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Industry > Firms

Small business commissioner to tackle late payment

The government has unveiled plans to appoint a small business commissioner to tackle payment disputes and unfair practices. Read full story

Payday lender to provide £20m in redress

Payday lender Cash Genie will provide £20m in redress to more than 92,000 customers, after the regulator discovered failures in its debt collection and communication practices. Read full story

MoJ proposes new court fee hikes

The Ministry of Justice (MoJ) has proposed an increase in the maximum fee for money claims from £10,000 to at least £20,000. Read full story

RBS offloads £400m portfolio

The Royal Bank of Scotland Group (RBS) has agreed to sell a portfolio of loans to an entity funded by Deutsche Bank and funds affiliated with Apollo Global Management, a specialist in alternative investment management. Read full story

Serious Fraud Office faces 34% budget cut

The Serious Fraud Office (SFO) faces a 34 per cent budget cut during the next financial year, despite getting more defendants convicted and opening 16 new investigations. Read full story

Crackdown on horrible bosses as banning orders jump

The number of disqualification orders made against criminal company directors in Great Britain has jumped 83 per cent in a year, a new study shows. Read full story

Begbies Traynor posts £700,000 loss, as corporate insolvencies fall 14%

Begbies Traynor has posted a pre-tax loss of £700,000 for the 12 months to April 30 2015 – a period in which corporate insolvencies have fallen sharply. Read full story

Wragge Lawrence Graham & Co unveils Gowlings merger

Legal firm Wragge Lawrence Graham & Co is joining forces with Canadian solicitors Gowlings to create an international law business. Read full story

SUMMER BUDGET: HMRC gets a weapons upgrade

The Summer Budget has confirmed plans to give HMRC powerful new tools to recover unpaid tax –including direct recovery from personal accounts. Read full story

Menzies and Harris Lipman announce merger

Accountancy firm Menzies is merging with Harris Lipman in a deal that both companies claim will create a partnership with £40m of fee income. Read full story

FCA: “Debt management firms still failing UK consumers”

The debt management sector is still failing the UK’s most vulnerable consumers, according to a review published today by the Financial Conduct Authority (FCA). Read full story

Bank executives face 10-year bonus clawbacks

Bank executives face bonus clawbacks of up to a decade for conduct failures, as part of new remuneration rules announced by the UK’s two financial regulators. Read full story

Insolvency Service closes £4.5m credit scam

A company that ran a £4.5m scam by fraudulently obtaining credit to provide text message services has been forced out of business. Read full story

I&R Awards judges share their tips on entries

I&R Awards judges from the UK’s largest insolvency firms and recognised professional bodies (RPBs) have shared tips with readers on how to write winning entries. Read full story

Begbies launches worldwide advisory group

Professional services firm Begbies Traynor Group has announced the launch of BTG Global Advisory – an international alliance of independent insolvency, restructuring and financial advisory firms operating around the world. Read full story

Lloyds’ bad debt losses drop nearly 60%

Lloyds Banking Group has revealed that its impairment charge for the first quarter of 2015 has fallen 59 per cent to £177m, compared to a year ago. Read full story

Corporate insolvencies at lowest level since 2007

Company insolvencies in England and Wales have fallen to the lowest number since the end of 2007, according to the Insolvency Service. 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

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