Straightalkdebt

Rise in number of distressed law firms

2012-02-29T15:10:00.000-08:00

New figures show that the number of law firms in distress has risen dramatically.

This could be made worse by the introduction of alternative business structures
(ABSs) under the new Legal Services Act, according to research by Begbies Traynor.

The firm has issued its quarterly ‘red flag alert’ which shows that 163 professional
services businesses were facing ‘critical’ distress in the last quarter of 2011.
This is an increase of 61% compared to the same period in 2010 and Begbies Traynor
says the majority of these were legal firms.

According to the alert, the last quarter of 2011 saw some non-legal businesses
finalise plans to offer legal services ahead of 3 January 2012, when applications
for such practices could officially be received.

However, while the Legal Services Act presents opportunities for non-legal firms,
many law practices have found themselves ‘floundering’ as clients cut back on their
legal fees spending, the alert adds.

Michael Bernstein, a partner at Harris Lipman, said many smaller legal firms were
left wondering what to do next due to the uncertainty raised by the Legal Services
Act.

He warned that this was not a viable strategy and urged firms to make a positive
decision about their future, rather than simply waiting to see what happens.

Read more: www.prlog.org/11812459-rise-in-number-of-distressed-law-firms.htm

Insolvency Practitioners Association elects new Deputy Vice-President

2012-02-26T15:29:00.000-08:00

The Insolvency Practitioners Association (IPA), the membership body and regulator for those specialising in insolvency practice, has chosen Mark Fry (pictured), national head of Begbies Traynor Group’s restructuring and insolvency division, as the next Deputy Vice-President. He will subsequently take up the office of president in April 2014.

Mark brings a wealth of experience to the role having practised in the insolvency and restructuring sector for more than 20 years. His expertise in handling high profile cases such as Alphasteel, Southampton Football Club and Silverjet Airways has further enhanced his reputation as one of the leading practitioners in his field.

Mark has long been a supporter of the IPA and its member services, he has been a member since 1994 and for the last four years has served as a director on its governing board which is responsible for determining policy and strategy. He previously served on its Membership & Authorisation, Examinations & Training, and Finance & General Purposes committees.

Mark Fry comments, “The IPA plays a vital role not only in raising standards within the insolvency profession, but also in widening knowledge and understanding of the value of the work of insolvency practitioners.

“I have enjoyed a long relationship with the IPA and it is a real honour to be elected as Deputy Vice-President. It’s important that those with first-hand knowledge in insolvency practice play an active role in working within the professional bodies that shape policy.”

David Kerr, Chief Executive of the IPA, comments, “It’s great to have Mark as Deputy Vice-President. Over the years he has given his time and energy to the IPA and we value the attributes and experience he brings. With so many ongoing debates about current issues within the insolvency sector, the contribution of leading experts like Mark will be crucial.”

With more than 20 years’ experience as an insolvency practitioner, Mark was originally a founding partner in Taylor Gotham & Fry, a specialist boutique practice in the corporate recovery sector, which he sold to Begbies Traynor in 2005. He is now a member of the plc board of Begbies Traynor Group and is the national head of its restructuring and insolvency practice. During his time at Begbies Traynor, he has developed a separate but integrated restructuring and banking practice; this part of the business has worked in both debtor and creditor led turnaround situations. Mark is also CEO of BTG Mesirow Financial Consulting, Begbies Traynor Group’s joint venture with American business Mesirow Financial Consulting.

read more: http://www.creditman.biz/uk/members/news-view.asp?newsviewID=15280

Administration fees courting controversy

2012-02-23T14:00:00.000-08:00

Companies which could have been rescued face the prospect of closure and unnecessary job losses because of a Government refusal to introduce new laws, according to R3, the trade body that represents more than 300 insolvency practitioners in Yorkshire.

R3 says recent court cases have added to the financial burden facing administrators when they are called in to rescue a company, making it less economic in some cases.

In the past, administrators were liable for the trading costs like wages, rent, rates and new supplies that followed their appointment, but new court judgments mean they may also be liable to meet other rent and pensions obligations of the collapsed company.

R3 wants new laws that clearly state what charges administrators are liable to pay.

Yorkshire chairman and Irwin Mitchell partner Andrew Walker said: “These court rulings and the continued uncertainty has had an unhelpful impact on the UK’s rescue culture, with far reaching, adverse consequences for the UK economy.

read more:
http://www.thestar.co.uk/news/business/administration_fees_courting_controversy_1_4176421

Portugal borrowing costs fall after ECB action

2012-02-19T14:02:00.000-08:00

Portugal’s borrowing costs declined at a successful auction of €1.5bn of shorter-term government debt, after the European Central Bank intervened in the country’s sovereign debt market earlier this week to subdue soaring bond yields.

The six-month notes due in July 2012 were issued at an average yield of 4.463 per cent, according to Portugal’s IGCP debt management agency, compared with an average yield of 4.74 per cent at a previous auction on January 18.

The Portuguese debt agency also sold €750m of three-month bills due in May at an average yield of 4.068 per cent, down from an average yield of 4.346 per cent at a previous auction on January 18.

Concerns that the sharp lurch in Portugal’s borrowing costs could lead to contagion spurred the ECB’s intervention. Its action has helped send bond yields, which move inversely to prices, tumbling over the past two days. Portuguese 10-year bond yields fell as much as 161 basis points on Tuesday, the biggest daily fall this year, as the ECB bought debt for the second day in a row.

The 10-year benchmark bond yield fell 80bp to 14.1 per cent on Wednesday, down from a peak of 16.7 per cent earlier this week.

Read more: http://www.ft.com/cms/s/0/47482298-4cf4-11e1-bdd1-00144feabdc0.html#axzz1mrqfWnm8

Insolvency Service Personal Insolvency - Statistics Insight

2011-09-17T08:17:00.000-07:00

The number of people becoming personally insolvent in England and Wales has risen for the first time in a year, according to figures released by the Insolvency Service. After four consecutive quarters of falling personal insolvency levels, this increase reflects the fragility of the economic recovery.

Although these numbers are up on last quarter, this total is actually 12 per cent less than the same point last year, and represents the fourth consecutive quarter of year on year falls.

RSM Tenon now predicts that the number of personal insolvencies this calendar year will be in the region of 120,000 - the lowest tally since 2008.

“Despite the recent negative or stagnant growth in the economy, the fact that unemployment figures remain hundreds of thousands higher than before the recession, and the fact that government spending cuts are starting to bite, the number of people hitting the financial rocks has only now shown signs of the strains of the public sector cuts combined with increased costs of living and falling real incomes,” said Nigel Fox, Director of Personal Insolvency at RSM Tenon.

“It’s very likely that much of this is to do with the low interest rates, which have now been kept close to zero for a staggering 28 months, and look set to stay low in the near future. This particularly benefits homeowners: huge numbers of people the current economic climate would have left struggling to make their mortgage payments are saved from going under.

“It’s worth pointing out though, that people in rented properties seldom see the direct benefit of low interest rates, and neither do people with unsecured debts as interest rates on credit cards and bank loans have not followed the trend of the base rate. So the picture is complicated, and there are more factors influencing the current low number of personal insolvencies than the actions of the MPC.”

http://www.straightalkdebt.com/

Article sourced from: RSM Tenon

Experian reports rich getting poorer

2011-09-11T14:39:00.000-07:00

Experian has reported a massive 100% increase in the level of borrowing amongst high
income families in their 30s and 40s over the past three years, with many citing the
rising cost of living as the main cause.

Over a third (33%) of high income families are now reliant on overdrafts of over
GBP1,000 to keep the family finances ticking over between pay-days, compared to just
15% in 2008. This is according to the results of a three-year survey commissioned by
Experian, the global information services company and the largest credit reference
agency in the UK.

The report reveals a high proportion of these families (52%) are regularly borrowing
money against their overdrafts resulting in expensive repayments because of the high
rates of interest charged on overdrafts compared to other credit products.

47% of UK adults have applied for additional credit in the past two years, with some
borrowing from sources which charge relatively high interest rates, potentially
adding to their financial pressures and risking missed repayments and a chequered
credit history.

Despite this, nearly two-thirds of high income families are actually optimistic
about their financial future, with 61% believing their financial situation will
improve in the next 12 months, despite dipping in to their savings and relying on
their overdrafts to make ends meet.

When many are borrowing to make ends meet, Experian highlights that many people are
missing out on the best rates because they're unaware of the benefits of managing
their credit report with a service such as Credit Expert.

Brits are getting better at accessing and managing their personal information that
lenders see which is inevitably resulting in them securing better borrowing rates.

Making the right decisions where borrowing is concerned is vital, and getting a good
credit rating is one of the ways you can give yourself the best chance of finding the

deals you want.

Peter Turner, Managing Director at Experian Interactive said: "UK families often
rely on their overdraft to get by, but that is not always the best option. Many of
us choose to borrow, but it's where you borrow from that makes all the difference.
The current financial climate is tougher than ever and seeing your credit report
could help families manage their credit better, as well as helping them plan for
their financial futures."

Credit Expert from Experian shows customers what a lender sees in their name. Every
time someone applies for credit or a loan, that request is recorded. Multiple
requests on borrower's credit history can look as if you are over-extending yourself
or a fraud is being committed. For those looking for a good credit deal or mortgage,
Credit Expert allows them to check their report
instantly online to ensure that it accurately reflects their position, and then as
often as they want after that. Credit Expert members can also match their credit
report to credit offers they are more likely to be accepted for using Experian's
Lower My Bills service.

http://www.straightalkdebt.com/

Article sourced from:

Experian

Half the nation concerned about their debts

2011-08-28T15:17:00.000-07:00

Nearly half of individuals (47%) are concerned about their debts, according to the
latest wave of R3’s, the insolvency trade body, Personal Debt Snapshot. The
quarterly tracker of the nation’s finances reveals a 7% rise in debt concern,
compared to this time last year.

Of those who are concerned about their debts, credit card debt continues to dominate
fears for 53% of individuals; an increase of 5% on last quarter. Concern about
certain types of debt has increased this quarter: Payday or other short term loans
(up 2%), hire purchase (up 3%) and store cards (up 1%); while worry about secured
lending has reduced such as mortgage repayments (down 4%) and bank loans (down 2%).

Frances Coulson, R3 President comments:

“Households that are already struggling may find traditional lenders unwilling to
provide further credit and are therefore drawn to short-term credit solutions.
Individuals turning to short-term loans and credit cards should be wary of the high
interest rates that often accompany these products. Overall debt can quickly
snowball out of control.

“Concern about secured lending is also likely to have fallen due to the Bank of
England continuing to keep interest rates at an historic low. Households have begun
to feel comfortable that their mortgage repayments will remain as they are for the
foreseeable future.”

Over a quarter (27%) of people are saving less then they usually do, equating to 13
million individuals, this compares to 24% in July last year and 32% in April 2011.
While one in five (21%) consumers are putting off big financial decisions, compared
to 14% a year ago and 28% last quarter.

Frances Coulson continues:

“Early 2011 was a tough period as individuals struggled to keep control of their
finances and felt uncertain about the future. It is encouraging to see people have
started to bolster their savings and pay off their debts. But we must remember that
financial distress is still higher than it was a year ago. Delays in taking big
financial decisions are up considerably on last year, indicating that the public is
still hesitant about what the coming months have in store.”

Allied to this is fear of redundancy: the overall fear of redundancy is twice as
high as this time last year. Twice the amount of people in the public sector fear
redundancy compared to private sector workers, with one in five public sector
workers raising their concerns, compared to 9% of private sector workers.

Frances Coulson said:

“Employees in the public sector are clearly wary that more job losses are yet to be
announced and the full force of public sector cuts is still to be felt. We know that
unplanned changes of circumstance, such as job loss, are key triggers of insolvency.

“With around six million people employed in the public sector in the UK, significant
redundancies could result in increased insolvency levels. More people have started
saving and paying off their debts, so these reserves should serve them well if they
do face a period of unemployment. Those struggling with debt should seek financial
advice rather than dealing with the distress on their own.”

http://www.refreshdebt.co.uk/blog/viewdetails.asp?ID=0141

CAB advice for struggling homeowners ahead of new repossession figures

2011-08-23T14:20:00.000-07:00

National charity Citizens Advice has produced top tips for homeowners struggling to keep up mortgage payments ahead of tomorrow’s repossession figures. This advice is based on its experience helping people deal with more than 100,000 mortgage and secured loan arrears, and stopping 5,000 people becoming homeless over the past 12 months.

Chief Executive, Gillian Guy said:

“With the cost of living going up daily and incomes lagging badly behind, mortgage lenders and the government must focus on helping people stay in their homes. Repossession is a terrifying prospect and should always be the last resort”

She reminded anyone struggling to meet their mortgage repayments that they can get free, independent advice from their local CAB.“You have a greater chance of staying in your home if you seek advice and take action as soon as you think you’re having problems,” she added.

Top tips if you start to fall behind on your mortgage:
* Make mortgage payments top priority - you could lose your home if you fall behind with payments.
* Let your mortgage lender know if you're having problems - don't just stop paying or miss payments. Your lender should treat you fairly and sympathetically and be willing to negotiate affordable repayment arrangements with you. If they know you are doing your best to stop the debt growing they are more likely to allow you more time to sort the problem out.
* Get free, independent advice as soon as you realise there's a problem. Don’t wait until you’re threatened with court action by your lender. Contact your nearest Citizens Advice Bureau (for contact details, and for more detailed information about dealing with mortgage arrears, go to the CAB website www.adviceguide.org.uk; or try National Debtline ( 0808 808 4000 www.nationaldebtline.co.uk or Shelter ( 808 800 4444 ) www.shelter.org.uk
* You may be able to cut down your monthly mortgage costs. For example, your lender may agree to reduce your monthly interest payments, increase the term of the mortgage to give you more time to pay, or allow you to make interest-only payments for a while.
* Check for any mortgage payment protection insurance you may have if you suddenly lose your job or are unable to work because of illness or injury.
* Get advice on benefits, tax credits and other help you may be entitled to if you are struggling. A CAB adviser can check if you are missing out on additional income and help you make a claim.
* Don't ignore court papers and court hearings. If you are notified that your lender is seeking possession through the courts, it doesn’t mean you’ve already lost your home. Don’t be intimidated by your lender into believing there’s no point attending the court hearing. Do go to court, but get advice first if you can. Otherwise look out for an advice desk at the county court run by a free independent advice service such as the CAB or Shelter. Getting advice – even at this stage – will give you a much better chance of saving your home.
* Find out if you qualify for government help. If you are facing repossession, the government’s mortgage rescue scheme (MRS) may allow you to sell your house but continue to live in it and pay rent.. Ask your local council for details. If you’ve lost your job and are claiming benefits, you may be able to get help towards paying your mortgage interest.

R3 comments on Government’s response to the personal insolvency review

2011-08-07T14:46:00.000-07:00

“R3 welcomes the Government’s announcement today to consult on increasing the petition debt levels for creditors. R3 believes that a rise from the current level of £750 to £3000 would be a more appropriate sum for a creditor to petition for bankruptcy.
“R3 has long campaigned for the rebalancing of the relationship between debtors and creditors, as a number of creditors petition for bankruptcy on low levels of debts. The threshold of £750 which was set in 1986 is now outdated. The Government today acknowledged: ‘that to be able to threaten someone with bankruptcy for such a small amount is disproportionate.’ We are pleased the Government is listening to R3’s concerns on this issue.
“The Minister also revealed that the Government recognises the potential for regulatory reform of Debt Management Services. We have called for better regulation of the Debt Management Plans (DMP) industry for some time. R3 research shows that DMPs are often unworkable because the level of debt is too high, and 10% of individuals in a fee-charging DMP were not told they would be charged until the scheme began. We call on the Government to go beyond recognising the need for reform and make the necessary changes to the industry. R3 suggests the regulation of the DMP market be removed from the OFT and become the responsibility of the Insolvency Service, to ensure all insolvency providers are regulated to the same high standard.”

Article sourced from:

http://www.r3.org.uk/index.cfm?page=1114&element=13444

http://www.straightalkdebt.com

R3 comments on Government’s response to the personal insolvency review

2011-07-26T08:25:00.000-07:00

“R3 welcomes the Government’s announcement today to consult on increasing the petition debt levels for creditors. R3 believes that a rise from the current level of £750 to £3000 would be a more appropriate sum for a creditor to petition for bankruptcy.

“R3 has long campaigned for the rebalancing of the relationship between debtors and creditors, as a number of creditors petition for bankruptcy on low levels of debts. The threshold of £750 which was set in 1986 is now outdated. The Government today acknowledged: ‘that to be able to threaten someone with bankruptcy for such a small amount is disproportionate.’ We are pleased the Government is listening to R3’s concerns on this issue.

“The Minister also revealed that the Government recognises the potential for regulatory reform of Debt Management Services. We have called for better regulation of the Debt Management Plans (DMP) industry for some time. R3 research shows that DMPs are often unworkable because the level of debt is too high, and 10% of individuals in a fee-charging DMP were not told they would be charged until the scheme began. We call on the Government to go beyond recognising the need for reform and make the necessary changes to the industry. R3 suggests the regulation of the DMP market be removed from the OFT and become the responsibility of the Insolvency Service, to ensure all insolvency providers are regulated to the same high standard.”

Appointment of Administrators - 17 June 2011

2011-07-04T04:05:00.001-07:00

Jun 17 2011
3B VIEW LIMITED
ALFA SELF-STORAGE (HERSHAM) LIMITED
BARTHOLDI LIMITED
KYMO HOLDINGS LIMITED
LONSDALE LEISURE LIMITED
MINMAR (929) LIMITED
PAPERVATION LIMITED
REDCARE TELECOM LIMITED
SEAFLAME COMPANY LIMITED
V8 GOURMET LIMITED

P35 (PAYE) Deadline 19 May: Comment from Frances Coulson, President of insolvency trade body R3

2011-06-27T02:02:00.001-07:00

“Typically many businesses will be caught out by the P35 deadline on 19 May, having been ‘getting by’ and not submitting the full amount of PAYE they owe each month. This deadline is traditionally a time when HMRC uncovers any shortcomings in the payments due and the payments made in terms of PAYE, as well as those businesses which do not file at all.

“I suspect this will lead to an increase in actions by HMRC in a couple of months time, as well as pushing up corporate insolvency numbers towards the end of the year.

“One in four (24%) businesses are concerned about their debts, according to the R3’s latest Business Distress Index. Of this group, 37% are worried about Crown debts and this deadline will be a test for them. Seeking professional advice as soon as possible is the best way to allay those fears.”

Frances Coulson, R3 President

Methodology note on R3’s Business Distress Index: BDRC Continental conducted 501 telephone interviews with small, medium and large business owners and Financial Directors between 7th and 18th March 2011. Quotas are set by size, region and sector and the data weighted to the profile of GB businesses. The respondent in each case is a senior financial decision maker. Small businesses are those with a turnover of £50,000 to £1million pa.

R3 is the trade body for Insolvency Professionals, representing 97% of the UK’s Insolvency Practitioners.

HMRC to extend its tax campaigns

2011-06-22T01:39:00.001-07:00

HM Revenue and Customs (HMRC) has announced that it intends to target more groups of workers in its efforts to recoup unpaid taxes.

Last month, HMRC launched a campaign aimed at businesses that might be trading above the VAT threshold of £73,000 but have yet to register with the tax authorities.

Now HMRC will be looking at e-marketplaces and private tuition providers in an effort to tighten up the tax-take.

The campaigns should be rolled out in 2011/12.

As part of the new campaigns, those who provide private tuition and coaching will come under the spotlight. The aim is to look at professionals who are able to earn money from providing tuition and coaching, either as a main or a secondary income.

It will cover people providing private lessons and could include, for example, fitness/dance/lifestyle coaches through to national curriculum subject tutors and others.

Another target for HMRC will be those who use e-marketplaces to buy and sell goods as a trade or business and who fail to pay the tax owed. People who only sell a few items and who are not traders are unlikely to be liable to tax and will be excluded from the investigation.

Following on from the recent offer of a partial amnesty to businesses working in the plumbing industries, HMRC also said that it would be inviting other groups of tradespeople to come forward and declare unpaid tax.

Mike Wells, HMRC's director of risk and intelligence, said: "We want to make sure HMRC listens to as many informed views as possible for our future campaigns. We want the views and experience of people and organisations outside the department to play a fuller part in the campaigns that we design for customers.

"By being open about our areas of interest for the coming year we hope to maximise that exchange of information and ensure we reduce the tax gap and help customers pay what they owe.

"We will use the information we gather to pursue people who choose not to use the opportunities we provide for them to put their affairs in order on the best possible terms. It will be more expensive if we come and find people, so I urge them to come forward and disclose voluntarily."

So far, more than £500 million has been raised by HMRC from voluntary disclosures and a further £100 million from follow-up activity.

Business debt under the weather

2011-06-13T05:23:00.001-07:00

Statistics on debt judgments in England & Wales released today (May 24) by Registry Trust Ltd show that the total value of county court judgments (CCJs) issued against businesses rose 14.4 percent (£19.6m) from £136.2m to £155.8m in the first quarter of 2011.

Registry Trust is the non-profit organisation which operates the Register of Judgments, Orders and Fines for England and Wales on behalf of the Ministry of Justice in the public interest.

Year on year the value of CCJs against businesses has fallen by 11.2 percent or £19.6m from £175.4m to £155.8m

Judgment numbers reflect a similar pattern in that they rose 8.9 percent over the last quarter but fell 7.2 percent year-on-year. Businesses in England and Wales faced 37,794 CCJs in Q1 2011, compared with 34,713 in the previous quarter and 40,711 during the same period of 2010.

This quarter a record 23,832 searches were requested. Anyone can search the registers online at www.trustonline.org.uk.

Announcing the statistics Malcolm Hurlston, Registry Trust chairman, said:

“The weather was blamed for the sluggish performance of the economy in the last quarter of 2010 and could be one of the reasons for an increase of judgments against businesses in the first quarter of 2011.

P35 (PAYE) Deadline 19 May: Comment from Frances Coulson, President of insolvency trade body R3

2011-06-08T01:56:00.000-07:00

Credit Action releases May Debt Statistics

2011-06-01T03:30:00.000-07:00

Money education charity Credit Action has today released the May debt statistics, a monthly release which details the level of debt in the UK.
Key statistics from the release, which shows month-by-month trends, include:

* CAB deal with 8,004 new debt problems each working day
* 1,392 people are made redundant daily
* 847,000 people have been unemployed for more than 12 months
* £55,870 is the average household debt (including mortgages)
* £29, 843 is the average amount owed by every UK adult (including
mortgages)
* £180m is the personal interest paid in UK daily
* £24.88m is the daily write-offs of loans by banks & building societies
* Every 17 minutes a property is repossessed
* £67.90 is the amount it costs to fill a car with a 50-litre tank with
unleaded petrol
* £133,200,000 is the daily increase in Government national debt (PSDN)
* £1,156,000,000 is the total value of all purchases made using plastic
cards today

Joanna Parsley, Associate Director at Credit Action says, "May's debt
statistics show some interesting trends. Although the amount owed by every
UK adult has fallen by approximately £30, in light of rising credit card
interest rates- which at an average of 19.1% are now at the highest levels
seen in 13 years- paying down debt has never been more sensible advice.

"With the cost of petrol rising still and with households experiencing the
changes made last month to tax, national insurance and welfare benefits,
2011 looks set to be a year where household budgets are further squeezed."

Credit Action releases May Debt Statistics

2011-05-23T01:44:00.000-07:00

May 6 2011
Money education charity Credit Action has today released the May debt statistics, a monthly release which details the level of debt in the UK.
Key statistics from the release, which shows month-by-month trends, include:

* CAB deal with 8,004 new debt problems each working day
* 1,392 people are made redundant daily
* 847,000 people have been unemployed for more than 12 months
* £55,870 is the average household debt (including mortgages)
* £29, 843 is the average amount owed by every UK adult (including mortgages)
* £180m is the personal interest paid in UK daily
* £24.88m is the daily write-offs of loans by banks & building societies
* Every 17 minutes a property is repossessed
* £67.90 is the amount it costs to fill a car with a 50-litre tank with unleaded petrol
* £133,200,000 is the daily increase in Government national debt (PSDN)
* £1,156,000,000 is the total value of all purchases made using plastic cards today

Joanna Parsley, Associate Director at Credit Action says, "May's debt statistics show some interesting trends. Although the amount owed by every UK adult has fallen by approximately £30, in light of rising credit card interest rates- which at an average of 19.1% are now at the highest levels seen in 13 years- paying down debt has never been more sensible advice.

"With the cost of petrol rising still and with households experiencing the changes made last month to tax, national insurance and welfare benefits, 2011 looks set to be a year where household budgets are further squeezed."

The full debt statistics can be accessed from the Credit Action web site:
http://www.creditaction.org.uk/helpful-resources/debt-statistics.html

Appointment of Administrators - 6 May 2011

2011-05-16T01:58:00.001-07:00

B.D. SYSTEMS LIMITED
BENYONS SOLICITORS LIMITED
BMT MARINE & OFFSHORE SURVEYS LIMITED
CITYTEX (U.K.) LIMITED
FPA DEPOSITS 104 LIMITED t/a Falcon Care
KEYS OF STEEL LIMITED
LEEROSE INTEGRATED SYSTEMS LIMITED
SECURE OPTIONS HOLDINGS LIMITED
NU-CAM INTEGRATED SYSTEMS LIMITED
BRIGHTSTAR CONSULTANTS LIMITED
CHARLTON DOORS LIMITED
SECURE BY INTEGRITY LIMITED
MONITORED SOLUTIONS LIMITED
WATCHMAN TRAFFIC LIMITED
P.A.T. SECURITY SYSTEMS LIMITED
SECURE OPTIONS HIGH SECURITY DIVISION LIMITED
SECURE OPTIONS LIMITED
SECURE OPTIONS GROUP LIMITED
THE OMEGA GROUP (UK) LIMITED
RAMORA UK LIMITED
SEDGEMOOR ESTATES LTD

For more information email jarnold@creditman.co.uk

Winding Up Petitions - 28 April 2011

2011-05-05T04:35:00.001-07:00

Apr 28 2011
AARDVARK ENGINEERING LIMITED
ASG VISION I P SYSTEMS LTD
BENZ INTERNATIONAL TECH DISTRIBUTION LIMITED
CASHBACKCHIEF LIMITED
CLIMATE SOLUTIONS (LEIC) LTD
DRAGON FEEDS LIMITED
EARLY DOORS PUB COMPANY LIMITED
ECOLOGICAL PARTNERSHIPS LIMITED
GOLDHART PROPERTIES LIMITED
THE GREEN MILE COMPANY LIMITED
HGS CONSULTANCY LIMITED
HOUSTON COX HOLDINGS LIMITED
HURRY CONSULTANTS LIMITED
J2HT LIMITED
LACEMARKET DEVELOPMENT LTD
LCF FRANCE LIMITED
LIGHTHOUSE IFA (NORTHAMPTONSHIRE) LIMITED
LIGHTSPACE PARTNERSHIP LIMITED
MATTY COAN & CO. LIMITED
MCCONNELL-DOUGLAS LIMITED
THE MED LOUNGE LIMITED
MINC INVESTMENT MANAGEMENT LTD
NEXUM (HOLDINGS) LIMITED
NEXUM UTILITIES LIMITED
OAKBUILD GB LIMITED
ONE AIM GROUP LIMITED
PEACOCK PRINT [NORTHAMPTON] LIMITED
REISSING LIMITED
RUSHDEN AND DIAMONDS F.C. LIMITED
TERNDEEN LEASING LIMITED
VIVID BRANDS UK LIMITED
XOU SOLUTIONS LIMITED
LOWICK ROSE LLP
WYNNES MOTOR SERVICES (NUNEATON) LIMITED

Mediocre GDP figures highlight need to nurture fragile recovery

2011-05-05T04:34:00.000-07:00

Commenting on the GDP preliminary estimate for Q1 2011, published today by the Office of National Statistics (ONS), David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

“These figures were mixed and well below the OBR prediction that the economy would grow by 0.8% in the quarter. On the basis of these figures, we reiterate our forecast that in 2011 as a whole GDP is likely to grow by 1.4%, much lower than the OBR’s expectation of a 1.7% increase. There are some positive features in these figures, particularly the 1.1% growth in manufacturing and the 0.9% increase in services. But construction fell sharply for a second quarter in a row and the economy’s overall performance is still mediocre. Total economic activity has only just returned to the levels seen in the third quarter of 2010.

“Given the fragility of the recovery, it is vital for the Government to persevere with policies that support growth, and remove the obstacles that prevent businesses from creating jobs and exporting. For the MPC, these figures reinforce the case for postponing increases in interest rates until much later in the year. It is crucial to avoid any measures that could derail the recovery.”