A gambling suicide EVERY day: Shocking report finds 2m families blighted by problem gambling and 50,000 CHILDREN are addicted The House of Lords review found betting blights the lives of two million Britons The panel behind the report urged the Government to curb giant betting firms It called for mandatory checks to ensure gamblers can…
FIVE years ago, Mackay mining services business Sharps Heavy Equipment Repairs was in dire financial strife. It was during the mining downturn, when many mining businesses either went into voluntary administration or shut their doors for good. But five years on, Sharps has emerged from voluntary administration better than ever. Customers have increased their spend…
MEXICO CITY (Reuters) – Mexican airline Aeromexico will offer fewer flights and have fewer planes in the short term as it begins a Chapter 11 restructuring process, Chief Executive Andres Conesa said on Wednesday, after shares plummeted to record lows. Passengers, wearing protective masks following an outbreak of the coronavirus disease (COVID-19), wait for flights…
In 1978, when the United States was faced with an earlier economic crisis, the U.S. Congress enacted a bankruptcy law that aimed to encourage creditors to recapture their debts over time and avoid the significant, abrupt job losses concomitant with liquidation. Among the more unique provisions of that law were: a self-effectuating injunction during which…
Wednesday, July 1, 2020 On 25 June 2020 the Corporate Insolvency and Governance Act received Royal Assent, making some of the biggest changes to UK insolvency laws in the last 30 years. We have written several blogs covering the changes and how they help support distressed businesses, impact suppliers, lenders and other third parties and…
Japan Display Inc. said Tuesday it posted a group net loss of 101.42 billion ($938 million) in fiscal 2019, a red ink figure for the sixth straight year, due to hefty restructuring costs and weak demand for products. In a delayed earnings report due to the new coronavirus outbreak, the struggling panel-maker logged a consolidated…
Stranded commuters wait for transportation at a bus terminal during a protest by taxi operators over the government’s financial relief for the taxi industry, amid the coronavirus disease (COVID-19) lockdown, in Soweto, South Africa, June 22, 2020. REUTERS/Siphiwe Sibeko The international community quickly agreed this spring that the COVID-19 pandemic and its economic damage necessitated…
BUSBY Contractings liquidation is set to be wound up by the end of this year as their debts have blown out to almost $5 million. The company, which went into voluntary liquidation in February 2018, claims the liquidation was a result of underquoting liquidation of associated major debtors and flooding of their project sites. It…
By Dan Whitworth Money Box reporter 5 June 2020 Image copyright Getty Images “It’s like a last-ditch attempt to get the last bit of money out of a gambler. I was just disgusted.” Dave, not his real name, has fought gambling addiction nearly his entire life and now has 50,000 of gambling debt spread over…
LEAWOOD, Kan.–(BUSINESS WIRE)–Jul 1, 2020– NPC International, Inc. (NPC or the Company) today announced that it has entered into a restructuring support agreement (RSA) with lenders holding approximately 100% of the Companys first lien priority debt and 70% of its first lien debt (collectively, the Senior Secured Lender Group) to substantially reduce NPCs long-term debt…