Steven Edwin Prosser (60), from Broxbourne, Hertfordshire, was appointed a director of Sell Your Car With Us Limited in May 2016. The company sold second hand cars and traded from premises on Hare Street in Buntingford, Hertfordshire.
Three years later, Sell Your Car With Us entered into liquidation in September 2019. The companys insolvency, however, triggered an investigation by the Insolvency Service who uncovered several instances of misconduct caused by Steven Prosser.
Sell Your Car With Us entered into agreements with customers to sell their vehicles for a commission before paying the customers within 14 days of the completed transaction.
Investigators, however, found that at least 48 customers did not receive any returns fol…
Read the full article at: https://www.miragenews.com/car-salesman-fails-to-pass-on-750000-to-629989/
The Diamond Live Lounge in Wood Street closed its doors in January after being declared insolvent but details of its closure and bankruptcy have only just come to light.
Now it has been announced that a new licence has been granted for the venue, better known to generations of Doncaster clubbers as Camelots.
Doncaster Licensing has announced this week that a licence has been given to a firm known as Campbell Bars Limited.
Little is known about the new licence holders, although a firm by that name is registered to an address in Lazarus Court the same ad…
Read the full article at: https://www.doncasterfreepress.co.uk/news/new-licence-owner-for-iconic-doncaster-town-centre-party-venue-is-revealed-3378233
Starbreeze’s former chief financial officer Sebastian Ahlskog has been acquitted of all charges for insider trading.
He was convicted in 2020 following an investigation into the sale of his shares ahead of Starbreeze’s reconstruction period, a special measure for Swedish businesses on the brink of insolvency.
Ahlskog stepped down as CFO in October 2018, selling his shares a month later to raise over SEK 700,000 ($72,000 at the time, but $81,000 today). In December, it emerged that Starbreeze was facing insolvency.
However, court documents shared with GamesIndustry.biz and authenticated by the Swedish Court of Appeal show that he was acquitted earlier this year.
The court confirmed t…
Read the full article at: https://www.gamesindustry.biz/articles/2021-09-10-former-starbreeze-cfo-acquitted-of-insider-trading-charges
There are calls to ban the use of credit cards in online betting platforms over fears they are causing irreparable financial harm.
Australian senators have heard impassioned pleas by financial counsellors and gambling reform groups to ban the use of credit cards for online betting.
The use of credit cards for online wagering platforms like Sportsbet could be banned if the proposed Interactive Gambling Amendment (Prohibition on Credit Car Use) Bill 2020 passes.
A Senate committee heard submissions on Friday as it prepare to hand down its recommendations.
Under the Bill, its suggested Australia follow the United Kingdom, which banned credit cards for all forms of remote wagering last year.
Proponents of the Bill say the ban would ensure…
Read the full article at: https://www.news.com.au/finance/business/other-industries/push-to-ban-credit-cards-in-online-gambling/news-story/d4f0f274fd7d08ce1f428b600c1582c8
10 September 2021
PwC has enhanced its business restructuring services with the appointment of Rob Asplin as a Senior Advisor. The Head of the department, Steve Russell, praised a great addition to the team, demonstrating PwCs continued investment in the sector.
Asplin arrives with more than two decades of expertise in the restructuring and private equity sectors, specialising in protecting and creating value in turnaround situations. His appointment atPwC will centre on supporting UK businesses of all sizes to maximise value through the critical post-Covid recovery period. Asplin will be particularly focused on working with private equity-backed businesses and Private Equity owners in designing and delivering …
Read the full article at: https://www.consultancy.uk/news/28932/pwc-appoints-private-equity-expert-rob-asplin-as-senior-advisor
The attempt to rescue and relaunch Jet Airways (JAI, Mumbai Int’l) is likely to be prolonged, or even jeopardised, as the airline faces fresh litigation. Meanwhile, Dutch administrators have sold one of the carrier’s Boeing widebodies for USD9 million, a monitoring committee official revealed.
While the consortium behind the attempted relaunch comprising Murari Lal Jalan, a UAE-based Indian investor, and UK fund Kalrock Capital, had planned to resume flight operations by early 2022, the Punjab National Bank, a nationalised New Delhi-based bank, has alleged irregularities in the plan. The bank approached the National Company Law Appellate Tribunal (NCLAT) alleging gross irregularities in the bankruptcy resolution, and the tribunal agre…
Read the full article at: https://www.ch-aviation.com/portal/news/107660-jet-airways-relaunch-in-jeopardy-b777-sold-for-9mn
PHOENIX (3TV/CBS 5) — While many people are excited that sports betting is now legal in Arizona, others say there is a dark side to expanding gambling in our state.
“When I first started, it was fun,” recovering gambler Steve Feinberg said. He got hooked at just 15. “I was an active compulsive gambler for the better part of 20 years,” he said. He got started playing cards with a next-door neighbor, but things escalated. Quickly. “It seems innocent at the start, but pretty soon, it seems hopeless,” Feinberg said.
While Feinberg doesn’t know exactly how much money he lost, he says it was well into the six figures. But the massive debt wasn’t his only problem. “What I didn’t really consider was that I los…
Read the full article at: https://www.azfamily.com/news/former-gambler-turns-life-around-but-warns-others-of-gambling-dangers/article_c4956e6a-101f-11ec-8bc1-a79d2ead65c4.html
A man holds a petrol nozzle in a petrol pump in Kolkata, India, 03 July, 2021.
Indranil Aditya | NurPhoto | Getty Images
DETROIT Ford Motor is ending vehicle production in India, shutting down its two large plants there and terminating thousands of employees, as CEO Jim Farley restructures the automaker’s operations as part of a turnaround plan.
The company said Thursday the actions will cost about $2 billion, including pretax special charges of about $600 million in 2021 and $1.2 billion in 2022. About $300 million of the $2 billion will be non-cash charges, including accelerated depreciation and amortization, according to the company.
Ford has two vehicle and engine plants Chennai and Sanand in the country that employ thou…
Read the full article at: https://www.cnbc.com/2021/09/09/ford-to-spend-2-billion-to-close-plants-in-india.html
ARDSLEY, N.Y.–(BUSINESS WIRE)–Acorda Therapeutics, Inc. (Nasdaq: ACOR) today announced a corporate restructuring to reduce costs and more closely align operating expenses with expected revenue. The Company also announced changes to its management team.
Corporate Restructuring
As a result of the restructuring, the Company is reducing headcount by 15%. Most of the reduction in personnel will take place immediately, with the balance completed in the first quarter of 2022.
The Company expects to realize annualized cost savings of approximately $20 million from the headcount reductions and the outsourcing of certain operations, beginning in 2022. Acorda estimates that it will incur approximately $3.0 million of pre-tax charges for sever…
Read the full article at: https://www.businesswire.com/news/home/20210909005349/en/Acorda-Therapeutics-Announces-Corporate-Restructuring-Management-Changes
Politicians and academics are turning their attention to a new trade pitch for South Africa: debt relief in exchange for progress toward global climate goals.
The debt-for-climate concept, which was floated by International Monetary Fund MD Kristalina Georgieva in April, has been picked up by South African Deputy Finance Minister David Masondo and the South African Communist Party, which is part of the countrys ruling coalition. The IMF plans to raise the idea at the COP26 climate conference in Glasgow in November.
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Backers of the proposal hope creditors can be persuaded that climate change is a global problem so urgent that its worth forgiving debts in developing nations to help them pay for costly transitions to cleaner e…
Read the full article at: https://www.miningweekly.com/article/new-trade-idea-for-south-africa-is-debt-relief-for-climate-goals-2021-09-09