Insolvency Service

The Insolvency Service has appointed Duncan Beach as its new chief executive, a move designed to strengthen the agency's capabilities in tackling financial crime and fostering economic confidence. Mr Beach, formerly the managing director and global head of risk & compliance transformation at HSB

The Insolvency Service has welcomed a £25 million investment announced by Chancellor Rachel Reeves in the Budget, aimed at cracking down on rogue company directors. Spread over the next five years, the funding will establish a new Abusive Phoenixism Taskforce. This specialised unit will be sta

A woman from Dumfries and her sister have been banned as company directors for seven years for their role in a scheme that put creditors at risk of losing over £67 million. Joanna Seawright, 54, of Mavis Grove, Dumfries, and her sister Karen Mortimer, 67, of San Miguel de Abona, Tenerife, 

A former interim head of the Institute of Directors (IoD) has been disqualified from acting as a company director for 11 years over the abuse of the Covid Bounce Back Loan Scheme.

The Insolvency Service has launched a new animated video to help people in debt make informed decisions before entering an Individual Voluntary Arrangement (IVA). An IVA is a legally binding agreement between an individual and their creditors to pay back debts over a period of time.

The number of company insolvencies in Scotland saw a slight decrease in July 2025, with 116 firms failing compared to the same month in the previous year. The total was comprised of 68 creditors’ voluntary liquidations (CVLs), 43 compulsory liquidations, four administrations, and one company v

The director of a century-old Scottish machinery firm which went into administration last year has been banned after failing to declare more than £1.5 million in VAT.

Scottish company insolvencies fell by 4% in June 2025 compared to the previous year, with 105 firms collapsing. Experts have warned this may only be a temporary reprieve and a challenging economic climate.

The Insolvency Service has announced plans to play a more prominent role in the fight against economic crime and be recognised as the UK’s leading authority in enforcing corporate and insolvency standards. Its new strategy commits the agency to broadening its remit, taking "robust" action agai

Scotland saw a 13% increase in company insolvencies in May 2025 compared to the same period last year, reaching a total of 133. This rise was primarily driven by an increase in compulsory liquidations, which accounted for 72 cases. The remaining insolvencies included 56 Creditors' Voluntary Liquidat

The Insolvency Service has appointed its first dedicated crypto intelligence specialist to help recover more money for the UK economy from bankruptcy cases. Former police investigator Andrew Small will help track digital assets in criminal cases and provide the agency with detailed knowledge of the

A Scottish mother paid nearly £200,000 to her daughter using funds due to a supplier just days after they decided their company was insolvent and would cease trading.  Hazel Lamont, 74, and her daughter Nicola Murray, 54, were directors of Scotparts UK Ltd, which was described on Companie

The number of company insolvencies registered in Scotland saw a modest decrease in April 2025, falling by 7% compared to the same month in the previous year, with 101 cases recorded. This total comprised 47 creditors' voluntary liquidations (CVLs), 51 compulsory liquidations, and three administratio

In March 2025, there were 118 company insolvencies registered in Scotland, 3% higher than the number in March 2024. The total number of company insolvencies was comprised of 55 CVLs, 57 compulsory liquidations and six administrations. There were no CVAs or receivership appointments.

Latest figures from the Insolvency Service show the agency banned more than 1,000 directors in 2024-25, of which 736 were for Covid loan abuse. The Insolvency Service enforcement outcomes report for 2024-25 was published on 14 April 2025.