Insolvency Guardian Media Centre
The court documents have revealed that businessman Wong Yew Choy visited Queensland Casino on July 26. Before departure, he was supposed to pay his A$43.2 million ($30.6 million) debt but did no such thing, claiming that during his stay, dealers made mistakes which werent specified. Star Entertainment QLD is ready to pursue this matter to collect the debt. On the other hand, Wong Yew Choy is telling his own version of the story which doesnt correspond to their allegations. This is believed to be the greatest gambling debt, handled through court proceedings in Singapore.
Two Sides to the Story
There is nothing out of the ordinary about high rollers having extended time for settling their debts. This case was no different, and after playi…
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PayPal has been accused of allowing compulsive gamblers tospend up to 150,000per day, which prompts concerns that gambling addicts are utilizing PayPal to get around the limits established by traditional banks.
MPs and gambling experts called for PayPal to exercise more responsibility to stop gamblers from accruing colossal debtthat could force them into bankruptcy.
The Department of Digital, Culture, Media, and Sport (DCMS)stated that the Gambling Commission could consider payment providers in its review of gambling with credit cards.
Psychiatrist and founder of the NHSs only specialist gambling clinicHenrietta Bowden-Jones, stated: The first time I ever heard about a gambler using PayPal to pay for online gambling occurred about two weeks…
Read the full article at: https://www.usaonlinecasino.com/casino-news/problem-gamblers-using-paypal-to-gamble-legally/
Daily News
16 April 2019
Specialist technology staffing company Parity Group (PTY: LSE) reported revenue for the year ended 31 December 2018 of 86.1 million, an increase of 2.7% compared with the same period last year.
Adjusted pre-tax profit decreased by 48.7% to 850,000 last year due to costs related to the delay and subsequent loss of a Ministry of Defence contract for Parity Consultancy Services. The delay and subsequent loss of the contract also impacted operating profit which decreased by 64.8% in 2018.
The group had earlier issued a profit warning in November 2018 over the delay of the contract.
| ( millions) | FY 2018 | FY 2017 | Change |
| Revenue | 86.1 … Read the full article at: https://www2.staffingindustry.com/eng/Editorial/Daily-News/UK-Parity-Group-revenue-rises-in-2018-but-loss-of-contract-hits-profits-49646 New Delhi: Opening up a new window for promoters looking to retain control of their companies facing bankruptcy proceedings, the National Company Law Appellate Tribunal (NCLAT) has held that shareholders and owners can reach a settlement with creditors when their entity is under liquidation and an official liquidator has been appointed by the insolvency court. The NCLAT order has far reaching consequences over resolution of stressed assets, especially those where promoters are seeking settlement post-initiation of bankruptcy proceedings in the National Company Law Tribunal (NCLT). As per amendments made to the Insolvency and Bankruptcy Code (IBC), promoters are barred from participation in the resolution process of their stressed assets… Read the full article at: https://www.livemint.com/news/india/nclat-allows-promoters-under-liquidation-settle-with-creditors-1555410647435.html Gazprom has begun buying natural gas from Turkmenistan after a three-year pause, under a 25-year contract signed in 2003 and suspended in 2016. Until 2010, Russias gas giant was the biggest buyer of Turkmen gas, Reuters recalls in its report on the story, adding that this was the year when Turkmenistan began exporting gas to China. This must not have sat well with Gazprom, for whom China is a major target market, so the company began reducing its intake of Turkmen gas. However, the exports to China were not the biggest problem. In 2015, Turkmengaz, Gazproms counterpart in Turkmenistan, accused the Russian company of owing payments for gas deliveries. It even declared Gazprom insolvent, to which the Russian major responded with a… Read the full article at: https://oilprice.com/Latest-Energy-News/World-News/Why-Gazprom-Just-Resumed-Purchases-Of-Turkmen-Gas.html
Accomplished Research on Debt Settlement Market Growth 2019-2025:This is an excellent research study specially compiled to provide the latest insights into critical aspects of the Debt Settlementmarket. The report includes different market forecasts related to market size, production, revenue, consumption, CAGR, gross margin, price, and other key factors.It is prepared with the use of industry-best primary and secondary research methodologies and tools. Each segment of the global Debt Settlement Market is extensively evaluated in the research study. The segmental analysis offered within the report pinpoints key opportunities on the market within the Debt Settlement market through leading segments.The regional study of the globa… Notice along with Agenda and Notes to Agenda for the 8th Meeting of the Committee of Creditors of Southern Online Bio Technologies Limited (under Corporate Insolvency Resolution Process) under the provisions of The Insolvency and Bankruptcy code, 2016 read with Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. Day & Date: Wednesday 17th April, 2019, Time: 5.00 P.M Venue: Bank of India, Telangana Zonal Office, PTI Building, 2nd Floor, A.C. Guards, Hyderabad – 500004 Thanking You, Pdf Link: Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/southern-online-bio-technologies-ltd-corporate-insolvency-resolution-process-cirp-intimation-of-meeting-of-committee-of-creditors/article26855122.ece Water treatment firm Hyflux has filed a lawsuit against Indonesias SM Investments in the Singapore High Court, saying that the investor has repudiated on the rescue deal. The lawsuit was also filed to claim the S$38.9 million deposit. The lawsuit follows after Hyflux called off the rescue deal from SM Investments earlier this month on claims that the investor has repudiated the restructuring agreement. Due to the removal of the rescue deal, then scheduled scheme meetings for investors, creditors, and stakeholders were also cancelled. In a filing on the Singapore Exchange on Monday after trading hours, the firm announced that SM Investments has denied that it has repudiated the restructuring agreement and Hyflux has filed a writ of summo… Read the full article at: https://www.ig.com/au/news-and-trade-ideas/shares-news/hyflux-sues-sm-investments-over-aborted-bailout-190416 FARMERS in Australia operate in a highly variable environment, and agriculture is considered the most volatile sector in the Australian economy. In fact, the volatility of the agricultural industry is nearly double that of any other industry in the country. With variability and volatility comes risk. Unfortunately, in life, there is rarely a reward without taking a degree of risk. In farming, risk is an essential part of generating income. Managing risk is about making business decisions that exchange some level of tolerable risk for some degree of acceptable return. Decisions can be made to decrease risk, but that can often result in lower revenues. To effectively manage risk in their business, grain producers need to understand both the … Read the full article at: https://www.queenslandcountrylife.com.au/story/6055886/insolvencies-highlight-credit-insurance-benefits-grain-brokers-australia/?cs=4699 Two UCLA law professors helped broker a deal that will bring financial relief to Puerto Rico. Law professors Kenneth Klee and Daniel Bussel have been working on restructuring Puerto Ricos debt since 2017 and finalized the deal in February. Puerto Rico had accumulated $72 billion in aggregate debt as of 2016, Bussel said. Klee said Puerto Ricos poor economic condition is a product of the islands history as a territory of the United States. During the 1960s and 1970s, various industries set up operations in Puerto Rico due to U.S. tax incentives, Klee said. However, former President Bill Clintons administration later repealed these incentives, which led these businesses to migrate out of Puerto Rico. As a result, Puerto Rico had to find w… Read the full article at: https://dailybruin.com/2019/04/15/law-professors-help-puerto-rico-address-debt-aim-to-alleviate-financial-pressures/ FARMERS in Australia operate in a highly variable environment, and agriculture is considered the most volatile sector in the Australian economy. In fact, the volatility of the agricultural industry is nearly double that of any other industry in the country. With variability and volatility comes risk.
To effectively manage risk in their bu… Read the full article at: https://www.graincentral.com/markets/recent-insolvencies-highlight-the-benefits-of-credit-insurance/ FARMERS in Australia operate in a highly variable environment, and agriculture is considered the most volatile sector in the Australian economy. In fact, the volatility of the agricultural industry is nearly double that of any other industry in the country. With variability and volatility comes risk. Unfortunately, in life, there is rarely a reward without taking a degree of risk. In farming, risk is an essential part of generating income. Managing risk is about making business decisions that exchange some level of tolerable risk for some degree of acceptable return. Decisions can be made to decrease risk, but that can often result in lower revenues. To effectively manage risk in their business, grain producers need to understand both the … Read the full article at: https://www.queenslandcountrylife.com.au/story/6055886/insolvencies-highlight-credit-insurancebenefits-grain-brokers-australia/?cs=4698 Go to Top Call Now Button |
Unfortunately, in life, there is rarely a reward without taking a degree of risk. In farming, risk is an essential part of generating income. Managing risk is about making business decisions that exchange some level of tolerable risk for some degree of acceptable return. Decisions can be made to decrease risk, but that can often result in lower revenues.