Insolvency Guardian Media Centre
REX ASX: Rex Airlines enters voluntary administration” WAtoday
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Paula Lavigne, ESPN Investigative Reporter
In their complaint filed Thursday, federal investigators said they had conducted forensic reviews of the phone of Shohei Ohtani‘s former interpreter, Ippei Mizuhara, as well as devices belonging to “Bookmaker 1,” assumed to be Southern California bookie Mathew Bowyer, and “Bookmaker 2,” an associate of Bowyer’s.
Prosecutors accused Mizuhara of bank fraud and said he stole more than $16 million over several…
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Bradley Wiggins could lose Olympic gold medals after being declared bankrupt The Mirror
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Last week the National Company Law Tribunal (NCLT) granted a 60-day extension to the grounded airline Go First to complete its insolvency process. It was the fourth time it was doing so. In this issue of DH Deciphers, Abhilash Reddy, unpacks why the matter is dragging and how it got here.
How long has the Go First insolvency process been going on?
NCLT admitted Go First’s insolvency plea last year on May 10. But more than a year later, the case is still nowhere near resolution. The airline was granted its first extension on November 23, when the 180-day timeline for completing the Corporate Insolvency Resolution Process (CIRP) expired. The second extension happened on February 13 this year when April 4 was set as the deadline. The third…
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Today, my Administration is canceling student debt for 160,000 more people, bringing the total number of Americans who have benefitted from our debt relief actions to 4.75 million. Each of those borrowers has received an average of over $35,000 in debt cancellation. These 160,000 additional borrowers are people enrolled in my Administration’s SAVE Plan; are public service workers like teachers, nurses, or law enforcement officials; or are borrowers who were approved for relief because of fixes we made to Income-Driven Repayment.
Today’s announcement comes on top of the significant progress we’ve made for students and borrowers over the past three years. That includes providing the largest increases to the maximum Pell Grant in over a decade;…
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It is common for deed administrators, as part of a restructuring involving a deed of company arrangement (DOCA), to seek the leave of the Court to transfer the shares held in the company to the proponent (or nominee) on the basis that the purported transfer would not unfairly prejudice the interests of the members of the company (see section 444GA(1)(b) of the Corporations Act 2001). This is a powerful tool, as once leave is granted and the relevant regulatory approval is obtained, the deed administrators can compel the transfer of shares held by third party shareholders in the company.
When Courts grant section 444GA(1)(b) leave, the orders are typically subject to the regulatory approval of the Australian Securities and Investments…
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East Imperial PLC (GB:EISB) has released an update.
East Imperial PLC, once a leading producer of super-premium beverages, has announced plans for a creditors’ voluntary liquidation, with a shareholders’ meeting scheduled for August 28, 2024, to appoint joint liquidators from Begbies Traynor (London) LLP. The meetings, where creditors will also decide on the liquidation committee and remuneration, will be held virtually. This decision follows the company’s acclaimed history, having sold over 33 million bottles worldwide and won multiple awards.
For further insights into GB:EISB stock, check out TipRanks’ Stock Analysis page.
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What to Know
- Ippei Mizuhara faces federal bank fraud charges in the the theft of millions of dollars from the account of Dodgers star Shohei Ohtani.
- In criminal complaint filed in support of the charges, Mizuhara is accused of placing about 19,000 wagers between December 2021 and January 2024.
- He is accused of stealing $16 million from Ohtani’s account to pay substantial sports wagering debts.
Shohei Ohtani’s ex-interpreter placed a staggering number of bets using money stolen from a long-time friend and one of the world’s most popular and well-paid athletes to support a “voracious appetite” for sports betting, according to federal prosecutors.
According to the criminal complaint filed in the gambling scandal, Ippei…
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A spokesperson for the Department for Levelling Up, Housing and Communities, which looks after local government, said: “Councils are responsible for the management of their own finances.
“The Local Government Finance Settlement for 2023/24 makes available up to £59.7bn for local government in England, an increase in Core Spending Power of up to £5.1bn or 9.4% in cash terms on 2022/23.
“Through the 2023/24 Local Government Finance Settlement, the most relatively deprived areas of England will receive 17% more per household in available resource than the least deprived areas.”
The government allocated an additional £600m for councils in January in recognition of the pressures they face. They say this means all authorities will see a…
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Rex enters voluntary administration, grounds 737s St George & Sutherland Shire Leader
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The student loan debt of nearly three million Aussies is set to rise today as part of the government’s annual indexation. HECS-HELP debt gets indexed every year on June 1 against the consumer price index (CPI) to make sure the loan is keeping pace with inflation.
Yahoo Finance has been inundated with messages from Aussies all across the country about how the debt has impacted them. Some have put off going to university altogether because they are worried about accumulating debt, while others have delayed buying a home or even starting a family due to the loan.
Sadly for them, their HECS pain is about to get worse.
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Gainax, known for producing the popular anime series “Neon Genesis Evangelion,” said Friday that it filed for bankruptcy at Tokyo District Court on May 29.
Founded in 1984, the Tokyo-based company produced hit anime titles, including the Evangelion series by film director Hideaki Anno and “Nadia: The Secret of Blue Water.”
Its business conditions began to deteriorate around 2012, due to careless management by executives, and the company lost its anime production capabilities following an exodus of its creative staff. In addition, its representative director was arrested in 2019 for alleged sexual abuse of a minor.
Gainax tried to rebuild itself with the support of Khara, which currently owns the…