Insolvency Guardian Media Centre
This years unique financial challenges call for creative solutions. When it comes to mounting debts, what you need is a debt management plan. These may provide a clear path to financial freedom.
If you are overwhelmed with high interest and have difficulty making timely payments, then it might be time to explore the advantages of debt relief options.
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What are Debt Relief Programs
Debt relief programs help you make payments you can actually afford while also reducing and eventually eliminating the debt owed. Debt relief options include credit counseling or a debt management program, debt consolidation, settlement, and bankruptcy.
The safest and most reliable option to control your spending habit…
Read the full article at: https://usa.inquirer.net/56678/debt-management-plan-2020
LAWRENCE SMITH/Stuff
Former pokies addict Michael Demchy on his struggle with gambling away a fortune in machines. (Video first published in 2018)
Upper Hutt gamblers fed more $10 million into pokie machines over a year but the community got less than 8 per cent of that back from the trusts that run them, the Problem Gambling Foundation says.
But the council is not looking at limiting the number of pokies in the community.
The foundations chief executive officer Paula Snowden has criticised the Upper Hutt City Councils exclusion of a sinking lid policy in its latest draft gambling policy which went out for consultation last month.
The Problem Gambling foundation says the Upper Hutt community fed more than $10 million into po…
Read the full article at: https://www.stuff.co.nz/business/122087837/problem-gambling-foundation-takes-aim-at-councils-pokie-policy
13 July: the retail and hospitality sectors have been among the hardest hit by the lockdown measures. What are the warning signs for employees, suppliers and customers, and what can be done to prevent further closures? Liz Morrell reports.
Although retailers and the hospitality sector may now have mostly reopened, the economic fallout of the COVID-19 crisis means several high-profile brands have already entered administration, with some closing for good. Additional casualties are inevitable.
Understanding insolvency and restructuring in the retail and hospitality sectors was the subject of a webinar hosted recently by ICAEW, in conjunction with PwC insolvency partners Mike Jervis and Zelf Hussain.
The duo, who have worked on businesses …
Read the full article at: https://www.icaew.com/insights/viewpoints-on-the-news/2020/july-2020/understanding-insolvency-and-restructuring-in-retail-and-hospitality
Lower your total cost or monthly payment with better terms and rates (iStock)
You may have debt across several credit cards or haveother forms of debt, like from unexpectedmedical billsor home improvement projects. As interest rates have come down,now could be a good time to take out a personal loan to consolidate your multiple forms of debt into one balance.
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If you decide debt consolidationis the right step, its important to shop around for the best type of personalloan, rates and terms. Fortunately, Credible makes it easy to compare loan rates and companies.
By taking out a personal loan for debt consolidation, you couldlower your monthly payments and total cost by avoiding multiple interest rates and …
Read the full article at: https://www.foxbusiness.com/money/some-of-the-best-debt-consolidation-companies
Sur La Table (“the Company”), the leading retail destination since 1972 for those passionate about cooking and entertaining, today announced that it has filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey (the “Court”) to consummate a restructuring and going-concern sale of the Company, subject to Court approval.
With the support of its lenders, Sur La Table has secured the necessary debtor-in-possession financing to complete the Court process. The Company contemplates the sale of Sur La Table retail stores after the rationalization of its national store footprint and closure of certain stores to prosper in the current retail environment and position the …
Read the full article at: https://au.finance.yahoo.com/news/sur-la-table-restructure-retail-203100943.html
The certainty of energy security in South Africa depends on Eskoms functionality and its operational model, which has reached a tipping point writes Ashley Nyiko Mabasa.
It is the role of the state to ensure that there is energy security in South Africa, particularly amidst the COVID-19 pandemic.
The pandemic has exposed the evils of inequality and poverty, which we only read about in the comfort of our flamboyant suburbs.
Under these circumstances of COVID-19 and the current cold weather, our country cannot afford power cuts.
Read more:
ALERT: Storm makes landfall while loadshedding a high possibility
The government needs to save Eskom, and this can be attributed to one way of forging the struggle against COVI…
Read the full article at: https://www.esi-africa.com/industry-sectors/generation/op-ed-eskoms-straddling-position-towards-ppas-and-ipps-worrisome/
An Australian casino operators bid to reclaim gambling money from a high roller hit a brick wall in a Singaporean court, the Strait Times reports.
The Star Entertainment QLD, a subsidiary of Australian casino operator The Star Entertainment Group, sued Dr. Wong Yew Choy in the Singapore International Commercial Court, seeking a court order to have A$43.2 million Dr. Wong had amassed in gambling debt recovered.
The Star brought the matter to court last March. In a ruling issued earlier this week, International Commercial Court Judge Jeremy Cooke struck down the casino operators claim on public policy grounds.
The judge said that his decision was a necessary concomitant of a public policy which is protective of Singapores interests.
Wha…
Read the full article at: https://www.casinonewsdaily.com/2020/07/10/singapore-court-rejects-the-stars-bid-to-recover-a43-2-million-from-high-roller/
A company associated with five-star Sofitel Auckland Viaduct Harbour has gone into liquidation.
Viaduct Quays Hotel (VQHL) was put into liquidation on Monday, according to the New Zealand Companies Office.
VQHL as leaseholder operated the Sofitel Viaduct Harbour under a Management Agreement with Accor.
Tony Maginness of Baker Tilly Staples Rodway Auckland is now in charge of the business, wholly owned by Richlister Prakash Pandey of the wealthy C.P. Group, which owns a string of hotels in New Zealand under various brands.
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The liquidator is yet to issue an initial report.
The Sofitel Auckland Viaduct Harbour hotel “closed operations and the company ceased to trade prior to the company shareholders voluntary appointm…
Read the full article at: https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12347163
Signage industry supplier Fairview Architectural whichcounted one of controversial outfit Skope Group’s entities, Clear Skies, among its clients is in voluntary administration, as it battles a class action lawsuit.
Administrators are John McInerney and Said Jahani of Grant Thorton in Sydney.
The firm has spent almost $1.5m defending the class action claim brought against it in relation to its aluminium composite cladding, and the cost of continual legal defence threatened the company in the long-term. Fairview believes there was no legal liability on it, but has engaged in good faith settlement negotiations.
Facing such cumulative pressures, …
Read the full article at: https://www.print21.com.au/news/skope-supplier-fairview-into-administration
An Australian casino’s bid to recover an A$43.2 million (S$42 million) gambling debt from a Singaporean high roller here has failed on public policy grounds.
The ruling against Brisbane-based The Star Entertainment QLD underlines the point that Singapore law does not enforce the recovery of monies won on a wager, other than gambling regulated by a statute like the Casino Control Act.
Singapore International Commercial Court judge Jeremy Cooke, in explaining why he struck out the claim taken against Dr Wong Yew Choy, said it was a “necessary concomitant of a public policy which is protective of Singapore’s interests”.
He cited a Singapore Court of Appeal decision in 2002 for his ruling, which found that the claim fell foul of Section …
Read the full article at: https://www.straitstimes.com/singapore/why-casinos-42m-claim-against-sporean-was-struck-out
In a bid to restructure and reshape its business as a more resilient company, Casinos Austria will be looking to save estimated 40 million in costs.
Casinos Austria Announces Restructuring Plans, Takes a Look at Layoffs
Casinos Austria supervisory board announced a new restructuring plan that seeks to save 40 million in costs at the expense of jobs. The plan, dubbed ReFIT, has prompted Casinos Austria chief executive Bettina Glatz-Kremsner to say that the move is one of the most significant steps forward to optimizing the existing operations and bolster results in the companys history.
Ultimately, Glatz-Kremsner and the supervisory board expect to see the operator establish its footprint as the uncontested purveyor of gaming products i…
Read the full article at: https://www.gamblingnews.com/news/casinos-austria-to-restructure-business-in-a-e40m-cost-reducing-plan/
Harley-Davidson (NYSE:HOG) announced its new Rewire strategic plan in April 2020, as the COVID-19 pandemic worsened a business already hit by tariffs and slumping sales. The maker of the iconic brand reported motorcycle segment revenue down 8% in 2019, and shipments down 6.4% versus the prior year.
Today, the company said it was overhauling its global business model to become more nimble and focused. CEO Jochen Zeitz said, “We’ve taken a hard look at our entire setup, our spending, and how work is getting done, to align our operating model, structure, and processes.” The streamlined business will result in $42 million in restructuring costs in the current second quarter and 700 total layoffs, most of which will occur in 2020, the compa…
Read the full article at: https://www.fool.com/investing/2020/07/09/harley-davidson-announces-700-layoffs-in-restructu.aspx