The government has announced that the Autumn Budget 2024 will be delivered by Chancellor of the Exchequer Rachel Reeves on Wednesday 30 October 2024. The first Budget from the new Labour government is anticipated to announce some substantial...
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An ex-electrician faces over a decade of constraints after a significant misuse of a pandemic aid scheme meant to assist businesses through tough times. Andrei Adrian Moise, a 35-year-old from Mitcham, Surrey, secured a Bounce Back Loan of £45,000...
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Company Insolvencies The insolvency statistics released for April 2024 show that of the 2177 registered company insolvencies: Company insolvencies in April 2024 consisted of 300 compulsory liquidations 1,715 creditors’ voluntary...
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The insolvency statistics released for March 2024 show that of the 1785 registered company insolvencies: 1,436 were CVLs which is 29% lower than in March 2023 228 were compulsory liquidations which is 25% lower than March 2023 There...
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The Insolvency Service has taken robust action against company directors who misused COVID-19 financial support schemes, banning 831 directors in the 2023-24 financial year. This represents an increase of over 80% from the previous year. The...
Read more...Of the 2,102 registered company insolvencies in February 2024: There were 1,707 CVLs which is 12% higher than in February 2023 217 were compulsory liquidations which is 35% higher than in February 2023 There were 166...
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A restructuring plan is a recently introduced court-supervised process that allows financially distressed companies to restructure their liabilities and reach a binding compromise with their creditors and/or shareholders. It must have approval from...
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A former director has been banned from being a company director for 14 years after the Insolvency Service found he had taken £57 million from investors in an unlawful care home investment scheme. Robin Forster was a director at Qualia Care...
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The number of registered company insolvencies in July 2023 was 1,727, 6% lower than in the same month in the previous year (1,831 in July 2022). This was higher than levels seen while the Government support measures were in place in response to the...
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Isobel Brett provides comment for Financial Accountant on bounce back loans
Posted By: Bretts Business Recovery Ltd on 19th March 2024
Isobel Brett was featured in a recent article in Financial Accountant looking at the worrying number of bounce back loans issued to struggling SMEs by the Government, which may never be re-paid or were potentially mis-used. The article considers...
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