UK

The decline in the number of limited company failures continued into May 2003, according to the latest figures released by Experian®, the global business solutions company.

The Better Payment Practice Group (BPPG) has advised that from 1 July 2003, the new interest rate for companies wishing to apply the late payment legislation is 11.75%.

In its annual company accounts for the year ended 31 January 2003 Bury-based Regency Factors recorded a profit before tax of Ј202,570, up more than 55% compared with the previous financial year (Ј130,083).

HSBC Bank plc have produced a guide for exporters based in the UK. The publication, Winning Export Sales, is endorsed by the British Chambers of Commerce (BCC) and the Institute of Export (IoE).

Master Robert Turner is to be the new president of the Institute of Credit Management (ICM). Master Turner is senior master of the Supreme Court, Queen’s Bench Division, and the Queen’s Remembrancer.

On 12 June, over 160 people turned out to listen to Robert Swann OBE (an explorer and environmental campaigner and the first person to walk unassisted to both Poles) at the latest FDA Staff Forum.

GMAC Commercial Finance (GMAC CF), the UK's largest independent invoice finance and asset-based lending specialist, has appointed Jane Mckenzie-Wynne as area director.

Hammonds, formerly Hammond Suddards Edge, The UK-based commercial law firm, publishes quarterly updates of statute and case law relevant to the finance industry.

ISIS Factors, the London Scottish Bank owned factoring company, has reported a pre-tax profit of Ј937,913 in their annual accounts for the year ended 31 October 2002.

A quarter of small firms believe that the quality of service offered by their bank has deteriorated over the past year; despite this fact the vast majority (82 per cent) still use traditional bank funding to finance their business.