UK debt collections

OCTOBER 2, 2024

The administrators noted that, as they were appointed by a secured creditor, there was little information to be provided regarding wider events leading up to the law firm’s closure. They attended the company’s trading premises and found the site completely cleared of all office equipment and furniture.

Law Firms 86

Law Firms Creditors Secured Creditor Trade 86

UK debt collections

JULY 23, 2024

Tom Russell, Vice President of R3, the UK’s insolvency and restructuring trade body said “The monthly and yearly increase in corporate insolvencies is driven by an increase in Creditors’ Voluntary Liquidations – a process usually used by smaller businesses, and which is often driven by cashflow problems or difficulties with access to finance.

Trade 52

Trade Retail Creditors Construction 52

Hudson Weir

APRIL 15, 2021

A debenture is a document representing a loan agreement between a lender and a borrower, granting the lender security over the borrower’s assets. This gives the lender a means of collecting the debt if the borrower cannot pay. Preferential creditors are next, including employees owed arrears of wages and holiday pay.

Unsecured Creditor 52

Unsecured Creditor Lender Creditors Secured Creditor 52