The Star Gold Coast is chasing a $43 million debt from a Singapore-based high roller who flew out of the country and cancelled a blank cheque casino bosses were holding as collateral.
Key points:
- Wong Yew Choy lost the equivalent of $8.6m each day during his stay
- The Star has launched legal action in the Singapore High Court
- Mr Wong says casino staff made “errors” when he was gambling
Wong Yew Choy jetted into the Gold Coast in late July last year and spent five days playing baccarat at the recently revamped casino at Broadbeach.
The ABC understands Mr Wong handed over a cheque which would cove…
Read the full article at: https://www.abc.net.au/news/2019-04-02/the-star-gold-coast-casino-sues-high-roller-for-43-million-debt/10962912
The ANAOs audit of illegal phoenix activity, examined the effectiveness of the Phoenix Taskforce in combating illegal phoenix activity since its inception in 2014, focusing on governance, strategies, processes and performance measurement.
The annual direct impact of illegal phoenix activity is estimated to cost the Australian community between $2.85billion and $5.13billion.
The ANAOs report found that while the taskforce is making progress, its compliance and enforcement operations are at relatively early stages and have not yet demonstrated major results.
It has made three recommendations that focus on improving the evaluation of the taskforces performance, how it uses previous lessons for future operations, and better guidance regard…
Read the full article at: https://www.accountantsdaily.com.au/tax-compliance/12835-illegal-phoenix-crackdown-brings-in-500m
(Reuters) – Canaccord Genuity Group Inc on Sunday said it will restructure its capital markets business in the United Kingdom, with uncertainty looming over the country as it prepares to exit from the European Union.
The financial services company said the move is expected to result in significant job cuts in its London-based capital markets business.
Canaccord Genuity will record a charge of about $12 million in its fourth quarter as part of the process, the company said.
A prolonged period of political and market uncertainty in the UK has impacted capital raising and related activities in the region resulting in unacceptable returns, it said in a statement.
The restructuring will not affect its wealth management operations in the UK …
Read the full article at: https://www.reuters.com/article/us-canaccord-restructuring-uk-brexit/canaccord-genuity-to-restructure-its-uk-based-capital-markets-business-idUSKCN1RC0W5
Russell Kennedy and Aitken Lawyers expect a boost to their combined firm as their merger goes live.
From today, the merged firm will be known as Russell Kennedy across Australia and as Russell Kennedy Aitken Lawyers in New South Wales.
Australasian Lawyer first reported in November that Russell Kennedy and Aitken Lawyer are to combine. By that time, the two firms had already appointed a committee to oversee all aspects of the merger process, including establishing national practice groups and integrating systems and processes.
With the merger going live Andrew Aitken, Aitken Lawyers managing partner, has joined the Russell Kennedy board. Rohan Harris, who is also part of the firms board and who heads …
Read the full article at: https://m.australasianlawyer.com.au/news/russell-kennedy-aitken-lawyers-see-boost-as-merger-goes-live-261777.aspx
Russell Kennedy and Aitken Lawyers expect a boost to their combined firm as their merger goes live.
From today, the merged firm will be known as Russell Kennedy across Australia and as Russell Kennedy Aitken Lawyers in New South Wales.
Australasian Lawyer first reported in November that Russell Kennedy and Aitken Lawyer are to combine. By that time, the two firms had already appointed a committee to oversee all aspects of the merger process, including establishing national practice groups and integrating systems and processes.
With the merger going live Andrew Aitken, Aitken Lawyers managing partner, has joined the Russell Kennedy board. Rohan Harris, who is also part of the firms board and who heads …
Read the full article at: https://m.australasianlawyer.com.au/news/russell-kennedy-aitken-lawyers-sees-boost-as-merger-goes-live-261777.aspx
(Reuters) – Canaccord Genuity Group Inc on Sunday said it will restructure its capital markets business in the United Kingdom, with uncertainty looming over the country as it prepares to exit from the European Union.
The financial services company said the move is expected to result in significant job cuts in its London-based capital markets business.
Canaccord Genuity will record a charge of about $12 million in its fourth quarter as part of the process, the company said.
A prolonged period of political and market uncertainty in the UK has impacted capital raising and related activities in the region resulting in unacceptable returns, it said in a statement.
The restructuring will not affect its wealth management operations in the UK …
Read the full article at: https://www.reuters.com/article/us-canaccord-restructuring-uk-brexit/canaccord-genuity-to-restructure-its-uk-based-capital-markets-business-idUSKCN1RC0W5?il=0
The district court of Bielefeld opened today for the fashion company Gerry Weber into an insolvency process. The Board informed. The court is the application of the chain to a procedure in self-administration of 25. January followed.
in contrast to regular bankruptcy proceedings, determine the proceedings in ownership, the company itself will continue its course. To the Trustee of the proceedings, the court has ordered the lawyer Stefan Meyer. The Executive Board will lead the company.
the aim of the process was the restructuring of the group, the Board of Directors. The business is to be conducted according to the company in full. The financing of the fashion provider is secured acco…
Read the full article at: https://www.globaldomainsnews.com/corporate-insolvency-court-opens-insolvency-proceedings-against-gerry-weber
Photographer: Simon Dawson/Bloomberg
Photographer: Simon Dawson/Bloomberg
Perella Weinberg Partners LP is hiring Clinton Ray and Guy Morgan from Goldman Sachs Group Inc. to expand its European restructuring business, according to people familiar with the matter.
The bankers will join the firm in London in June to advise new and existing clients on restructuring, debt advisory and liability management, said the people, who asked not to be identified because discussions are private. Representatives for Perella and Goldman declined to comment.
Ray, who led Gol…
Read the full article at: https://www.bloomberg.com/news/articles/2019-03-31/perella-is-said-to-hire-two-top-goldman-restructuring-bankers
March 31 (Reuters) – Canaccord Genuity Group Inc on Sunday said it will restructure its capital markets business in the United Kingdom, with uncertainty looming over the country as it prepares to exit from the European Union.
The financial services company said the move is expected to result in significant job cuts in its London-based capital markets business.
Canaccord Genuity will record a charge of about $12 million in its fourth quarter as part of the process, the company said.
A prolonged period of political and market uncertainty in the UK has impacted capital raising and related activities in the region resulting in unacceptable returns, it said in a statement.
The restructuring will not affect its wealth management operations in …
Read the full article at: https://www.reuters.com/article/canaccord-restructuring-uk-brexit/canaccord-genuity-to-restructure-its-uk-based-capital-markets-business-idUSL1N21I093