The latest statistics for UK insolvencies published by The Insolvency Service have prompted some comment about the apparent surge in businesses being liquidated through the creditor-enforced Compulsory Winding Up (CWU) route, with some suggestions that creditors are being far tougher on struggling debtors. Compulsory Winding Up – comparison with 2022 The figures for the seven months to July 2023 showed
Opus Edinburgh is a specialist restructuring and insolvency practice based in the heart of the city. We aim to work closely with local corporates, SMEs and Business Owners that are in difficulty, in order to find the best solutions and move forward decisively. The world of restructuring and insolvency can be complex to navigate, which is why we are on-hand
When the corporate insolvency statistics for July 2023 were released by the Insolvency Service, all the focus by commentators was on the macro aspects of the numbers. Insolvencies for the whole of the UK totalled 1,837, a slight dip of 4% from July 2022 but still well ahead of July 2019 when failures were 18% lower. Cumulatively for the first
Challenges Faced by Residential Landlords with Multiple Property Ownership in Scotland The landscape of residential property ownership in Scotland has undergone significant shifts in recent years, giving rise to a new set of obstacles for landlords. In particular, the confluence of rising interest rates and the government cap on rent increases has cast a shadow on the once lucrative buy
The Insolvency Service has just published its three-year review of the implementation of the latest piece of UK insolvency legislation, the Corporate Insolvency and Governance Act 2020 (CIGA), noting that while its provisions were broadly welcomed initially, the take up of the its procedures have been modest at best. By the end of June 2023, there had only been 45
In our interconnected world and rolling news cycles, reputation damage can occur at a lightening pace. Two very recent examples include the crisis at CBI after sexual misconduct claims and Natwest’s handling of the de-banking of Nigel Farage by its elite subsidiary, Coutts. But, while these cases involve the upper echelons of the UK business world, such reputation management issues
