How long can I continue to chase what I am owed? Is there a legal time limit that will prevent me from pursuing unpaid invoices? These are common questions that debtors have regarding monies owed to them that we aim to explore in this blog.
"All those involved in debt recovery are aware of the increasingly complex legislative regime in which they operate. This publication gives a practical guide through the regulatory maze." (Stephen Cowan).
Flybmi, the British regional airline that operated short-haul flights, fell into administration on Saturday after being severely affected by ‘spikes in fuel and carbon costs’ due to uncertainty arising from Brexit.
In 2018, Flymbi ran 29,000 flights, with a total 522,000 passengers on its 17 Embraer planes. 376 staff are employment by the East Midlands based airline, which flew to 25 European cities, including Milan and Munich.
The “Common Financial Statement” is a standard budget format which helps creditors, advisers and people with debt get a clear picture of an individual’s or household’s financial situation.
A new method to calculate the financial situation of those who are in debt or facing bankruptcy should be postponed until significant reservations are addressed, according to Holyrood committee.
Following the Economy, Energy and Fair Work Committee’s inquiry into the Common Financial Tool (Scotland) Regulations, the Committee recommended that a more comprehensive review should be carried out, and the introduction of the system be deferred a year until March 2020.
The number of Scottish registered companies failing rose more than 21 per cent during 2018, according to recent statistics. Analysis of the Accountancy in Bankruptcy (AiB) figures found 945 Scottish firms had failed during 2018 compared with 780 in the previous year, the highest annual number of corporate insolvencies since 2012.
Scottish companies which became insolvent or entered receivership increased by four per cent in the third quarter (Q3) of 2018-19, with 209 companies becoming insolvent compared with 201 in the same quarter of 2017-18.
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