Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
It’s business as usual for Australia’s Village Roadshow Group, following the announcement overnight that the US-based Village Roadshow Entertainment Group
A series of rapid developments over the weekend has seen what management of struggling Australian casino firm Star Entertainment Group Ltd called in a Monday filing an “unsolicited” cash bid from United States-based casino firm Bally’s Corp.
The news came soon after Star Entertainment confirmed on Friday, a deal flagged earlier that day for it to dispose to Hong Kong-based real estate partners, Star Entertainment’s 50-percent equity interest in a complex (pictured) where The Star Brisbane casino resort is based.
A separate Friday filing from Star Entertainment announced a commitment for a senior secured AUD250-million (US$157.8-million) bridge loan facility with funds managed by King Street Capital Management, and a…
Shape Construction, a Christchurch-modular home building company, has gone into liquidation, leaving behind an estimated $1 million debt to creditors.
The company, which ceased trading in April, was placed into liquidation on 2 May, with Brenton Hunt of Insolvency Matters Limited appointed as liquidator.
According to the liquidator’s first report, the company, established in 2012, succumbed to mounting financial pressures exacerbated by the Covid-19 pandemic.
Director Toby Van T Veen highlighted that rapid price escalations made several projects financially unviable, while ongoing project issues drained working capital.
Source: Instagram
A legal dispute with a customer over an unfinished building project further compounded the…
More than 134,000 Los Angeles County residents will begin receiving notices next week as a part of the first wave of medical debt relief, marking a significant step in addressing the financial strain caused by medical costs. The notices, sent by LA County and national nonprofit Undue Medical Debt, inform the resident that their medical debt has been permanently retired and offer helpful information for individuals who need help with additional medical bills or are seeking financial assistance.
The amount of debt being relieved through this first round of notices is $183,580,711.
Launched in December 2024, the Los Angeles County Medical Debt Relief Program provides immediate…
The path toward credit card debt relief may involve acknowledging some unfortunate realities in today’s economic climate.
Milan Jovic 2/Getty Images
News last week that credit card balances are falling was welcomed by American borrowers, but it may have masked what still appears to be a credible issue: millions of Americans are still struggling to pay off all that they’ve accumulated. Credit card balances in the first quarter of 2025 were at a combined $1.18 trillion, and while that’s a decline from the final quarter of…
Keith Barney is an associate professor at the Australia National University. Roland Rajah is lead economist at the Lowy Institute.
Laos is suffering an acute debt crisis with no apparent way out. This is a shocking reversal of the optimism of the pre-COVID-19 era, when economic growth averaged over 7% annually. While the benefits excluded much of the rural poor, this was still among the best growth records in the developing world. What went so wrong, so quickly?
National Company Law Appellate Tribunal (NCLAT) on Monday upheld NCLT’s order admitting Future Ideas Company Limited (FICL), part of the Future Group, into insolvency over dues of ₹122.83 crore.
National Company Law Tribunal (NCLT), Mumbai, admitted FICL into insolvency last month in an insolvency petition filed by Axis Trustee Services, representing Franklin Templeton Asset Management (India) Pvt Ltd as its debenture trustee.
A debenture trustee is a body representing the interests of debenture holders while holding debentures for them.
The debt arose from non-convertible debentures issued by FICL in 2018, according to terms agreed under Debenture Trust-cum-Mortgage Deed (DTMD).
If you owe back taxes to the IRS, it’s important to understand what options you have that could help.
Getty Images
Each year, millions of taxpayers find themselves unable to pay what they owe to the Internal Revenue Service (IRS). But when you owe back taxes to the IRS, the initial balance isn’t the only issue. The interest and penalties will also compound over time, so even a modest tax debt can quickly turn into an overwhelming financial burden. And, if you have unpaid taxes right now, at a time when borrowing rates are…
It’s business as usual for Australia’s Village Roadshow Group, following the announcement overnight that the US-based Village Roadshow Entertainment Group has filed for bankruptcy protection.
As previously reported, Village Roadshow Entertainment Group (VREG) has filed for Chapter 11 in Delaware, with US$223.8 million in asset-backed secured notes and US$163.1 million of senior secured debt, court documents show.
VREG is separate from the Australian operation, which was formed in 1954 and includes Village Roadshow Theme Parks, Roadshow Distributors, Roadshow Productions, Village Roadshow Studios and Village Cinemas, asserts a statement from the company, seen by Variety AU/NZ.
“Village Roadshow Group is not impacted by VREG’s…
