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Gambling is considered as adult entertainment; however, there is no denying that it can be addictive. There is an increasing number of those suffering from gambling addiction. in the US and also in many other countries across the globe.
While gambling is regulated in the US the number of gambling addicts is on the rise. Studies estimate that between 1-3 percent of adults in the US are directly or indirectly affected by gambling addiction.
The extent of how prevalent gambling is in the US can be estimated from the fact that Americans lose over $100 billion every year in gambling.
Gambling addiction is also a health issue, and more and more governments are now changing their policies towards treating compulsive gamblin…
Personal insolvencies totalled 12,779 from 10,602 in 2017-18. Estimates for 2018-19 are provisional until final figures are published on 24 July 2019.
Most of the increase was down to protected trust deeds (PTDs), which increased by 32.9% on the previous year, reaching 7,917 compared to 5,958 in 2017-18.
Overall, the number of bankruptcies and PTDs rose for the third consecutive year but remain below levels seen between 2006-07 and 2013-14.
In 2018-19, there were 2,544 debt payment programmes (DPPs) approved under the debt arrangement scheme (DAS), 226 more than a year earlier, an increase of 9.7%. In 2018-19, 37.1m was repaid from debtors under DAS compared with 37.6m in 2017-18.
DAS allows those in the scheme the opportunity to repay t…
Subject: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR) read with Para 16(1) & (g) of Schedule III of LOOR – Results of Voting by members of Committee of Creditors.
Dear Sir/Madam, Results of voting by the members of Committee of Creditors. In compliance of Para 16 (f) of part A of Schedule III and Regulations 30 of SEBI (listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR), we enclose herewith copy of results of voting by the members of Committee of Creditors (CoC) subsequent to its meeting held on 25.04.2019. The same are self-explanatory. You are requested to take the above information on record. Sd/- Ravindra Chaturvedi (IRP) Excel Glasses Ltd.
Disclosure under Regulation 30(2) read with Schedule III of Securities and Exchange Board of India (LODR) Regulations, 2015 – Post – facto Outcome of the Second Meeting of Committee of Creditors of Punj Lloyd Limited
Dear Sir/Madam,
Pursuant to Regulation 30 (2) of Securities and Exchange Board Of India (Listing Obligations & Disclosure Requirements) Regulations, 2015 (LODR) and in accordance with the requirements of Sub Clause 16 (g) of Clause A of Part A of Schedule III of SEBI (LODR), we wish to inform you about the major outcome of the Second Meeting of Committee of Creditors of Punj Lloyd Limited (Company) held on April 18, 2019 in terms of Regulation 19 of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for C…
NEW DELHI: Resolution plans under IBC have yielded 200% of liquidation value for creditors in addition to rescuing viable firms, IBBI Chairperson M S Sahoo has said.
“They are realising, on an average, 45 per cent of their claims through resolutions plans under the Corporate Insolvency Resolution Process (CIRP), which takes on average 300 days and entails a cost on average of 0.5%.
“This is significantly better as compared to the previous regime which yielded a recovery of 25% for creditors through a process which took about five years and entailed a cost of 9%,” Sahoo was quoted as saying in a Ficci statement.
Germanys Johs Thode has finally exited the shipowning business.
The Hamburg-based shipowner is understood to have sold its last vessel, the 1,118-teu Hanse Fortune (built 2006).
The container feeder vessel was the last of four vessels to be sold in the past few weeks.
Details of the transaction remain unclear, but German financial sources said the companies that owned the Thode ships were declared insolvent and the vessels have been hived-off by administrators.
In March, Thode sold two boxships, the 1,049-teu Hanse Endurance and Hanse Energy (both built 2008), to SITC of China for $7.8m each.
Its last bulker, the 27,800-dwt Hanse Gate (built 2004), was sold around the same time for $4.7m.
We told you yesterday about Elizabeth Warrens new plan to make two- and four-year public colleges free for students and cancel up to $50,000 in student loan debt for millions of Americans.
The proposal generated a wide range of responses, including questions about the structure and fairness of the student debt forgiveness. While experts who study student loan debt say widespread forgiveness would boost the economy, some question whether it is the most effective way to stimulate the economy or the best method to ease the strain on the borrowers who need relief most, CNBCs Jacob Pramuk notes.
Some critiques, criticisms and defenses of Warrens plan:
It could create some bad incentives: Len Burman of the Tax Policy Center said that the way War…
Student debt in the US is worth a whopping $1.5 trillion. Graduates are so burdened with debt, according to reports, that they arent buying homes or getting married. Even grandparents are burdened by student loans, having borrowed on their grandkids behalf.
It is no wonder, then, that US presidential candidate Elizabeth Warren has promised to wipe out student debt for three-quarters of all borrowers, as well as make public college free to attend. Her plan to forgive loans will cost more than $600 billion, on top of the cost of free college.
In a world of limited resources, its worth asking: is student debt really an urgent problem thats weighing down the economy?
Why student loans are special
Student debt is special, but not because of its s…
April 25, 2019 Toronto, Ontario Department of Finance Canada
Every Canadian should feel good about what the future holds, and confident that support will be there when they need it. That includes Canadas seniors, who deserve a secure and dignified retirement after a lifetime of hard work.
Budget 2019 is the next step in the Governments plan to invest in the middle class, keep Canadas economy strong and growing and make life more affordable for Canadians at all stages of their lives.
At a town hall hosted by the Canadian Association for Retired Persons, Minister of Finance Bill Morneau spoke about the Governments efforts to better support seniors as they retire-from boosting benefits for low-…
Industrial products group 3M said it plans to shed jobs globally as it restructures the business, and reduced this years earnings guidance after it reported first-quarter earnings that missed Wall Street expectations.
The conglomerate, whose products range from Post-it notes and Magic Tape to the reflective material for road signs, pointed to slowing economic conditions in key markets, such as China, and litigation-related charges as key factors in its sub-par performance in the first three months of this year.
The news sent shares tumbling more than 9 per cent before the US market opened on Thursday, a drop that would put it on track for its biggest one-day fall since 1997. The decline was weighing heavily on futures for the Do…
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