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Insolvency & Advisory

Monarch administrators lose slots battle in High Court

9 Nov 2017

Following its high court battle, Monarch Airlines will not be able to resell its airline slots. Instead, Airport Coordination Limited will oversee the distribution of new slots. Licensed IP, Clive Everitt comments “This really does not surprise me for reason mentioned before that there is a public safety/security/service standard issue around these slots which is crucial for maintenance of public confidence and to have allowed an administrator to sell on the slots to the highest bidder could have opened the door to wholesale trading of slots between airlines with total loss of control by the airport authorities. This really is a pity for the creditors – the cynic in me says that all the conciliatory words from Monarch’s owners that they would pay the funds to the government to cover the cost of repatriation of stranded passengers was nothing more than empty rhetoric as they probably did not expect the administrators to win but it made them look good in the public eye. However, quite rightly, the administrators had to run the argument to see if they could get something for the creditors.

telegraph.co.uk

UK house prices continue to rise, Halifax says

8 Nov 2017

Reports show that house prices have risen 4% between January 2017 and October 2017. That being said, the prices have risen from a previous slump, suggesting the market may not be as buoyant as it first appears. If the rise in house prices does continue, it will be interesting to see the effect on suffering retail figures.

www.telegraph.co.uk

Restructured drugs maker returns to AIM

6 Nov 2017

Cheshire based, Redx Pharma have proved that rescue and recovery from insolvency is achievable as they rejoin the AIM market. Following the help of their administrators, the firm now looks to regain credibility from their shareholders.

thetimes.co.uk

Half of Britons ‘financially vulnerable’

2 Nov 2017

Following a survey by the FCA, roughly 4.1m – 6% of the UK population – are said to be in financial difficulty due to missed domestic and credit bills. Furthermore, 1 in 6 or 39% of people say they would be unable to cope with a £50 increase in their monthly bill. This is an incredibly frightening statistic and as a percentage of the working population or main ‘provider in householders, I wonder what the figures would be. The vulnerability of Britons means that today’s interest rate rise could cause a substantial drop in discretionary expenditure, which in turn will affect the wider economy. Although people may be on ‘fixed rate’ deals, any increase could feed through the economy as those deals come to an end. This helps to blunt the immediate impact of an interest rate rise but conversely prolongs the agony. The housing market has ‘stabilized’ in the past year so that sector of the economy does not appear to be robust enough to withstand a shock so it could be a case of very bumpy waters ahead.

thetimes.co.uk

KPMG seeks judicial review over Monarch's landing slots dispute & Greybull to pass on Monarch profits

30 Oct 2017

The dispute over Monarch’s landing slots continues on as the firm’s administrators seek court guidance over whether they can sell the slots, despite Monarch losing their operating license. Monarch’s owners, Greybull Capital stand to make a profit on their investment if the slots can be sold. However, the private equity owner have indicated that any profits would be shared with the Government after the British tax payer covered the £60m bill of helping stranded holiday makers to return to the UK.

thetimes.co.uk

Insolvencies on the rise

28 Oct 2017

Government statistics show a 10.6% increase in insolvencies from the end of June. This spike has been supported by a record number of IVA application, which rose by 11.7% year-on-year in the third quarter. Debt Relief orders have also risen 2.1% from the end of June, however, outright bankruptcies fell to 3,682. The statistics also show an increase in company voluntary liquidations, which some suggest is due to owners leaving their businesses before the uncertainty of Brexit hits.

www.telegraph.co.uk


Monarch’s slots should pay for rescue, argues Jim Armitage

26 Oct 2017

The Standard’s Jim Armitage has reported that Airport Coordination Limited (ACL), who deal with airport slot auctions, are threatening legal action to stop Monarch from profiting in the sale of Gatwick landing slots. If the profits, reported to be worth £60 million, were to go to ACL instead of Monarch, they would be able to cover the exact cost of the state-funded repatriation programme.

www.standard.co.uk

Debtors to be given 'breathing space'

25 Oct 2017

The Government have confirmed that those with problem debt will be exempt from further interest, charges and enforcement action for six weeks This is thought to give such people a chance to seek advice. Licensed IP, Clive Everitt comments; “My first thoughts on this are what will the criteria be? Why should someone who has a house with equity be given a different level of leniency than someone who has lost their job and is £20,000 in debt? Furthermore, where will the advice come from? It does not pay for professionals to get involved at the lower end of the market so help will have to come from NGO’s government agencies or charities. I also have concerns over what the application process and checks and balances will be to ensure applications are not fraudulent. I do also have concerns that this may be considered a get out of jail free card to those who get themselves in debt through their own recklessness. However, following comments that this may be discouraging to lenders, I believe that any attempts to stop lenders from taking such a gung-ho approach to lending criteria and issues surrounding ability to pay may be a good thing.

bbc.co.uk

More firms showing signs of distress

23 Oct 2017

Recent reports show that 25% of businesses demonstrated signs of financial distress in September 2017, a 5% rise from April 2017. In addition, the number of firms showing signs of expansion has decreased to 53% in September 2017, a 9% fall from April 2017.

thetimes.co.uk


300 jobs lost as Misco ceases trading

20 Oct 2017

Computer reseller, Misco UK have gone into administration, leading to the loss of 300 jobs. According to their administrator, the company’s operations in Italy, Spain, the Netherlands and Sweden will not be affected.

express.co.uk

Parking firm boss guilty of £460k tax evasion

17 Oct 2017

Brian Pearson, the boss of an airport parking firm is said to have cheated HMRC out of nearly half a million pounds as he took the income tax and NICS of over his 60 of his staff during a seven year period. He has since been jailed. Licensed IP, Clive Everitt commented; Given the length of time it took for Mr Pearson to be discovered it is unsurprising that similar tax evasion is a very prominent issue. One wonders whether if he hadn’t gone to such an extent or the amount involved was much smaller the issue may have gone on for much longer.

manchestereveningnews.co.uk


No conflict of interest in Monarch liquidation

14 Oct 2017

KPMG have insisted that their long history with Monarch’s owner, Greybull Capital does not amount to conflict of interest in regards to their position as the airline’s administrators. This statement led us to look at our ethical guide, which lists situations that may be considered a ‘conflicts of interest’. Two examples clearly stuck out – 1) A situation where an IP has to deal with claims between the separate and conflicting interests of entities over whom he is appointed and 2) a situation where a significant relationship has existed with the entity or someone connected with the entity. However, the trouble is that all the top insolvency firms have quite possibly been involved so finding someone who isn’t conflicted but has the resources to the job is very difficult. It is easy to see a situation arising where a large high profile insolvency has gone with a smaller firm to avoid a conflict of interest but said firm turns out to not have the resources needed to support the company. KPMG will be watched by very many people very closely so I certainly think that any potential conflict will not impact on their approach.

thetimes.co.uk

Broadcasters told to bypass Becker

13 Oct 2017

The trustees of bankrupt Boris Becker have said that they should receive the money for the tennis star’s recent commentary work, instead of the money going straight to him. Licensed IP, Clive Everitt comments “Personally I think this is a step beyond the trustee’s authority. A trustee is entitled to collect payments due to Becker that were earned but not paid before the bankruptcy. However, the trustee can only seek an income payments order in respect to income earned after the bankruptcy not demand they receive the payment directly. The trustee’s tactics could have one of two outcomes. Firstly, Becker cooperates and agrees how much he will pay to the trustee from income generated since the making of the Order or with Becker’s position as an in demand commentator he may choose to do simply as much work as is required to live a reasonable lifestyle and pay no contributions to creditors. Neither a trustee nor the Court can make someone work if they do not want to so. A more pragmatic approach would get a better result for creditors with Becker working more, enjoying a better standard of living than might on the face of it seem appropriate but paying a larger amount back to his creditors. Just think about a pop star – would it be possible for their record company to help them avoid an income payments order by paying the ‘star’ little cash but the company providing a car, flat, clothing and meals as they were simply ‘requirements’ of the job. I am sure with some good advice Mr Becker can, if he wishes, minimize payments to his creditors from his future activities.

standard.co.uk

Did UK insolvency law halt Monarch’s rescue plan?

4 Oct 2017

Monarch’s CEO states that the UK insolvency framework doesn’t allow airlines to operate while under administration. However, Licensed IP, Clive Everitt disagrees, saying; “the point of the insolvency framework is to allow companies to trade while in administration. The issues are more practical than legal, with suppliers, employees and consumers potentially lacking faith in the company. Those companies leasing their aircraft may also have fears of their vehicles being impounded in foreign airfields! There may be regulatory issues that relate to the airline industry but that is industry specific not related to the ‘insolvency framework’. The UK has one of the most respected and advanced insolvency frameworks in the world and often companies will try to structure their affairs to enable them to exploit our procedures.

thetimes.co.uk

Monarch Directors investigated by the Insolvency Service

2 Oct 2017

New reports in The Sun state that the Insolvency Service are investigating the role of Monarch’s Directors following the airline going into administration. Licensed IP, Clive Everitt, comments, “Directors of every company in administration are subject to an investigation so on the face of it this piece of news is as exciting as the tide coming in or the sun rising (sorry for the pun). This investigation has only just started, but given that all cases lead to an enquiry, this doesn’t mean the case has generated any more suspicion of misconduct than any other . If the investigation is still ongoing in three months then the Sun may have a worthwhile point to make!

thesun.co.uk

Rate rise could hit struggling families

30 Sep 2017

A recent article in the Times focuses on November’s interest rate rise and how it will affect middle class families struggling with debt. The average unsecured debt held by those UK individuals seeking insolvency advice has risen from £15,081 to £20,136 in the past six months – an increase of 34%.

thetimes.co.uk

Voluntary arrangements really can work - a case study

28 Sep 2017

It’s now just over 30 years since the Insolvency Act 1986 came into force so we thought this would be a good time to review what that Act has achieved in terms of voluntary arrangements. To exemplify this, we have highlighted one case which for us represents everything that is good about voluntary arrangements.

read more >

Pub industry under pressure

17 Sep 2017

New research suggests large pubs are struggling financially due to rising business rates, labour costs and inflation. This combined with decreasing beer consumption and consumer spending is said to have created a ‘perfect storm’.

telegraph.co.uk

Avoidance of insurance equals risk of money laundering report and breach of fiduciary duty

16 Sep 2017

New studies reveal that 60% of start-ups founded in the past three year haven’t taken out insurance of any kind. New businesses were said to ‘underappreciate risk’ with 72% saying they were too small to need insurance, whilst 25% didn’t consider it at all. Licensed IP, Clive Everitt commented; “Given that it’s a legal requirement to have certain elements of insurance in place, accountants may consider this to be money laundering or proceeds of crime reporting issue. Furthermore, if an insolvency were to take place due to a lack of insurance, it would be considered a breach of fiduciary and could lead to personal liability for the directors. In reality, insurance should be taken out to protect against unforeseen risks and business owners should ask themselves “can I afford the consequences of not covering against those risks?”

smallbusiness.co.uk


One small business owner a week faces prison over unpaid rates

11 Sep 2017

Sole traders are increasingly facing prison time due to unpaid rate bills, a CVS study shows. Between January and March 2017, 54 business owners were given 90 day sentences for not paying their bills. Chairman of CVS, Mark Rigby suggested that as these rates are not based on ‘ability to pay’, small business owners face a ‘disproportionate financial and legal burden’.

express.co.uk

Coastal communities amongst the poorest

4 Sep 2017

Studies show a significant economic disparity between coastal and non-coastal parts of the UK., with average wages being up to £3,600 lower in these communities. A lack of job opportunities and poor transport links is said to contribute to the higher unemployment, lower wages and depleted education systems within coastal areas.

bbc.co.uk

Nurseries on the brink

31 Aug 2017

A recent study shows that nearly 40% of nurseries could go into administration in the next year. Higher business rates and the Government’s new childcare scheme are said to have contributed to this.

dailymail.co.uk

Trump’s Turnberry course receives £110,000 tax rebate

23 Aug 2017

Donald Trump’s Scottish golf course has been given a £110,000 tax rebate by the Scottish Government as ministers look to bail out small businesses affected by the economic downturn. Licensed IP, Clive Everitt commented; “Emergency bail outs and funds to help ailing businesses do not always end up where the politicians hope. Or perhaps the cynic would say they do – helping a ‘buddy’ now in the hope of a good trade deal in the future?

theguardian.co.uk

Cashflow crisis for builders as big firms hold back payment

22 Aug 2017

Large contractors are said to be putting smaller construction firms under financial pressure by withholding payments. The reason being that large firms themselves are dealing with cashflow issues due to stalled projects post-Brexit and a lack of traditional funding systems. The Times recently reported that smaller firms are consequently putting 27% more of their own money into their firms than they were three years ago.

www.thetimes.co.uk

Banks exodus hurting high street businesses

21 Aug 2017

Banks are closing up to ten high street branches a week and are moving online instead. The decrease in highstreet branches is having a direct impact on consumer footfall in town centres and will therefore affect the overall health of the high street.

www.dailymail,co.uk

Car financing – another sub-prime bubble?

20 Aug 2017

The collapse of both the Vehicle Trading Group and the Car Finance Company exemplify the risks in the sub-prime car financing market. The high number of competitors in the market is said to account for the ‘mispricing of risk’ within the industry. Licensed IP, Clive Everitt commented “This issue has been building as more and more new cars are sold on lease or PCP. There are two sides to this story, however. On one hand, an increased number of new cars on the road reduces the potential for accidents and air pollution. On the other hand, with customers choosing to lease out a new car instead of purchasing a second hand vehicle for a similar price, the car financing companies are left with surplus stock that they were hoping to shift but can’t. With the excess levels of stock, the second hand car market gets flooded and the value of 3 year old cars drops dramatically – a simple case of supply and demand and suddenly a bubble bursts leading to problems for the companies left with excess stock.

thetimes.co.uk

One in six care homes is in danger of failing

16 Aug 2017

The number of nursing homes showing signs of financial distress has risen to 16%. Rising costs, funding cuts and the aging population have all been cited as potential causes. Licensed IP Clive Everitt commented “Due to the added complications associated with moving residents, as well as staffing issues, it is important to take action early to preserve service and value. In acting early, homes can avoid closure due to the loss of confidence that will often arise following a formal appointment and the action taken by local authorities.

thetimes.co.uk

One in six care homes at risk form living wage

13 Aug 2017

Following on from recent reports on the future of the care home industry – new research estimates that one in six care homes are at risk of insolvency, a 4% rise on the previous year. The introduction of the living wage is said to be the main contributor.

independent.co.uk

Ministers urged to drop ‘unlawful’ bankruptcy fees

10 Aug 2017

With the UK Supreme Court’s decision to scrap tribunal fees, Scottish Ministers have received increased pressure regarding bankruptcy fees. Licensed Insolvency Practitioner, Clive Everitt commented; “As soon as I heard the tribunal case outcome, I thought of its impact on bankruptcy fees. Whilst a Debt Relief Order is just £90, it can only be used in certain circumstances. As an alternative, voluntary arrangements cost approx. £1,500 + VAT and bankruptcy requires a £130 adjudicator fee and a £550 deposit for the Insolvency Service. This illustrates a clear gap in provision and it wouldn’t surprise me if this were found discriminatory in the near future.

www.heraldscotland.com

Sun, sea and bankruptcy…

4 Aug 2017

New research shows that 7 out of the top 10 locations for personal insolvencies were seaside towns. Torquay had the highest number of insolvencies with 43 per 10,000 people – significantly higher than the UK average of 19.7. Scarborough, Hull, Plymouth and Blackpool also featured in the top 10 list.

www.credit-connect.co.uk


Former Kids Company directors facing bans

2 Aug 2017

Proceedings are to take place against the directors of collapsed charity, Kids Company to have them banned from company directorships. Chief Executive, Camilla Batmanghelidjh, Alan Yentob and others have all been named by the Insolvency Service.

www.bbc.co.uk

Increase in firms feeling the strain, whilst number of administrations fall across the Midlands

1 Aug 2017

Recent reports suggest that 330,000 firms are in significant financial distress – an increase of over 25% during the last 12 months. The property and construction industry is said to be struggling the most, with Yorkshire firms being at particular risk of insolvency. In contrast, the number of insolvent firms in the Midlands fell from 41 in the first quarter to 28 in the second quarter. This again suggests contradiction in whether insolvencies are in fact on the rise or the decline.

www.telegraph.co.uk

Business insolvencies reach 17 year low, however…

31 Jul 2017

Business insolvencies have reached a 17-year low, according to the Insolvency Service. However, this number is set to rise, with a number of reasons being cited as the cause. These reasons include; the projected hike in interest rates, rising household debt, a late payment culture and the issue of small business productivity. Licensed IP, Clive Everitt highlights the productivity issue, saying; “Poor productivity is not good for business. A key contributor to the poor productivity is regulation – everyone seems to spend a huge proportion of their working life complying with regulatory frameworks to improve productivity but they may actually have the reverse impact”.

thetimes.co.uk

Shopping centre opens as high street names vanish

24 Jul 2017

The Observer profiles the £140m Rushden Lakes scheme, a new shopping centre set in a 200-acre reserve in Northamptonshire. The opening next Friday comes as experts warn shopkeepers are experiencing their worst trading conditions in five years. According to Moore Stephens, 5,538 clothing retailers - some 18% of this sector - are now at risk of going bust as a consequence of rising overheads. The firm says the pressure the sector is under is illustrated by the recent high-profile insolvencies of high street names, such as BHS. Gareth Jones, retail partner at Moore Stephens warned: "Failure to adapt to multichannel retail will mean more household names disappearing from the high street.”

theguardian.co.uk

Individual insolvencies increase

14 Jul 2017

Recent studies show that individual insolvency rates have risen in 2016 for the first time in 7 years. Noticeably, the rate of insolvency for females was higher than their male counterparts. Analysis shows that the different insolvency categories do contribute to this. While women are much more likely to use a debt relief order (DRO) for lower value debts of under £20,000, men are more likely to be affected by bankruptcy, which is often used to deal with larger debts such as those that may result from a company failing or losing a well-paid job.

thetimes.co.uk

Rate of personal insolvencies jumps

2 May 2017

High levels of consumer borrowing and spending have led to a 6.7% increase in personal insolvencies in the first quarter of 2017, compared to the first three months of 2016. Research shows that the number of individuals applying for insolvency remains noticeably lower than the immediate aftermath of the recession, however, the upward trend could be a warning that spending and borrowing limits are being pushed by consumers.

thetimes.co.uk

Sale of Bernard Matthews scrutinised by MPs

21 Apr 2017

A parliamentary committee have found that Rutland Partners rejected a deal that would have saved Bernard Matthews’ pension pot. Reports show that the private equity firm sold the turkey producer’s assets to Ranjit Boparan for £87.5m, having previously rejected Boparan’s offer to include the pension scheme in the deal. In taking Boparan’s second offer, Rutland Partners were seen to gain a £14m ROI.

telegraph.co.uk

Bankruptcy risk if loan rates rise

27 Feb 2017

Figures suggest that if interest rates remain unchanged, 257,800 people will become bankrupt by 2020. Just a 1% rise in rates could lead to 275,900 bankruptcies within 3 years. Our Head of Recovery and Insolvency comments that "If interest rates were to return to 4% - 8%, it could be a huge learning curve to a whole generation who have only known low rates. The Bank of England may consider using interest rates to protect our currency post-Brexit, which could create repossession applications and banks being more aggressive towards ailing businesses, as well as increasing rates of personal bankruptcy."

thetimes.co.uk

New bankruptcy rules ease pressures

1 Feb 2017

New rules have made it easier to petition for bankruptcy, but is this a good thing? Do these rules encourage irresponsible borrowing or do they simply make it easier for struggling debtors? Head of Insolvency, Clive Everitt comments saying “the old system was time consuming and intimidating. However, I can see that debtors may declare themselves bankrupt without weighing up alternatives or the possible consequences. One thing remains, seeking expert advice should be the first course of action so do get in touch if you are affected.

independent.co.uk

Insolvencies rise as personal borrowing surges

27 Jan 2017

90,930 people were declared insolvent in 2016. This was 13% higher when compared with the previous year. According to the Bank of England, a fast growth in personal unsecured borrowing is seen to be a key contributor.

bbc.co.uk

Chess master’s VAT failure a warning to all

24 Jan 2017

Chess Master, Michael Basman has gone bankrupt after failing to charge VAT on ticket sales to an annual chess tournament. Although sports events are often exempt from VAT, Mr Basman owes £300,000 to HMRC because chess is not deemed a sport. Shaw Gibbs’ Head of Insolvency, Clive Everitt, commented saying; “This is an example of not getting advice before the event. So many people avoid getting advice from professionals (accountants / solicitors etc.) only to find out after the event that ‘doing things right’ can save a fortune.

telegraph.co.uk


Reasons for bankruptcy

13 Jan 2017

A recent study has shown that living beyond your means is the key reason for bankruptcy in Britain. The second most common reason for men is poor management of their own business, while a relationship breakdown was the reason for women. Our Head of Insolvency, Clive commented saying “This appears to be a rather obvious answer. But for the self-employed not providing for tax has to also be high on the list. However, this probably comes into the ‘poor management of their own business’ bracket.

ft.com

Oil and gas insolvencies rise

6 Jan 2017

Insolvencies within the UK oil and gas industry has reached an all-time high following a slump in prices. In 2016, 16 business became insolvent, dramatically rising from 2 the previous year, and 0 the year before. The effects of this could impact Oxfordshire and surrounding counties. A surprising number of companies involved in the support of the industry are located in the area, where they rely on high tech, innovation and the high level of education of the work force.

accountancyage.com

Increase in small retailers in distress

22 Dec 2016

Over 2,100 small retailers across the UK are said to be suffering from financial distress due to lacklustre sales, heavy discounting, increased wages and the fall in the pound. If you are affected by such issues then do get in touch. With the impending deadlines of large payments such as January tax, rent or VAT – contact us today on 01865 292 200 to avoid potentially large cashflow problems.

thetimes.co.uk

Are restaurants under pressure from sterling’s fall?

5 Dec 2016

New research suggests that 5,570 restaurants are at threat of becoming insolvent within the next 3 years. The fall in sterling - in combination with inflationary pressures and stagnating disposable income - is seen to be the cause of such unrest. Shaw Gibbs’ Head of Insolvency and Corporate Recovery, Clive Everitt provides a contrasting viewpoint in saying; “The research appears to ignore the fact that a falling pound will lead to increased tourism into the UK, resulting in increased footfall in areas of particular interest to tourists. So as with everything about Brexit the results for business and the economy is a bit of a mixed bag.”

theguardian.com

Care homes face the increasing risk of insolvency

15 Nov 2016

One in eight care homes in the UK are facing the threat of insolvency. Cuts in Government funding – in conjunction with the introduction of the national living wage – has put increasing financial strain on the sector. The long term future for care homes also looks unstable. An increase in demand is set to be met by the £9 living wage target, thus creating an unsustainable situation.

mirror.co.uk

Pension issues surrounding insolvent companies

4 Nov 2016

Today’s papers once again saw Sir Philip Green on the front page as the Pensions Regulator issued enforcement notices to the former BHS CEO in light of the company’s pension deficit. In this article, Shaw Gibbs’ Head of Insolvency and Corporate Recovery, Clive Everitt discusses the issues that arise from pension schemes within insolvent companies.

shawgibbs.com

Living wage distress

1 Nov 2016

Almost 20,000 companies dealing with the impact of the national living wage have been pushed into financial distress since it came into force. Of the companies who set the minimum wage at £7.20 per hour for workers 25 and over, 97,342 are understood to be in a poor financial position. This is an increase of 23% on April 1, the day the living wage was implemented.

cityam.com

Personal insolvencies jump by a fifth

31 Oct 2016

The number of people becoming insolvent across England and Wales increased by a fifth in the third quarter of 2016, with 24,251 personal insolvencies registered between July and September. Over the same period, bankruptcies increased by 7% compared with the second quarter of 2016, with 3,844 new cases recorded.

bbc.co.uk

Business confidence dips

31 May 2016

The number of firms that expect trading to pick up over the coming year has fallen to its lowest level in three years, according to a report. The Lloyds Bank Business Barometer in May said the balance of companies who thought business would improve over the next 12 months fell by 11 points to 38%, its lowest level since 2013. Overall, the survey said UK business confidence fell by six points to 32% in May, adding to a growing sense that the UK economy is slowing down.

briefci.com

Grace period for struggling firms

30 May 2016

Struggling businesses will be given a three-month grace period to protect them from creditor pressure under Insolvency Service proposals. The service wants companies to be given the flexibility to turn their operations around "while free from enforcement and legal action by creditors" through a "moratorium for business rescue".

thetimes.co.uk

Oliver Reed’s home on sale

18 May 2016

The former home of actor Oliver Reed has gone on sale for £4.95m. Okewood Hill Estate is being sold by receivers in what is believed to be one of Britain's most expensive seizures.

standard.co.uk


Europe’s insolvency impasse

17 May 2016

The Times’ Simon Nixon says one of the biggest impediments to recovery in some southern European countries is weak insolvency regimes.

wsj.com

If you have been affected by any of the topics mentioned above then please get in touch via email or ring a member of our team on 01865 292 200.

© 2018 Shaw Gibbs Ltd

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