Credit, Collections & Insolvency News
The number of corporate insolvencies seen across the UK more than halved during the first six months of 2021, as the array of government Covif-19 support measures and a supportive lending community continued to help businesses trade their way through the pandemic. Analysis of notices in The Gazette by Interpath Advisory reveals that a total…
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Trade credit insurer Atradius has announced promotion within its underwriting team. Ruby Hartery has been promoted to the position of Senior Underwriter, heading up the retail and services team at Atradius, located at its UK headquarters in Cardiff Bay. Hartley first joined Atradius as part of the credit insurer’s internship programme, taking a sandwich placement…
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Business confidence jumped in June to its highest point since 2005, as businesses look ahead to the lifting of lockdown restrictions later this month, according to the latest Business Trends report from accountancy and business advisory firm BDO. The BDO Optimism Index moved 2.74 points from 109.71 in May to 112.45 in June, marking the fifth consecutive month…
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RVU, owners of Uswitch, Confused.com and Money.co.uk has agreed to acquire Mojo Mortgages. Mojo, based in Manchester, is a free online mortgage broker, delivering personalised mortgage recommendations through a hybrid of smart tech and human mortgage experts. The growing company of over 60 employees has won numerous industry awards for innovations such as Mortgagescore, an…
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Intelligent decisioning technology provider LendingMetrics has announced two new sales appointments. The company behind the multi-award-winning automated underwriting Auto Decision Platform (ADP) has appointed Callum McNeice as Account Manager and Emma Worley as Sales Operations Coordinator. They join the Fareham-based company’s workforce that is being expanded in line with a fast-increasing client base. The company’s…
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Opus Restructuring & Insolvency has announced a new Partner appointment. George Dale, a prominent member of the Scottish restructuring and insolvency community, has joined Opus Restructuring & Insolvency as a Partner. Opus established an initial presence in Scotland, with the appointment of Mark Harper as Partner, earlier this year. Dale will open an office in…
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The Resolution Foundation said wealth had increased during lockdown as a result of a lack of spending opportunities and rising house prices. The Foundation’s research has has found that the UK’s wealth gap has ballooned during the pandemic with the richest 10% gaining £50,000 on average, dwarfing increases for the poorest third of the population, according…
Read moreGrowing businesses are led by leaders that know about and regularly talk about, technology, according to new findings from Thoughtworks. Surveying 969 CEOs and CIOs across 12 different countries, the research revealed that among businesses that anticipated growth in 2021, three-quarters (74%) were led by leaders that kept fully up-to-date with the latest technology developments,…
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New research by Money.co.uk has shown that 18-24 year olds are more likely to use Buy Now Pay Later schemes (54%) than a credit card (49%) The research follows on fromt the news that Buy Now Pay Later (BNPL) transactions are set to exceed 1.5 billion transactions by 2026. Money.co.uk’s latest ‘Shop Now, Stress Later’…
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The Financial Conduct Authority (FCA) has fined Lloyds Bank’s insurance arm £90,688,400 (£90 million) for sending insurance renewal letters to customers suggesting they were getting a ‘competitive price’ without backing up the claim. The FCA says that Lloyds failed to ensure that language contained within millions of home insurance renewals communications was clear, fair and…
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EY-Parthenon has announced the appointment of four senior promotions in its Turnaround and Restructuring Strategy (TRS) team. George Mills and Alex Williams, who specialise in working with creditors and borrowers in stressed and distressed situations, have been promoted to Equity Partners. Dillon Marambe, specialising in liquidity and working capital, and Tim Vance, who also specialises…
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DF Capital has announced that it has appointed Richard Baxter as its Director of Credit, leading the business’ first line credit underwriting and sanctioning, portfolio management and audit teams. As part of DF Capital’s senior leadership team, Baxter will report into CEO Carl D’Ammassa and will be based at the company headquarters in Manchester. Baxter…
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The Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) and Bank of England (the regulators) are seeking views on regulatory plans to improve diversity and inclusion in financial services. In a discussion paper, the regulators have revealed policy options including, among others, the use of targets for representation, measures to make senior leaders directly accountable for…
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