34-year-old Sittichok Muangma was arrested on Tuesday for the armed robbery heist on Monday morning outside the Bangkok Bank branch in Chiang Saen when he snatched 1.05 million from an agricultural co-op employee. Mr Sittichok told police he committed the crime to pay gambling debts. Police on Tuesday confirmed that they had arrested the main…
Stanley Ho, a onetime kerosene trader who built a casino empire in Macau that propelled the Chinese island past Las Vegas as the world’s biggest gambling hub, has died at age 98, members of his family said. Known as the King of Gambling, Ho dominated gaming in the former Portuguese colony after winning a monopoly…
Namoi Cotton Namoi Cotton Limited (Namoi Cotton) and Louis Dreyfus Company (LDC) announced today the signing of a Restructuring Term Sheet detailing the proposed restructure of their joint venture, Namoi Cotton Alliance (NCA). This follows an announcement late last month, as part of Namoi Cottons 2019 full year results, that the two companies were in…
JSE-listed capital equipment and solutions provider ELB Group will proceed with selling its Australian business, after a majority of shareholders voting in favour of the disposal. The company hosted a general meeting on May 25 for shareholders to vote on the proposed disposal of ELB Australia. Advertisement ELB Australia imports, distributes and maintains underground utility…
Barnaby Joyce has suggested any employer who wants government to borrow more to help during the COVID-19 crisis must also accept increased taxes. The Member for New England, speaking in Tamworth on Monday, said business should be “prepared to pay the taxes to pay it back”. “Sure you’re happy for us to borrow more debt…
Before the coronavirus pandemic, financial advisors typically recommended people prioritize debt payoff first and foremost. But now that over 36 million Americans are unemployed, the focus has shifted to savings. It is very important to have an emergency savings account. And while experts advise you stash anywhere from three to six months’ worth of expenses…
1. Whats the problem? Emerging markets owe more than $8.4 trillion in foreign-currency debt, or about 30% of the developing worlds gross domestic product. At least $730 billion is coming due through the rest of this year, as many of these nations see the worst of the virus, which will severely tax health systems. The…
The authors had previously highlighted the UK Governments intention to introduce: (i) a number of reforms to the UKs insolvency framework; and (ii) a series of temporary changes to the corporate governance requirements for companies and other entities arising as a result of the impact ofCovid-19. In this QuickStudy, we set out the key features…
National restructuring and insolvency firm Jirsch Sutherland has strengthened its Brisbane office with two new senior hires. Melissa Lau has joined Jirsch Sutherland as a partner, having previously worked as a director at Rodgers Reidy, a firm similarly dedicated to turnaround and recovery management. Before that, Lau was a senior manager in at Baker Tilly…
A co-operative which lays claim to producing Australia’s largest pool of certified organic has gone into voluntary administration. Organic Dairy Farmers of Australia Limited (ODFA) produces the True Organic brand of milk, butter and cream. It also supplies milk to FiveAM yoghurt, Pure Organic milk and Lemnos cheese. Worrells Solvency and Forensic Accountants were appointed…