Financial institutions, including banks and non-banks, were invited to discuss terms of repayments at a special multi-mediation session held at Phuket Community Hall in Phuket Town yesterday (June 16).
The event was attended by Phuket Governor Phakaphong Tavipatana together with Vice Governor Phichet Panaphong and Phuket Provincial Office Chief Thalerngsak Nuchprahan.
Governor Phakaphong explained that Phuket has bee…
Read the full article at: https://www.thephuketnews.com/covid-fallout-provincial-government-moves-to-mediate-debt-relief-for-phuket-businesses-76422.php
Less than two years after its high-profile listing, shares in Aston Martin have shed over 95% of their value. Has the brand lost its mojo, or will its corporate restructuring efforts mark the beginning of something special for the luxury car manufacturer?
A pedigree dating back more than 100 years
Formed in 1913, the British independent automotive manufacturer has become a cultural icon synonymous with luxury thanks to its distinguished reputation built over the last century.
With a presence in more than 50 countries, the brand has found an audience far beyond its British pedigree. In fact, in recent years, the company has also begun to diversify its focus from just sports cars and grand tourers to aircraft, submarines, boats, bikes an…
Read the full article at: https://www.livewiremarkets.com/wires/aston-martin-lse-aml-turnaround-in-play-or-an-accident-waiting-to-happen
While I was the head of the Corporate Finance Department at National Finance (now known as Thanachart Bank), I handled many cases of debt restructuring. The largest one was the 20-billion-baht debt of a hospital chain.
Much like Thai Airways, creditors had to determine which has more value: liquidating assets or keeping the business running. I proved to all creditors that keeping a business running was worth more than tearing the company apart. I was right, and that hospital chain is still in business 22 years after the restructuring in 1998.
But the case of Thai Airways is much more challenging than the case of that hospital chain for three main reasons. First, it has zero business since the closure of all Thai airports in April. Even …
Read the full article at: https://www.bangkokpost.com/opinion/opinion/1936796/thai-restructuring-will-not-be-easy
ONE of the regions largest liquidation firms fear waves of insolvency rates will flow on the Sunshine Coast once the government support tap turns off.
Worrells Solvency and Forensic Accountants partner Paul Nogueira said insolvency rates had been down since March due to the Federal Governments lifeline packages which kept businesses afloat.
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He pointed to the Australian Financial Security Authority, which reported personal insolvency statistics from the March quarter had dropped by 15 per cent nationally.
Bankruptcies were also down for the quarter at 6.4 per cent the lowest level since 1990.
Mr Worrells said the firm had been exceptionally quiet since the world went into lo…
Read the full article at: https://www.sunshinecoastdaily.com.au/news/insolvency-rates-to-flow-when-stimulus-tap-turns-o/4039367/
Happy Monday’s legend Bez went into the Celebrity Big Brother house unashamedly admitting he was in it for the money.
The Manchester maraca player had been declared bankrupt months before he signed up to the Channel 4 show and he was determined to use his fee – or even better the winnings – to pay off his mounting tax bills.
After seeing off the competition, Bez was handed a lifeline when the public unanimously voted him the victor of CBB 3.
On leaving the house a chuffed Bez told host Davina McCall: “Now I can just pay my bills and walk straight with no stress.
“I was in a great deal of trouble. Now I’m bailed out and I’m forever grateful.”
Read the full article at: https://www.mirror.co.uk/3am/celebrity-news/how-bez-won-50k-cbb-22206601
An instantly recognisable star of what might be termed the golden age of snooker, Willie Thorne, has died aged 66 after suffering from leukaemia. With his bald head, magnificent moustache and standing 6ft 2in tall, he became popular when television took up the sport in earnest. But for all his natural brilliance as a player, major tournament successes remained largely elusive, and an addiction to gambling accounted for much of his wealth and contributed to a sometimes chaotic personal life.
To watch Thorne in practice back in the 1980s, a period when he was ranked as one of the worlds best, it was difficult to understand how he ever lost a match. His ability to build breaks with almost nonchalant ease was extraordinary. At a time when reg…
Read the full article at: https://www.theguardian.com/sport/2020/jun/17/willie-thorne-obituary