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The bank's long-running restructuring showed in lower costs TopicsDeutsche|Banking sector|Banks AP | Frankfurt (Germany) Last Updated at April 28, 2021
The moratorium is provided for in The Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium) (England and Wales) Regulations 2020 and will apply to eligible individuals who have debt problems.
The purpose of the Regulations is to give individuals a breathing space during which they can obtain professional debt advice and find a long-term debt solution. The breathing space is only accessible via a debt advice provider who will assess whether the individual is eligible. During the moratorium, creditors and their agents cannot take any enforcement action and interest or other charges are frozen. The moratorium is not a payment holiday and ongoing liabilities will need to be met. The new rules allow an eligible…
By Douglas Fraser Business and economy editor, Scotland
image copyrightGetty Images
image captionThe number of insolvencies is expected to rise despite coronavirus restrictions easing
The number of Scottish companies facing insolvency is expected to rise steeply as government loans have to be paid.
It comes despite restrictions on the economy being relaxed.
R3, the trade body for insolvency and restructuring accountants, said the first quarter of this year has seen a sharp drop in companies and individuals becoming bankrupt.
Corporate insolvencies in January to March were down 31% on the preceding quarter.
The figure was 63% lower than the first quarter of last year.
Personal bankruptcies and the procedure known as …
ANN ARBOR, MIAdmitting that the shifty fish has managed to evade detection by mankind for thousands of years, researchers at the University of Michigan Museum of Paleontology discovered Wednesday that the coelacanth successfully faked its own extinction in order to escape a massive gambling debt. For years we thought all but one related species was gone from this planet forever, but after recent discoveries, we now know it had gone into hiding in the Indian Ocean because it was in deep with some pretty rough customers, said research professor Marcus Zambrano, who claimed the rare fish only resurfaced recently after it had built a new life for itself and was sure the heat had died down. It made a dumb bet with the wrong people, but…
SAN JOS, Costa Rica, April 28, 2021 /PRNewswire/ — PricePerPlayer.com, the leading Sportsbook Pay Per Head provider in the gambling industry is changing its price per player model.The typical model for a bookie Pay Per Head company is to charge a weekly fee for each active gambler. The price range for these services is usually from $3 to $25 per player. However, PricePerPlayer.com is restructuring its business model with lower prices per player.
PricePerPlayer.com is Changing the Sportsbook Pay Per Head Industry
The company is changing from its typical price of $5 per player by using a Pay Per Head pricing chart. With the pricing chart, the cost will depend on the number of active players PricePerPlayer.com h…
When restructuring a company in distress, early specialist engagement is vital says Ryan Grant, Partner in BDO and an Insolvency Practitioner.
When a business is running out of cash, options are severely limited, says Grant. A complication of the pandemic is that many companies have built up significant legacy creditor positions and these will have to be unwound in a controlled manner if any restructuring is to succeed. This all takes time, expertise and the involvement of the right stakeholders.
At the moment, very few creditors can take any enforcement action and the extent of the true creditor position for UK businesses is largely unknown, he continues. What we do know is that there’s money available to support businesses coming out …
Greater Sudbury council says it’s renewingits call to the province to intervene in the insolvency proceedings that are currently underway at Laurentian University.
This is the second time the citywill officially petition the province on the matter, which began Feb. 1, when the university declared itself financially insolvent and entered restructuring proceedings under theCompanies’ Creditors Arrangement Act.
CouncillorsFern Cormier(Ward 10) and Deb McIntosh(Ward 9) brought forward the motion.
“What I hope we will convey to this motion is a message to the provincial government that we want them to do anything and everything that they can as we go forward,” Cormier said.
“I wish the university had … taken a more laser-like focus on …
Deutsche Bank saw its strongest quarterly profits in seven years as the bank’s long-running restructuring showed in lower costs and as it suffered fewer loan losses due to an improving economic outlook as growth slowly rebounds from the pandemic.
Profit attributable to shareholders was 908 million euros (USD 1.1 billion) in the first three months of the year compared with a loss of 43 million euros in the year-earlier period. Top-line revenues rose 14 per cent to 7.23 billion euros.
Among the factors contributing to the improved result was releasing money that …
In the summer of last year, the Corporate Insolvency and Governance Act 2020 (CIGA) was rushed through the UK Parliament in a five-week period to deal with the expected fallout from the Covid-19 pandemic. As the biggest change to the UKs insolvency and restructuring legalisation in over 20 years, one of the cornerstones of this new legislation is the introduction of the Restructuring Plan. While many of the provisions and the intent of both the Restructuring Plan and the existing Scheme of Arrangement are not dissimilar, what is ground-breaking is the introduction of the Cross-Class Cram-Down mechanism (or CCCD) and the sharp focus this is bringing on evidence as to where value breaks within the capital structure of the company in quest…
Fenix, the majority shareholder of Maltese Falcon builder Perini Navi, has announced plans to save the iconic Italian shipyard from bankruptcy.
The firm has signed an agreement with private equity firm Clessidra and another investor to relaunch the luxury Italian shipyard, Reuters reports.
Reports add that Fenix aims to inject a significant capital increase to reinvigorate the company. While Fenix will retain a minority stake in Perini Navi, Clessidra and the unnamed second investor will own majority stakes. The aim is for full production to continue and employment levels to be maintained.
It comes after the yard was declared bankrupt by an Italian court on January 29 after it failed to present a final restructuring plan for debts of 1…
Kerry Katona attends the Paul Strank Charity Gala supporting Shooting Star Children’s Hospices & Rays of Sunshine Charity at the Bank of England Sports Centre in London. (Photo by Keith Mayhew/SOPA Images/LightRocket via Getty Images)
Kerry Katona has revealed that she’s bought her own home after “losing everything” 13 years ago.
The mother-of-five ran into financial trouble in 2008 when she was declared bankrupt for the first time before filing for bankruptcy again in 2013.
Katona, 40, told her Instagram followers on Wednesday morning that she wanted to share the news to show that she had managed to “turn things around” after struggles with her money, mental health, drugs, and relationships.
FRANKFURT, Germany (AP) Deutsche Bank saw its strongest quarterly profits in seven years as the bank’s long-running restructuring showed in lower costs and as it suffered fewer loan losses due to an improving economic outlook as growth slowly rebounds from the pandemic.
Profit attributable to shareholders was 908 million euros ($1.1 billion) in the first three months of the year compared with a loss of 43 million euros in the year-earlier period. Top-line revenues rose 14 percent to 7.23 billion euros.
Among the factors contributing to the improved result was releasing money that had been set aside to cover loans that aren’t expected to be repaid. Provisions for credit losses fell 86% to only 69 million euros in the first quart…
In his Saturday column, Jay Greeson lauded Tennessee’s legalized online sports wagering. In past columns, he touted the revenue generated and posits a situation in which a husband tells his wife “It’s (his bet) for the children.” In a previous column, Mr. Greeson also posted links to the various online sites.
In 2019, a “reluctant” Gov. Bill Lee signed Tennessee’s legalized online wagering into law. In the first month of legalization, the public made $131 million in bets. Of this princely sum, the state received just $2.3 million in revenue for the Tennessee Education Lottery.
Wagering is a genteel term for gambling, plain and simple, and, like other habits, gambling can be addictive, even a…
