Eleven years ago, Robert Kreshl was living on the streets of Hobart, sick with pneumonia and pleurisy, $17,000 in debtand addicted to poker machines. Key points: Tasmania’s introduction of mandatory pre-commitment is a national first but critics warn the reform is not tough enough Gamblers who are part ofplayer loyalty programs must nominate an amount…
Chennai: The National Company Law Tribunal (NCLT), Chennai bench has rejected the debt resolution proposal of Siva Industries, which was cleared by the Committee of Creditors (CoC) led by IDBI Bank. The NCLT has also ordered liquidation of Siva Industries.Siva Industries went under CIRP with admitted claims of Rs 4,863.87 crore from financial creditors, Rs…
Peter Chan hails a cab after the hearing. SING TAO Sophie Hui Former fung shui master Peter Chan Chun-chuen has been declared bankrupt after failing to pay HK$28.4 million in legal fees to Nina Wang Kung Yu-sum’s charitable foundation. Chan, 61, had been sentenced to 12 years for forging a will in a bid to…
Sarah Tew/CNET Credit card debtremains a slow-motion disaster for millions of Americans. Despite asudden dip in balances last year— which can be attributed to fewer spending opportunities during the pandemic — credit card debt is anotoriously widespread issue in the US. And, given the industry’s sky-high interest rates, once you fall behind … Read the…
Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Find Out If You Qualify For Debt Relief Free, No-commitment Estimate There are many different ways to borrow money, from a simple IOU sealed with a handshake to a…
A parliamentary standing committee has called for an overhaul of the Insolvency and Bankruptcy Code (IBC), 2016. The major concern has been over large haircuts and a high rate of liquidation. While the suggestion to overhaul the law is welcome, it is important to understand the root cause of the problem and address the same.…
The latest Coface Romania study shows that in the first six months of 2021, 3,033 new insolvency proceedings were opened, 23 percent above the level recorded in the same period of the previous year. Insolvencies opened in the first half of this year have returned close to the level before the Covid-19 pandemic and are…
A parliamentary inquiry on Thursday examined how people are using credit cards to fund online gambling, as online bookmakers banned credit cards. Australia’s largest online wagering operators including Sportsbet, Ladbrokes and Bet365 have pledged to support new measures that ban punters from using credit cards in online betting. Previously, members of Responsible Wagering Australia had…
Andrew Penn (Telstra) Credit: Telstra Telstra has boosted its profit to$1.9 billion in 2021 as it announces an on-market share buy-back of up to $1.35 billion. For the year ended June 30 2021, the telecommunications giant saw its net profit increase by 3.4 per cent as it plans to return 50 per cent of the…
The National Company Law Tribunal (NCLT), Chennai, has said the entire corporate insolvency resolution process for Vasan Health Care Private Limited cannot be started afresh from the stage of issuance of expression of interest because it will upset the timelines prescribed under the Insolvency and Bankruptcy Code, 2016. The NCLTs observation came on a petition…