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Acquisitions of insolvent business debt help customers falls

Date Added: 04/02/2011  

Acquisitions of insolvent business debt help customers has fallen over the course of the second half of last year, according to new research.

The study by Experian Corpfin on behalf of the insolvency trade body R3 found that 100 deals in the UK involved companies acquired out of administration between July and December 2010.

While this represents a fall on the figures from the previous six-month period, R3 noted that it still makes up a significant proportion of all the mergers and acquisitions activity taking place in the UK.

"Insolvent deals have been running at high levels since mid-2008, when the economic problems began to set in. The numbers peaked between mid-2009 and the middle of last year," commented the president of the organisation Steven Law.

R3 recently stated that HM Revenue and Customs allows firms such as those taking business debt help access to its Time to Pay scheme too readily and some are taking advantage.

Posted by Julie Cutts  

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