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Banco Espirito Santo International Ltd (BES) sued accounting firm BDO Seidman on Tuesday, alleging it "rubber-stamped ... obviously false financial statements" of a company accused of defrauding the Portuguese bank's local branch of US$170 million. Espirito Santo and several of...
#bank#factoring fraud#international
Four men pleaded guilty to defrauding a Portuguese bank branch of US$170m through a sophisticated conspiracy that lasted nearly a…
#bank#Bill#Paid
A key moment for any company is its move into profitability, a milestone that Dynamic Commercial Finance, the UK financier,…
#commercial finance#Paid
These days small- and medium-sized businesses (SMEs) are undergoing a financial crisis worse than that of 1997. While large companies…
#bank#cash-flow#Paid
More than 540,000 small businesses, for the first time, will be forced to provide redundancy pay to sacked workers in…
#3M#insolvencies#Paid
Gordon Brown closed a tax loophole for self-employed people two years after he created it, in a U-turn that infuriated…
#Deloitte#Paid#small business
Almost three quarters of the 1,476 businesses surveyed on the Better Payment Practice Group’s (BPPG) website admitted that they are…
#interest#late payment#management
A Federal Court judge has thrown out a A$1 million-plus legal action by Sydney-based business financier Scottish Pacific against rival…
#bank#guarantee#Paid
The Inland Revenue's offer to small employers of up to Ј825 over the next four years for filing their returns…
#Clear#Paid#Penny
According to a poll conducted on the Better Payment Practice Group (BPPG) website during December, 75 per cent of firms…
#cash-flow#Clear#late payment
In September, Community Redevelopment Agency (CRA) executive director Doug Hutchinson signed an invoice promising US$9,000 to factoring company A/R Funding…
#funding#invoice#Paid
The world's second-largest insurer of credit liabilities, Atradius, will enter the Polish market no later than mid-2004. At first, the…
#Atradius#insurance#Paid
Germany's Euler Hermes Kreditversicherungs (Hermes) credit insurance agency plans to sue bankrupt commercial bank Inkombank to recover past debts from…
#bank#bankruptcy#Commerzbank