Consider investment fraud victims

Victims of unregulated investment schemes and other financial frauds are frequently overlooked

It is somewhat common knowledge that white-collar criminals regularly dupe innocent investors into handing over their hard-earned cash. During the fallout of such cases, we often, understandably, hear about the perpetrators and their misdemeanours. White-collar criminals become famous. But rarely is a voice is given to victims of unregulated investment fraud and similar crimes. Remember…

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Appeal court win for company directors

The appeal court rejected BTI's claim upholding the notion that directors have no duty to consider creditors until insolvency is looming

The UK Supreme Court recently dismissed a claim for a law change that would force company directors to take creditors into account at the first sign of insolvency. Instead, the Supreme Court upheld the current law. As a result, directors only need to prioritise creditors when company insolvency is highly likely. Under the current ruling,…

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What are recovery room scams?

Fraudsters target investors who've lost money by pretending to be an official who will help them recover the money

A recovery room scam occurs when scammers falsely present themselves as insolvency professionals to recover funds lost in a failed investment. This is a growing problem in the UK so it’s important that you look out for red flags such as: False claims of working for the police, government or the Financial Conduct Authority (FCA)…

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Insolvencies jump 43%

A 43% increase in insolvencies in August 2022 is bad news for UK business owners

Startling new statistics have revealed the number of insolvent companies jumped by a staggering 43% in August 2022. Although high inflation has led consumers to reduce spending, this paints a bleak picture of the future of UK businesses. The government finally acted by freezing energy prices to lessen the blow of the recent hike in…

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Mediation compulsory for County Court claims

The Ministry of Justice has announced plans for mandatory mediation sessions for small claims under £10,000. Compulsory mediation will be introduced into all County Court claims if the scheme is successful…

The Ministry of Justice (MoJ) recently announced plans to introduce compulsory mediation sessions for County Court claims valued under £10,000. Under the new proposal, defendants and claimants with small claims under £10,000 must participate in a one-hour telephone mediation. The court will allow 28 days for the phone call to take place after close of…

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Options for a profitable but insolvent company

Administration and company voluntary arrangement (CVA) are useful alternatives to liquidating a profitable company

As reports of company insolvencies come streaming in, it’s important for directors to weigh up business rescue options in advance. Panicking and making rash decisions under pressure could lead to a tragic , but wholly avoidable outcome. It is important to note that liquidation is not the only option available to you. One alternative is…

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