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Corporate > Corporate Recovery

Vertu liquidators set to repay staff and plug £500k pension gap

Liquidators of Vertu, the manufacturer of luxury mobiles, have recovered enough funds to pay the majority of employees’ preferential creditor claims – and replenish a large part of a £500,000 hole in their pensions. Read full story

Shortlist revealed for TRI Awards 2017, as scheme reaches 10-year milestone

Credit Strategy has revealed the full shortlist for the 2017 Turnaround, Restructuring and Insolvency (TRI) Awards, sponsored by Capa, as the scheme celebrates its 10-year anniversary. Read full story

Williams & Glyn costs hit £1.5bn as RBS posts loss

RBS has admitted that costs relating to the Williams & Glyn sale have hit £1.5bn – and that the divestment will miss its deadline. Read full story

Atradius snaps up competitor

Trade credit insurer Atradius has acquired business intelligence specialist Graydon, in a move to boost its collection and credit information services. Read full story

Debt collection agency directors banned for 22 years

Two men who ran a debt collection agency have been disqualified from acting as directors. Read full story

Shortlist revealed for TRI Awards 2016 can today reveal the full shortlist for the 2016 Turnaround, Restructuring and Insolvency (TRI) Awards, sponsored by Capa, as the rebranded scheme returns for its ninth year. Read full story

Brexit: How creditors may be affected in corporate insolvencies

After Brexit, creditors may be impacted when assets of insolvent companies are sought for recovery in Europe. Read full story

Brexit: UK GDP could be slashed "one to three percent," plus more reaction

The UK’s gross domestic product (GDP) – a key indicator of economic growth – could be cut by up to three percent in the next two years due to Brexit, according to a credit risk specialist. Read full story

Brexit: The UK's financial institutions react

As the UK’s constitution starts to map out the formative steps after the EU referendum result, the UK’s financial institutions and trade bodies have reacted. Read full story

Proposed 90-day moratorium for failed firms may hit creditors

The move to a model similar to the USA’s chapter 11 process for UK businesses heading towards insolvency could have serious consequences for creditors, a trade body has warned. Read full story

Swansea and Southampton top premier league of payments

Swansea City and Southampton are the two best teams in the Premier League when it comes to paying invoices on time and having a good credit rating with suppliers. Read full story

TRI Awards launched for 2016 has today launched the categories and criteria for the Turnaround, Restructuring and Insolvency (TRI) Awards – the first step in a major rebrand for the scheme. Read full story

Shortlist announced for Credit Awards 2016

The finalists for the 2016 Credit Awards sponsored by TDX Group have been announced, following an extensive shortlisting process across the scheme’s 27 categories. Read full story

Debt recovery and asset valuation firm in administration

A company that specialises in debt recovery and asset valuation has gone into administration, with RSM Restructuring Advisory being appointed as administrators. Read full story

Leonard Curtis saves 1,500 jobs at Blue Inc and Officers Club

Leonard Curtis Business Solutions Group has secured the future of 1,500 employees at A Levy & Son, which trades as Blue Inc and Officers Club, by advising on a restructuring process. Read full story

Corporate insolvencies fall 10 percent

The number of companies going bust in England and Wales has fallen 10 percent year on year, according to The Insolvency Service. Read full story

GT Law becomes latest legal firm to collapse

GT Law Solicitors, the trading name of First Stop Legal Services, has filed for administration in the latest of a string of legal firm insolvencies. Read full story

Law firm merger follows pre-pack administration

London-based law firm Jeffrey Green Russell has merged with legal and consultancy group Gordon Dadds, following a pre-pack administration. Read full story

Insolvency Service rings in changes to deter rogue directors

The Insolvency Service has reminded creditors of a service starting on October 1 that provides compensation when directors are disqualified. Read full story

Late payment behind £2.6bn in overdue VAT

UK businesses now owe almost £2.6bn to HMRC in overdue VAT, as late payment from clients forces them to delay paying tax, a finance provider has claimed. Read full story