The Federal Trade Commission (FTC) helped end a $10 million student loan debt relief scheme that allegedly collected illegal…
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FC Barcelona have been declared ‘technically bankrupt’.
FC Barcelona have been declared ‘technically bankrupt’ by a leading Catalan journalist.
The Blaugrana are mired in debts repeatedly reported as exceeding €1 billion ($1.075 billion), and had to pull various ‘economic levers’ last summer revolving around the sale of future television rights revenue and stakes of their Barca Studios media production company so that they could make new signings.
Players that Barca brought in ahead of 2022/2023, such as Robert Lewandowski, helped the Blaugrana lift their first La Liga title in four years and a maiden Spanish top flight crown under head coach Xavi Hernandez.
A year later, however, Barca are again struggling…
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A New Jersey family is suing DraftKings after a father of two gambled away more than $1 million of his family’s money across four years.
The man, known by his username Mdallo1990, allegedly lost $942,232.32 between Jan. 1, 2020, and Jan. 13, 2024, due to his gambling habits, according to a lawsuit filed on Thursday, Dec. 6, in New Jersey Superior Court.
The lawsuit, obtained by PEOPLE, claims the money belonged to the gambler’s wife, Lisa D’Alessandro – who he is separated from – and their two children.
DraftKings is accused of negligence, fraud and violating the New Jersey Consumer Fraud Act. D’Alessandro wants the company to return all of the money she claims Mdallo1990 “stole” from her and the kids, according to the…
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One of Russia’s largest microchip manufacturers, Angstrem (Zelenograd), has been declared bankrupt.
Source: The Moscow Times
Details: The company has been put under observation, and the decision to declare the debtor bankrupt was made at the request of Zenit Bank on 2 December 2024. As the case file shows, the court ordered in November 2019 that RUB 1 billion (about US$9.94 million) in compensation be paid out to Zenit by Angstrem, but the plant has not done so in more than six years.
The plant was a landmark for Russia and was supposed to become the largest player in the production of microchips. It was supervised by Leonid Reiman, a former communications minister close to Putin.
He received US$1…
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Dozens of customers of a Dublin-based windows and doors company that went into liquidation late last week have expressed anger and concern that money they paid as recently as two weeks ago will never be recovered.
One couple who contacted The Irish Times said they stood to lose close to €50,000 after provisional liquidators from Grant Thornton were appointed by the High Court to DK Windows & Doors, a company based in Dublin 12 that has been supplying windows and doors to both developers and consumers since 2005.
The company – which boasts on its website of having featured in RTÉ’s Room To Improve series – said in a petition to the High Court, that it had built up €1.5 million of customer deposits but had run out of cash.
It has…
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This article was updated on March 8, 2024
The exit from bankruptcy of Derek Quinlan, the boom-time property investor, has been delayed after a move by his trustee to suspend his discharge.
Quinlan, 76, who once owned trophy homes in New York, Mayfair in London and Saint-Jean-Cap-Ferrat on the French Riveria, was due an automatic discharge from bankruptcy in November.
This has been suspended for a full hearing of an application by the trustee in his case.
The former financier was declared bankrupt in November 2022. The reason why he has not emerged from bankruptcy is unclear.
A spokesman for Adrian Hyde of Begbies Traynor, the trustee, would say only that the case was “ongoing”. Quinlan declined to comment.
A court-appointed trustee is charged
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Pilot told to pay $50,000 debt or be made bankrupt Stuff
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The Iceland “microloans” range from £25 to £100, in the form of a prepayment card to be used in Iceland, and after the initial loan can only be taken out during school holidays. They are a way for those who cannot ordinarily get credit to afford essentials during periods of strain, and pay them back when times are calmer.
For the customers, of whom 18.7% said they had used credit to pay for food and other essentials in the past, there was a three-quarters reduction in the use of loan sharks.
More than nine million adults in the UK were refused credit in the 12 months from April 2022, while 23% of people said in early 2023 the cost of living crisis had driven them to borrow more. Around one million people in the UK borrow…
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By Martin Croucher · December 5, 2024, 12:36 PM GMT
Company bosses and their insurers could face increased claims next year from a predicted rise in corporate insolvencies and class actions, Allianz warned Thursday….
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Credit card debt continues to rise, with balances up by $24 billion in the third quarter of 2024, according to the Federal Reserve. Americans now owe a record $1.17 trillion as consumers turn to their credit cards to cope with the fallout from inflation surges in the post-pandemic era. Delinquency rates also remain high, even after improving slightly for cards in the third quarter.
For Americans drowning in debt, options like debt consolidation and other kinds of debt relief may seem like a good way to improve…
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by: Mark Goodman, Partner at Campbells Cayman Islands
In the ever-evolving landscape of global finance, the Cayman Islands has established itself as a premier jurisdiction for handling complex insolvency and restructuring cases, particularly for investment funds. With its robust legal framework, creditor-friendly system, and deep expertise in cross-border insolvency matters, the jurisdiction offers unparalleled advantages for investors and practitioners alike.
In this exclusive interview, Mark Goodman, Partner at Campbells, provides expert insights into the key features that make the Cayman Islands so attractive for insolvency and…
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Airports Company SA (ACSA) has been accused of publishing ‘fake’ financial reports after the company posted profits yet failed to mention its debt of hundreds of millions or rands dating back several years.
According to IOL, the accusations are included in a document filed with the high court of Johannesburg last week by a service provider who has applied for ACSA’s liquidation for failing to pay the provider for services rendered at O.R Tambo International Airport.
ACSA is also apparently facing another liquidation application this week.
The service providers say they are facing significant cash flow problems which may result in the airports being placed at risk after they detailed the…
