The number of new cases of fraudalent action by asset based lending companies has reduced

The number of complaints to RABF has reduced, which is reflected in the collapse in the number of insolvencies linked to the industry.

It is hard to work out is this down to the likes of David Thomson at Close Brothers (one of the worst offenders for closing solvent companies) suddenly been visited by the Ghost of Christmas past , present and future to change their evil ways?

Or is it down to the ABFA new code of conduct?  With a maximum fine of £25K and no further action, highly unlikely as a factoring company cane make £500K by putting a company into insolvency.

Or is it the fear of being exposed in the Times, FT, Telegraph, Mirror or in the Mail?  James Hurley must take the credit for series of articles that highlighted the sheer size of the abuse within the asset based finance industry.

 

James Hurley - Exposed the abuse within the asset based finance industry

RABF will take every action to expose any factoring company and insolvency practitioner who crosses the line