Insolvency Guardian Media Centre
TheBritish Columbia Lottery Corporation recently conducted the first of two virtual pre-conference sessions, namedBanking on a Different Perspective: The Financial Industrys Role in Safer Gambling.Below is an extract from the webinar sent to Gambling Insider:
Financial-services firms are in a unique position to not only support the financial wellbeing of their customers but also their healthy-gambling decisions.
That was the focus of last months New Horizons in Responsible Gambling pre-conference session Banking on a Different Perspective: The Financial Industrys Role in Safer Gambling, hosted by BCLC.
Session speaker Natalie Ledward, vulnerability manager at Monzo Bank Ltd. in the UK (pictured right), outlined that banks strategy to p…
Read the full article at: https://www.gamblinginsider.com/news/10790/bclc-webinar-how-financial-institutions-can-support-customers-with-safer-gambling
Member Article
North East England has retained its unwanted place at the top of the table for personal insolvency in England and Wales for the twelfth successive year.
According to the latest annual figures released by the Insolvency Service, there were 34.6 individual insolvencies per 10,000 people in the region in 2019, compared to a rate for England and Wales of just 26.1.
The new regional figure represents an increase on the 2018 rate, which stood at 33.2 individual insolvencies per 10,000 people, and 27.2 individual insolvencies per 10,000 people in 2017.
And with the significant impact of the pandemic on the regions personal finances not yet factored into the Insolvency Service figures, Alexandra Withers, North East chair of inso…
Read the full article at: https://bdaily.co.uk/articles/2021/01/08/north-east-sitting-top-of-uk-personal-insolvency-rate-table-for-twelfth-successive-year
Australian Fashion Labels has entered voluntary administration and is holding urgent talks with a potential buyer, according to administrator Duff & Phelps.
The fashion house, co-founded by Melanie and Dean Flintoff, operates labels BKNR, Finders Keepers, C/MEO Collective, Keepsake and The Fifth Label.
According to Marcus Ayres, partner at Duff & Phelps, the business employees entitlements and salaries are paid, but it will struggle to continue trading without a deal due to an unrevealed level of debt owed to Bendigo and Adelaide Bank, Tigers Logistics and the Federal Governments Export Finance Australia.
This next 48 hours is critical, were pretty clear what the position is. Were trying to lock down all the key suppliers to allow us …
Read the full article at: https://insideretail.com.au/business/australian-fashion-labels-collapses-holding-urgent-talks-with-potential-buyer-202101
Netherlands star Royston Drenthe, who featured for Real Madrid in his prime has finally found a club to play for just weeks after declaring that he is bankrupt.
Still just 33-years-old, Drenthe was declared bankrupt by a Dutch court in December. The Dutchman looked to have a bright future after his stints at Real Madrid and Everton but instead faced a lot of issues in his career.
This led to him giving up on football altogether in 2016. In his two-year break from the game, he tried acting with a role in crime drama Mocro Maffia, and tried to start a music career under the name Roya2Faces.
However, he did make a return to football in 2018 with Sparta Rotterdam in the Dutch second division, and then went on to play for Kozakken Boys in th…
Read the full article at: https://www.90min.com/in/posts/former-real-madrid-winger-completes-transfer-just-weeks-after-declaring-bankruptcy
A steep increase in corporate failures is expected in the coming weeks as debt holidays introduced during COVID-19 come to an end.
In December there were 46 company liquidations and five administrations across Queensland with high profile closures including national lingerie retailer Big Girls Don’t Cry (Anymore), Noosa eatery Madmegs & Co and a key player in the job training sector Job Coaching Australia.
Revive Financial partner Jarvis Archer said a buyer had been found for the Big Girls brand but with the Federal Government’s temporary relief from bankruptcy notices, statutory demands and insolvent trading ending on January 1, the next month would see businesses facing different circumstances.
“These changes coincided with the roll…
Read the full article at: https://www.qt.com.au/news/month-of-misery-as-qld-restaurants-retailers-fail/4169915/
If Schalke don’t beat Hoffenheim at home on Sunday (AEDT), it will tie Tasmania’s league record of 31 consecutive games without a victory from the 1965-66 season – a record Tasmania are very proud of.
Indeed, so proud that they’ve even gone so far as to describe themselves as “historic Bundesliga chokers” on their Twitter page and the “worst Bundesliga club of all time” on their website.
But first things first. Where did the fifth-tierclub, which is based in the south-east Berlin borough of Neukolln, get its unlikely Aussie name?
Nobody knows for sure but the most readily accepted story is that a group of Berliners, who formed the original club back in 1900, were planning to emigrate to the island and named their new club after it.
W…
Read the full article at: https://theworldgame.sbs.com.au/that-s-our-record-schalke-tasmania-desperate-to-stay-germany-s-worst-club
Adelaide-based fashion retailer Australian Fashion Labels has collapsed into voluntary administration, putting 57 jobs at risk as the COVID-19 pandemic continues to put pressure on Australias retail sector.
Marcus Ayres and Brett Lord of Duff and Phelps were appointed as voluntary administrators of the business on Wednesday and are now seeking a buyer or the necessary capital to keep the business viable in the future.
The business, which specialises in affordable luxury apparel, is home to four in-house fashion labels including Finders Keepers, C/MEO Collective, Keepsake and The Fifth, as well as the online retailer Bunker Online.
First and foremost, were trying to save the business and the employees jobs and the outcome of that will…
Read the full article at: https://www.smartcompany.com.au/industries/retail/adelaide-based-australian-fashion-labels-collapses-into-voluntary-administration/
When a young man walked into a payday lender in Tbilisi and took 19 people hostage on November 20, brandishing what appeared to be a rifle and hand grenades, it looked at first glance like a simple robbery.
But the would-be robber, 31-year-old carpenter Levan Zurabashvili, did not ask for money. Instead, he demanded the Georgian government implement several policy changes.
First off, gambling must be banned all across Georgia, Zurabashvili said, as the scene played out on live television. Second: annual interest rates on bank loans must be fixed at no more than 7 percent.
Some of the hostages interrupted, arguing that 7 percent would still be far too high. In the European Union the rate is about 3 percent, one man pointed out.
Can I fin…
Read the full article at: https://eurasianet.org/modern-day-robin-hood-inspires-georgians-drowning-in-debt
KUALA LUMPUR (Reuters) -The parent company of Malaysia Airlines said on Thursday it was nearing the end of a debt restructuring process which it hopes will be completed by the end of the first quarter of this year.
Malaysia Aviation Group (MAG) said it was in talks with around 40 creditors and lessors to take a haircut in its 16-billion-ringgit ($3.99 billion) debt restructuring plan, adding it was confident it could achieve a win-win result for all.
MAG has been in discussions with creditors for months as part of effo…
Read the full article at: https://www.reuters.com/article/malaysia-airlines-restructuring/update-1-malaysia-airlines-debt-restructuring-nears-completion-parent-company-idUSL1N2JI0GZ
China has waived some of the debt owed to it by the Democratic Republic of Congo, to help the central African country overcome the economic fallout from the coronavirus pandemic, Congo’s foreign affairs ministry said on Wednesday.
The ministry did not say how much was forgiven.
The deal was announced during a visit to Kinshasa by Chinese foreign minister Wang Yi.
Beijing has extended loans amounting to $2.4bn to Kinshasa, mainly to build infrastructure, since 2000, according to the China Africa Research Initiative.
China has extended debt relief worth over $2bn to developing under a G20 framework known as the Debt Service Suspension Initiative (DSSI).
Some of the beneficiary countries include Angola, Ethiopia, Zambia and Djibouti.
Wa…
Read the full article at: https://www.africanews.com/2021/01/07/china-waives-congo-debt-to-ease-stress-on-economy/
Editorial Note: Forbes may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations.
If youre paying off high-interest debtespecially credit card debtyou may be familiar with debt consolidation loans. You can use a debt consolidation loan to save money, get out of debt sooner, or lower your monthly payment, but only if you know how to get approved for a debt consolidation loan. Well help you figure it out with this five-step process.
1. Check Your Credit Score
Your chances of getting a debt consolidation loan that works for you are better if you have a good credit score, usually defined as 670 or above by FICO. Generally, the higher your credit score, the better y…
Read the full article at: https://www.forbes.com/advisor/personal-loans/how-to-get-a-debt-consolidation-loan/
NEW DELHI : Two power distribution companies of the Delhi government and Reliance Infrastructure Ltd have been asked to pay 1,864 crore of overdue electricity payments or face corporate insolvency proceedings, according to payment notices.
Aravali Power Company Pvt Ltd (APCPL), a joint venture of state-owned NPTC, Haryana Power Generation Corp Ltd (HPGCL) and Indraprastha Power Generation Co Ltd (IPGCL), have slapped separate payment notices on BSES Rajdhani Power and BSES Yamuna Power for defaulting on payments for the electricity they buy from its Jhajjar plant.
Also Read | The faces behind the farmer revolt
It sought 999 crore from BSES Rajdhani Power Ltd (BRPL) and another 865 crore from BSES Yamuna Power Ltd (BYPL), according t…
Read the full article at: https://www.livemint.com/industry/energy/bses-rajdhani-bses-yamuna-asked-to-clear-1-864-crore-dues-11610019423858.html