GRFH has been marked as a key area of concern by GamCare, working with diverse stakeholders to better identify problematic consumer behaviours, whilst improving support for those who are enduring financial hardships caused by gambling.
In 2019, GamCare brought together banks, debt advice organisations, gambling support serv…
He handed over a blank check in exchange for AUD 40 million in gambling chips, which he …
LAW firm Hogan Lovells on Tuesday announced that Nick Williams will be joining as a partner in its business restructuring practice, to be based in its Singapore office.
The firm described him as a leading figure in Singapore’s cross-border restructuring and insolvency market. He has represented banks, financial institutions, hedge funds, private equity investors, insolvency accounting firms as well as corporate creditors and debtors.
Mr Williams is also experienced in investigations, commercial disputes and international arbitration.
He was previously a partner at K&L Gates Straits Law, going by The Business Times’ checks. There, he worked across the practice groups of restructuring and insolvency, investigations, enforcement, commerc…
A prominent Adelaide hotels syndicate that did secret deals with major breweries over access to an Adelaide pub’s beer taps has fallen into liquidation.
In May, the Supreme Court ordered Bloody Mary Group directors Brett Viney and Matthew Mitchell to pay $383,000 to their former Windmill Hotel business partners, Michael and Nicholas Crouch.
SINGAPORE: Singapore banks will extend debt relief for individuals and small-to-midsized businesses beyond the end of the year to support borrowers hardest hit by the coronavirus pandemic.
The measures, set to expire on Dec 31, will now progressively end over 2021, the Monetary Authority of Singapore (MAS) said in a statement. The extended programme will be tiered so those businesses needing the most help such as aviation and tourism can defer 80% of their principal repayment…
Read the full article at: https://www.thestar.com.my/business/business-news/2020/10/06/singapore-banks-to-extend-debt-relief-for-struggling-borrowers
WASHINGTON, Oct. 5 (Xinhua) — The Executive Board of the International Monetary Fund (IMF) has approved a second six-month tranche of debt service relief for 28 low-income countries amid the COVID-19 pandemic.
“Relief on debt service will free up scarce financial resources for vital emergency medical and other relief efforts while these members combat the impact of the COVID-19 pandemic,” the IMF said Monday in a statement, adding this move follows the first six-month tranche of debt service relief approved in April under the so-called Catastrophe Containment and Relief Trust (CCRT).
The latest approval would enable the disbursement of grants from the CCRT for payment of eligible debt service falling due to the IMF …
Read the full article at: http://www.xinhuanet.com/english/2020-10/06/c_139421682.htm
STA Travel has been using New Zealand customers’ deposits for overseas holidays to cover company wages and office rent. Photo: File / Getty Images
Additional funding may be required to try and recover creditor claims in the liquidation of budget travel agent STA Travel, which shut down owing more than $11 million.
Liquidators from Deloitte, David Webb and Colin Owens, said investigations were required to establish the standing of customer refunds with airlines and third-party suppliers and identify any assets that could be realised for the benefit of creditors.
“Some of these ongoing investigations and actions may require liquidation funding due to the lack of funds held by, or due to, the company,” they said in their first report.
A…
Read the full article at: https://www.odt.co.nz/star-news/star-lifestyle/star-travel/liquidators-may-require-funding-untangle-sta-travel-claims
Greek community group, The Order of the Australian Hellenic Educational Progressive Association (AHEPA) NSW Inc has gone into voluntary administration owing approximately $3 million to creditors. Michael Hird and Alan Walker of Cor Cordis have been appointed as administrators. The amount owed relates primarily to legal fees and also for consulting fees connected to a proposal to redevelop the Bexley Bowling Club, Mr Hird said. AHEPA planned to demolish Bexley Bowling Club in Laycock Street, Bexley North to build a new two-storey registered community club under a $7.43 million proposal. AHEPA NSW took over the 21-year lease of the bowling club site in 2016 after the former Rockdale Council accepted its tender. The organisation offers comm…
Read the full article at: https://www.theleader.com.au/story/6956693/future-of-bexley-bowling-club-site-in-doubt-as-community-group-goes-into-adminstration/?cs=1507
Thanakorn Komkris, secretary of the Stop Gambling Foundation (SGF). Photo: Thai Health Promotion Foundation
Tik Kanitsarin — a well-known TV personality and participant of Big Brother in 2006 — accumulated great debts after stepping into the world of online gambling, a habit that has turned her life upside down.
Tik became addicted to baccarat, a type of card game typically played in casinos. However, she is not the only person to lose money while gambling. In fact, the problem is so severe that there is a Facebook page by the name of “Quit Baccarat: Online Gambling”, which serves as a support group for its 31,000-strong members to help online gamblers quit their unhealthy habit.
According to Chulalongkorn University’s Centre for …
Read the full article at: https://www.bangkokpost.com/life/social-and-lifestyle/1997367/easy-to-get-in-hard-to-get-out
Borrowers in mortgage arrears to gain vital court protection
Published 5 October 2020
Helen McEntee Borrowers falling into home mortgage arrears due to an unforeseeable loss of income will gain vital court protection under new legislation announced today.
Justice Minister Helen McEntee has secured government approval for priority drafting of the short but urgent Personal Insolvency (Amendment) (No. 1) Bill in light of the Covid-19 pandemic and its effect on jobs.
Under the bill, insolvent homeowners will have the right to seek review by a court if their mortgage lender or other creditors refuse a reasonable proposal for a personal insolvency arrangement.
This is already an option under the Personal Insolvency (Amendment) Act 2015 f…
Read the full article at: https://irishlegal.com/article/borrowers-in-mortgage-arrears-to-gain-vital-court-protection
NEW YORK (PRWEB) October 05, 2020
Morrison & Foerster , a leading global law firm, is pleased to announce that Theresa Foudy has joined the firm as a partner in its Business Restructuring + Insolvency Group (BRIG) in New York. Recognized as one of the leading bankruptcy litigators in the United States, Ms. Foudys arrival further reinforces the firms market-leading BRIG practice and further expands the firms premier litigation capabilities. Further, the addition of Ms. Foudy underscores the continued expansion of Morrison & Foersters New York office. She is the sixth partner to join the office since the start of the year, following in the footsteps of David Fertig , Haima Marlier , Mitchell Presser , Leonora Shalet , and Omar Pringle .
Ov…
Read the full article at: https://www.prweb.com/releases/accomplished_bankruptcy_litigator_theresa_foudy_joins_morrison_foerster_s_leading_business_restructuring_insolvency_group/prweb17444571.htm
