16 September 2020
The UK insolvency statistics for August 2020 show that corporate insolvency levels remain at very low levels, some 43 percent lower than in August 2019 (1,369 August 2019, 778 August 2020).
18 August 2020
Leading audit, tax and consulting firm RSM has appointed Janet Burt as a partner to grow and enhance the firm’s restructuring advisory team.
14 August 2020
Despite the what is now officially a recession, a wave of money and government support totalling over £83bn (furlough and loan schemes only) is still keeping UK companies afloat, but corporate debt levels are soaring as a result.
14 August 2020
RSM has been successful in agreeing a deal with a Swedish based manufacturer (Dellner Bubenzer Group) to acquire the majority of the business and assets of Romag and Romag PPM, saving over 100 jobs in Country Durham.
Janet is a restructuring specialist and is an insolvency practitioner based in London. She has a breadth of restructuring and insolvency experience spanning 25 years with the execution of formal appointments, leading advisory teams as well as senior project management for a variety of stakeholders in distressed situations.
31 July 2020
As the Coronavirus Job Retention Scheme comes to end and short-term funding boosts run out, we are starting to see the inevitable - restructuring by companies as they look to downsize and align themselves to a post-Covid market.
30 July 2020
The number of individuals entering a personal insolvency procedure has increased by approximately 12 per cent compared with the previous quarter.
The figures, released by the Insolvency Service today, reveal that there were 32,153 individuals entering either bankruptcy (2,415), a debt relief order (4,806) or an individual voluntary arrangement or IVA (24,932) in the second quarter (Q2) of 2020.
21 July 2020
The Corporate Insolvency and Governance Act 2020, which came into force of 26 June 2020, contains a ban on the operation of termination clauses in supply contracts for the supply of goods and services because the company receiving the supplies has entered an insolvency procedure (known as Ipso Facto clauses). It also prevents supplier companies from doing “any other thing” in respect of that supply contract, including varying the terms of the contract, increasing prices or seeking to enforce a guarantee.
13 July 2020
Leading audit, tax and consulting firm RSM has successfully helped Creative Support with a new £25m re-financing deal, providing the national not-for-profit organisation with a sustainable funding structure for long-term security and growth.
09 July 2020
The recent report from the Institute for Fiscal Studies paints a fairly gloomy picture for Higher Education and identifies that up to thirteen establishments may be at risk of insolvency.