The Star Entertainment Group has doubled down on its bid to sue an Asian billionaire who racked up a $43 million gambling debt at its Gold Coast casino. VIP high roller Dr Wong Yew Choy allegedly dishonoured a blank cheque after a five-day losing streak playing baccarat at The Star Gold Coast. After losing an…
The effects of Hurricane Maria in Dominica in 2017 caused millions of dollars worth of damage to the countrys economy.Credit: Alejandro Cegarra/Bloomberg via Getty Most governments astronomical borrowing during the current pandemic pays scant attention to the effects that climate change could have on their ability to repay the debt. Here we present an analysis…
As rumors of Onkyo s bankruptcy along with Pioneer, keep swirling around the industry and despite local distributor Ambertech struggling to get stock, Company executives are still telling observers that they have a future. Now as their fiscal year draws to a close on March 31st, the historic Japanese audio firm appears to be breathing…
GOLD COAST, Australia The Star Entertainment Group has doubled down on its bid to sue an Asian billionaire who racked up an AUD 43 million ($32.8 million) gambling debt at its casino in Gold Coast in the south of Brisbane on Australias east coast. VIP high roller Wong Yew Choy allegedly dishonored a blank check…
By Tom Arnold 3 Min Read LONDON (Reuters) – The Bretton Woods Committee has formed a working group of senior bankers, academics and lawyers to propose ways to resolve a rise in sovereign debt distress in emerging markets as a result of the COVID-19 pandemic. The influential U.S.-based non-profit organisation said it will examine how…
South African President Cyril Ramaphosa receiving a consignment of critical personal protective equipment (PPE) and other medical supplies. (Flickr/GovernmentZA/Government Communication and Information System) As recovery from the economic fallout of the pandemic occurs, richer countries appear to be progressing faster than poorer onesmany of them in Africa, where 60 percent of the worlds poor live.…
NEW DELHI: The pre-pack framework for stressed assets under the insolvency law is a “liquidation-remote resolution mechanism” and will also help in avoiding protracted legal battles as there will already be a broad understanding among stakeholders concerned, according to IBBI chief M S Sahoo.To help stressed MSMEs (Micro, Small and Medium Enterprises), the government has…
Reorganization is now increasingly favored over liquidation, according to an analysis of COVID-era corporate bankruptcy filings by S&P Global Market Intelligence. Almost 62% of corporate bankruptcy filings last year sought to reorganize or restructure, the highest watermark since 2010, according to S&P dataand 2021 filings are set to outpace last years numbers. Conversely, in 2018…
The acquisition of Finance Active was a strategic move by Altus after the amount of debt around the world hit an all-time high in 2020. 6 Apr 2021, 11:21 | Karl Tomusk Altus Group has acquired debt management software provider Finance Active SAS for 106.5m The integration of Altus and Paris-based Finance Active will enable…
Struggling businesses have been handed additional assistance after the Government extended changes to insolvency laws that were brought in during the pandemic. In response to the coronavirus pandemic and the resulting lockdown measures, the Government introduced the Corporate Insolvency and Governance (CIG) Act to bring in new tools to give struggling firms “the time they…