Inside Insolvency - January 2018

  • Upward trend for insolvencies

    The third quarter of 2017 saw a rise in corporate and personal insolvencies showing a marked change in direction from what has previously been a generally downward direction in levels for some time.
  • Interest rate rise implications

    On 2 November 2017 the Monetary Policy Committee voted to increase the Bank of England base rate to 0.5%.
  • Breathing space for debtors

    The 2017 government manifesto pledged to explore the provision of a breathing space scheme for those dealing with problem debt. Following this the government has recently issued a call for evidence to seek views on this proposal.
  • Solvent liquidations update

    We continue to see a number of companies entering solvent liquidation (MVL). This procedure is often used as a tax efficient and effective way of bringing a company’s affairs to a conclusion and the shareholders extracting their capital. Scenarios such as retirement, restructuring or a company having simply fulfilled its purpose are common reasons.
  • Ensors appointment as administrators of Stanref International Ltd

    Mark Upton and David Scrivener were appointed as Joint Administrators of Stanref International Ltd (‘Stanref’) on 29 September 2017. The Company manufactured pressure vessels and heat exchangers for the refrigeration and oil and gas industries.
  • Technical Bite

    Recent statistics show a marked rise in those entering formal personal insolvency procedures, particularly individual voluntary arrangements (IVAs).
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