News

Arrow Global agrees terms on Italian acquisition

6th December 2016 Consumer Collections |

Arrow Global Group has announced that it intends to enter the Italian market having agreed terms to acquire Zenith Service SpA (‘Zenith’), a leading servicing business in the Italian structured finance market, for an enterprise value of €17m. The transaction is subject to regulatory approval by the Bank of Italy. Zenith has a strong and…

Irish SMEs wait the longest to be paid says global study into small businesses

5th December 2016 Commercial Credit Management |

Ireland’s SMEs are waiting the longest for payment from customers, according to the inaugural Global Business Monitor report from international business funder, Bibby Financial Services (BFS). The global study surveyed business owners in the USA, Germany, UK, Poland, Hong Kong and Ireland and found that Irish SMEs wait an average of 38 days for payment.…

ICO appoints new Deputy Commissioner

5th December 2016 Consumer Collections |

The Information Commissioner’s Office (ICO) has appointed Rob Luker as Deputy Commissioner (Policy). Luke will join the ICO on 30th January. He was previously British High Commissioner to Malta, and has also served overseas in Brazil and Paris as well as in policy roles at the Foreign & Commonwealth Office in London. Information Commissioner Elizabeth…

Money worries ‘put Christmas at risk’ for up to five million Britons

5th December 2016 Consumer Collections |

Five million Britons suffer from money worries and stress in the run up to Christmas, and one in three adults are putting Christmas presents on credit this year, according to new research from National Debtline, run by charity the Money Advice Trust. The research, based on a poll of more than 2,000 British adults conducted online…

CICM welcomes draft regulation on payment practices

5th December 2016 Commercial Credit Management |

The Chartered Institute of Credit Management (CICM) has welcomed draft regulations that will require large companies to publish details on their payment practices, and the recognition of the Prompt Payment Code (PPC) as the ‘gold standard’ in the fair treatment of suppliers. Philip King, Chief Executive of the CICM, believes that Government has clearly listened…

Castle Trust Capital to acquire Omni Capital Retail Finance

5th December 2016 Consumer Collections |

Castle Trust Capital plc (CTC) has entered into an agreement to acquire Omni Capital Retail Finance Limited “Omni Capital). Completion of the transaction is expected during the first quarter of 2017 and is subject to the approval of the Financial Conduct Authority. Sean Oldfield, CTC’s chief executive officer, said: “The Omni Capital Retail Finance business…

Rise in debt fuelled by credit card spending

5th December 2016 Consumer Collections |

The number of British consumers who have taken on more debt over the last five years has risen sharply to 37%, up from 27% just a year ago, according to a UK-wide survey by Arrow Global. The findings come from a survey of 2,008 consumers with debt, including 804 debt defaulters (borrowers have been late with…

First social Peer to Peer platform targets launch

2nd December 2016 Commercial Credit Management |

A new peer to peer lender Flender hopes to launch in 2017. Flender enables consumers and businesses to raise finance through their social circles – be they friends, family, customers or social network connections. The company has launched a crowdfunding campaign for a new platform that enables users to borrow and lend money in both the traditional…