Editor: Pat Williams. E-mail pwilliams@creditman.co.uk
John Arnold. E-mail jarnold@creditman.co.uk
Site: Business Credit Management UK
URL: http://www.creditman.co.uk
Issue: Vol 4 Issue 1
Dated: 9 January 2000
Welcome to the Business Credit News UK first edition of the New Millennium. We would like to wish our all readers, friends and clients a very Happy New Year. In this weeks edition you will find the following topics.
In this weeks edition you will find the following topics.
"Optimising Credit Performance in the New Millennium - Make the first collection quarter of the New Millennium your best ever!
It's that time of year again - you know, when the auditors/ bank/ FD are all saying "something must be done about debtors". Kennard & Co are putting on a one day credit management training workshop in Stoke on Trent on Wednesday, 9th February to help maximise your cash collection and minimise bad debts.
The workshop is pitched at ICM Intermediate level and is designed to encourage networking. It has been deliberately organised at a convenient venue for the Potteries so that participants don't have far to travel in the winter weather.
The trainer is Russell Kennard, MBA AIMC who has worked for several of the big companies in the area and was responsible for establishing the local MICM (Grad) course at Stoke College. A lot of interest has been shown already so book early to avoid disappointment!
Further details: Mobile 07747 845 257 Email: arkmba@btinternet.com " Website: www.arkennard.co.uk
UKDECEMBER'S RETAIL SALES HIGHER THAN EXPECTED - CBI SURVEY
Retailers reported higher than expected sales volumes for December but expectations for January are more moderate, according to a Confederation of British Industry Survey out lastThursday. This survey, together with last September's results, shows the strongest growth in annual sales volumes since April 1997.
The latest CBI Distributive Trades Survey, covering sales from 1 to 28 December, shows 60 per cent of retailers reporting increased sales and 19 per cent reporting a fall in sales compared with a year earlier. This gives a positive balance of 41 per cent and compares with 23 per cent in November and 16 per cent in October. Sales are expected to moderate in the year to January. The three monthly moving average of sales volumes is unchanged from November suggesting that the underlying trend in sales growth remains steady.
Sales in December were reported to be significantly above average for the time of year, and to the greatest extent since January 1998. Sales in January are expected to be only slightly above average.
For the first time since January 1998 all sectors within retailing reported a rise in sales volumes compared with a year earlier. Furniture and carpets stores, grocers, confectioners and footwear and leather retailers reported the sharpest increases in sales, while clothing stores and off-licences reported modest growth.
Alastair Eperon, Chairman of the CBI's Distributive Trades Survey Panel, said: "December's rise in retail sales is most welcome as it follows two months of less robust growth when expectations were not met. However uncertainties about sales figures at the turn of the year and the more moderate expectations for January point to retailers maintaining caution about the year ahead. This is not the time to make any hasty interest rate changes."
The volume of orders placed on suppliers rose significantly in December, and at a faster rate than had previously been expected. However the rate of growth is expected to slow in the year to January. Stocks were run down over the past month, despite expectations that levels would remain unchanged. Stocks are expected to be run down slightly in January although remaining more than adequate to meet demand.
Wholesalers' annual sales volumes fell slightly in December, despite expectations of a sharp rise. This is the first survey since November 1998 when sales increases have not been reported. A more significant decline in sales volumes is now expected in the year to January. Business was considered to be below average for the time of year. January's sales volumes are expected to be well below average for the time of year, and by a greater extent than in December.
Motor traders' annual sales volumes fell sharply in December for the third consecutive survey. A more moderate fall in annual sales volumes is expected in the year to January. (The change in the seasonal pattern of car sales continues to make the survey figures difficult to interpret).
EURO RIVALS BACK CHAMBERS’ BUSINESS SURVEY ON SINGLE CURRENCY
Rival Euro groups, Business for Sterling and Britain in Europe have backed a new survey launched on Friday 7 January by the British Chambers of Commerce (BCC) canvassing the views of the Chambers’ 126,000 business members, on the controversial issue of UK membership of the Single Currency.
The BCC’s survey, to be published in April 2000, is the first from the UK’s major business organisations to secure support for its methodology from both sides of the Euro debate. Business for Sterling and Britain in Europe have been consulted closely on the format of the BCC’s questionnaire, and both have contributed a one page summary of arguments for and against UK membership of the Euro, to inform the views of Chamber members.
Dr Ian Peters, Deputy Director General of the British Chambers of Commerce said:
‘There is no doubt that within the business community divisions exist on the issue of British membership of the single currency. However, the quality of debate has suffered previously, with the clarity of business opinion surveys undermined by criticisms over methodology.
"The BCC is the only business representative organisation to address this by inviting the two pre-eminent Euro campaigns to inform the views of our membership, which in turn will form the basis for the BCC’s future policy on this issue. With the support of Britain in Europe and Business for Sterling, the BCC will provide the definitive survey of business opinion on EMU."
The BCC’s survey offers businesses the following list of options on the key question of UK membership of the single currency:
The survey also goes on to question businesses on the extent of their preparations for Euro membership and the impact that the Euro has had so far on their operations. The BCC last surveyed membership opinion on the single currency (EMU) in 1997, at which time a clear majority concluded that the UK should join EMU when economic conditions were favourable.
The BCC’s President, John Entwistle, is a member of the Chancellor’s Standing Committee on preparation for EMU.
The British Chambers of Commerce (BCC) represents, through a quality assured, national network of Accredited Chambers of Commerce, more than 126,000 businesses in all sectors of the economy, and of all sizes. Accredited Chambers seek to represent the interests and support the competitiveness and growth of all businesses in their communities and regions.
The BCC is co-ordinating the UK's business-led, government-backed National Enterprise Campaign.
"NEW YEAR'S RESOLUTION FOR EMPLOYERS - PAY THE MINIMUM WAGE" SAYS ALAN JOHNSON
Cheer for workers as minimum wage recovery reaches £500,000
Government enforcement officers at the Inland Revenue have now recovered over £500,000 worth of minimum wage underpayments for workers and issued 66 enforcement notices on employers, Competitiveness Minister Alan Johnson announced on the 29 December 1999.
He also warned scrooge employers that they had better resolve to pay the minimum wage or expect a visit from Government enforcers in the New Year.
Mr Johnson said:
"These figures show that we are taking effective action to help people who are not being paid the minimum wage. Half a million pounds is a considerable sum and all the more important because this is money going to the poorest paid workers where a few pounds makes a real difference.
"Enforcement is working - and that is good news for all those businesses who are playing fair but are being undercut by unscrupulous and mean rivals. Employers not paying the minimum wage had better make a New Year's resolution to pay the minimum wage - or our enforcers will be after them. Poverty pay is the ghost of Christmas past and has no place in the new Millennium."
In the past few weeks, Inland Revenue officers have taken four cases to employment tribunals on behalf of workers. All the cases have been won, which is good news for the workers concerned. One taxi driver in Somerset, a father of nine, was awarded nearly £500 just in time for Christmas. Altogether, 3436 complaints have been made to the enforcers in the eight months since 1 April and all of these will be followed up.
Mr Johnson added:
"We have now issued 66 enforcement notices but, so far, we have not had to use any of our powers to penalise employers. Those employers trying hard to emulate Scrooge can be assured we will use the powers if we have to. Employers who flout the law will have no hiding place!
"Much of the work of enforcement has been going on behind the scenes, without the need for direct action by our officers. The full figure for extra wages paid out is much higher than £500,000 because most employers willingly make up the difference when they see the publicity or speak to the helpline.
"Any workers concerned they are not being paid the minimum wage, or anyone wanting information on the minimum wage, should call the confidential minimum wage Helpline number 0845 6000 678. Every complaint is followed up."
The Lord Chancellor, Lord Irvine, is to abolish the £80 court allocation fee for defended civil actions worth £1000 or less. He announced on the 6 January 2000 that legislation to remove this fee on these small claims is expected to come into force in April 2000. Thus people will be able to take disputes about these modest sums to court without facing disproportionate court fees.
Lord Irvine said in Parliament in November 1999 that he was sympathetic to emerging concerns about the £80 allocation fee where relatively small amounts were disputed. He has now acted to ensure access to justice in these claims.
Lord Irvine said, "The civil justice reforms introduced in April 1999 are the most significant changes to the civil courts this century. They are intended to increase access to justice and I believe they are largely succeeding. But reform is about continuous improvement and these changes to allocation fees will benefit individuals and small businesses alike when amounts of £1000 or less are in dispute.
"It has become clear that the £80 allocation fee is too high when relatively small sums are in dispute. To go to court over a claim worth £200 would cost a total of £100 in fees. I want to ensure that people are not deterred from seeking redress.
The Civil Justice Council and senior judges shared Lord Irvine's concern that the allocation fee might be disproportionate in these small claims.
At present, people bringing cases pay an initial issue fee to the court which depends on the value of their claim. Issue fees range from £20 for a claim worth £200 to £70 for a claim worth £1000. But if the defendant disputes the claim, the claimant also has to pay the £80 allocation fee - if he wishes to continue with the claim - regardless of the sum involved.
£5 will be added to the issue fee for claims of £1000 or less at the same time as the £80 allocation fee is removed. For a member of the public this would mean an issue fee of £25 would be the total paid in a disputed claim of £200 or less, while an action for £1000 would cost £75. This compares with the current total fees of £100 or £150 respectively. There are likely be additional changes to court fees generally in the light of a consultation paper to be issued by the Court Service shortly, in response to the civil justice reforms introduced last April.
Lord Irvine said, "The issue fee is essentially a modest amount and is of value to the litigant because it purchases both the opportunity to commence proceedings in the courts and the right to obtain a fair settlement."
At present the fees for issuing a claim form for cases to a value of £1000 or less are as follows:
The figures in brackets are the fees for issuing a claim form through the Claims Production Centre.
The County Court Fees Order is made by the Lord Chancellor, with the concurrence of the Treasury (by provision of section 128 of the County Courts Act 1984).
The necessary legislation to dispense with the 'allocation fee' for claims under £1,000 will come into force in April.
NEW ENFORCERS TO HELP PEOPLE GET WHAT THEY ARE OWED AFTER CIVIL COURT ACTIONS - PROPOSALS IN LCD REVIEW
Special enforcers might be appointed by the courts to help people get the money they are awarded in civil actions, the Lord Chancellor, Lord Irvine, said on the 7 January. They could be given powers to find out about debtors' assets from third parties and could actively pursue ways of enforcing court decisions to help people get what the courts say they are owed, according to a consultation paper published by the Lord Chancellor's Department.
Lord Irvine said, "Taking someone to court is a daunting enough prospect in itself. But for too many people, getting a judgement in court is the easy part. Their problems begin after the hearing is over. Too often it is difficult for them even to find out whether the debtor has any assets, let alone to get paid what the court says they are entitled to have."
The consultation paper on enforcing civil court judgements is the latest part of a review which spotlights potential improvements to current procedures. The aim is to make enforcement of court decisions as efficient and effective as possible. The review is expected to be completed in June 2000. It recognises widespread problems in how civil court judgements are enforced at present -
Obtaining more and better information about debtors' finances is seen as crucial to ensuring payment for creditors. At the moment, creditors must rely on a debtor's willingness to co-operate in providing information. It is too easy for a debtor to delay, or avoid giving information. Officials are working on the details of how information could be obtained from sources already identified in the review, particularly: -
But the consultation paper concedes that there are arguments against allowing detailed information to be passed directly to creditors. It might be difficult to satisfy data protection requirements or to police how the information is used by creditors.
The consultation paper says a solution might be to appoint independent officials who would have powers to obtain information about debtors from third parties and who would also be given powers to make decisions in the interests of creditors. Debtors who failed to provide satisfactory information about their financial circumstances would be told that the court could use powers to obtain information from third parties. It is hoped that, faced with these powers, debtors will co-operate more in voluntarily providing information.
The new paper also invites views on possible improvements to a range of procedures: the processes of issuing enforcement warrants and writs; oral examinations of creditors and judgement summonses. Its proposals are based on the conclusions of panels of experts convened by the Department. The law governing the work of bailiffs is being reviewed separately by Professor Jack Beatson QC. A Consultation paper will be published in due course.
At present, warrants of execution - or writs of fieri facias in the High Court - are the most common way of ensuring payment of an outstanding debt. They allow bailiffs or sheriff's officers to seize a debtor's goods and sell them to pay off debts and costs. Other methods include an attachment of earnings order which requires a debtor's employer to make deductions direct from pay; charging orders which allow a creditor to secure a debt against the debtor's property such as a house or shares; and garnishee orders which allow a creditor to seize money owed by a third party to the debtor - most frequently used to obtain money held a debtor's bank account. These procedures were the subject of a previous consultation paper, issued in October 1999.
Responses to 'Enforcement Review Consultation Paper 4: Warrants and Writs, Oral Examinations and Judgement Summons' are invited by 3 March 2000. They should be sent to David Goss, Civil Justice Division, Lord Chancellor's Department, Room 3.23, Selborne House, 54-60 Victoria Street, London SW1E 6QW.
The 1997 research in enforcement was conducted by Prof John Baldwin for the Lord Chancellor's Department and was entitled 'Monitoring the rise of the small claims limit: litigants' experiences of different forms of adjudication'.
Recent consultation papers issued in the review of civil court judgements are Consultation Paper 2: Key principles for a new system of enforcement in the civil courts (CP6/99, May 1999) Consultation Paper 3: Attachment of earnings orders, charging orders and garnishee orders (CP9/99, October 1999)
BYERS TO HELP UK SMEs FOSTER EXPORT LINKS WITH INDIA
Improving trade between small and medium-sized enterprises in the UK and India will be a key priority for Stephen Byers, Secretary of State for Trade and Industry, during his New Year visit to India.
Mr Byers will announce the Global Enterprise Initiative (GEI), an Indo-British Partnership (IBP) trade development scheme to link UK and Indian SMEs and encourage them to develop joint ventures.
The IBP was launched in 1993 to boost trade and investment between India and Britain.
Mr Byers said:
"Small and medium-sized businesses are among the most enterprising and ambitious firms in the UK and India and they play a vital role in our economies. Both Governments are committed to building an enterprise culture in which small businesses thrive and achieve their potential as we face the challenge of competing in the knowledge-driven economy of the 21st century.
"The GEI is the latest example of our efforts to enhance bilateral trade and investment. Facilitating trade between SMEs in both countries can only build upon this strong economic relationship."
Mr Byers will be witnessing the signing of two contracts won as a direct result of a GEI pathfinder visit in October to Hyderabad and Ahmedabad. Antec International and Gemini Dataloggers will be signing a distribution agreement and a joint venture respectively during the visit.
He added:
"It is success stories such as these that underline the value of trade between our countries. Since the launch of the IBP two-way trade between the UK and India has increased dramatically and is now worth over £4 billion a year. I am pleased to say that this key partnership is delivering real results.
"The UK and India have much in common with each other. We are both trading nations with an entrepreneurial culture and an eagerness to embrace innovation. In the last decade we have seen huge increases in bilateral trade and investment and we look forward to seeing further dramatic growth in the future. British Trade International is working very closely with our Indian partners to achieve this, pinpointing opportunities for British firms.
"The Government of Prime Minister Vajpayee has signalled its clear determination to build upon India's impressive economic growth record. British business wants to help in that process of developing prosperity."
India is the world's second largest emerging market. The UK Government has designated India as one of the UK's 15 campaign markets. The UK is the largest cumulative foreign investor in India with investment exceeding £3 billion.
Exports of goods to India totalled £1212 million between January 1999 and October 1999; imports of goods from India totalled £1220 million in the same period.
ECGD BACKING PUTS MARCONI RAILWAY DEAL IN CHINA ON TRACK
Richard Caborn, the Minister for Trade, has announced ECGD backing for a contact won in China by Coventry-based Marconi Communications China Limited.
Marconi has been given an order by the People's Republic of China's Ministry of Railways to supply, install and commission Synchronous Digital Hierarchy (SDH) digital optic fibre transmission equipment and a high level network management system covering eight trunk routes, comprising 6,000 kilometres of railway track, across China.
This extra capacity will enable the Ministry of Railways to offer telephone services to a wide range of users as well as providing automated ticketing for rail travellers.
ECGD has underwritten a US$26 million loan from ANZ Investment Bank to the China Development Bank to help finance the deal. This is the first time a contract awarded by the Ministry of Railways has been financed by the use of export credit.
Marconi's contract formed part of the high level discussions which took place during the state visit to London of President Jiang Zemin last October.
Mr Caborn said:
"This is another fine example of the excellent trading relations the UK now has with China. I am delighted that Marconi is building on past success in the market with the help of ECGD. This relationship is producing significant benefits for jobs up and down the country."
Mr James Chiu, President of Marconi Communications Asia, added: "Marconi is totally committed to continuing to supply its equipment throughout China, and a vital ingredient in our success is the support we continue to receive from ECGD."
*** Forthcoming Creditors Meetings ***
Contributed byhttp://www.insolvency.co.uk
For more detailed information and ALL the British Isles insolvency's (liquidation's, receiverships, administrations, dividends, creditors) please visit http://www.insolvency.co.uk
From 10/01/2000 to 18/01/2000 Number of Creditor meetings : 162 Section Company Time Venue 138 Scotland - Interim Liquidator calling Creditors Meeting 10/01/2000 Glen Scotia Distillery Co Ltd 12.00 pm Glasgow 11/01/2000 Standvale Ltd 10.00 am Glasgow Struie Construction Ltd 02.00 pm Inverness 14/01/2000 Shaws MBM Ltd 10.00 am Aberdeen 23 Administrator Calling a meeting of Creditors 17/01/2000 Crisco Carpets (Contracts) Ltd 11.30 am Birmingham Crisco Carpets (Floorstyle) Ltd 11.45 am Birmingham Crisco Carpets Ltd 11.00 am Birmingham 48 Receiver calling unsecured Creditors Meeting 10/01/2000 Quarry Services Ltd 10.00 am Sheffield 11/01/2000 M & N (Cable & Installations) Ltd Bristol M & N Civil Engineering Ltd Bristol M & N Contractors Ltd Bristol M & N Plant Ltd Bristol Utility Consultants International Ltd Bristol 13/01/2000 Advantage Healthcare (T15) Ltd 11.00 am Solihull Advantage Healthcare (T18) Ltd 11.00 am Solihull Advantage Healthcare (T22) Ltd 11.00 am Solihull Advantage Healthcare (T23) Ltd 11.00 am Solihull Advantage Healthcare (T26) Ltd 11.00 am Solihull Advantage Healthcare (T31) Ltd 11.00 am Solihull Advantage Healthcare (T34) Ltd 11.00 am Solihull Advantage Healthcare (T41) Ltd 11.00 am Solihull Advantage Healthcare (T48) Ltd 11.00 am Solihull Advantage Healthcare (T50) Ltd 11.00 am Solihull Advantage Healthcare (T52) Ltd 11.00 am Solihull Advantage Healthcare (T53) Ltd 11.00 am Solihull Advantage Healthcare (T57) Ltd 11.00 am Solihull Advantage Healthcare (T58) Ltd 11.00 am Solihull Advantage Healthcare (T59) Ltd 11.00 am Solihull Advantage Healthcare (T60) Ltd 11.00 am Solihull Advantage Healthcare (T61) Ltd 11.00 am Solihull Advantage Healthcare (T67) Ltd 11.00 am Solihull Advantage Healthcare (T7) Ltd 11.00 am Solihull Advantage Healthcare Management Ltd 11.00 am Solihull Care Focus (NHP) Ltd 11.00 am Solihull 14/01/2000 A C Edwards Ltd 10.00 am London Gaydon Press Ltd 10.30 am London Hexar Ltd 12.00 pm London 17/01/2000 Drakes Confectionery Ltd 11.00 am London Melloross Foods Ltd 11.00 am Reading 95 Members converting to Creditors Voluntary Liquidation 10/01/2000 Noblett & Underwood (London) Ltd 10.00 am Manchester 98 Creditors Voluntary Liquidations 10/01/2000 CGS Digilink Ltd 10.30 am Liverpool Counters Plus Ltd 11.00 am Barnsley Creative World Ltd 12.00 pm St Albans Delia Marketing Ltd 11.00 am London Diamond Electrical Contracts Ltd 03.30 pm London Groundscape Management Services Ltd 10.30 am London Idle Car Radio Ltd 10.15 am Bately K & L Recruitment Ltd 11.30 am Slough Key Audio Services Ltd 10.30 am Harrow Manchester Black Community Trust 03.30 pm Manchester Mentgrove Ltd 10.30 am Sutton Music Connections Chelmsford Ltd 10.30 am Harrow Roi-Al Ltd 02.00 pm London Scott Build (Exeter) Ltd 11.00 am Exeter Sport Dog Ltd 12.00 pm Manchester Totalreach Ltd 04.00 pm Croydon Transcom Marketing Ltd 03.00 pm London Triphaven Properties Ltd 10.00 am Bingham V F S Ltd 11.15 am London 11/01/2000 A M Interiors Ltd 12.00 pm Scunthorpe Abbotchoice Computers Ltd 12.00 pm London Ablesure Ltd 11.30 am London Bluechip Printing Centre Ltd 11.20 am Manchester Boorman Electrical Ltd 02.00 pm London Building Supplies (Balby) Ltd 10.30 am Nottingham CSM Rider Training (UK) Ltd 10.00 am London Capriwood Ltd 11.15 am Sutton Caveglow Ltd 11.00 am London Cent Realisations (Tyne & Wear) Ltd 11.30 am London Cockney Rebel Holdings Ltd 11.00 am London Coseley Developments Ltd 03.00 pm London D M Building Contractors Ltd 11.30 am Gloucester Design Ethos Ltd 11.00 am Nuneaton Enterprise Engineers Ltd 11.00 am Edgware Enviromatic UK Ltd 11.00 am Sunderland Gulfam Ltd 10.30 am Manchester Lifetec Autoprop Ltd 11.30 am Old Fletton Loaded Aggregates Ltd 02.00 pm London Manorgold Ltd 03.00 pm London Maxiport Ltd 04.00 pm London Nesa Ltd 12.00 pm London Omni Digital Technologies Ltd 11.30 am Dudley Premier Land Management Services Ltd 11.15 am London S Lee Manufacturing Ltd 11.00 am Manchester StageCo Ltd - The 10.30 am Reading Valliecrest Ltd 11.00 am London W G Scaffolding Ltd 10.15 am London Weyland Fabrication Ltd 11.00 am West Sussex 12/01/2000 Alan Wellfare Ltd 11.30 am Southampton Amlec Ltd 11.00 am Birmingham Biohazard Ltd 12.00 pm Barnwood Cafe 2000 Ltd 12.00 pm London Churchbridge Ltd 11.00 am Northampton Compass Aluminium Design Ltd 10.15 am Bately David Yarnold (Machinery) Ltd 12.00 pm Worcester E Z Link Ventures Ltd 02.30 pm Southampton Erreys Employment Ltd 12.30 pm Eastbourne Gabo Ltd 02.00 pm London Gingo Designs Ltd 10.30 am London Hivebury Ltd 11.00 am Birmingham Inchlead Ltd 11.30 am Cheadle J A Skeens Contractors Ltd 11.15 am Southampton J G Promotions Ltd 11.30 am Southampton Limmit Pressing Ltd 02.00 pm Birmingham Motech Ltd 11.30 am Manchester Pendulum Motor Co Ltd 11.30 am Walsall Quality Manage Consult & Training Ltd 11.00 am London Rosswall Ltd 11.00 am Northwich SDET Design Ltd 11.00 am London Savannah Denim Services Ltd 11.00 am Bolton Solastar Ltd 04.00 pm London Southern Counties Leisure Ltd 10.30 am Reading Ventilation Accessories Ltd 11.30 am Preston 13/01/2000 Agincourt Electronics Ltd 02.00 pm Newport Complete Car Care Ltd 11.30 am Altrincham FCS (UK) Ltd 03.00 pm Brixham Flamingo Restaurant Ltd 11.00 am Liverpool Love London Ltd 10.30 am London M B Spares Ltd 02.00 pm Halesowen Orbital Blotech Engineering Ltd 11.00 am Liverpool Pantera Group Ltd 11.15 am Sutton Patex (Retail) Ltd 10.15 am Leeds Patex Ltd 11.00 am Leeds Real Food Ltd 12.15 pm London S J Aylward Ltd 12.00 pm London Violet Designs Ltd 04.00 pm London W P Jackson (Insulation Services) Ltd 12.00 pm Liverpool 14/01/2000 Action Based Consultants Ltd 10.30 am Cardiff Berkeley Playhouse Group Plc - The 11.30 am London D F C S Ltd 03.00 pm London Eueo Separates Ltd 03.00 pm London French Quarter (UK) Ltd 10.30 am Tebay Future Plastics Ltd 03.30 pm London Griffin Interior Construct (Hold) Ltd 12.00 pm London Griffin Interior Construction Ltd 10.15 am London Infynity Ltd 11.30 am London Keighley Developments Ltd 11.30 am Leeds Komplete Systems Ltd 02.30 pm London Lalbridge Ltd 12.00 pm Hale Logsys Training Ltd 12.00 pm Manchester Seeview I T Ltd 11.00 am Birmingham Sheerness Amusement Park Ltd 10.00 am St Albans Solar Offset Ltd 10.30 am London Sunderland Glassworks Ltd 11.00 am Newcastle-u-Tyn Tradexport Services Ltd London Vytel Contract Services Ltd 11.00 am Sheffield 17/01/2000 Foster Financial Computing Ltd 11.30 am Southend-on-Sea Gearcare Ltd 10.15 am Weybridge Kirkdale Engineering Ltd 02.00 pm Newcastle-u-Tyn Musical Theatre Ltd 12.00 pm London Parman Industrial Electrics Ltd 11.30 am London Specialised Const & Remedial Serv Ltd 02.30 pm Warrington Tiptel Ltd 11.15 am London 18/01/2000 Automated Training Systems Ltd 03.15 pm London Computer Mania Ltd 12.30 pm Bournemouth Mutual Building Co Ltd 12.00 pm Longford P & D Patternmakers Ltd 11.30 am Dudley Prestige Heating Direct Ltd 11.30 am Altrincham R J Supplies Wholesale Ltd 02.30 pm Paisley Strata Windows Ltd 11.00 am Bolton Strombuzz Ltd 10.30 am Paisley Taskforce Labour Hire Ltd 12.00 pm London
TW LW TW LW
USA 1.64 1.60 Canada 2.37 2.37
Austria 22.03 21.82 Portugal 321.10 317.86
France 10.50 10.42 Belgium 64.61 63.96
Finland 9.52 9.42 Italy 3101.22 3069.60
Germany 3.13 3.10 Sweden 13.76 13.61
Holland 3.52 3.49 Switzerland 2.56 2.54
Spain 266.49 263.81 Ireland 1.26 1.25
Australia 2.49 2.50 Denmark 11.91 11.80
Hong Kong 12.76 12.43 Euro 1.60 1.58
Africa Com 10.04 9.82 Saudi Arabia 6.15 6.00
India 71.42 69.58 Malaysia 6.23 6.08
Singapore 2.71 2.67 Norway 13.02 12.79
Japan 168.98 165.15
TW This week LW Last week.
MERGER CLEARANCE
The Secretary of State for Trade and Industry has decided, on the information at present before him, and in accordance with the recommendation of the Director General of Fair Trading, not to refer the following merger to the Monopolies and Mergers Commission under the provisions of the Fair Trading Act 1973:Proposed acquisition by the Post Office of Citipost Corporation, Citipost (Europe) Ltd and Citipost (Asia) Ltd
Proposed merger between Celltech Chiroscience Plc and Medeva Plc
Proposed merger between The Wireless Group Limited and Independent Radio Group Plc
Proposed acquisition by HLF Insurance Holdings Limited of Erycinus Plc and Lambert Fenchurch Group Plc
Acquisition by Candover Investments Plc and City Industrial Limited of assets of the Peninsular and Oriental Steam Navigation Company namely Earls Court and Olympia Limited
Acquisition by SCA Holdings Ltd of AM Paper Group Ltd
Acquisition by Vodafone Distribution Holdings Ltd of UniqueAir Ltd
Source - The Economist
17 January 2000 Wessex branch meeting of the ICM Would we be better off under Scottish Law? Presentation by Bishop & Robertson The Southampton Yacht Club 1 Channel Way, Southampton 7.00pm for 7.30pm 17 February 2000 The ICM Construction Industry Conference "The Changing Face" Kingsway Hall, London WC2 A must for all those involved in the UK Building and Construction Industry 21 February 2000 Wessex branch meeting of the ICM Mock Meeting of Creditors The Southampton Yacht Club 1 Channel Way, Southampton 7.00pm for 7.30pm 8 March 2000 ICM Conference on Commercial Credit Fraud CBI Conference Centre, London WC1 Exhibitors should telephone Sheila Simmons at the ICM on 01780-722907 14 to the 16 March 2000 Credit 2000 THE UK event for the Commercial and Consumer Credit Industry Olympia, London
To unsubscribe to this list please send e-mail addressed to listserver@insolvency.co.uk as follows:
unsubscribe credit-news your e-mail name and address
Name: Business Credit News UK
Address: credit-news@insolvency.co.uk
Commands: listserver@insolvency.co.uk
Business Credit Management UK: John Arnold jarnold@creditman.co.uk
Business Credit News UK: Pat Williams pwilliams@creditman.co.uk