A credit union has been liquidated amid concerns reported to the authorities which are being investigated. South Birmingham Community Credit Union Limited (“SBCCU”), trading as Communisave, has gone into liquidation following an order issued by the High Court. Guy Mander and Graham Bushby of Baker Tilly Restructuring and Recovery LLP have been appointed liquidators of SBCCU. It is the second time this year that Mander and Bushby have been asked to liquidate an insolvent credit union. In April, they were appointed liquidators of Marches Credit Union, which was also liquidated by the High Court amid ongoing investigations. Subsequent court documents revealed Marches Credit Union was liquidated following a suspected embezzlement by a former director who is believed to have attempted suicide, but Baker Tilly said it could not provide further information on the SBCCU appointment. SBCCU had approximately 2,100 members and junior savers across South Birmingham, Bromsgrove and Redditch.....Read more here