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Wonga television ad banned over lack of interest rate information

Wonga television ad banned over lack of interest rate information Simon Read | PERSONAL FINANCE EDITOR | 08 OCTOBER 2014 | THE INDEPENDENT Struggling payday lender Wonga’s week just got worse – one of its television ads has been banned for failing to disclose the cost of borrowing. The news follows hard on the high-cost… Continue Reading

Insolvency in the fashion retail sector — understanding and managing the risks of an insolvent acquisition

Insolvency in the fashion retail sector — understanding and managing the risks of an insolvent acquisition October 1 2014 In our “Insolvency in the fashion retail sector: the risks and opportunities” article in the Q2 edition of Global Insight, we looked at the challenges the fashion retail industry faces today and the opportunities available….” http://www.lexology.com/library/detail.aspx?g=abd9d9de-8948-44a6-bff0-340695bac2b7

A ban on payday lending will not abolish human frailty

A ban on payday lending will not abolish human frailty BY JOHN KAY | FT | 07 OCTOBER 2014 The trick seems to be to allow enough legal leeway to keep social harm at modest levels Payday lending offers small sums for short periods of time….” http://www.ft.com/intl/cms/s/0/6bd0c55a-4d43-11e4-bf60-00144feab7de.html?ftcamp=published_links%2Frss%2Fhome_uk%2Ffeed%2F%2Fproduct#axzz3FWhNNhqo

Shaming Wonga is great, but it won’t help people pay the bills

Shaming Wonga is great, but it won’t help people pay the bills It may have written off some of its debts, but until workers’ wages rise in real terms, rapacious lenders such as Wonga will remain a fixture of our world Will Hutton |The Observer |  Sunday 5 October 2014 Just a few years ago,… Continue Reading

Britain Strikes a Blow Against High-Flying Payday Lenders

Britain Strikes a Blow Against High-Flying Payday Lenders By Carol Matlack | 03 OCTOBER 2014 | BLOOMBERG BUSINESSWEEK Payday lenders, purveyors of high-interest, short-term cash advances to working people, aren’t known for their humility. Britain’s largest….” http://www.businessweek.com/articles/2014-10-03/u-dot-k-dot-s-payday-lenders-take-a-tumble#r=rss

Re Pan Ocean: Cross Border Insolvency Regulations – what relief can the court grant?

Re Pan Ocean: Cross Border Insolvency Regulations – what relief can the court grant? October 1 2014 | LEXOLOGY The English Court does not have the power under the Cross Border Insolvency Regulations to grant relief in aid of insolvency proceedings in a foreign jurisdiction which it would not have the power to grant in… Continue Reading

Re Pan Ocean: Cross Border Insolvency Regulations – what relief can the court grant?

Re Pan Ocean: Cross Border Insolvency Regulations – what relief can the court grant? October 1 2014 | LEXOLOGY The English Court does not have the power under the Cross Border Insolvency Regulations to grant relief in aid of insolvency proceedings in a foreign jurisdiction which it would not have the power to grant in… Continue Reading

Campbell v Redstone Mortgages Ltd [2014] EWHC 3081 (Ch) (29 September 2014)

Campbell v Redstone Mortgages Ltd [2014] EWHC 3081 (Ch) (29 September 2014) Neutral Citation Number: [2014] EWHC 3081 (Ch) Claim No: A00DH285 IN THE HIGH COURT OF JUSTICECHANCERY DIVISIONLEEDS DISTRICT REGISTRY 29/09/2014 B e f o r e : Mr Andrew Sutcliffe QC, sitting as a Judge of the High Court____________________ Between: MISS PAULA JAYNE… Continue Reading

Wonga forced to write off £220 million of debt across 330,000 customers

Wonga forced to write off £220 million of debt across 330,000 customers Simon Read | Thursday 02 October 2014 | THE INDEPENDENT Troubled payday lender Wonga has been forced to write off an estimated £220m-worth of debt after the City Watchdog accused it of irresponsible lending. The Financial Conduct Authority….” http://www.independent.co.uk/news/business/news/wonga-crisis-payday-lender-forced-to-write-off-220-million-of-debt-across-330000-customers-9769147.html

Wonga: Politicians and regulators are ignoring the causes of this social cancer

Wonga: Politicians and regulators are ignoring the causes of this social cancer How long do we have to wait before a body with a little more clout takes up the cudgels? Thursday 2 October 2014 | JAMES MOORE | THE INDEPENDENT Slowly but surely the social cancer that is wonga.com is receiving a much needed… Continue Reading