Our Head of Creditor Services writes for Corporate Insolvency & Restructuring magazine about the changing world of creditor involvement in the UK insolvency regime. Back in the early 1990s, a well-known but not best respected insolvency practitioner (IP) in North London liked to joke that whenever his receptionist tried to put through a call from a creditor on any of his
Retail expert Nick Hood, of Opus Restructuring and Insolvency, said: “I think this has been coming for a while. “Previously, mobile phone operators have given retailers large discounts to sell their products and services, but now they are taking a tighter control of the channels in which they sell. “They have said to themselves, ‘maybe we could do
A panel of experts debate the biggest challenges that companies are currently facing. Viable, successful businesses right across the UK economy are being undermined by a zombie army of the corporate walking dead. Over 200,000 companies with combined negative equity of more than £70billion are distorting competition, desperately pursuing business at any price and paying no heed to the
Opus Restructuring, a specialist insolvency and turnaround practice, has launched with the aim of keeping troubled SMEs afloat, rather than putting them into administration, writes Ravender Sembhy. The boutique firm’s three-pronged approach includes avoiding insolvency where possible, fixing fees at the outset and being more transparent with stake holders about the process. To read full article, click here and scroll
Solicitors could be forgiven for wondering where the next hammer blow will fall, after a terrible year since the introduction of the Jackson reforms to civil procedures in April 2013. The impact of this and savage legal aid cuts have triggered a wave of failures, a consolidation surge as larger firms like Slater & Gordon have gobbled up smaller players
Partner, Tim Dolder and Business Risk Adviser, Nick Hood look at the challenges facing the UK insolvency profession as change overtakes old-fashioned attitudes: The taxi meter approach of using hourly rates for setting IPs’ fees is under serious threat from government intervention IPs will need to focus much more in future on adding value to the recovery process, not just cost
