Industry News

Pre-pack Administration gone wrong – Commercial Debt Recovery News

A Pre-pack administration involves an existing director buying up the firm’s assets just after it has gone into administration and starting a new company in order to keep the business going.

Possible Hedge Fund Crackdown headache for European Commercial Property Investors

Europe’s commercial property owners, saddled with €1.9 trillion of commercial debt, may be forced to make billions of euros in cash payments under planned laws that would treat them no different to hedge funds.

Distressed Business in the North West

Over the last couple of weeks there has been two very interesting reports made about ‘distressed businesses’. The first concerns the underlying improvement to the number of North West businesses now considered to be in ‘significant’ finance distress then they were some 12 months earlier

Bad Management to Blame for Nearly 60% of Corporate Insolvencies

According to a recent poll conducted by the insolvency group R3, 56% of corporate failures (non SME) are direct results of the ‘Incompetence or bad management’ of company directors.

Liverpool board to resist attempts by Hicks to refinance debts

Liverpool FC managing director Christian Purslow has insisted that the club’s board members will firmly resist any attempt by the co-owner Tom Hicks to refinance the club’s debts of £237million with Royal Bank of Scotland.

Premier League football club Arsenal in profit and debt free?

…property built as part of the move to the Emirates stadium, namely the Highbury Square development was now debt free and making money for the club.

31% of UK businesses use an external debt collection agency

Exporters and international trade account for 55% of all outsourced debt collection with firms taking advantage of global debt collection offices able to overcome language barriers and local difficulties in the law and culture.

Targetfollow Estate Ltd in talks with distressed investment specialists

Targetfollow Estate Ltd owes Lloyds about £700m yet the bank has received a valuation of the developer’s assets to the tune of just £450m after commercial property assets have plummeted since 2007, when the original loan was taken out.

Government warns banks over small business lending

News emerged yesterday that as expected, the Business secretary Vince Cable stated that UK banks should be ‘very, very self-conscious’ about how they reward staff and investors” ahead of the up and coming half years results.

Central Banks Struggle for Exit as Recovery Weakens

According to many press sources the World’s major central banks are having a very tough time exiting ‘crisis mode’, prolonging aid or reviving stimulus tools as the global recovery loses its momentum.

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