The latest news on Corporate Recovery

New rules to tackle disqualified directors

September 29, 2015|By Financial Saviour

Hot on the heels of rogue directors, the Insolvency Service has been quick to reiterate to creditors the new service starting next month that provides compensation when directors are disqualified.

In July, Financial Saviour reported the news that the number of disqualification and banning orders made against company directors in the UK had risen 83% in the 12 months from…

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Mortgage suspensions at record high

September 10, 2015|By Financial Saviour

It’s no surprise that many people struggle with their mortgage payments, but, according to a study published at the end of this summer, a record proportion of these people are now being allowed to cut or suspend these payments.

Accountancy firm Moore Stephens studied data from the Bank of England as part of their investigation into the number of people…

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Seaside towns an insolvency hotspot

August 20, 2015|By Financial Saviour

We’re all familiar with the tune of ‘Oh I do like to be beside the seaside’, but it’s perhaps a case of the opposite being true for some residents of England’s coastal towns and cities where personal insolvency peaked throughout 2014.

According to the Insolvency Service, many seaside resorts, along with Merseyside and the North East of England, were the…

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Corporate insolvencies continue to fall

August 7, 2015|By Financial Saviour

2015 continues to be a big year for the drop in corporate insolvencies in England and Wales, with just under 4,000 companies entering formal insolvency in this year’s second quarter.

Statistics from the Insolvency Service show that exact figure to be 3,908, down 144 from the 4,052 companies who entered formal insolvency in the first quarter of 2015 between January and…

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