Please find below the latest blog posts from our Debt Recovery Team.
The Insolvency Service has recently published its monthly statistics for recorded insolvencies of registered companies in England and Wales. Insolvency rates for registered companies in July 2022 were 67% higher than in July 2021. The statistics also show a...
On 1 November 2022 petition deposits, the amount paid to pursue bankruptcy proceedings against an individual or winding up proceedings against a company, will rise by more than 50%. The deposit paid when pursuing bankruptcy against an individual is set...
“I am a Commercial Landlord and I have found out that my Tenant has been struck off the register, what happens next?” A company can be struck off the Register of Companies for a number of reasons. While some companies have fallen foul of the...
David Owen, a Director in the Commercial Litigation team at JCP Solicitors, advises business owners on late payment issues. Late payments have been a persistent thorn in the side of SMEs for many years, with bigger and more robust businesses often...
On 26 June 2020, after a speedy progression through Parliament, the Corporate Insolvency and Governance Act 2020 (CIGA) came into force. Restrictions were implemented by CIGA under Schedule 10 to restrict the presentation of debt related winding-up petitions...
Due to the Covid-19 pandemic businesses have, quite rightly, been very cautious about chasing outstanding debts. However, if a large sum of money is owed and it is having an impact on the cash flow of your business, you may be in a position where you need to...
The Covid-19 pandemic, and the restrictions implemented to tackle its spread, has had a significant impact on the economy. The effect of the governments’ measures has led to significant levels of financial loss for businesses across various sectors,...
The Coronavirus has had a major impact on civil court proceedings, whilst some urgent hearings are taking place most are delayed for the time being. It is not just hearings which are delayed but there has been a suspension of new possession proceedings...
Businesses of all kinds are adjusting to the very difficult circumstances we are all experiencing at the moment and are attempting to adapt to the rapidly changing trading environment. It is also becoming increasingly clear that all sectors will be...
Late payments are continuing to cause significant problems for SMEs, with larger and seemingly ‘well-heeled’ businesses being some of the worst culprits for delay. In June, while it was probably lost to most amongst the deluge of government...
We are pleased to announce that Sophie Thomas, JCP’s Head of Recoveries and Professional Liability, has been made an Associate Member of Nara, the Association of Property & Fixed Charge Receivers, in recognition of her expertise in the important...
I lent my brother £20,000 ten years ago so he could pay off some debts. At the time we came to a verbal agreement that he would start to repay me when he was in a position to do so and that I would be repaid in full within ten years. Ten years have...
