Lloyds Banking Group has sold-off its private equity investment portfolio to Coller Capital for £1 billion.
In the lead up to December 2011 the portfolio had business debts of around £40 million so the sale will come as a pleasant surprise to many tax payers.
Coller Capital specialises in helping to provide an escape route for businesses looking for an early get-out from their equity investments.
It is said that the transaction made Lloyds around 100p in the £1.
Wednesday, 15 August 2012
Tuesday, 14 August 2012
Alternative Investment Firm to Pay Out More Than They Hoped for
An alternative investment firm, Centaur Global Limited was liquidated back in January and is now being told to repay some of its creditors after an in-depth investigation by the liquidators, Begbies Traynor.
A representative at Begbies Traynor said that they were able to maximise the potential return for the creditors due to a full investigation taking place.
Centaur owed creditors around £2m at the point of liquidation and the creditors had no expectations of getting a return, however, since the investigation the situation has moved in their favour.
Centaur was an investment firm focussing on running a number of funds worth millions surrounding online sports exchanges for the odds on sporting event outcomes.
It just goes to show that even when a limited company has been put into liquidation it doesn't mean that important areas go unnoticed. It is the Liquidators responsibility to carry out these types of investigations and make sure that all areas such as this are fully addressed before moving onto the next case.
A representative at Begbies Traynor said that they were able to maximise the potential return for the creditors due to a full investigation taking place.
Centaur owed creditors around £2m at the point of liquidation and the creditors had no expectations of getting a return, however, since the investigation the situation has moved in their favour.
Centaur was an investment firm focussing on running a number of funds worth millions surrounding online sports exchanges for the odds on sporting event outcomes.
It just goes to show that even when a limited company has been put into liquidation it doesn't mean that important areas go unnoticed. It is the Liquidators responsibility to carry out these types of investigations and make sure that all areas such as this are fully addressed before moving onto the next case.
Africa Olympic Village Closes
The Africa Olympic Village has shut down due to debts that were unable to be paid.
The village was shut down on Wednesday the 8th of August because of the mounting debts that were owed to creditors.
A representative said that the downfall was mainly due to logisitcal issues.
The site played part in hosting music and dance events and is situated in Kensington Gardens in West London.
This information comes as a shock and upset to most that were involved with the village and it seems a shame for the business to hit insolvency so soon during the Olympics.
The village was shut down on Wednesday the 8th of August because of the mounting debts that were owed to creditors.
A representative said that the downfall was mainly due to logisitcal issues.
The site played part in hosting music and dance events and is situated in Kensington Gardens in West London.
This information comes as a shock and upset to most that were involved with the village and it seems a shame for the business to hit insolvency so soon during the Olympics.
Friday, 10 August 2012
Portsmouth to be sold?
Looks like Portsmouth football club is to be sold off after a deal has been struck by administrators to off-load all of the senior players.
The previous FA Cup winners have been insolvent for some time now and they have been considered many insolvency solutions such as a company voluntary arrangement and voluntary liquidation.
The sale of the club will take place next week, days before the new season starts.
This shows the level of business that can struggle with insolvency, it's not exclusive to small UK limited companies. Businesses of all sizes can come into difficult times. The insolvency solutions are often the same to consider and it all depends on the company's situation as to which one they choose to help them towards their goal.
www.companydebt.com
The previous FA Cup winners have been insolvent for some time now and they have been considered many insolvency solutions such as a company voluntary arrangement and voluntary liquidation.
The sale of the club will take place next week, days before the new season starts.
This shows the level of business that can struggle with insolvency, it's not exclusive to small UK limited companies. Businesses of all sizes can come into difficult times. The insolvency solutions are often the same to consider and it all depends on the company's situation as to which one they choose to help them towards their goal.
www.companydebt.com
HMV announce more losses
HMV have recently announced that they have more losses totalling at around £16.2 million and have also taken out a loan to help support the business in the near future.
The retail music firm has had around a 12% drop in profits compared to last year and the loan they have recently taken out is £4.4 million to try and aid the business' future.
The struggling limited company is trying to trade through the difficult period with a venture into selling hardware products and although a spokesperson has said that sales of the hardware products are on the rise, so far the plan doesn't appear to be doing enough.
I for one would like to see HMV stay on the high street as I believe it is a valuable asset to the UK's retail sector and provides a good selection of attractive products.
Retail has been hit hard as we all know and there are many businesses on the high street facing similar situations but with the added challenge of not being able to borrow money for whatever reason. When a limited company is struggling and is approaching insolvency there are a few solutions that can be selected to help the business to either trade on or close down with the potential for the same director to start afresh with a new company.
Simply closing down with debts to consider may be a situation for voluntary liquidation such as a creditors' voluntary liquidation. Alternatively, if you want to keep on trading with the same legal entity you may want to consider a company voluntary arrangement. More about these solutions can be found at www.companydebt.com.
The retail music firm has had around a 12% drop in profits compared to last year and the loan they have recently taken out is £4.4 million to try and aid the business' future.
The struggling limited company is trying to trade through the difficult period with a venture into selling hardware products and although a spokesperson has said that sales of the hardware products are on the rise, so far the plan doesn't appear to be doing enough.
I for one would like to see HMV stay on the high street as I believe it is a valuable asset to the UK's retail sector and provides a good selection of attractive products.
Retail has been hit hard as we all know and there are many businesses on the high street facing similar situations but with the added challenge of not being able to borrow money for whatever reason. When a limited company is struggling and is approaching insolvency there are a few solutions that can be selected to help the business to either trade on or close down with the potential for the same director to start afresh with a new company.
Simply closing down with debts to consider may be a situation for voluntary liquidation such as a creditors' voluntary liquidation. Alternatively, if you want to keep on trading with the same legal entity you may want to consider a company voluntary arrangement. More about these solutions can be found at www.companydebt.com.
Wednesday, 8 August 2012
Year on Year Fall in Compulsory Liquidations
Statistics show that there has been an 18.7% year on year fall for compulsory liquidations from the second quarter of 2012 compared with the same period last year.
The figures are supported with the coming of the Olympics that has had a positive impact on many UK businesses recently.
Against these figures there was also a rise in company voluntary arrangements (CVA's) within the same period which is a positive sign for UK limited companies as this is a solution to help businesses trade on.
There was a slight increase in creditors' voluntary liquidations within this period of around 0.4% against the previous year.
A representative from R3 the Association of Business Recovery Professionals has said that although the retail sector appears to be having its own challenges at the moment, corporate insolvency on the whole is actually down so its a positive outlook for the time-being.
The figures are supported with the coming of the Olympics that has had a positive impact on many UK businesses recently.
Against these figures there was also a rise in company voluntary arrangements (CVA's) within the same period which is a positive sign for UK limited companies as this is a solution to help businesses trade on.
There was a slight increase in creditors' voluntary liquidations within this period of around 0.4% against the previous year.
A representative from R3 the Association of Business Recovery Professionals has said that although the retail sector appears to be having its own challenges at the moment, corporate insolvency on the whole is actually down so its a positive outlook for the time-being.
Monday, 6 August 2012
Could there be trouble for Thomas Cook?
The travel company, Thomas Cook have been struggling for some time. The tour operator firm has just confirmed greater losses in Q2 than they had hoped and is a stark comparison against the profits in 2011.
The total losses for Q2 are said to be £26.5 million. If we compare this against the profits of the same period in 2011 which was around £20.1 million the travel company clearly has cause for concern.
Comparing the same period within a 2 year time frame displays a volatile trend so anything could happen.
They were hoping for sales form their Olympics packages to support them throughout this period, however, sales have been disappointing low.
Many companies are having insolvency difficulties and cash-flow problems at the moment in the UK and deciding which solution to take such as a company voluntary arrangement or biting the bullet and going through a voluntary liquidation can be hard. What sort of solution will Thomas Cook reach for?
A common word mentioned several times when representatives from Thomas Cook have been questioned is 'challenging'.
Let's hope that the travel firm is up to the challenge and comes out stronger on the other side.
The total losses for Q2 are said to be £26.5 million. If we compare this against the profits of the same period in 2011 which was around £20.1 million the travel company clearly has cause for concern.
Comparing the same period within a 2 year time frame displays a volatile trend so anything could happen.
They were hoping for sales form their Olympics packages to support them throughout this period, however, sales have been disappointing low.
Many companies are having insolvency difficulties and cash-flow problems at the moment in the UK and deciding which solution to take such as a company voluntary arrangement or biting the bullet and going through a voluntary liquidation can be hard. What sort of solution will Thomas Cook reach for?
A common word mentioned several times when representatives from Thomas Cook have been questioned is 'challenging'.
Let's hope that the travel firm is up to the challenge and comes out stronger on the other side.
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