Insolvency Guardian Media Centre
Susie Jones gives her personal account on the financial and emotional pressures of living with somebody with a gambling addiction, how lockdown has accentuated many of the behavioural triggers, and the steps people can put in place to combat the behaviour
There is a familiar formula that most stories about gambling addiction follow when you read them in the national media. So often the focus is on how much money a person lost, how much debt they are now in, and how many years it could take to pay it off. But this overlooks the most damaging impact of gambling addiction, which is the emotional toll it takes.
Itssomething that I have experienced first-hand. My fiancs last bet was two years ago, but gambling addiction and th…
Read the full article at: https://www.openaccessgovernment.org/the-mental-and-physical-impacts-of-living-with-a-gambling-addict/92759/
Eleanor Temple, chair of the insolvency and restructuring trade body R3 in Yorkshire and a barrister at Kings Chambers in Leeds, comments on todays publication of the July corporate and personal insolvency statistics:
The month-on-month rise in corporate insolvencies in July is largely down to an increase in administrations, Compulsory Liquidations, and Creditors Voluntary Liquidations (CVLs). Although overall numbers remain low in comparison to the same time last year, this uptick could suggest that the pandemic might now be starting to be seen in the insolvency figures.
On the personal insolvency side, this months decrease has been driven by a reduction in the number of Debt Relief Orders (DROs), and Individual Voluntary Arrangement…
Read the full article at: https://www.businessupnorth.co.uk/corporate-and-personal-insolvency-figures-from-july-r3-response/
Since the adoption of The Gambling Act 2005, there havent been any significant changes in the UK legislation regarding gambling. Yet, beginning in 2019, a tangible move towards over-regulating the market began with the introduction of fixed-odds betting terminal (FOBT) limits.
During the last two decades, the market was flooded with online gambling operators. The abundance of casino platforms offers a great advantage to gambling enthusiasts because they can choose one that fits their needs.
Online casinos make it easier to enjoy your favorite slots or table games because all you need is a device that can connect to the Internet. However, choosing the right platform can be a daunting task because you cant be sure that you picked correct…
Read the full article at: https://www.gamblingnews.com/news/major-changes-enacted-in-the-uk-gambling-market-in-2020/
Banks may put in place board-approved policies to deal with stressed loans to individuals. (File)
As the regulator and the banks now await for the KV Kamath-led panel to come out with the modalities of restructuring of loans for both corporates and individuals, sources in the government and industry say that the Reserve Bank of India (RBI) may not extend the moratorium period for loans, that comes to an end on August 31.
Banks may put in place board-approved policies to deal with stressed loans to individuals. Besides, while there have been suggestions that the current proposal of allowing restructuring for loans that are overdue for up to…
Read the full article at: https://indianexpress.com/article/business/banking-and-finance/as-loan-restructuring-plan-takes-shape-moratorium-unlikely-to-stay-beyond-august-31-6558886/
- Outstanding Australian student debts could fall on their own this year, if the economy continues to decline.
- The nations HECS-HELP debt is fixed to the growth in the consumer price index (CPI), which fell by its largest margin in more than 70 years in June.
- If the next three quarters dont erase the fall, outstanding HECS-HELP debts will automatically reduce.
- However, the resulting deflation would have far reaching negative implications for the Australian economy that would dwarf the benefit of reduced student debt.
- Visit Business Insider Australias homepage for more stories.
The nations former students could be in for a tiny bit of debt relief as Australia wrestles with a prolonged recession.
Many are accustomed to seeing their deb…
Read the full article at: https://www.businessinsider.com.au/hecs-help-student-debt-reduce-coroanvirus-australia-2020-8
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Source Investopedia
Do you have a huge amount of debt hanging over your head at the moment? If so, you might feel hopeless when it comes to paying it down and eventually paying it off.
But you should know that you can get help with debt. Whether you have credit card debt, gambling debts, or some other type of debt, you might be able to benefit from using whats called loan consolidation.
Learn about how debt consolidation works below so that you can decide if its the right option for you.
It Puts All Your Debt Together Into One Big Pile
The average American hasalmost $40,000worth of personal debt at this time. But they dont typically have all that debt tied up in one ac…
Read the full article at: http://socialbarrel.com/need-help-with-debt-debt-consolidation-could-be-the-answer/126255/
Residents at Mount Providence Village aged care facility have been told to leave following the organisation’s announcement it has gone into liquidation. The news comes just 30 months after the venture began, with COVID-19 and a shortage of public support being suggested for the facility’s lack of success. The company which owns Mt Providence, New Aged Projects No.2 Pty Ltd – still directed and owned by Dylan Walsh, has appointed SV Partners as liquidator. KordaMentha are now the receiver and manager, after they were appointed by Zagga Investments, who are the secured lender of the asset. Given two month’s notice to leave, residents claim they were left in the dark about the facility’s operations. Mr Walsh has moved to reinsure those …
Read the full article at: https://www.muswellbrookchronicle.com.au/story/6881614/elderly-evicted-from-mt-providence/?cs=1487
On Friday 14th August, the firms auditors, Deloitte Touche Tohmatsu Jaiyos, declined to sign off on the airlines accounts to June 30th citing concerns about financial liquidity, debt defaults and the ongoing losses of the venture as reasons. It comes as the airline industry association IATA points to government support for national airlines worldwide facing $84 billion in losses this year. The body only sees things recovering in 2022 and 2023 in its most optimistic assessment. At Mondays hearing, the acting President of Thai Airways, Mr Chansin Treenuchagron, did promise some relief for disgruntled customers waiting for refunds in respect of flights paid for but later cancelled.
The steep incline of the challenge to save Thai Airways l…
Read the full article at: https://www.thaiexaminer.com/thai-news-foreigners/2020/08/18/thai-airways-shares-slump-bangkok-court-hearing-dates-consider-restructuring-plan/
Philip Winterborne, chair of insolvency and restructuring trade body R3 in Wales and a partner at Temple Bright solicitors, comments on the recent publication of the July corporate and personal insolvency statistics:
The month-on-month rise in corporate insolvencies in July is largely down to an increase in administrations, Compulsory Liquidations, and Creditors’ Voluntary Liquidations (CVLs). Although overall numbers remain low in comparison to the same time last year, this uptick could suggest that the pandemic might now be starting to be seen in the insolvency figures.
On the personal insolvency side, this months decrease has been driven by a reduction in the number of Debt Relief Orders (DROs), and Individual Voluntary Arrangemen…
Read the full article at: https://businessnewswales.com/pandemic-is-starting-to-affect-corporate-insolvency-levels/
Residents at Mount Providence Village aged care facility have been told to leave following the organisation’s announcement it has gone into liquidation. The news comes just 30 months after the venture began, with COVID-19 and a shortage of public support being suggested for the facility’s lack of success. The company which owns Mt Providence, New Aged Projects No.2 Pty Ltd – still directed and owned by Dylan Walsh, has appointed SV Partners as liquidator. KordaMentha are now the receiver and manager, after they were appointed by Zagga Investments, who are the secured lender of the asset. Given two month’s notice to leave, residents claim they were left in the dark about the facility’s operations. Mr Walsh has moved to reinsure those …
Read the full article at: https://www.muswellbrookchronicle.com.au/story/6881614/elderly-evicted-from-mt-providence/
Pizza Hut operator NPC International, which declared bankruptcy in July, reached an agreement with the pizza chain to permanently close up to 300 stores.
NPC entered bankruptcy with more than 1,200 Pizza Hut locations. Most of the potentially closing units are dine-in, which is in line with Pizza Huts ongoing strategy to move toward off-premises. The operator said no decisions have been made about which restaurants will close or the timing of the shut downs.
The agreement with Pizza Hut follows an extensive analysis that the parties conducted of its entire Pizza Hut portfolio to best position NPCs Pizza Hut business for long-term success, and has the support of the ad hoc group of NPCs first lien lenders, NPC said in a statement.
The …
Read the full article at: https://www.qsrmagazine.com/finance/bankrupt-pizza-hut-operator-npc-close-300-stores
[Opinion column written by Shadow Legal Affairs Minister Scott Pearman]
How are you with multiple-choice? Try this one: which of the following things is the biggest threat facing Bermuda? Is it:
- [A] Bermudas flat-lining economy;
- [B] The COVID-19 global health pandemic;
- [C] Bermudas eye-watering Government debt [with newly increased ceiling of $3.5 billion]; or
- [D] Bermudas new airport?
Given recent statements, you could be forgiven for thinking the PLPs answer might be [D]. We are in economic freefall, yet the PLP want to focus your attention on Bermudas new airport. Why?
Its a bit like that song from Sesame Street. Do you remember it? One of these things is not like the others; one of these things just doesnt belong
We have a…
Read the full article at: https://bernews.com/2020/08/column-multiple-choice-airport-gambling-more/