TL;DR — Singapore’s High Court ruled a Hong Kong judgment for HK$19.3 million in Macau gambling debts unenforceable, citing the Civil Law Act’s public policy. The case involved a VIP credit line of HK$15 million at The Venetian Macau. This protects local citizens from foreign casino collection actions. SCCG Take — The decision elevates local…
Debt problems in the Netherlands are rising, while only a small group of people with debts actually seek out help. What can municipalities do to make it easier to ask for help? Municipalities in the Netherlands currently place the responsibility for seeking help when in serious debt largely on citizens themselves. But those who need…
Singapore High Court Blocks Venetian Macau From Enforcing HK$19.35 Million Casino Judgment iGamingToday.com Read the original article here
The High Court of the Republic of Singapore has ruled that a foreign casino cannot collect gambling debts through its justice system. The interior of The Venetian Macau is pictured in a file photograph from June 2023. The casino resort unsuccessfully pursued the collection of a $2.4 million gambling debt incurred by a citizen of…
A Singapore High Court ruling has stopped Venetian Macau Ltd from enforcing a HK$19.35 million (US$2.5 million) gambling debt against a VIP customer whose assets are held in Singapore. The September 4 decision involved Hu Yangning, a businesswoman who had been a VIP customer at Marina Bay Sands in Singapore. According to evidence considered by…
In January 2022 the National Credit Regulator put out a statement about adverts running on Facebook, Instagram and Twitter. They promised debt “written off” and “government approved” relief, and some carried images of senior public officials. The regulator’s verdict on the lot of it was “all lies”, says Rowan Breeds, Debt Counsellor, Debt Solutions 4U.…
Singapore court rejects Venetian Macau debt claim Focus Gaming News Read the original article here
Singapore High Court ruling curbs recovery of foreign gambling debts sigma.world Read the original article here
Shoppers browse a market in Seodaemun-gu, Seoul, on Nov. 6. Photo by Kim Jung-hoon The Korea Asset Management Corporation, the state-run agency handling debt relief for small business owners, is projected to see its debt-to-equity ratio reach 350% this year. The figure exceeds its earlier target by more than 110 percentage points as the Lee…
Singapore High Court Blocks Enforcement Of Foreign Casino Debt iGamingToday.com Read the original article here