During the pandemic, many jurisdictions amended their insolvency laws to lessen the impact of the pandemic. In some cases, these amendments operated on a temporary basis until the impact of the pandemic abated. In other cases, more permanent reforms were introduced to improve insolvency legislation generally. In Australia, as noted in the recent report of…
This article is based on an interview with a 35-year-old man who is in recovery for gambling addiction. We have removed or changed some details to protect his identity. Parts of the story have been edited for clarity and brevity. If I had to put a number on how much I’ve lost gambling, I’d say…
The Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) has called for urgent passage of the Insolvency Bill, which aims to bring much-needed updates on insolvency practice in the country. The president of BRIPAN, Chimezie Ihekweazu, said this at the association’s event held in Abuja on Thursday. Insolvency law is the set of rules…
‘Gamble, gamble, gamble, that’s all I cared about’ BBC Read the original article here
Aug. 13—On Oct. 13, 2017, Ron Meyer, the former Hollywood mogul who headed Universal Studios for 18 years, gambled at Mohegan Sun. “He did not win.” So says a revised complaint the Mohegan Tribal Gaming Authority filed in late June in New London Superior Court, alleging Meyer owes the casino $2,782,500. That’s after the casino…
Deutsche Bank to Lead $4.3 Billion Debt Deal for Casino-Equipment M&A Bloomberg Read the original article here
Recaro Automotive declared bankruptcy in Germany, as reported. The announcement was made four years after private investment firm Raven Acquisitions purchased Recaro Automotive from American seating manufacturer Adient. It should be noted that Recaro Automotive Seating, the firm that manufactures car seats, is the only one with this name that is insolvent. Recaro Holding, which…
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The Thai Cabinet approved a package of debt relief measures, including interest suspensions and reduced principal payments. The initiative aims to alleviate the financial burden on individuals and businesses struggling with economic challenges. By suspending interest and reducing principal payments, the government seeks to provide immediate relief and prevent defaults. These measures are expected to…
The case was subsequently overturned by the Court of Appeal. Last week, the Supreme Court refused leave to appeal the Court of Appeal’s decision. The result is that a liquidator can now exercise the statutory power to require information and documents from shareholders, creditors and others situated overseas, in some cases. The question in each…