Debt Collector Shuttered Over Opaque Accounting Practices

Law360, London (February 11, 2020, 12:19 PM GMT) -- A debt collection company has been shut down by a court for failing to account for almost £1 million ($1.3 million) paid into its bank account over two years and overcharging its clients, a government agency said Tuesday.

Deputy District Judge James Brightwell wound up Redwood Business Management Ltd. in the public interest on Feb. 3, the Insolvency Service said. Judge Brightwell appointed the Official Receiver as liquidator of the company at the High Court, which was sitting in Manchester in north west England.

Redwood, which has its registered office in Newcastle upon Tyne in north east England, cold-called clients to offer...

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