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Sports betting operators VIP schemes have been reportedly targeted by government Ministers, according to theDaily Mail, as a new outcome of the overhaul of the2005 Gambling Act.
Citing government sources, the Mail detailed that the practice has been reportedly described as immoral by gambling law reform advocating Ministers, who have argued that VIP schemes encourage problem gambling.
Under current regulations, membership of VIP schemes for bettors under the age of 25 requires approval from senior administrators at betting operators, in addition to enhanced account monitoring.
The current situation regarding VIP schemes has been defended by theBetting and Gaming Council(BGC), with a statement informing the pa…
This article first appeared in The Edge Malaysia Weekly, on August 2, 2021 – August 08, 2021.
JOHOR Corp Bhd (JCorp), the state-controlled investment arm of Johor, is in the midst of a large-scale restructuring exercise, which entails a full-scale review of its existing business ventures, sources familiar with the matter tell The Edge.
While details are scarce, it is understood that Maybank Investment Bank Bhd and CIMB Investment Bank Bhd have been roped in to assist with the restructuring of JCorp, which had RM23.28 billion in assets as at end-December 2019.
In an email response to questions from The Edge on the planned restructuring, a JCorp spokesperson says, As a major investment holding institution with core businesses involved in t…
The amendments “should pave the way for corporate India into the future”, Sood said, adding: “Of course, many other areas need reform too” and the Insolvency and Bankruptcy Code and the Arbitration and Conciliation Act “are not a cure for all problems”.
“Free play in the joints ought to be given to the legislature and the executive while making economic laws and regulations. Economic regulations are an ever-evolving process that must keep pace with the needs of the economy,” Sood noted.
Elaborating on the benefits of the amendments, he said the duty imposed on the IP (Insolvency Professional) to find the changing names and registered offices of corporate debtors “is in public interest”.
This is because stakeholders “may not be able to t…
Now that we know that student loan payments will be suspended until next January, two questions remain: Will payments be suspended again (or again and again and again)? If the suspension is lifted, how will students begin to repay after such a long hiatus?
There are at least two answers: First, forgive all the debt and forget about it. Or second, find new resources to inject into the student loan system to reduce the burden on students.
It seems everyone has an opinion on debt forgiveness from equity to moral hazard concerns but few have tried to find more money. Its been hiding right in front of us: Americas employers.
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When students invest in their education, their future employers benefit. Yet, in assigning the costs o…
Written by Daniela Soares Ferreira and Sonia Perez Pinto
Groundforce creditors will face millions in debt if TAPs insolvency application proceeds. The airline is a major shareholder, with overdue debts of around 16.4 million on June 30. ANA (12.8 million euros), Prosegor (177 thousand euros), Iberlin (140 thousand euros), UCS (125 thousand euros), Klimex (126 thousand euros), MEO (52 thousand euros) and Jorist (49 thousand euros). Montepio can also be left empty-handed. As Nascer do SOL advances, the financial institution has hired a financial intermediary China Investment Bank Bison Bank (which has obtained the Banif Banking License Banco de Investimento) to sell the shares it holds in Groundforce, freeing up the Credit Recovery De…
Richard Whitham and his wife Erika Whitham. The couple, along with their four young children and Erikas mother, Elisabet van der Merwe, left New Zealand on May 17, 2018 (file photo).
Kiwi dad Richard Whitham illegally transferred hundreds of thousands of dollars from a Singaporean bank account on a single day.
It was an act that would cause the Hamilton father-of-four to spend almost three years locked up in a foreign jail.
Whitham is accused of stealing $4.5 million from his former employer Hamilton-based finance company Worldclear before fleeing New Zealand with his wife, children and mother-in-law in May 2018 to Singapore.
And now court documents, obtained by Stuff, detail the exact nature of Whitham’s offending.
Tencent denies laying off employees in short video business restructuring
By Global TimesPublished: Aug 08, 2021 07:23 PM
Douyin (left) and Weishi Photo: IC
Chinese technology company Tencent denied market rumors that the company will lay off employees in a claimed business merger of its short video platform Weishi and Tencent Video amid intensified competition from Kuaishou and Douyin, the Chinese version of TikTok.
The company told the Global Times on Sunday that in its new round of business integration, products from the two units will be integrated into Tencent’s online video products department, and they will continue to operate independently.
The adjustment does not involve any employee lay-offs, the company sa…
Credit card debt is tough to manage, but a good repayment strategy can help.
Anyone who has had credit card debt knows that it’s no picnic. You do your best to chip away at it, only to see new bills and interest charges slow down your progress.
Fortunately, there are several strategies that make it easier to pay off credit card debt. The right one can keep you motivated, save you money on interest, and get you out of debt sooner.
Remember that for any of these strategies to be effective, you need to avoid adding to your debt and put as much disposable income as possible towards it.
One email a day could help you save thousands
Tips and tricks from the experts delivered straight to your inbox that could help you save thousands of dol…
The Parliamentary Standing Committee on Finance has called out the Ministry of Corporate Affairs on persistent vacancies in National Company Law Tribunals (NCLTs) leading to delays in corporate insolvency under the Insolvency and Bankruptcy Code (IBC). The committee has also recommended that the IBC be amended to prevent frivolous litigation and non-adherence to deadlines under the IBC that can lead to value destruction.
The committee recommended that the IBC strictly prohibit the submission for resolution plans after the deadline for plans and that recoveries under the IBC be measured against an international benchmark.
Why are vacancies in the NCLT a major issue?
The combined strength of the current NCLT benches around the country is …
The National Company Law Tribunal (NCLT) has dismissed a petition of the promoters of IT firm Rolta India Ltd seeking one-time settlement and regain the control of the company
The National Company Law Tribunal (NCLT) has dismissed a petition of the promoters of IT firm Rolta India Ltd seeking one-time settlement and regain the control of the company facing insolvency proceedings.
In an order dated August 6, 2021, the tribunal rejected the Section 12 A plea of the promoters, Rolta said in a regulatory filing on Saturday.
“… Stock Exchanges are further informed that on August 06, 2021, NCLT (pronounced orally in open court) has dismissed the applications filed under Section 12A of the Code at the instance of ex-ma…
