Accuma sells IVA book
On 30 April 2009 the Accuma Group plc and Wilson Phillips Limited and Accuma Insolvency Practitioners Limited entered into an agreement to sell their Individual Voluntary Arrangements to Grant Thornton UK LLP for an aggregate consideration of £5.6 million.
In February last year, Grant Thornton and its consortium partner Totemic Ltd bought the IVA book of Debtmatters Group Plc for £6.4 million.
Both Accuma and Debtmatters have fallen victim to unacceptable profit margins, increasing costs of case acquisition and reduced fee levels.
Processing the 9,000 or so IVA cases acquired will be quite a challenge!
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- OFT warns debt management and call centres to stop making unsolicited and misleading cold calls, posted on 04-06-2009
- Personal Insolvency Statistics - Q1 2009, posted on 04-06-2009
- Accuma sells IVA book, posted on 04-06-2009
- Exeter City Council made a woman bankrupt for unpaid council tax, posted on 04-06-2009
- Camden Council obtain bankruptcy order against lady with mental health problems, posted on 04-06-2009
- Man made bankrupt for not paying Council Tax, posted on 04-06-2009