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Recovery specialist Begbies Traynor joins ASTL

by: Heather Greig-Smith
  • 07/02/2017
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Recovery specialist Begbies Traynor joins ASTL
Corporate recovery firm Begbies Traynor has joined the Association of Short Term Lenders (ASTL).

The business rescue and recovery firm was founded in 1989 and now has 44 offices across the UK. It delivers services in corporate recovery, insolvency, restructuring and turnaround, corporate finance, investigations, security risk and forensic accounting.

The majority of the firm’s involvement with ASTL members will be through a specialist property division which provides advice and assistance to first charge lenders when a client suffers financial distress.

Paul Stanley, regional managing partner at Begbies Traynor Manchester, heads up the division.

He said: “Our own values mirror the association’s ethos of integrity, honesty and transparency and, for us, reputation is absolutely key.

“This is one of the reasons why we wanted to become an associate member of the ASTL. We look forward to helping influence the reputation of the industry by working with the association to further improve the standards in the market.”

Benson Hersch, ASTL chief executive, said: “The ASTL’s membership has continued to grow steadily, highlighting how more and more lenders and service providers recognise the value of the association. Due to Begbies Traynor’s practical approach, vast experience and deep industry knowledge, I am confident that it will prove to be a real asset to ASTL members.”

The news follows the ASTL’s decision to outlaw back-charging of interest when a client goes into default.

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