Financial crimes arent the only negative effects of problem gambling. It shatters relationships and destroys families. Time and money spent gambling can wreck a marriage or lead to child neglect. The financial pressure of gambling losses can also motivate domestic violence or child abuse. Additionally, the stress of gambling debt may trigger anxiety, depression, and behavioral health disorders.
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.
University students who flunk half of their first-year subjects could lose financial support under a federal government proposal to curb soaring debts. The government is targeting students who amass debts by over-enrolling in subjects, sometimes at multiple institutions. Universities will have to make greater efforts to assess academic suitability for selected courses and monitor students’ ongoing progress. Education Minister Dan Tehan claims six per cent of university students fail all of their first year subjects. “What we don’t want is students enrolling in courses and then doing subjects which they’re clearly not prepared for, or don’t have the right attitude to complete, and they’re failing,” he said on Thursday. Under the prop…
Read the full article at: https://www.greatlakesadvocate.com.au/story/6876760/failing-students-could-lose-financial-help/?cs=9397
While Aussie businesses are making small strides towards recovery, new data reveals many continue to struggle with overdue debt.
Figures from digital credit agency CreditorWatch released this week show that fewer businesses defaulted on credit last month – Julys default figure was 13% lower than in June. July also saw companies take a shorter time to repay any money owed, with an average 8% decline in payment times recorded across the board.
But CreditorWatchs chief executive officer, Patrick Coghlan said these signs of improvement are modest at best. For one, payment times were still a staggering 224% higher last month than in July 2019.
While at first glance, a decrease in business administration, defaults and payment times seems to in…
Read the full article at: https://mozo.com.au/business-banking/articles/debt-relief-small-business-recovery-remains-slight
The claim
Both the Coalition and Labor have in the past argued that paying off Commonwealth debt is a benchmark of economic success in Australian politics.
But Treasurer Josh Frydenberg recently warned Australians that his July budget update was going to contain “eye watering numbers around debt and deficit”, saying: “The coronavirus has required the Government to spend unprecedented amounts of money to support people in need”.
The following day, in an interview with ABC News Breakfast, shadow treasurer Jim Chalmers said the Government must not be allowed to “pull a swiftie” by pretending the red ink in the budget was a consequence of the virus when the vast majority of the debt had piled up beforehand.
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“Something like two-thirds of t…
Read the full article at: https://www.abc.net.au/news/2020-08-13/fact-check-budget-debt-coronavirus-pandemic/12545628
University students who flunk half of their first-year courses could lose financial support under a federal government proposal to curb soaring HELP debts. The government has its sight set on students who amass debts by over-enrolling in subjects, sometimes at multiple institutions. Universities will have to make greater efforts to assess academic suitability for selected courses and monitor students’ ongoing progress. “These measures will ensure students can’t take on a study load they won’t complete, leaving them without a qualification but a large debt,” Education Minister Dan Tehan said on Thursday. “The lack of transparency of a student’s enrolment has allowed some non-genuine students to enrol and re-enrol at multiple providers…
Read the full article at: https://www.yasstribune.com.au/story/6876760/failing-students-to-lose-financial-help/?cs=9397
If youve ever gambled, its a near certainty that youve suffered plenty of crushing losses. A dramatic last second layup that leaves you one-point shy of covering, that garbage time touchdown that pushes it from the under to the over, the dealer somehow getting a blackjack on your biggest handthe list goes on.
If you feel like youve been a victim of bad betting karma, you arent alone. In this article, Ill lay out 5 examples of betting losses that will help you feel better about your own.
1 The GOAT Goes Down
Michael Jordan is undoubtedly (sorry, LeBron people) the greatest basketball player of all-time. His relentless competitiveness was an invaluable asset for his game throughout his career. Unfortunately, this same competitive spirit…
Read the full article at: https://www.bestuscasinos.org/blog/5-betting-losses-that-will-make-you-feel-better/
Jason Kilar
Kilar already had the power, but the restructuring was his first major display of it after taking the CEO job in May.
His move to simplify the legacy studio’s sprawling media empire undid some key appointments by his predecessor and current boss, John Stankey, who runs AT&T. For instance, Kilar dismissed former WarnerMedia Entertainment and Direct-to-Consumer chairman Bob Greenblatt, who was Stankey’s first splashy hire when he took control of WarnerMedia after it was bought by AT&T.
Kilar reigns over the Warner Bros. TV and film businesses; cable networks like CNN and HBO; entertainment brands like DC Entertainment and Turner Sports; and ad-tech arm, Xandr.
He’s been pushing the organiza…
Read the full article at: https://www.businessinsider.com/warnermedia-execs-whose-power-expanded-during-shakeup-restructuring-2020-8
Wednesday, August 12, 2020
A comparison of the new Dutch Scheme and the new UK Restructuring Plan.
Introduction
The European restructuring landscape continues to evolve with the recent introduction of a new restructuring procedure (UK Restructuring Plan) into the United Kingdoms restructuring tool kit. The UK Restructuring Plan was enacted as part of the Corporate Insolvency and Governance Act 2020 (CIG Act) which became effective on 26 June 2020; it is closely based on the UK scheme of arrangement procedure (UK Scheme) which debtors in the UK and abroad have utilised to restructure their financial indebtedness for decades.
On the same day, the Dutch Senate prepared its preliminary report on the Act on the Confirmation of Private Plans …
Read the full article at: https://www.natlawreview.com/article/new-european-restructuring-landscape
Summary
- There are specific industries which have been significantly hit by the crisis, such as the aviation industry, the travel, tourism and leisure and the hospitality sector
- British Airways will be undertaking restructuring plans to survive the crisis
- The company has entered into an agreement with unions which covers engineers and Heathrow staff, but not the cabin crew
The impact of Covid-19 pandemic has not only taken a toll on people’s health and lives but has also destructed businesses and hampered employment as well, resulting in a sharp slowdown of the economy. The British economy has been witnessing contraction of the business activities coupled with the rise in the fiscal deficit. There are specific industries which have …
Read the full article at: https://kalkinemedia.com/uk/news/stock-market/what-has-led-british-airways-to-plan-restructuring
From building credit histories to being a lifesaver in emergencies, a credit card can be used for a number of reasons. And in some circumstances, having more than one can provide spending flexibility and freedom.
But is owning multiple credit cards a recipe for financial disaster or a clever way to get more bang for your buck? Well tell you what you need to know.
Why would someone own multiple credit cards?
While it might seem dangerous to own more than one credit card, it is a common practice among many Aussies. Some reasons a person might take out multiple credit cards include:
- To take advantage of a 0% purchase rate
- To earn more rewards points
- To pay off previous debt with a 0% balance transfer card
- To avoid foreign transaction fees …
Read the full article at: https://mozo.com.au/credit-cards/articles/having-multiple-credit-cards-financial-freedom-or-debt-disaster
MORE than two-fifths of debt experts questioned by insolvency and restructuring trade body R3 believe that personal insolvency numbers will increase significantly in the next 12 months.
Over eight in ten respondents to an R3 survey of its members who work in personal insolvency said they expected the numbers of cases to increase within the next 12 months, with 41.6 per cent of respondents expecting them to be significantly higher than last year.
A further 44.5 per cent expect personal insolvency numbers to be somewhat higher than 2019, while 74.2 per cent say that personal debt relating to business failure is likely to be the most common trigger for personal insolvencies arising.
Half, 50 per cent, said credit card debt was likely to be …
Read the full article at: https://www.thenorthernecho.co.uk/business/18646331.north-east-personal-insolvency-increase-significantly-according-research/
A former Ferrari-driving businessman has declared bankruptcy after his four companies collapsed within eight months owing about 200 creditors $13 million.
Sunshine Coast businessman Gordon Smith, who last year promoted his investment company as being “solid as a rock”, is unable to pay back the creditors of his four property development and wealth businesses, liquidators’ reports note.
Omnia Lifestyle Group Pty Ltd, Omnia Group Pty Ltd, NRG Concepts Pty Ltd and Omnia Property Pty Ltd collapsed between May 30, 2019 and February 21 this year.
Omnia Group Pty Ltd director Gordon Smith.
The four companies collectively owe 197 creditors $13.05 million.
Now, the liquidator combing through the wreckage of the Omnia Property and NRG Conc…
Read the full article at: https://www.qt.com.au/news/13m-owed-ferrari-driving-businessman-declares-bank/4075324/
Problem gamblers also hurt our communities when they commit crimes like embezzlement, forgery, and theft to finance their addiction. For example, in 2012 a Nebraska State Senator pled guilty to illegally spending campaign funds at casinos in Kansas. In 2016 a Lincoln pharmacist was sentenced to nine years in prison after defrauding Nebraskas…
Read the full article at: https://fremonttribune.com/print_specific/ragged_right/ricketts-no-gambling-in-the-good-life-for-a-good-reason/article_12c87991-0a5c-586a-a0b5-59857f08a9f0.html