Insolvency hits 12-month low as firms thrive September 29, 2013 BUSINESS insolvencies fell in August compared with the same month in 2012, marking 12 months of falling insolvency rates, according to data out today from credit information firm Experian. A total of 1,632 firms failed in the month, down on the 1,723 that failed in August 2012, and the 12th month in a row that [...]
City Moves for 19 September 2013 | Who’s switching jobs September 18, 2013 Baker & McKenzie The law firm has announced the appointment of Paul Hibbert as a partner in its London office. Hibbert specialises in acquisition and leverage finance. He joins from Clifford Chance, where he was a senior associate in its London banking practice. Deutsche Asset & Wealth Management The wealth management business has made two [...]
Innovation Diary: Three things we can learn from the high growth small business gazelles September 15, 2013 OVER 350,000 new firms have been launched in the UK this year, and confidence is rising. Aldermore Bank research, released on Friday, saw small to medium-sized enterprise (SME) confidence in the economy climb for the fourth consecutive quarter. Yet this tells us little about what it takes to succeed as a UK startup. As Mark [...]
Business services firm of the year September 10, 2013 In an uncertain economy, companies that are willing to try something different – be that a new management team, an innovative business structure or a better use of technology – are the ones that tend to succeed. This category’s nominees live up to the best of these business services. ODGERS BERNDTSON Some of the biggest [...]
City Moves for 04 September 2013 | Who’s switching jobs September 3, 2013 SJ Berwin The law firm has appointed Paul Stothard as a partner in its litigation practice. He was most recently at Dentons, where he was a partner in its litigation and dispute resolution group. Prior to that, he was an associate at Denton Wilde Sapte, and Allen & Overy. Quadrant Estates James Bidwell has joined the property [...]
Moshen hires insolvency firm August 28, 2013 CHRIS Akers’ investment group Concha yesterday said its investee company, app developer Moshen, has hired insolvency practitioners to find out what value, if any, remains in the firm. Concha, which on Tuesday revealed financial irregularities at Moshen, also said it was consulting with lawyers about recovering some of the £867,000 it has poured into the [...]
Ex-Cyprus central bank chief says euro crisis will flare up after German elections August 23, 2013 Athanasios Orphanides, former chief at Cyprus' central bank, has said that the island economy was destroyed by delays in finalising the bailout package it received. Cyprus has seen its biggest industry – banking – wiped out with capital controls overstaying their welcome. While introduced as a temporary measure months ago, they have not yet been [...]
Bottom Line: Deal shows rising use of administration August 22, 2013 WHILE the writing had been on the wall for RSM Tenon for several months, the form of its eventual sale took many by surprise. Pre-pack administrations are an increasingly common presence on the high street, where retailers from Dreams to HMV have continued to trade following such deals, but a pre-pack for an accounting firm [...]
Accountant RSM Tenon enters administration as part of sale to Baker Tilly August 22, 2013 Accountant RSM Tenon has entered administration as Baker Tilly is soon to acquire the firm's trading entitites (release) Given the scale of its debt the firm has had little choice but to declare itself insolvent, with three insolvency practitioners at Deloitte LLP appointed as joint administrators to the firm this morning. Immediately following their appointment, [...]
Shop failures up 25 per cent August 4, 2013 RETAIL insolvencies jumped by 25 per cent in the second quarter compared to the same time last year, according to figures from the Insolvency Service last week and analysed by Freshfields Bruckhaus Deringer. Despite signs of confidence returning to the market, retail failures will still 29 per cent ahead of the previous quarter and significantly [...]