Credit, Collections & Insolvency News
Lowell GFKL Group, has announced its latest company results for its third quarter ended 30 September 2016. Commenting on the results, Colin Storrar CFO said: “I’m pleased to announce the delivery of impressive results by the Lowell GFKL Group. We have seen positive momentum during the third quarter with significant growth in both Cash EBITDA and 120…
Read moreKPMG has announced that it has appointed three senior heads to jointly lead its global Restructuring practice. Current Interim Global Head of Restructuring Richard Heis will now lead KPMG’s Global Insolvency practice, while Angel Martin has been named Global Head of Financial Restructuring. Completing the trio of appointments, Mark Raddan has been appointed Global Head of…
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Extra Energy has come bottom of Citizens Advice’s latest energy complaints league table for the third consecutive quarter – with customers continuing to report billing problems. The firm has ranked lowest in the table – which measures how well energy suppliers are handling customer complaints – since the start of 2016. However Extra Energy has…
Read moreCitizens Advice has responded to the Chancellor Philip Hammond’s Autumn Statement. Gillian Guy, Chief Executive of Citizens Advice, said “This Autumn Statement tackles some of the problems facing struggling families. It is good that government is willing to take action on failing consumer markets, including energy and letting agents, and tackle issues around pension scams.…
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Paragon Bank has announced plans to launch a new range of specialist residential mortgages. In a report for the year ending 30th September 2016, the bank revealed that it intended to follow the launch of its development finance proposition and two acquisitions in the asset finance market with new specialist residential products in the first…
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Court Enforcement Services have appointed Joe Chapman as Enforcement Manager. Chapman joins Court Enforcement Services from Marston. For the last 6 years, he worked as one of their on-street audit and fraud investigators. Chapman is also a certificated Enforcement Agent with a wealth of on-street experience. Chapman will report directly to Daron Robinson, Operations Director. Robinson…
Read moreSpring Finance has promoted Kate Hill to Underwriting Manager. Hill has been an underwriter at Spring Finance since joining the company in July 2015. She previously worked at packagers The Loans Engine and Loans Warehouse, as well as Barclay’s, during the first 13 years of her career. Hill will be assisted by new underwriter Penny…
Read moreThe European Commission’s new Directive on corporate insolvency reform is a welcome step towards improving business rescue procedures across Europe, says insolvency and restructuring trade body R3. R3 adds that the UK’s world-class insolvency and restructuring regime already meets many of the standards in the new Directive, while the government is currently carrying out its own…
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A new study from Citizens Advice reveals the challenges faced by “just about managing families” and says many of the problems are ‘fixable’. The report is based on new analysis of the problems faced by the 700,000 working people helped by Citizens Advice between October 2015 and September 2016. It identifies the most common challenges…
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Research from a YouGov poll has revealed that almost half (49 per cent) of people in Scotland admit to being in debt with many of these feeling the strain, just weeks before Christmas. The poll, which was commissioned by Scotcash and Scotwest Credit Union, revealed almost 1 in 2 (49 per cent) of adults surveyed…
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New rules which will guide insolvency practice from April 2017 have been published. Modernised and consolidated insolvency rules have been laid in Parliament and will come into force on 6 April 2017. The new rules replace the Insolvency Rules 1986 and their 28 subsequent amendments. They have been developed working with the insolvency profession and have…
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Christmas spending is set to hit £19 billion this year, with Brits ignoring the Brexit blues and splashing out an average of £415 each in the run-up to Christmas – 4.5 per cent more than the same time last year according to research by MoneySupermarket. The research predicts that: Brits will splash out £19 billion this year…
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Research from the Federation of Small Businesses (FSB) has revealed that late customer payments are costing the UK economy £2.5billion a year, and are leading to 50,000 SME closures annually. Aamar Aslam, CEO of alternative lending firm Funding Invoice has commented on the news, urging the government to appoint the long-awaited Small Business Commissioner, promised…
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