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Bad debt
Is debt youve incurred for items that will depreciate in value, or experiences which made you feel good at the time but now you only have the Instagram feed to show for it.
Its credit card debt, personal loans, store cards, “buy now pay later” providers, s…
Read the full article at: https://www.smh.com.au/money/planning-and-budgeting/not-all-debts-are-created-equal-20190422-p51g5d.html
- Problem gamblers burns over $382,000 in a single session
- She was continually egged on to continue playing, offered various bonuses
- The UKGC is investigating the case now
An online casino
player has lost 125,000 with LeoVegas and Casumo, claiming that the iGaming
operators have purposefully overlooked her signs of addiction and proffered
bonuses instead.
A Problem Gambler Blows 383,000 in a Single Session
Problem gambling in the United Kingdom is a serious issue. With the UK Gambling Commission (UKGC) ever so vigilant,
the case of Katie, 42, strikes as a reminder of how easily
things can spiral out of control. She lost 125,000
playing at LeoVegas and Casumos digital skins.
Instead of being weened off, she was of…
Read the full article at: https://www.gamblingnews.com/news/gambler-accuses-leovegas-and-casumo-of-feeding-her-addiction/
In January of 2013, Netflix Chief Content Officer Ted Sarandos astutely laid Netflixs content strategy on the table for all to see. The goal is to become HBO faster than HBO can become us, Sarandos said. He also added that Netflix, in stark opposition to networks that cant help but micromanage every single aspect of the production process, would shy away from giving notes and would give content creators full-season commitments.
The idea that they wouldnt just pull the plug midway was totally thrilling, Orange Is the New Black creator Jenji Kohan said at the time. Its similar to a pay-cable model but even more liberating. This is the future.
Sarandos statement about wanting to become HBO is all the more remarkable given tha…
Read the full article at: https://bgr.com/2019/04/23/netflix-originals-funded-by-debt-offering/
A forensic audit of 200 top companies by the Ministry of Corporate Affairs has detected irregularities to the tune of Rs 1 lakh crore, including diversion of funds. Most of these companies have been referred to insolvency and resolution proceedingsunder the Insolvency and Bankruptcy Code. Irregularities detected in some top companies point to the collapse of corporate governance structures leading to liquidity stress in these entities. In plain terms, companies boards have allowed irregularities to happen knowingly while businesses suffered, investors lost money and bank loans remained unpaid.
Forensic audits aimed of companies balance sheets to detect data that confirm fraud and irregularities provide a peek into the dirty world of corp…
Read the full article at: https://www.deccanherald.com/opinion/first-edit/corporate-india-s-dirty-secret-730321.html
TWO Sunshine Coast supermarkets have closed after the business went into liquidation just before the Easter long weekend.
The Kawana Island Friendly Grocer and Forest Park Foodstore at Meridan Plains have been listed on the Australian Securities and Investments Commission as in liquidation.
The company behind the stores, Yasnis Pty Ltd, is owned by Himanshu Patel, who moved to the Sunshine Coast from India in 2011 to make a better life for himself, his wife and two sons.
On Thursday, April 18, it was decided the company would be wound up after a general meeting, according to ASIC.
Mr Patel told the Daily in 2013 that the Kawana Island business was being harassed by out-of-control youths who taunted him with racist remarks …
Read the full article at: https://www.frasercoastchronicle.com.au/news/two-coast-supermarkets-shut-doors-after-company-go/3709267/
Netflix is raising another $2 billion in debt to fund its content spending and other expenses, the company announced this morning. The news comes ahead of the launches of new streaming service competitors from Disney, Apple, and AT&Ts WarnerMedia. It also follows Netflixs offer of another $2 billion in debt back in October 2018.
The streaming service says it plans to use the debt funding for general purposes, including content acquisitions, production and development, capital expenditures, investments, working capital and potential acquisitions and strategic transactions.
The funds will be raised through unsecured notes that will be issued in two series in both U.S. dollars and euros, it says.
Netflix spends a lot of cash to stay a…
Read the full article at: https://techcrunch.com/2019/04/23/netflix-offers-2-billion-more-in-debt-to-fund-its-content-spending/
Last month, Congress reintroduced theSmall Business Reorganization Act (SBRA), under which a new subchapter V would be added to chapter 11 of the United States Bankruptcy Code. This new subchapter would provide small businesses with aggregate liabilities that do not exceed $2,566,050 with an opportunity to resolve outstanding liabilities through a streamlined and costeffective chapter 11 bankruptcy proceeding. The SBRA also offers small business owners the opportunity to preserve their ownership interest in the company, unlike state and federal receiverships or assignments for the benefit of creditors which typically result in the …
Read the full article at: https://www.natlawreview.com/article/small-business-reorganization-act-reintroduced-way-forward-small-business
Online casino firms allowed addicted high-flying accountant, 42, to rack up 125,000 debts in massive gambling sprees and offered her bonuses to keep betting
- Katie, a 42-year-old once successful accountant, gambled on nine credit cards
- She said that the companies ignored obvious signs of her crippling addiction
- In a 24-hour spree Katie squandered 53,985 on a LeoVegas slot machine game
By Leigh Mcmanus For Mailonline
Published: 19:51 AEST, 23 April 2019 | Updated: 19:55 AEST, 23 April 2019
A gambling addict has slammed betting companies for showering her with promotional offers when she said they should have recognised her spiral into debt as she lost125,000.
Katie, a 42-year-old once successful accountant,…
Read the full article at: https://www.dailymail.co.uk/news/article-6949871/Online-casino-firms-allowed-addicted-woman-42-rack-125-000-debts-massive-gambling-sprees.html
Asset Backed Management Limited was placed into provisional liquidation on 12 April 2019 following an application issued by the Insolvency Service on behalf of the Secretary of State for Business, Energy and Industrial Strategy.
The company has been selling asset investment opportunities to members of the public, including corporate bonds and alternative bonds, and was given 13 days notice of the hearing in the High Court in London but failed to attend.
The company promoted its business through the website www.assetbackedmanagement.com and would contact prospective customers through cold calling. Both activities were in breach of financial regulations put in place to protect the public.
Asset Backed Management Limited is not, and has…
Read the full article at: https://www.gov.uk/government/news/asset-investment-company-placed-in-provisional-liquidation
Herbert Smith Freehills (HSF) has elevated six Australian lawyers to executive counsel.
The six, who follow the six Australian lawyers promoted to partner by the firm last week, are among 27 counsel promotions around the world.
Andrew Pike, HSF regional managing partner in Australia, said that the newly promoted lawyers are all incredibly talented.
The depth and breadth of their contribution is an important part of the success of the firm and our clients, and thats what we are recognising through this round of promotions, he said. This promotion to executive counsel is an important step in the careers of these lawyers, and I congratulate them as their contribution to the firm and commitment to our cli…
Read the full article at: https://www.australasianlawyer.com.au/news/hsf-elevates-six-in-australia-to-executive-counsel-262287.aspx
