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Top Service News

Redditch based company supports staff with £250 Winter fuel payment

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Redditch based company, Top Service Ltd the only credit reference and debt recovery agency specifically for the construction industry has announced it will provide staff with a £250 payment in October 2022 to help with the rising cost of living and soaring energy bills. In addition to the Government’s £200 discount on gas and electricity […]… Continue Reading

Purchase Orders: Can They Be Legally Binding?

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Written by Zahida Shah, Silverback Commercial Law Services What is a Purchase Order? A purchase order is a commercial document whereby one business lets a supplier know they intend to buy goods from them.  This is the reverse of an invoice because it is a list of items the business intends to buy and will […]… Continue Reading

National Insolvency Report: Monthly Statistics March 2022

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National Insolvency figures published (22 April 2022) by the Government’s Insolvency Service have indicated that the number of registered company insolvencies in March 2022 was 2,114: More than double the number registered in the same month in the previous year (999 in March 2021), and 34% higher than the number registered three years previously (pre-pandemic; 1,582 in March […]… Continue Reading

GOVERNMENT ANNOUNCES END TO LAST OF TEMPORARY INSOLVENCY MEASURES

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The Government has announced (28 March 2022) that the last of the Temporary Insolvency Restriction Protections are being lifted.  To help protect businesses from insolvency a number of changes were introduced under the Corporate Insolvency and Governance Act (Coronavirus) to protect business from creditor action since June 2020.  Most of these measures expired at the end […]… Continue Reading

Dispute Resolution/ADR: What is it and does it really work?

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In an ideal world, the objective of a party entering into a contract is to ensure that their matter runs as smoothly as possible, with both parties involved hopeful that it will be completed on time and as agreed. Having said that, even the most carefully laid out matters do not always go exactly as […]… Continue Reading

National Insolvency Report: Monthly Statistics February 2022

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National Insolvency figures published (16 March 2022) by the Government’s Insolvency Service have indicated that the number of registered company insolvencies in February 2022 was 1,515: More than double the number registered in the same month in the previous year (685 in February 2021), and 13% higher than the number registered two years previously (pre-pandemic; 1,346 in February […]… Continue Reading

What is Insider Intelligence and how can it help my construction business?

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Insider Intelligence is our construction industry specific information that provides up to date, relevant, reliable information to enable more informed business decisions to be made when accepting an application for a trade credit account. When mainstream agencies look at credit information they number crunch. They use the last set of accounts and any public record […]… Continue Reading

What is a Winding-up Petition?

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A winding-up petition is the first step towards obtaining a winding-up order against a business that has substantial unpaid debt.  If a winding-up order is subsequently made, it will enter compulsory liquidation, cease trading and the conduct of its directors will be investigated. What does it mean if one of your customers has a Winding […]… Continue Reading

National Insolvency Report: Monthly Statistics January 2022

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National Insolvency figures published (15 Jan 2022) by the Government’s Insolvency Service have indicated that the number of registered company insolvencies in January 2022 was 1,560: More than double the number registered in the same month in the previous year (758 in January 2021), and Similar to the number registered two years previously (pre-pandemic; 1,508 in January 2020). […]… Continue Reading

Phoenix operations and the legalities of rising again

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A phoenix operation is when a company is liquidated and the directors simply buy its assets cheaply, set up a new company, and continue to trade with the same or a similar name. Hiding previous failures from the public, it lets them leave creditors with nothing. As phoenix operations rise from the flames, it’s often […]… Continue Reading