Insolvency Guardian Media Centre
The representative for the biggest players in Australian online gambling says punters should be not be stopped from going into debt to bet.
Key points:
- MP Andrew Wallace says the banks have a “social responsibility” to put a halt to credit card use in online betting
- The banking industry says it has no plans to change its policy on the use of credit cards despite raising the matter itself in 2019
- The head of a gambling lobby says online betting comes with greater safeguards than casinos or pokies
Responsible Wagering Australia chief executive Brent Jackson’s remarks follow a call for a crackdown on the use of credit cards in online gambling from Queensland MP Andrew Wallace.
The LNP Member for Fisher is pushing the country’s banks to create a…
Read the full article at: https://www.abc.net.au/news/2021-02-17/online-gambling-boss-says-ok-to-bet-with-debt/13159438
Becoming debt free is a journey that plenty of people aspire to embark on, but taking the first step requires great courage.
On this weeks Money Clinic podcast, presenter Claer Barrett hears from a couple in their 30s who have each run up credit card debts of more than 10,000 ($13,500).
FT podcast: Starting your debt-free journey
Claer Barrett talks to listener Duncan about how to escape his credit card debts. Download here
Duncan and his partner found that the pandemic amplified their debt problems. Like millions of others, they were furloughed from work getting 80 per cent of their salaries, but still having to pay 100 per cent of their bills. How can they get their finances back on track and how could speaking to a debt advise…
Read the full article at: https://www.ft.com/content/6aee4287-a1a7-4f11-93e4-492114061b2f
NEW YORK and LONDON, Feb. 16, 2021 /PRNewswire/ –Teneo, the global CEO advisory firm, today announced a major expansion of its international consulting capabilities with an agreement to acquire the Restructuring Services business of Deloitte UK. Teneo is a portfolio company of funds advised by CVC Capital Partners, who are making an incremental equity investment as part of this transformational transaction.
The transaction, which is subject to regulatory approval, further extends the range of market-leading advisory services that Teneo provides to business leaders, their boards, companies and a wide range of institutions around the world.
The Restructuring Services business of Deloitte UK, comprising more than 250 people including 27 p…
Read the full article at: https://www.prnewswire.com/news-releases/teneo-extends-global-presence-with-acquisition-of-deloittes-uk-restructuring-services-business-301228641.html
Guest comment: Expected surge in Covid-19 insolvencies may mask true health of DB landscape
Despite several recent high-profile corporate failures, and some of the most challenging operating circumstances imaginable for many companies throughout 2020, insolvencies in the UK have remained relatively subdued.
This is widely expected to change once the government support measures introduced in response to the Covid-19 pandemic are withdrawn, but how many corporate insolvencies would be a significant deviation from historic norms and be a serious cause for alarm?
The Insolvency Service recently published details of the number of company insolvencies in the UK in 2020, noting that for England and Wales the total number of registered underlyin…
Read the full article at: https://www.pensionsage.com/pa/Expected-surge-in-Covid-19-insolvencies-may-mask-true-health-DB-landscape.php
Vancouver, British Columbia–(Newsfile Corp. – February 16, 2021) – North American Nickel Inc. (TSXV: NAN) (OTCBB: WSCRF) (CUSIP: 65704T 108) (the “Company” or “NAN“) is pleased to announce that Premium Nickel Resources (“PNR“) has been selected as the preferred bidder for the Botswana nickel-copper-cobalt (Ni-Cu-Co) assets, currently in liquidation, and formerly operated by BCL Limited.
NAN is a founding shareholder in Premium Nickel Resources, a private Canadian company which provides direct exposure to Ni-Cu-Co opportunities in the southern African region. PNR submitted an Indicative Offer (“IO“) to the BCL Liquidator in June 2020 to acquire the former producing Selebi-Phikwe, Tati Phoenix and Selkirk Mines as well as regional explor…
Read the full article at: https://www.juniorminingnetwork.com/junior-miner-news/press-releases/886-tsx-venture/nan/93360-north-american-nickel-reports-pnr-selected-as-preferred-bidder-in-bcl-liquidation.html
She hoodwinked investors by cooking the books of her wellness website, now glamorous social media influencer Bianca Cheah has been declared bankrupt.
In 2019, the NSW Supreme Court ordered Ms Cheah and her husband Simon Chalmers to pay the former Australian boss of investment bank Lazard Garren Cronin and his wife Emma more than $1 million after engaging in “misleading or deceptive conduct”.
Ms Cheah, who moved to Los Angeles from Sydney in 2016, and Mr Chalmers were found to have inflated the revenue of their digital publishing, marketing and advertising business, Sporteluxe, using income she got from the International Management Group for work as a model and influencer.
Simon Chalmers and Bianca Cheah. Picture: Supplied
The cour…
Read the full article at: https://www.qt.com.au/news/influencer-bankrupted-over-1m-debt/4198437/
Australian supermarket and retail chain, the Coles Group, last week indefinitely extended the three-month lockout of workers at its Smeaton Grange warehouse in southwestern Sydney. This is part of an attempt by Coles, one of the countrys largest companies and employers, to satisfy the dictates of the global financial markets, which are demanding higher investment returns and share prices.
The most immediate objective of the extension of the lockout is to starve workers into accepting a sell-out deal, pushed by the United Workers Union (UWU), that would result in the closure of the facility and the destruction of most, if not all, of the 350 jobs there. In a critical stand, the Smeaton Grange workers voted on February 2 to reject the com…
Read the full article at: https://www.wsws.org/en/articles/2021/02/16/cole-f16.html
Leeds-based law firm Clarion has appointed a new legal director to its business restructuring and insolvency practice.
Victoria Kay has experience acting on both bank-led and business-led restructuring work, acting for insolvency practitioners on formal insolvencies and advising businesses and directors on a range of financial distress related issues.
She also has notable corporate restructuring and insolvency experience having acted in respect of both the sale and purchase of a number of high-profile distressed businesses across sectors including football, retail and leisure.
Kay said: “Clarion is a major player in the field of insolvency and restructuring, with the largest dedicated team in the North. It commands a si…
Read the full article at: https://www.insidermedia.com/news/yorkshire/clarion-appoints-legal-director-to-business-restructuring-and-insolvency-team
Practical tips for taking action on debt and seeking advice
Many people would like to move to a life with less or no debt, but taking the first step requires great courage. This week Claer hears from a couple in their 30s who have each run up large credit card debts. Duncan and his partner found that the pandemic made their debt problems worse. How can they get their finances back on track? Could a debt adviser help? Chris Browning, presenter of US podcast Popcorn Finance, has practical tips, and debt advice specialist Alan McIntosh explores different solutions.
If you would like to talk to Claer for a future podcast episode, email the Money Clinic team [email protected] with a brief description of your story. Follow Claer on Twitter and In…
Read the full article at: https://www.ft.com/content/d1b959b9-f702-4c6e-83f7-d265757276b1
The ruling highlighted the potential for a group of different lease creditors to be grouped together to vote on a scheme of arrangement or restructuring plan proposed by a tenant company and which could have the effect that the landlords are forced to accept revised lease arrangements on less favourable terms.
The High Court case
Malaysian Aviation Group Bhd (MAG) is undertaking a RM16 billion (2.85bn) debt restructuring following a period of business decline. MAG has been in active discussions with key stakeholders over the last six months, aviation being one of the most severely impacted sectors during the Covid-19 pandemic. Part of the restructuring is being implemented by a scheme of arrangement proposed by MAGs subsidiary, MAB Leas…
Read the full article at: https://www.pinsentmasons.com/out-law/analysis/ruling-shows-potential-landlords-lose-tenant-restructurings
Our ref: FOI20/21-146
Date: 21 December 2020
Dear ,
Re: Freedom of Information Act 2000
Thank you for your email of 30 November in which you requested from the Insolvency Service:
I am writing to ask if it would be possible to have the following data set from the Insolvency Service Individual Insolvencies by ward 2019
Your request has been dealt with under the Freedom of Information Act 2000 (FOIA).
I can confirm the agency holds the information that you have requested and have provided this information in the accompanying Excel workbook (Annex A to this letter). Note that some totals may not be consistent with information previously published on 2019 individual insolvencies.
Under section 16 of the Act (Advice and Assistance) you may f…
Read the full article at: https://www.gov.uk/government/publications/insolvency-service-foi-responses-october-to-december-2020/foi-146-individual-insolvencies-by-ward-for-2019
Renault Samsung Chief Executive Dominique Signora made the comments as the company struggles with lower vehicle sales and high labor and manufacturing costs
Topics
Renault|Samsung|Automobile
IANS | Seoul
Last Updated at February 16, 2021 09:17 IST
The chief of Renault Samsung Motors said on Tuesday that restructuring will be inevitable for the survival amid the prolonged coronavirus pandemic and lower demand for its models.
In a message to employees, Renault Samsung Chief Executive Dominique Signora made the comments as the company struggles with lower vehicle sales and high labor and manufacturing costs.
“There is an urgent need to cut costs (through restructuring) to ride out this crisis as the company’s overall vehicle sales…
Read the full article at: https://www.business-standard.com/article/automobile/restructuring-inevitable-for-renault-samsung-for-survival-ceo-signora-121021600180_1.html