Claim for mis-sold interest rate swaps

In the last few days, the big four banks, Barclays, Natwest, Lloyds and HSBC have admitted to mis-selling interest rate swaps to small and medium sized businesses.

An interest rate swap enables the banks to exchange fixed rate interest for variable rate interest over a set period of time. A company typically uses interest rate swaps to limit or manage exposure to fluctuations in interest rates.

In essence, banks offered businesses the opportunity to fix the base rate on a loan at …

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The Glasgow Rangers Effect

In the last month or so HMRC have won and lost two different battles which are likely to change the landscape of football insolvency.

The High Court rejected HMRC’s attempt to get the ‘football creditors rule’ abolished. This means that football clubs and players continue to get preferential financial treatment when a football club goes bust.

In the wake of Glasgow Rangers going into Administration and the exit route of the CVA being rejected by HMRC, the company which owned the club …

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Posted by: / Corporate Recovery & Insolvency / 1 comments

What does liquidation mean and what does a liquidator actually do?

What does liquidation mean and what does a liquidator actually do?

The process of liquidation is when a company is either at or near to the end of its life and the remaining assets need to be liquidated for distribution to creditors and shareholders.  The role of the liquidator is to maximise the realisation of assets of the company.

There are a number of ways which assets can be realised this can be by a sale of the assets or through an investigation …

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FREE FRAUD HEALTH CHECK

In the last few days, CIFAS, the UK’s Fraud Prevention Service announced that fraud committed by staff increased by 14.5% in 2011 compared to 2010.

A quick search over the internet highlights this. By searching for “employee fraud UK” we found the following headlines over only a 5 day period:

Former employee defrauded housing association (21 June 2012)

Bride who stole £200,000 for lavish wedding jailed for 20 months (20 June 2012)

Man jailed for multi-million pound scam (22 June 2012)

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