Insolvency Guardian Media Centre
AN emergency meeting has been held with Greensill Farming staff on Wednesday morning, following parent company Greensill Capital being placed in voluntary administration earlier in the week.
Despite the seemingly extremely bleak outlook for Greensill Capital, farm staff from the company’s Bundaberg and Wallaville operations are understood to have been told it’s farming as usual, at least in the immediate future.
However, there are signs the 3200 hectare farming operation is under significant pressure, with staff told that overtime work would be limited and to rein in any avoidable expenditure.
Greensill Farming is Australia’s largest producer of sweet potatoes, a major grower of peanuts, and harvests about 1600ha of cane a year.
T…
Read the full article at: https://www.queenslandcountrylife.com.au/story/7161285/greensills-global-financial-empire-crumbles/?cs=4698
A doctor defrauded more than 67,000 from the NHS and colleagues by claiming payment for overlapping locum shifts and falsifying cheques in order to pay off a gambling debt.
Dr Aled Jones, 39, was employed at the University Hospital of Wales (UHW) in Cardiff as a registrar when he carried out the frauds, which took place between 2016 and 2019.
During the course of his offending Jones submitted claims for payment from four Welsh health boards for locum shifts he had worked.
But many of these overlapped with each other so Jones would be working more than one non-residential on-call shift for two hospitals at at once, risking a situation where he might have been called out to two patients at the same time.
He also carried out on-call shift…
Read the full article at: https://www.walesonline.co.uk/news/wales-news/dr-aled-jones-cardiff-court-20023278
John Menzies has spent a one-off 70.2m restructuring the business after decreased flight activity caused by the pandemic led to a 37% reduction in revenue.
The Edinburgh-headquartered aviation logistics business blamed the travel restrictions for the loss of revenue, as flight activity led to a 49% year-on-year reduction in volumes for ground handling and refuelling.
The company made 824.4m last year, compared with 1.325bn in 2019, with pre-tax losses through the end of December amounting to 120.5m, compared to a year-on-year loss of 17.3m.
The group recorded an operating loss of 96.2m, despite previously making a profit of 39.6m the year before, although this was mitigated by the government grants totalling 139.2m.
However, John Menzi…
Read the full article at: https://www.insider.co.uk/company-results-forecasts/john-menzies-spends-702-million-23633210
TurboFinance guides users on debt relief.
Debt relief programs offer ways for individuals who are financially struggling to help manage some of their debt by arranging for more affordable payments and eventually eliminate their debt.
LOS ANGELES (PRWEB) March 09, 2021
Professional debt consultants TurboFinance have released their informational guide for consumers looking to mitigate some of their personal debt with debt relief. Debt relief programs offer ways for individuals who are financially struggling to help manage some of their debt by arranging for more affordable payments and eventually eliminate their debt. This is typically accomplished by asking lenders to reduce monthly payments, extend repayment terms, lower interes…
Read the full article at: https://www.prweb.com/releases/turbofinance_publishes_informational_guide_about_debt_relief/prweb17780744.htm
Earlier this month, Brazos Electric Power Cooperative filed for bankruptcy protection following the impact of recent severe winter storms in Texas. What made this filing notable was that Brazos is the largest and oldest power cooperative in the state. It went from a “financially robust, stable” company before the storms to stressing under the weight of $2.1 billion of bills owed to the state’s grid operator following the devastating weather event.
It’s the second notable utility bankruptcy in recent years. California-basedPG&E(NYSE:PCG) filed for bankruptcy protection following a series of devastating wildfires that hit the state. Extreme weather was the culprit in both cases. It therefore seems as if utility stocks might not be as sa…
Read the full article at: https://www.fool.com/investing/2021/03/09/with-more-utilities-going-bankrupt-in-texas-are-ut/
A couple from Wiltshire whose son took his own life after running up huge gambling debts are calling for changes in the law to stop betting sites sponsoring sports teams.
Josh Jones became addicted to gambling, and eventually ran up a debt of more than 30,000.
Despite treatment and the support of his family, an inquest found the 23-year-old he had taken his own life.
“He was borrowing from friends and on this last day he’d taken the day off work because it was payday, to gamble his whole month’s salary, plus the 1,000 bonus he had that month,” his mother Kim Jones told ITV News.
“He would have just thought I can’t get money from anywhere else I’ve got to live another month before I get another payslip, this is it.”
Read the full article at: https://www.itv.com/news/westcountry/2021-03-09/a-waste-of-life-man-died-after-running-up-30k-gambling-debt
The High Court has ruled that an insolvent debtor was not entitled to a new protective certificate under the Personal Insolvency Acts 2012-2015 after he had benefitted from an invalid protective certificate within the previous 12 months. It was claimed by the debtor that the impugned certificate was invalid from inception, and therefore did not count in the general 12-month rule against of a further application.
However, Mr Justice Mark Sanfey determined that the debtor had obtained significant advantage from the invalid certificate and only accepted that it was defective on the day of the application. As such, the invalid certificate still counted against the general 12-m…
Read the full article at: https://www.irishlegal.com/article/high-court-invalid-protective-certificate-prevents-debtor-from-bringing-a-further-personal-insolvency-application-within-12-months
A head-on collision