Insolvency Guardian Media Centre
The Kuwaiti businessman behind a troubled £2.5bn Kent theme park meant to rival Disneyland has been declared bankrupt.
Abdulla Al-Humaidi, who was a key backer of the proposed London Resort development scheme, was confirmed to be insolvent at a High Court hearing last month.
It is the latest twist relating to the “Dartford Disneyland” scheme, which Mr Al-Humaidi previously ran as a director of London Resort Company Holdings.
London Resort, situated near the Thames in Ebbsfleet, was formed 12 years ago to rival the world’s biggest theme parks. However, it has been plagued by setbacks, including the discovery of a rare spider that hampered development efforts.
Read the original article here
Dymocks will also ramp up its social and digital marketing, Newman said, adding that Booktopia’s announcement had already driven more traffic to its website. “It’s just about making sure we are still visible, present, and we’re there to serve any of those customers who choose to shop with us.”
The average retail price of a book is just over $18, which hasn’t changed in about two decades.
“It is a tough environment … It’s always sad when any business in your industry doesn’t work out. We’re obviously sorry to see what’s happened there,” Newman said.
E-commerce giant Amazon, which began as an online bookseller, but has less market share than Booktopia in Australia in terms of book sales, has been contacted for…
Read the original article here
Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate personal loans to write unbiased product reviews.
- If you’re struggling to pay multiple debts every month, debt consolidation may be right for you.
- You can use personal loans, balance transfer credit cards, or home equity to consolidate your debt.
- Addressing how you got into debt in the first place and establishing new habits is key.
When you’re in debt, it can feel impossible…
Read the original article here
The Australian Digital 12 Month Plan costs $416 (min. cost) for the first 12 months, charged as $32 every 4 weeks. This automatically renews after the first 12 months to be charged as $32 (min. cost) every 4 weeks. Renewals occur unless cancelled as per full Terms and Conditions. No cancellations during the first 12 months. Each payment, once made, is non-refundable, subject to law. Not in conjunction with any other offer. Prices after the first 12 months may be varied as per full Terms and Conditions. See www.theaustralian.com.au/subscriptionterms for full details.
Read the original article here
Many policymakers have used safeguarding tools to protect funds against loss of value and illiquidity risk, but the rules may not provide sufficient safety in practice. For example, many common law countries require mobile money firms to store funds in a trust. A trust structure aims to ensure funds provided by customers are unreachable by the firm’s creditors during insolvency proceedings. However, upon closer inspection, policymakers may find that such mechanisms are not consistent with the applicable corporate insolvency law. Given the limitations that authorities may have for enforcing these rules, funds provided by customers are sometimes commingled with other assets. These issues are also compounded by the fact that few…
Read the original article here
UPDATE: MGM Resorts International has sent over the following statement to BuzzFeed: “We’re proud of our relationship with Bruno Mars, one of the world’s most thrilling and dynamic performers. From his shows at Dolby Live at Park MGM to the new Pinky Ring lounge at Bellagio, Bruno’s brand of entertainment attracts visitors from around the globe. MGM and Bruno’s partnership is longstanding and rooted in mutual respect. Any speculation otherwise is completely false; he has no debt with MGM. Together, we are excited to continue creating unforgettable experiences for our guests.”
Mar. 18, 2024, at 19:49 PM
When it comes to pop stars, you don’t get much bigger than Bruno Mars. I mean, he played the friggin’ Super Bowl, for Christ’s sake.
Read the original article here
Ireland v England examinerships and administrations Dentons
Read the original article here
NT company director’s death complicates liquidation NT News
Read the original article here
Student debt relief measures are anticipated in Australia’s 14 May federal budget, after prime minister Anthony Albanese acknowledged shortcomings in the Higher Education Loan Programme (Help).
Speaking on the Hit radio network, Mr Albanese said the government was examining the Australian Universities Accord’s recommendations to reform the student loan scheme – informally known as Hecs – and would be “making announcements pretty soon”.
Asked whether high debt repayments were discouraging university participation, Mr Albanese said the accord panel had produced ideas to make the system simpler and fairer.
“There’s a range of areas where we need to do much better with the younger generation basically, and Hecs is one of…
Read the original article here
Kenyan vehicle manufacturer Mobius shutting down, issues notice of insolvency MSN
Read the original article here
Rex Airlines customers have been offered guaranteed regional flight bookings by the Albanese government on Thursday after the embattled company announced last month it had entered voluntary administration.
In a statement, Infrastructure Minister Catherine King said travellers could continue to book flights with Rex as the process to determine the airline’s future was being considered.
“Travellers can continue to book regional flights on Rex during this process with certainty that they will either fly or get their money back,” the statement said.
Ms King said it was in the best interest of Australia for the government to “work closely” with administrators to ensure a strong aviation presence in regional areas of the country.
The guarantee…
Read the original article here
Denise Truscello / Contributor via Getty Images
On Saturday (March 16), Consequence reported about Bruno Mars’ alleged $50 million gambling debt with MGM Casinos.
They stated, “Part of the reason Mars’ residency has lasted for so long is because he’s accrued a sizable gambling debt at the casino. ‘He owes millions to MGM [from gambling],’ an unnamed source told News Nation. ‘[MGM] basically owns him.’”
The source claims that Mars owes over $50 million to the casino giant. Mars’ love for gambling has been heavily documented. In an interview with GQ, he said, “I used to be like a…