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Corporate


R3 names new president

Insolvency trade body R3 has announced Phillip Sykes, head of Baker Tilly’s London restructuring practice, as its new president. Read full story


HMRC halves its DCA spend

HMRC has halved its spend on debt collection agencies (DCAs) during the past year, with £6.8m spent on them in 2014 compared to £14.8m in 2013, according to new research. Read full story


The I&R Awards 2015: Why we’ve changed the name

The insolvency profession’s most prestigious awards scheme has undergone a name change – to The I&R Awards 2015: Championing best practice in Restructuring, Recoveries and Rescue. Read full story


Lawyers recover £5m from fraudsters’ Caribbean accounts

Lawyers have recovered £5m of insolvent fraudsters’ cash from a Caribbean bank, in actions that may have been impossible had it not been for a government policy change. Read full story


Chantrey Vellacott to merge with Moore Stephens

Mid-tier accountancy firm Chantrey Vellacott is to merge with Moore Stephens, it has been announced today. Read full story


Customer redress and fines costs banks nearly £40bn

Soaring levels of customer remediation, conduct failings and fines have cost Britain’s biggest banks £38.7bn, according to a KPMG report. Read full story


Begbies Traynor acquires Broadbents

Insolvency and restructuring firm Begbies Traynor has acquired the trade and assets of Broadbents Business Recovery Services, a Yorkshire-based insolvency practice. Read full story


Leonard Curtis buys Shipley practice

Insolvency and corporate recovery group Leonard Curtis Business Solutions has acquired the insolvency caseload of chartered accountancy and advisory firm Shipleys LLP. Read full story


Budget 2015: Treasury to net £25bn via loan sales

The Treasury will net £25bn by selling off mortgages from the nationalised Northern Rock and Bradford & Bingley businesses, along with the student loan book. Read full story


Court fees rise up to 600%

Civil court fees for money claims over £10,000 have risen to five per cent of the value of the claim. Read full story


AlixPartners completes Zolfo Cooper acquisition

Advisory specialist AlixPartners has completed the acquisition of insolvency and accountancy firm Zolfo Cooper, in a deal thought to be worth up to £65m. Read full story


Insolvency fees to be shown upfront

Insolvency practitioners will have to provide upfront estimates of the cost of working on insolvency cases, under new rules announced today. Read full story


MoJ caves under pressure to help creditors

The government has caved under pressure to change a policy which will ensure that an estimated £160m can be returned to creditors from insolvencies. Read full story


Trade bodies unite to fight 'anti-creditor’ policy

Justice minister Chris Grayling is under mounting pressure to rethink Legal Aid changes that trade groups fear will cost businesses and taxpayers £160m. Read full story


Aldermore to raise £75m via float

Challenger bank Aldermore has revealed full details of plans to raise £75m by floating on the London Stock Exchange next month. Read full story


South Square sets the bar for cross-border insolvency

The Fourth Edition of Cross-Border Insolvency has been published by Bloomsbury Professional, offering an exhaustive guide to the law relating to international insolvency events. Read full story


Debt management firm Spencer Hayes in pre-pack sale

Blackburn-based debt management firm Spencer Hayes Limited has been sold out of administration through a pre-pack deal. Read full story


Begbies announce H1 2014 results and Eddisons acquisition

Begbies Traynor has today (12 December) announced revenues of £20.8m for the first half of 2014, a year-on-year drop of 3%. Read full story


Homebase to close one in four stores

The owner of DIY retail chain Homebase has announced it is to close one quarter of its stores, putting over 4,000 jobs at risk. Read full story


Caterham F1 manufacturer enters administration

The Leafield-based manufacturer of the Caterham Formula 1 team cars has entered administration. Read full story