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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.
Spelinspektionen, the Swedish Gambling Inspectorate, has updated incumbents in the countrys betting and gaming market concerning credit card usage.
The Inspectorate explained that gamblng companies with the exception of lotteries are prohibited from offering credit cards as a payment method in Sweden, but added that some licensees inform about and sometimes also link to companies that only offer credits as a payment alternative.
Under the terms of the Swedish regulatory framework, operators must ensure that social and health considerations are adhered to, with the aim of protecting the lives, finances and relatives of players including preventing credit card payments.
As a caveat of this duty of care, Swedish …
Read the full article at: https://www.sbcnews.co.uk/retail/2021/09/22/spelinspektionen-clear-link-between-borrowing-money-and-problem-gambling/
Mrs Jemima Oware, the Registrar-General, says the implementation of the new Companies and the Corporate Insolvency and Restructuring Acts (CIRA) will turn the fortunes of businesses in the country in a positive direction.
The Companies Act, 2019 (Act 992) and the CRIA 2020 (Act 1015) were passed into law on August 2, 2019 and April 30, 2020 respectively, to improve corporate governance standards for companies operating in Ghana and rescue distressed ones.
Speaking at the launch of a User Guide on the CIRA, 2020 (Act 1015) and the Public Education Programme in Accra on Monday, Mrs Oware said the passage of the Acts were major reform that would improve the operations of businesses in the country.
The Companies Act, 2019 (Act 992) was a ma…
Read the full article at: https://www.businessghana.com/site/news/business/246973/New-Companies-Act-CIRA-will-turn-fortunes-of-businesses-Registrar-General
Mrs Jemima Oware, the Registrar-General, says the implementation of the new Companies and the Corporate Insolvency and Restructuring Acts (CIRA) will turn the fortunes of businesses in the country in a positive direction.
The Companies Act, 2019 (Act 992) and the CRIA 2020 (Act 1015) were passed into law on August 2, 2019 and April 30, 2020 respectively, to improve corporate governance standards for companies operating in Ghana and rescue distressed ones.
Speaking at the launch of a User Guide on the CIRA, 2020 (Act 1015) and the Public Education Programme in Accra on Monday, Mrs Oware said the passage of the Acts were major reform that would improve the operations of b…
Read the full article at: https://www.ghanabusinessnews.com/2021/09/21/new-companies-act-cira-will-turn-fortunes-of-businesses-registrar-general/
More than 30,000 ACT health members left in limbo when their provider entered administration may have been given a reprieve after administrators found new operators courtesy of a court granting them more time. The nation’s peak medical body welcomed the news about the National Health Co-op (NHC), but it said the case should prompt the ACT government, who along with the federal government funded NHC, to help find more innovative ways to address underlying issues impacting the territory’s GPs and bulk billing situation. The not-for-profit and member-owned NHC, which opened its doors in 2010 and is now estimated to have 14 per cent of all bulk-billed GP appointments, entered voluntary administration in June. The organisation said the end …
Read the full article at: https://www.canberratimes.com.au/story/7440865/national-co-op-saved-as-new-operators-to-take-over/?cs=14264&utm_source=website&utm_medium=index&utm_campaign=sidebar
CASE LAW ALERT: UNFAIR PREFERENCE CLAIMS AND THE SET-OFF “DEFENCE” UNDER SECTION 553C (PART 1 of 2)
The Section
Section 553C of the Corporations Act 2001 (Cth) (the “Act”) provides for a statutory set-off between an insolvent company and a party seeking to have a debt or claim admitted in the winding up. Provided that the creditor did not have notice of the company’s insolvency at the relevant time, the section is enlivened where there have been ‘mutual credits, mutual debts or other mutual dealings’ between the parties and allows for an account and set-off of sums due between them in respect of those mutual dealings, with only the balance of that account being admissible to proof against the company or payable to the company as the …
Read the full article at: https://www.marketscreener.com/quote/stock/LITIGATION-CAPITAL-MGMT-49601878/news/Litigation-Capital-Mgmt-UNFAIR-PREFERENCE-CLAIMS-AND-THE-ldquo-SET-OFF-rdquo-DEFENCE-36483471/
The NRA declared bankruptcy; its longtime chief executive, Wayne LaPierre, has been disgraced, setting the gun-rights group back on its heels.
Yet the NRA is still a powerful enough force in Washington politics to derail President Bidens effort to install a Senate-confirmed leader of the ATF (Bureau of Alcohol, Tobacco, Firearms and Explosives), once again reminding gun control advocates of how steep the climb is to achieve reasonable regulation of firearms.
While its mired in myriad Washington scandals, the NRA still has a devoted following in communities across America that arent bothered by mainstream media coverage of LaPierre living the high life on the NRAs dime, or his botched shooting of an elephant in Botswana. They see that as…
Read the full article at: https://www.thedailybeast.com/the-nra-is-bankrupt-but-it-still-owns-americas-gun-agency
Debt consolidation can alleviate stress and save you money – if you get it right.
Sponsored by NOW Finance. Personal loans, personal service, and repayment plans to suit you. Settle a NOW Finance debt consolidation loan by 30 September, 2021 and you could win $2,000 off your debt. T&Cs apply. Learn more.Paying off multiple debts can be stressful. You can find yourself thinking about it all the time, counting the days until the next bill and wondering how long it’s going to be before you’re back in the black.
But there is an effective way to alleviate that stress and simplify your payment schedule bring all your debts under 1 umbrella. Otherwise known as debt consolidation.
While it’s not a cure-all, debt consolidation has some m…
Read the full article at: https://www.finder.com.au/how-debt-consolidation-can-help
Mrs Jemima Oware, the Registrar-General, says the implementation of the new Companies and the Corporate Insolvency and Restructuring Acts (CIRA) will turn the fortunes of businesses in the country in a positive direction.
The Companies Act, 2019 (Act 992) and the CRIA 2020 (Act 1015) were passed into law on August 2, 2019 and April 30, 2020 respectively, to improve corporate governance standards for companies operating in Ghana and rescue distressed ones.
Speaking at the launch of a User Guide on the CIRA, 2020 (Act 1015) and the Public Education Programme in Accra on Monday, Mrs Oware said the passage of the Acts were major reform that would improve the operations of businesses in the country.
The Companies Act, 2019 (Act 992) was a…
Read the full article at: https://newsghana.com.gh/new-companies-act-cira-will-turn-fortunes-of-businesses-registrar-general/
BUSINESS RESTRUCTURING REVIEWVOL. 20 NO. 5 SEPTEMBEROCTOBER 2021IN THIS ISSUE1 Secured Lenders Credit Bid Right in Bankruptcy Sale Denied4 Structured Dismissal of Chapter 11 Cases Did Not Violate Jevic8 Work-for-Hire Film Production Agreement Not Executory Contract in Bankruptcy Due to Lack of Mutual Continuing Material Obligations12 Stalking Horse Bidder May Be Entitled to Administrative Priority for Expenses Despite Failure to Close Bankruptcy Sale15 N.Y. District Court Rules that Chapter 15 Recognition Not Required to Enforce Foreign Bankruptcy Injunction19 Second Circuit Applies Taggart Standard to Orders Declaring Home Mortgage Loans Current21 U.S. Supreme Court Update: Petitions Seek Review of Notable Bankruptcy Law Rulings23 New…
Read the full article at: https://www.jdsupra.com/legalnews/business-restructuring-review-september-6349932/
Photo by Towfiqu barbhuiya on Unsplash
All debt relief options share a common goal: to help individuals and their families get out of debt. Although their purpose is the same, they can have varying effects on your short and long-term financial health. Comparing debt settlement vs. other relief options like debt consolidation loans, bankruptcy, and making minimum payments can help you choose the best method for your needs, including reducing your monthly payments.
Debt Settlement vs. Debt Consolidation Loans
Debt settlement allows you to pay off your debt for less than you owe while also combining and lowering your monthly payment obligation, by up to 50%.
A debt consolidation loan also combines your monthly payments on multiple debt…
Read the full article at: https://finance.yahoo.com/news/debt-settlement-vs-other-relief-175234249.html
Registered company insolvencies across England and Wales spiked 71% year-on-year to 1,348 in August 2021.
The figure, which was slightly below August 2019s 1,366 insolvencies, consisted of 1,256 CVLs, 35 compulsory liquidations, two CVAs, and 55 administrations.
This represented a year-on-year climb of over 50% for both CVLs and compulsory liquidations, while administrations and CVAs fell by 50% and 87% respectively when compared to August 2020.
As for Scotland and Ireland, which operate under partly devolved legislation, registered company insolvencies roughly doubled to 89 and nine respectively.
While Northern Ireland followed a similar pattern of remaining below August 2019s insolvency levels, company insolven…
Read the full article at: https://www.accountancytoday.co.uk/2021/09/21/company-insolvencies-jump-71-in-august/
Entain PLC updates
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DraftKings, the fantasy sports and betting company, has made a roughly 16.6bn offer for Entain, setting the stage for a battle with the UK gambling groups joint venture partner in the US, the casino giant MGM.
London-listed Entain said on Tuesday that it had received a takeover offer from its US rival, the consideration for which would include a combination of DraftKings stock and cash. DraftKings confirmed it had made the approach but declined to comment further.
The offer, submitted in recent days, valued Entain at more than 25 a share, according to a person with knowledge of the bid. The company did not reveal the terms of the offer but CN…
Read the full article at: https://www.ft.com/content/613a232a-5a77-4e58-a3b2-4a3af69af88f