Insolvency Shake-Up Over Book Debts
A recent court decision is set to shake up the way the banking profession and insolvency practitioners manage their appointments as administrative receivers, law firm Hammond Suddards Edge has warned.
A recent court decision is set to shake up the way the banking profession and insolvency practitioners manage their appointments as administrative receivers, law firm Hammond Suddards Edge has warned.
Euro Sales Finance have today made the following announcement:
Close Invoice Finance, the factoring and invoice discounting subsidiary of Close Brothers Group plc, has announced the acquisition of south east - based Metropolitan Factors.
Bibby Group of Factors Ltd have released their annual accounts for the year ended 31 December 2000. Turnover has risen by 15.75% to Ј29,367,000 from the 1999 figure of Ј25,371,000. Pre-taxation profit has risen by 15.42% to Ј10,007,000.
Regency House Finance Limited have released their annual accounts for the year ended 31 January 2001. Turnover has risen by 41.17% to Ј1,318,062 from the 2000 figure of Ј933,701. Pre-taxation profit, however, has fallen by 36.27% to Ј101,909.
GLE Invoice Finance has announced that it will strengthen its sales team by appointing Pete Stanton to the position of Regional Sales Director for the West Midlands.
The Secretary of State and the Chancellor have agreed a request by the Competition Commission for a four month extension to complete their report on the supply of banking services by clearing banks to small and medium-sized businesses.
Lending to small businesses rose by Ј1.4 billion (+3.6%) in the first quarter of 2001. This was higher than the previous quarter's rise due to increased overdraft borrowing and brought total lending to Ј40.3 billion at the end of March 2001.
Alliance & Leicester has announced its entry into the growing factoring market in partnership with Bibby Group of Factors.
