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Any form of addiction can take on a life of its own and consume a person’s entire being. Dan Bateman, 34, who lives with his mother in Carlisle and works part time at a supermarket, is painfully aware of this.

Dan, a Carlisle United and Manchester United fan, started gambling as a teenager while watching football games with family and friends.

He told i: “From 2003, I’d go to Carlisle United football games and give people £1 to put bets on for me. Eventually, I won my first bet. I won about £18.50. It wasn’t a big sum, but it was an exciting feeling.”

Over time, Dan started betting weekly on football games and he slowly started to realise that he had a problem with gambling.

He said: “By my mid-twenties, I knew I had a…

The holding company of a superannuation fund created seven years ago to service ‘gig economy’ and self-employed workers has entered voluntary liquidation.

The GigSuper Group collapsed just over two years ago, reportedly owing creditors $2.7 million.

Both the holding company, GigSuper Holdings Pty Ltd, and the subsidiary company, GigSuper Pty Ltd, entered voluntary administration in 2022.

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It was the subsidiary company, GigSuper, which had owed creditors the millions of dollars. But those debts were “extinguished” when creditors put the company in a Deed of Company Arrangement in 2022.

Following a meeting on June 24 of the company’s members, the holding company has now entered…

Policy Challenges and Bringing Down Public Debt

Opening Remarks by Deputy Managing Director Kenji Okamura
at the Fiscal Policy and Sovereign Debt Conference

June 7, 2024

Good morning and welcome to our conference on “Fiscal Policy and Sovereign Debt.”

I would like to begin by thanking our co-hosts: the Center for Advanced Research in Finance at the University of Tokyo and Waseda University.

This conference is part of the IMF’s Sovereign Debt Network project, which brings together leading scholars and senior policymakers to discuss and share their recent work on fiscal policy and public debt.

Our discussion is timely. Even…

• Individuals all made false applications, examples of which include overstating the income of their businesses, or in one case, not trading when they received the funds 
• Bankruptcy Restrictions Orders (BROs) and Bankruptcy Restrictions Undertakings (BRUs) have been secured by the Insolvency Service 
• These latest measures form part of the Insolvency Service’s ongoing work to target Covid loan abuse 

Six individuals who abused the Bounce Back Loan Scheme have recently had tough bankruptcy restrictions imposed on them as part of the Insolvency Service’s efforts to tackle Covid loan misconduct. 

The Bankruptcy Restrictions Orders (BROs) and Undertakings (BRUs) secured by the Insolvency Service place significant…

Administrators appointed to oversee the operation of troubled historic brewery Billson’s, say they are ‘optimistic’ for the company’s future.

On Wednesday Billson’s Brewery announced the business had been put into voluntary administration citing “mistakes” relating to systems and processes “keeping up” with the business in the decision.

One of the appointed administrators for…

From casinos to video gaming machines to sports betting apps on cell phones, access to gambling has expanded significantly in recent years.

While that has led to increased tax revenue across Illinois, it’s also accompanied by a growing problem: gambling addiction.

Bill Johnson of Bartonville is approaching 50 years in continuous recovery from various addictions.

“When I got sober, back in – we didn’t even talk about gambling addiction back in the mid ’70s, late ’70s. It wasn’t an issue,” said Johnson. “Would I have qualified? I’m not sure. I’m not sure.

“I know the addictions I have are enough for me; I would not like to have more diagnoses, I don’t think. But yeah, I gambled.”

Johnson…

The weak yen and higher costs as well as the end of the financial assistance during COVID-19 pandemic are blamed for the high number of corporate bankruptcies in Japan, which rose by 42.9 percent year on year to 1,009 in May.

The number surpassed 1,000 for the first time for a month in more than a decade since July 2013, Tokyo Shoko Research Ltd., a private credit research firm, announced on June 10. 

Bankruptcies increased year on year across all industries specifically due to high prices following the COVID-19 pandemic.

The number of bankruptcies increased in May for the 26th consecutive month, and the total debt of companies that went bankrupt in May totaled 136.7 billion yen ($870…

The ATO is “hell bent” on chasing down $34 billion worth of debts owed by small businesses using director penalty notices (DPNs) and legal action, insolvency professionals say.

Insolvency Australia (IA) members said that recent activity showed the ATO was not only coming good on its promise to end its pandemic-era leniency but that it was taking a “far more aggressive” approach.

“The ATO is hell bent on collecting what it’s owed and is really doubling down on compliance,” director Gareth Gammon said.     

The ATO had singled out collectable debt, small business tax performance and superannuation guarantee as its key focus areas in FY24.

Remissions on interest charges and penalties would become the exception…

This initiative aims to motivate legal professionals to offer their knowledge and legal skills to marginalised communities, with the goal of improving the accessibility of legal services within these regional areas.

The need to implement such a program is evident by the ongoing decrease in the number of legal practitioners in the city of Lismore following the floods they experienced in 2022.

According to the Law Society of NSW, in the last two years following the flood event, the overall number…