UMMAH LTD ALUMINIUM R.W. SUPPLIES LTD AMSPHERE LTD APPLE PANELS LTD APPLEGARTH DENE LTD ARDOR BIOMASS LTD ARDOR ENERGY HOLDINGS LTD ARJO WIGGINS FINE PAPERS LTD ARJOBEX LTD ARJOWIGGINS CHARTHAM LTD ARJOWIGGINS SOURCING LTD AW UK…
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The total number of judgments in 2018 against Irish businesses is at a record low, with business debt down 15 percent on last year. For the seventh consecutive year, the number of business judgments issued declined; 575 judgments were registered in 2018, a record low. Compared to 2017, the total value of business judgments fell…
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The total value of decrees against Scottish businesses rose in 2018 compared to the previous year. But the total value of decrees against companies – the generally larger incorporated businesses – dropped to the lowest annual figure on record, according to figures released by Registry Trust. There were 3,057 decrees issued against businesses in Scotland during…
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The number of businesses in ‘significant’ financial distress now stands at 481,000, leaping by 15,000 during Q4 2018, after a winter of uncertainty, according to the latest Red Flag Alert research from Begbies Traynor. The hardest hit sector was real estate and property, which not only saw a 7% (3,134) increase in the number of…
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