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Industry


RBS boss refutes bank is sinking SMEs

Royal Bank of Scotland (RBS) chief executive Ross McEwan has rejected claims the bank is systemically distressing small businesses for profit, following a report from government advisor Lawrence Tomlinson. Read full story


Fan-owned structures could rescue distressed football clubs

Community interest company (CIC) structures could be the answer to financially distressed football clubs, a new report has found. Read full story


UK coastal towns worst for bankruptcies

Coastal towns are falling begin the rest of the UK economically, according to new research from Wilkins Kennedy, which shows the top five towns with the highest bankruptcy rates are all seaside resorts or ports. Read full story


SME owners risk bankruptcy to keep businesses afloat

25% of small and medium sized enterprise (SME) directors have used personal finance sources of funding to support their business, according to new research from Experian. Read full story


Father and son directors agree to 11 year bans

The directors of a Manchester-based toy wholesaler have accepted voluntary bans of 11 years each, following an investigation by The Insolvency Service. Read full story


Some debtors are more equal than others

Despite an industry-wide focus on fair customer treatment, new figures from the Debt Resolution Forum (DRF), a specialised body for debt advisors, suggest some concerning discrepancies. Read full story


Banned director jailed for 13 months

A director who used a series of different names and ignored four counts of disqualification has been jailed for 13 months by Manchester Crown Court. Read full story


Six year disqualification for plant hire director

The director of a Warwick plant hire firm has been disqualified from acting as a company director for six years for transferring company funds out of creditors’ reach.

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Hector Sants resigns from Barclays compliance role

Barclays has announced the resignation of its head of compliance and government and regulatory relations following a period of sick leave. Read full story


Wilkins Kennedy announces CW Fellowes merger

Chartered accountancy and business advisory firm Wilkins Kennedy LLP has announced the completion of its merger with chartered accountancy firm CW Fellowes Ltd. Read full story


Beavis Morgan hires Simon Belton for structured finance business

BM Structured Finance, part of accounting and advisory firm Beavis Morgan, has appointed Simon Belton as director of broking. Read full story


Late payments "a greater threat" than insolvency

Late payments have taken over from insolvency as the greatest reason for UK claims notifications during the first three quarters of 2013, according to new figures from Coface UK. Read full story


Clarification on implications of RSA bond wording

In the headline of an article dated 30th October, Insolvency News claimed that IPs would have to resign from thousands of estates unless rules concerning the wording of Royal & Sun Alliance (RSA) bonds were changed. Read full story


First British Business Bank funds issued

Business Secretary Vince Cable has announced the first funding allocations from the new British Business Bank (BBB), totalling £45m. Read full story


Number of publishing insolvencies climbs 42%

The number of UK publishers entering insolvency has jumped 42% in the last 12 months, according to new figures from accountancy firm Wilkins Kennedy. Read full story


Corporate liquidations down in Q3

The number of overall corporate liquidations in England and Wales dropped 2.6% during the third quarter of 2013 compared to the previous quarter. Read full story


Retail bounceback makes for positive distress figures

Levels of ‘critical’ financial distress among UK businesses have dropped for the second consecutive quarter, according to the most recent Red Flag Alert issued by Begbies Traynor. Read full story


British Property Foundation warns landlords over pre-packs

The British Property Foundation (BPF) has today (25 October) warned landlords over “increasing manipulation of the insolvency system”, with particular focus on pre-pack administrations. Read full story


Corporate insolvencies continue to decline

Corporate insolvency rates fell for the fifth consecutive month in September, according to the latest figures from Experian. Read full story


London tailor stitched up by Insolvency Service

The director of a Fulham-based bespoke tailor has been disqualified from acting as a company director for 10 years for failing to maintain proper accounting records. Read full story