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Business CCJ’s double whilst firms in significant distress soars

UK debt collections

Winding Up Petitions issued by company creditors, meanwhile, which represent a serious harbinger of approaching financial distress, stood at 576 during Q4 2022, an increase of 131 per cent from Q4 2021. Enforcing an unpaid Business CCJ

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37% increase of Businesses in critical distress

UK debt collections

Evidence of this financial distress comes in the form of County Court Judgement (CCJ) data, arguably an early warning sign of future insolvency, which revealed 46,235 rulings in the first six months of 2022, up 5% on 2022 the first quarter, as creditors tried to recover debts. Manufacturing. Support Services. Real Estate. Automotive.

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Number of Insolvent Businesses hits record high

UK debt collections

Data from the Insolvency Service yesterday showed that 2,552 companies were declared insolvent last month, overwhelmingly through creditors’ voluntary liquidations, in which a company’s directors agree to wind up the business without a formal court order.

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Burr & Forman Names 9 New Partners Across Georgia, Alabama, South Carolina and Florida

Burr Forman

Hanna Lahr practices in the firm’s Creditors’ Rights & Bankruptcy group. Hanna’s practice focuses on representing creditors and debtors, both in and out of court, to, among other things, enforce and/or restructure debt obligations, including through the bankruptcy process. Birmingham. Jacksonville.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

Moreover, the op-ed noted that according to a 2021 report, the greatest number of victims in 2020 by industry were in manufacturing, professional and legal services, and construction. Previously, Khan served as a legal advisor to former FTC Commissioner Rohit Chopra. For more information, click here.