Insolvency Guardian Media Centre

Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
Agribusinesses and farmer creditors left out of pocket after the crash of failed Chinese-owned cotton marketer Weilin Trade have been
Dive Brief: As makeup begins a possible recovery, Ulta Beauty is laying off an unspecified number of corporate employees, a
If you're struggling with credit card debt and other bills you can't seem to pay off, Freedom Debt Relief offers
Love Island star Scott Thomas has told how a gambling problem saw him lose 20,000 and he even rooted around
A FORMER technical support agent for Apple, who claimed he was storing cocaine for a dealer to pay off gambling
Important Greenwise Debt Relief is not one of our top-rated life debt relief companies. You can review our list of
The National Company Law Tribunal (NCLT), Chennai, has allowed police protection to be provided to Subrata Monindranath Maity, a resolution
The Korean Baseball Organisation (KBO) is facing a betting scandal on the eve of the 2021 season. The KBO disclosed
A tech graduate with no previous convictions, who was caught with 35,000 of cocaine which he claimed he was storing
NORWALK, Conn.--(BUSINESS WIRE)--Frontier Communications Corporation (OTC: FTRCQ) (Frontier Communications) announced today that it has secured approval from the Federal Communications
I get calls almost every other day, according to another in April. I consider this harassment. I am reporting a
It was a dramatic end for government super-contractor Carillion when it crashed into insolvent liquidation in January 2018. Part-completed road

Agribusinesses and farmer creditors left out of pocket after the crash of failed Chinese-owned cotton marketer Weilin Trade have been paid 20 cents for every dollar they were owed.

Weilin’s administrators suggest there is a chance a further small dividend of maybe one cent more could follow after the receivership process winds up.

However, its parent or related company has retained irrigated property assets in southern NSW, despite having only contributed enough to cover about a fifth of its trading arm’s debts to growers and service providers.

Weilin Trade went into receivership in early July after it was caught by a $100 a bale market slump in February-March last year leaving it unable to pay growers for cotton it had contracted t…

Read the full article at: https://www.farmonline.com.au/story/7088238/weilins-modest-debt-repayment-offer-banked-by-cotton-creditors/

Dive Brief:

  • As makeup begins a possible recovery, Ulta Beauty is laying off an unspecified number of corporate employees, a spokesperson told Retail Dive via email. The total number was “a meaningful, but relatively small number of our total associates,” the spokesperson said.

  • The layoffs resulted from a restructuring that eliminated current and open roles across all functions in the company, reorganized certain positions, expanded others and added new positions to investment areas. They were a result of the impacts of the pandemic and the knowledge that “recovery will take considerable time and that the context we operate in has shifted meaningfully,” the spokesperson said.

  • At the same time, the beauty retailer announced a new st…

    Read the full article at: https://www.retaildive.com/news/ulta-announces-corporate-layoffs-merchandising-restructure/593479/

    If you’re struggling with credit card debt and other bills you can’t seem to pay off, Freedom Debt Relief offers a potential solution. This company aims to help you negotiate and settle your debts for less than what you owe, although you’ll pay fees based on a percentage of the debt they help settle on your behalf.

    Like other debt relief companies, Freedom Debt Relief offers a free consultation that can help you envision how the process might work in your situation. You will also get an estimate of how much you could save during this phone call, as well as how long you can expect to be in the program.

    Debt settlement is a process that asks you to set aside money each month in a specified account so you can use it to settle your deb…

    Read the full article at: https://www.investopedia.com/freedom-debt-relief-review-5094071

    Love Island star Scott Thomas has told how a gambling problem saw him lose 20,000 and he even rooted around his own grandmother’s handbag for 20 notes to fund the habit.

    Scott, 32, who was runner-up in the 2016 series of the reality show, told the Irish Mirror of his shame at what he had done.

    He described how he would wait for the bookies to open so he could try and win back the money he’d lost on casinos the night before.

    The reality star, who has been able to shake his habit, was candid about his gambling issue when speaking to Adam and Ryan Thomas on their Mancs on the Mic podcast.

    He said: “When I was a student, I had a really bad gambling problem.



    Get the latest updates from across Greater Manchester direct to your …

    Read the full article at: https://www.manchestereveningnews.co.uk/news/showbiz-news/love-island-star-scott-thomas-19630148

    A FORMER technical support agent for Apple, who claimed he was storing cocaine for a dealer to pay off gambling debts, has been jailed.

    Paul Bourke, 37, had never been in trouble with the law before he was caught with over 32,000 worth of cocaine, which gardai seized at Popes Quay in Cork on December 21, 2018.

    Cork Circuit Criminal Court

    2

    Cork Circuit Criminal CourtCredit: Alamy
    Judge Sean ODonnabhain

    2

    Judge Sean ODonnabhain

    Detective Garda Robert Kennedy told Cork Circuit Criminal Court yesterday that gardai had received confidential information in relation to Mr Bourke.

    They observed him leaving his apartment in Coppingers Quay, Cork, and spotted him exiting a van with a parcel.

    The package contained cocaine with a street value of 32,515. Cannabis valued at 814 was also rec…

    Read the full article at: https://www.thesun.ie/news/6420533/apple-agent-jail-cocaine-gambling-debt-cork/

    Important

    Greenwise Debt Relief is not one of our top-rated life debt relief companies. You can review our list of the best debt relief companies for what we think are better options.

    Greenwise Debt Relief claims they want to be your “compassionate ally” in your journey out of debt, and they accomplish this goal through a process known as debt settlement. Unlike other debt relief strategies such as debt consolidation or debt management plans (DMPs), debt settlement requires you to stop making payments on your bills and to set aside the money for your payments in a dedicated savings account instead. Once you have enough money in your savings account to get started with debt settlement, Greenwise will begin working on your behalf with …

    Read the full article at: https://www.investopedia.com/greenwise-debt-relief-review-5095315

    The National Company Law Tribunal (NCLT), Chennai, has allowed police protection to be provided to Subrata Monindranath Maity, a resolution professional (RP) in-charge of Bhatia Coke and Energy Ltd., after he alleged that he, along with his team and family members, were being threatened by erstwhile directors of the company.

    In 2019, NCLT had directed initiation of insolvency proceedings against Bhatia Coke for non-payment of dues of about 125.9 crore to a consortium of banks, in a case filed by the SBI.

    In his petition, Mr. Maity noted that the erstwhile directors had made allegations against him under provisions of the IPC and criminal prosecution had been initiated against him. An FIR had been filed in Madhya Pradesh, and another in …

    Read the full article at: https://www.thehindu.com/news/cities/chennai/nclt-allows-police-protection-for-resolution-professional/article33584413.ece

    The Korean Baseball Organisation (KBO) is facing a betting scandal on the eve of the 2021 season. The KBO disclosed that two players from the Doosan Bears have become involved in illegal sports betting. Sports gambling is illegal under local laws in Korea and the KBO specifically prohibits players from gambling.

    Baseball

    The Doosan Bears disclosed to the KBO earlier this week that two players had been found to have purchased sports betting tickets. The Bears asked the KBO to transfer catcher Kwon Ki-Young and pitcher Jeong Hyun-Wook to the inactive list. The Bears advised the league that they will fully cooperate in the investigation of the pair.

    Jeong allegedly bought tickets on the Sports Toto lottery in Korea, while Kwon allegedly used ill…

    Read the full article at: https://calvinayre.com/2021/01/15/sports/korean-baseballers-mired-in-gambling-scandal/

    A tech graduate with no previous convictions, who was caught with 35,000 of cocaine which he claimed he was storing in order to pay off a gambling debt has been jailed for three years.

    Garda seized over 35,000 worth of cocaine at Popes Quay in Cork on the 21st of December 2018.

    Detective Garda Robert Kennedy told Cork Circuit Criminal Court that garda had received confidential information in relation to Paul Bourke.

    They observed Mr Bourke (37) leaving his apartment in Coppinger’s Quay, Cork and spotted him exiting a van with a parcel.

    The package contained cocaine with a street value of 32,515. Cannabis valued at 814 was also recovered.

    Mr Bourke was arrested and detained at Mayfield Garda Station in Cork. He readily admitted his inv…

    Read the full article at: https://www.breakingnews.ie/ireland/apple-worker-with-gambling-addiction-jailed-for-drug-dealing-1065135.html

    NORWALK, Conn.–()–Frontier Communications Corporation (OTC: FTRCQ) (Frontier Communications) announced today that it has secured approval from the Federal Communications Commission (FCC) for its Chapter 11 restructuring. Frontier now has regulatory approvals, or favorable determinations, for its required change-in-control applications related to its court-supervised restructuring from the FCC and 13 states: Arizona, Georgia, Illinois, Minnesota, Mississippi, Nebraska, Nevada, New York, Ohio, South Carolina, Texas, Utah and Virginia.

    Frontier expects to promptly consummate the transactions contemplated under its previously confirmed Plan of Reorganization and emerge from Chapter 11 in early 2021. Upon emergence, Frontie…

    Read the full article at: https://www.businesswire.com/news/home/20210115005118/en/Federal-Communications-Commission-Approves-Frontier’s-Chapter-11-Restructuring

    I get calls almost every other day, according to another in April. I consider this harassment.

    I am reporting a potentially fraudulent credit collection and reporting issue, said a third.

    The firm, Capio Asset Servicing, came under investigation last year as part of Operation Corrupt Collector, an enforcement sweep of the debt-collection industry by federal and state officials. In a September lawsuit, New Mexico Attorney General Hector Balderas (D) alleged that the company was seeking to collect debts that were not owed and causing emotional and physical stress when they threaten and intimidate consumers.

    AD

    AD

    Yet the federal governments Paycheck Protection Program last year also gave the company a helping hand: It provided $2….

    Read the full article at: https://www.washingtonpost.com/business/2021/01/15/debt-collectors-payday-ppp/

    It was a dramatic end for government super-contractor Carillion when it crashed into insolvent liquidation in January 2018. Part-completed road projects, unfinished hospital buildings and disruption to hospital cleaning and catering heralded the end of this self-styled integrated support services business.

    Carillion owed its creditors over 1.5 billion, and when matters came to a head on the back of asset write-downs and a plummeting share price, the government refused to mount a rescue. In the end over 3,000 employees lost their jobs and many supplier firms lost contracts, with domino insolvencies spreading from the rotten core of Carillion.

    Now comes the possibility of a regulatory reckoning, at least for eight directors of the public …

    Read the full article at: https://theconversation.com/carillion-move-to-disqualify-directors-signals-uk-authorities-getting-tougher-on-corporate-wrongdoing-153390

    Go to Top
    Call Now Button