Carl Cushnie and Fred Clough, the former chairman and finance director of Versailles, the trade finance house, were each sentenced to six years in prison yesterday for masterminding a Ј150 million fraud described by the presiding judge as “one of
A Norfolk-based crane business is aiming to double its annual turnover from the present Ј15m in the next 10 years and to open a number of new offices
UK small- and medium-sized enterprises (SMEs) should take steps now to ensure that they are in a strong position to gain full advantage from the economic upturn, according to global credit management company and credit insurer, Atradius.
The biggest annual survey of Scotland’s SMEs found that a staggering 25 per cent of Scotland's small companies are using credit cards to finance their business. The survey was conducted by the Federation of Small Business (FSB) in Scotland.
Cattles Invoice Finance has funded the management buy-out (MBO) of Wakefield-based Grosvenor Transformers from the Grosvenor Group.
Close Invoice Finance Limited have released their financial results for the twelve months to 31 July 2003 showing a pre-tax profit of Ј6.57m, an increase of 4% compared to Ј6.32m for the similar period in 2002.
The Factors and Discounters Association of the UK and Ireland (FDA) has published industry figures today showing a 15.03% increase in factoring and invoice discounting volumes to Ј30.50bn in the first three months of 2004 (Q1 2003: Ј26.51bn).
I commend the note on the website of the Accountants' Joint Disciplinary Scheme on the spectacular audit failure at Versailles Group, the trade finance outfit now in administrative receivership whose chairman and chief executive Carl Cushnie was c
A Leeds-based firm, which distributes some of the UK's best-known consumer magazines, has been bought by its management. Macfarlane Transport has been sold by its founders, brothers Ian and Gordon Macfarlane, for an undisclosed sum.
The Board of Ultimate Finance Group PLC (UFG) is pleased to announce that its offer for subscription of up to 5,300,000 new ordinary shares at 15p each closed on 21 May 2004 and was oversubscribed.
