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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

Velux closure in Glenrothes to cost 180 jobs

Velux closure in Glenrothes to cost 180 jobs 2 October 2014 | BBC NEWS A factory in Fife is to close with the loss of about 180 jobs under proposals announced by its Danish owners. The Velux Group said its Fife Joinery Manufacturing facility in Glenrothes would shut by the autumn of next year. The… Continue Reading

Toxic finance: Reckless payday lender Wonga wipes mountain of debt

Toxic finance: Reckless payday lender Wonga wipes mountain of debt October 02, 2014 | RT Thousands of customers who took loans with controversial pay day lender Wonga are to have their debts written off, in an action expected to cost the ‘legal loan shark’ more than 200 million pounds. The company will….” http://rt.com/uk/192600-wonga-fca-payment-public/

United Kingdom: Litigation Funding: No Extension to the Insolvency Exemption

United Kingdom: Litigation Funding: No Extension to the Insolvency Exemption 23 September 2014 | Estelle Victory | Reed Smith As readers may be aware, general changes to the ability to recover litigation funding under certain mechanisms came into general effect in 2013 pursuant to the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (‘LAPSO’). … Continue Reading

Uncertain wait for Hatts Coaches creditors

Uncertain wait for Hatts Coaches creditors By Storm Rannard | O1 OCT 2014 | INSIDER MEDIA LIMITED Unsecured creditors of Hatts Coaches face an uncertain wait over whether or not they will be reimbursed, including holidaymakers who have filed claims totalling more than £190,000, Insider can reveal. The group collapsed in July….” http://www.insidermedia.com/insider/south-west/124489-uncertain-wait-hatts-coaches-creditors/

110 jobs lost at engineering business Caip

110 jobs lost at engineering business Caip 01 Oct 2014  |INSIDER MEDIA LIMITED A technical engineering business with sites in Lymington and Didcot has gone into administration with 110 jobs lost. Administrators from KPMG have been called in at Warrington-headquartered Caip Ltd,….” http://www.insidermedia.com/insider/south-east/124457-110-job-losses-warrington-engineering-business?utm_source=southeast_newsletter&utm_medium=business_article&utm_campaign=southeast_news_tracker

Major changes afoot to calculating the PPF levy

Major changes afoot to calculating the PPF levy September 30 2014 | LEXOLOGY Earlier this year, the Pension Protection Fund (PPF) published its consultation on the second PPF Levy Triennium (2015/16 to 2017/18) which proposed wholesale changes to the measure of insolvency risk and significant changes in respect of contingent assets and the PPF’s treatment… Continue Reading

Jim Armitage: Chasing pesky creditors, the Wonga way

Jim Armitage: Chasing pesky creditors, the Wonga way Jim Armitage | 01 OCTOBER 2014 | THE INDEPENDENT Outlook Wonga has been keen to stress that all those involved in its phoney legal letters scam have now all gone. But that begged the question: where to? One has resurfaced at an even bigger outfit, with what… Continue Reading