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Changes to the Small Claims Track

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From 22nd May, 2024, any money claims up to £10,000 must undergo a free one-hour mediation session through HMCTS’ Small Claims Mediation Service. This means small claims mediation is now mandatory. This new requirement aims to reduce the number of claims reaching court, freeing up to 5,000 judicial sitting days annually to focus on more […]… Continue Reading

Winding-Up Petitions & The Consequences They Can Have On A Business.

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A Winding-Up Petition can have a detrimental Impact on a company and with the number of Compulsory Liquidations rising it’s important to understand the processes, risks and consequences of Winding-Up Petitions, we explain these below. What is a Winding-Up Petition? A Winding-Up Petition is a document filed at the courts usually by a trade creditor, […]… Continue Reading

📉 Insolvency Statistics Update – March 2024

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The Insolvency Service has released the latest figures for March 2024, shedding light on the insolvencies in the UK. Here’s a breakdown of the numbers: Registered Company Insolvencies Breakdown: In March 2024, a total of 1785 company insolvencies were recorded, with the following distribution: 1436 Creditors Voluntary Liquidations 228 Compulsory Liquidations 112 Administrations 9 Company […]… Continue Reading

What makes us different… our Trading Experiences!

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Our specialised focus on the construction industry and access to exclusive trading experience data make us an invaluable resource for companies operating in this sector. Offering real-time trading experience data shared by our members, updated minute by minute Top Service delivers the most relevant and insightful information to help you understand potential customers’ payment behaviour. […]… Continue Reading

Pre Packed Administrations – An overview

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Pre-pack administration is a formal insolvency procedure that enables the quick sale of a struggling business as a going concern.  In this process, the sale of the business is agreed prior to the administrators formally being appointed. While the buyer can be a third party, it is not uncommon for the existing director/directors to operate […]… Continue Reading

Phoenix Companies Unveiled

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A phoenix company is described by the Insolvency Service as the practice of carrying on the same business or trade successively through a series of companies where each becomes insolvent in turn. Each time this happens, the insolvent company’s business (but not its debts) is transferred to a new, similar ‘phoenix’ company. The insolvent company […]… Continue Reading

Director Monitoring

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The Director Monitoring Service allows you to keep track of who is running the companies you are dealing with. You will receive alerts when a director resigns or is appointed at another company, providing valuable insights into leadership changes within your business network. When a director resigns, it can present challenges such as knowledge loss […]… Continue Reading

Our Monitoring Services.

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Monitoring services provide valuable real-time information that can assist businesses in making informed decisions, mitigating risk, and maintaining healthy business relationships within the construction industry.  This service is designed to help businesses stay proactive in managing credit risk and staying up to date about critical changes that will impact their trading relationships . Company monitoring […]… Continue Reading