Credit Insurance is in Fashion!

CMR Insurance Services will be visiting the Moda fashion exhibition at the NEC Birmingham, where some of our fashion and footwear sector customers are showing their new ranges.

Credit Insurance and Chapter 11

As predicted in our previous blog entry, Kodak has filed for Chapter 11 protection in the USA.

Under the US Bankruptcy laws, Chapter 11 gives protection against litigation for non-payment, so that the business can try to restructure, as well as some other potential rights such as being able to cancel contracts or to refinance the business, offering new lenders priority on earnings.

The timescale for a company in Chapter 11 can be a few months, or many years, depending on the individual circumstances.