Insolvency Guardian Media Centre

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.
Struggling with credit card debt can feel overwhelming. High interest rates and compounding balances make it difficult to pay down
Katie Price admits she 'loves' new home which she bought amid bankruptcy  The Mirror Read the original article here
The normalisation of gambling means it is often overlooked as an underlying source of harm, but gambling-related suicides could be
Tisha Thompson, ESPNMay 8, 2024, 03:21 PM ETCloseTisha Thompson is an investigative reporter for ESPN based in Washington, D.C. Her
There is perhaps no bigger star playing Major League Baseball today than Shohei Ohtani. Over the course of his career
Former England striker Emile Heskey 'bankrupt after hefty tax bill and legal costs'  Daily Star Read the original article here
German companies are expected to go bust at a higher rate this year following a sharp increase in insolvencies in
Photo Credit: slgckgc / CC by 2.0MGM denies rumors that Bruno Mars is sinking in gambling debt with the casino,
Edtech firm Think and Learn, which operates under the Byju's brand, has not paid July salaries to its employees due
More companies went bust in past year than during financial crisisMore companies in England and Wales went bust in the
Company insolvencies up 16% on July last year as cost hikes continue to bite  MSN Read the original article here
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Struggling with credit card debt can feel overwhelming. High interest rates and compounding balances make it difficult to pay down the principal and get out from under the debt.

If you’re dealing with credit card debt, there are options to lift this financial burden. There are several credit card debt relief options to help you get back on the road to financial freedom.

Key credit card debt statistics

  • Americans hold approximately $1.12 trillion in credit card debt as of Q4 2024.
  • The average credit card balance in the U.S. was $6,501 as of the third quarter of 2023, a 10 percent year-over-year increase.
  • The national average credit utilization ratio stands…

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Katie Price admits she ‘loves’ new home which she bought amid bankruptcy  The Mirror

Read the original article here

The normalisation of gambling means it is often overlooked as an underlying source of harm, but gambling-related suicides could be prevented with the right strategies and support.

Gambling is widely promoted and readily available in Australia, to the extent that it has been normalised. Most of us have seen betting odds being promoted during sports matches, with even the Prime Minister labelling these advertisements “annoying”. The sights and sounds of the poker machines flashing behind the bistro at the local pub or club are familiar to many of us. For those of us who don’t regularly venture into these spaces, or who haven’t been directly affected, the severe harms that can arise from these products may not be immediately…

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Ryan Boyajian, a current cast member of Bravo’s reality TV series “The Real Housewives of Orange County,” is the bookmaker’s associate to whom Ippei Mizuhara wired money to pay his gambling debts, multiple sources with knowledge of the investigation told ESPN.

Mizuhara is accused of stealing $16 million from Los Angeles Dodgers superstar Shohei Ohtani to feed what Mizuhara described to ESPN as a gambling addiction. His arraignment has been rescheduled to May 14.

As first reported by ESPN, and later detailed in the criminal complaint against…

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There is perhaps no bigger star playing Major League Baseball today than Shohei Ohtani. Over the course of his career in both his native Japan and in the United States, Ohtani has frequently been compared to — and sometimes described as even surpassing — baseball greats like Babe Ruth and other mythological figures of the game. As both a pitcher and hitter he has proven himself to be the sort of generational talent who becomes synonymous with baseball as a contemporary sport and with the broader legacy of baseball as both a national and international institution. 

Last week, the Los Angeles Times reported that Ohtani had been named in connection to a sprawling federal investigation into alleged gambling bookkeeper Matthew Bowyer…

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Former England striker Emile Heskey ‘bankrupt after hefty tax bill and legal costs’  Daily Star

Read the original article here

German companies are expected to go bust at a higher rate this year following a sharp increase in insolvencies in 2023, as businesses hit by high energy costs and the end of pandemic aid throw in the towel.

Restructuring experts warn that many “zombie” companies kept afloat after the coronavirus pandemic by generous government aid and a suspension of the obligation to file for bankruptcy — which caused insolvencies to drop to unusually low levels — are now collapsing.

Since the start of this year, several well-known German companies — including the department store chain Galeria Karstadt Kaufhof and Hamburg-based bag maker Bree, whose customers include Chancellor Olaf Scholz — have filed for insolvency.

The ranks of struggling…

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MGM denies rumors that Bruno Mars is sinking in gambling debt with the casino, following claims to the contrary that started circulating last week.

Reports surfaced last week that Bruno Mars had allegedly made $90 million a year with his residencies at MGM Resorts, but that a large portion of that was going toward paying off his exorbitant gambling debt. Now MGM has come to Mars’ defense, denying that the performer has any debt with them.

“We’re proud of our relationship with Bruno Mars, one of the world’s most thrilling and dynamic performers,” a spokesperson for MGM Resorts told Variety. “MGM and Bruno’s partnership is longstanding and rooted in mutual respect. Any speculation otherwise is…

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Edtech firm Think and Learn, which operates under the Byju’s brand, has not paid July salaries to its employees due to complications arising from a Supreme Court stay on the NCLAT’s decision, a senior official revealed on Tuesday, according to a PTI report.

On August 2, the National Company Law Appellate Tribunal (NCLAT) approved a Rs 158.9 crore settlement with the BCCI and dismissed insolvency proceedings against Byju’s. However, on August 14, the Supreme Court issued a stay on the NCLAT’s ruling, following a petition by the US-based creditor Glas Trust Company LLC. This stay has temporarily prevented the company from accessing its accounts.

In an email to employees, Byju Raveendran, founder and CEO of…

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More companies went bust in past year than during financial crisis

More companies in England and Wales went bust in the last year than at the height of the financial crisis, the latest insolvency figures show.

There were 25,551 insolvencies in the 12 months from August 2023 to July 2024, new data from the Insolvency Service released this morning shows.

That’s more than in the year from August 2008 to July 2009, when 25,186 insolvencies were recorded (see data here). That period covered the collapse of Lehman Brothers in September 2008, which was followed by the ‘Great Recession’ of 2009.

Rebecca Dacre, partner at Forvis Mazars, the international audit, tax and advisory firm, says:

“The latest insolvency figures are a strong…

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Company insolvencies up 16% on July last year as cost hikes continue to bite  MSN

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