The new enforcement remedy of "money attachment" was introduced in Scotland on 23rd November 2009. This will enable a creditor holding a decree, or other enforcement document, to attach money, including foreign currency, held in business premises in the same manner as judgment enforcement against other moveable property. However creditors will be disappointed that attachment of money inside a house will be ex…

With market research confirming that consumer understanding of the cheque clearing process is still very low, the Cheque and Credit Clearing Company (C&CCC), has today (27 November 2009) launched an online film that helps explain the different stages involved in clearing a cheque. The 'Animated Guide to the Cheque Clearing Process' is a two-minute film that clearly explains how a cheque is cleared - showing how, when and w…

Commercial decrees jump There were 2087 decrees against businesses in Scotland in the third quarter of 2009, an increase of 42 percent compared with the same quarter of 2008. The average value of decrees fell slightly. As a result the total value of decrees last quarter was 3 millions, still up substantially compared with 2.3 millions last year. Consumer decrees steady There were 8,030 individual d…

In research conducted for National Identity Fraud Prevention Week this month, Equifax revealed a lack of awareness, among business owners, regarding some of the most prevalent types of corporate fraud. In response to this trend, Equifax is launching an updated version of its Corporate Identity Fraud Guide, offering businesses expert help and advice on understanding and tackling the risks. The 16-page guide outlines the …

Philip Duffy, Geoff Bouchier and David Whitehouse of MCR have been appointed Joint Administrators of book-store chain Borders (UK) Ltd. Borders (UK) Ltd, which has 45 branded Borders and Books Etc stores across the UK. The Administrators are currently working with the management of Borders (UK) Ltd in order to maximise the realisation for the Company's creditors. Some 1,150 employees are affected. The a…

An overwhelming majority of financial advisers say that securing funding for small and medium sized businesses is becoming more troublesome, according to an annual survey benchmarking the opinions of financial advisers and brokers by Bibby Financial Services. The survey, by the UKs largest independent invoice financier, showed that a huge proportion of financial advisers, 91 per cent, stated that securing funding for th…

Jo Milner and Stephen Cork of Smith & Williamson, the Liquidators of Land Heritage (UK) Limited are in the process of finalising certain matters in the liquidation and will soon be able to pay a dividend to creditors. They are waiting on the return of less than 40 outstanding transfer packs to maximise the return to creditors. 436 transfer packs have already been completed and returned. The liquidators require the …

FSB survey reveals eight in ten could go to the wall, and calls the Government to listen to its Give us a Break' campaign. Government plans to change tax rules on holiday properties could leave eight in ten small businesses in the holiday sector at risk of closure, the Federation of Small Businesses (FSB) has warned. Under current rules, businesses run in the holiday sector - known as furnished holiday lettings …

Equifax Inc., a global leader in information solutions, has announced that it has appointed Samir Bhatia as the Managing Director and Chief Executive Officer-designate of its Indian affiliate Equifax Credit Information Services Private Limited. Equifax received in-principle approval for a license to operate a credit information company under The Credit Information Companies (Regulation) Act, 2005, in April 2009 and is working …

JBW, the ethical debt management company, are one of the first bailiff enforcement companies to launch a subsidiary to specifically deal with High Court Enforcement. Working in conjunction with Frank Whitworth an authorised High Court Enforcement Officer (for 22 years), Frank Whitworths family have been Sheriffs and High Court Enforcement Officers for over 55 years. British Gas is the first company to contract the servi…