Insolvency Guardian Media Centre
Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
One of the biggest topics as part of Activision Blizzards 2018 Q4 Quarter Earnings call was how the company plans to adjust to refocus on boosting revenue after new competition in 2018 effected the companys overall position in the gaming industry.
As part of that, the company stated that they intend to lay off 8% of their work force, which means 800 people will no longer have a job even after Activision Blizzard CEO said that 2018s revenue exceeded their expectations.
The company plans to prioritize game development across all parts of their business, and Call of Duty is also getting new attention within Activision.
During the call, Activision Blizzard Chief Operating Officer, Coddy Johnson, said that they are investing more resources into…
Read the full article at: https://charlieintel.com/activision-blizzard-plans-company-wide-restructuring-to-focus-on-delivering-more-content-to-players-including-call-of-duty/51769/
Bas Lansdorp is a Dutch entrepreneur who saw his dreams of colonizing Mars crumble into red dust after his company, Mars One, declared bankruptcy. The company was made up of a not-for-profit called the Mars One Foundation and a for-profit company called Mars One Ventures.
The idea behind Mars One was to colonize the red planet within the next five years. However, the details on how this dream would be achieved were always very sketchy and secretive.
Mars One Ventures, the Swiss-based side of the company, was declared bankrupt on January 15th. Its value at the time was around $100 million.
Meanwhile,Mars One Foundation is UK-based and is the dormant company. Lansdorp informedEngadget that theFoundation was still operating but cant act wi…
Read the full article at: https://all3dp.com/4/mars-one-space-colonisation-scam-company-declares-bankruptcy/
Brian Anderson Snr (61), from Irvine, was appointed a joint director of Anderson Builders Limited in August 2014 before becoming the sole appointed director in June 2015.
Anderson Builders was involved in the construction of commercial buildings but the companys performance struggled before it had to cease trading in February 2017.
Independent insolvency practitioners were appointed to wind-up the company but were hampered as Anderson Builders had failed to maintain or preserve adequate company records.
Further investigations by the Insolvency Service into the company and the conduct of Brian Anderson while a director confirmed that between August 2014 and February 2017 the company failed to maintain or preserve adequate company reco…
Read the full article at: https://www.gov.uk/government/news/court-bans-irvine-contractor-for-dereliction-of-director-duties
Details have emerged of a $17 million deal that could have saved online travel company Bestjet and potentially spared thousands of customers heavy losses.
A consortium claims it was in talks to buy the doomed Queensland company, five months before it collapsed, but pulled out when the operator came back to them with a list of outrageous demands.
A Memorandum of Understanding (MOU), signed in July last year, states the consortium would purchase 100 per cent of the issued shares in Bestjet Travel, Wynyard Travel, Brooklyn Travel and associated entities for $US12.887 million.
Read more 9Finance coverage of the Bestjet collapse here
Sources…
Read the full article at: https://finance.nine.com.au/2019/02/13/14/07/bestjet-collapse-deal-that-could-have-saved-airfare-company-australia-news
The Company informs your good Office that 12th, 13th and 14th Meetings of Committee of Creditors of Ricoh India Limited under Regulation 19 of the Insolvency and Bankruptcy Board of India Insolvency Resolution Process for Corporate Persons) Regulations, 2016 were held on 30 January 2019, 8 February 2019 and 11 February 2019.
This is a Post facto intimation of the meetings of Committee of Creditors.
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/ricoh-india-ltd-corporate-insolvency-resolution-process-cirp-intimation-of-meeting-of-committee-of-creditors/article26256314.ece
NEW YORK, Feb. 12, 2019 (GLOBE NEWSWIRE) — Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Yangtze River Port and Logistics Limited (NASDAQ: YRIV) from February 2, 2016 through December 5, 2018, inclusive (the Class Period) of the important March 4, 2019 lead plaintiff deadline in the first filed case commenced by the Rosen Law Firm. The lawsuit seeks to recover damages for Yangtze River investors under the federal securities laws.
To join the Yangtze River class action, go to https://www.rosenlegal.com/cases-1476.html or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
NO…
Read the full article at: https://globenewswire.com/news-release/2019/02/12/1724199/0/en/YRIV-MARCH-4th-DEADLINE-ALERT-Rosen-Law-Reminds-Investors-of-Important-Deadline-In-Securities-Class-Action-Lawsuit-YRIV.html
A small Dutch company which promised to establish a permanent colony on Mars, self-funding the unprecedented project with reality television deals, has been declared bankrupt.
The Mars One project was announced in 2012 with the aim of putting the first four humans on Mars in 2024. It claimed to have attracted interest from 200,000 peoplewho wanted to be selected as astronauts, with thousands paying a registration fee to be considered for one-way trips to Earths nearest planetary neighbour. The project attracted considerable interest from space exploration enthusiasts, despite the scientific community denouncing the project as completely unfeasible and even delu…
Read the full article at: https://eandt.theiet.org/content/articles/2019/02/controversial-mars-one-start-up-declared-bankrupt/
The Rio Olympics debts have spiralled out to more than $159 million, almost three years since the Olympic flame was extinguished at the Maracana Stadium.
In yet another body blow warning for any global city considering bidding to host the worlds most prestigious sporting event, a report from Brazil claims the Rio Organising Committees debts have grown by 300 per cent from the initial debt forecasts immediately after the 2016 Games.
A Jornal Noroeste report claims the Games total debts have tripled to more than $US113 million just two years after the committee estimated outstanding debts of $US32 million.
The Games still has outstanding debts with a number of construction companies responsible for some of the temporary stadia and facilitie…
Read the full article at: https://www.news.com.au/sport/sports-life/cruel-cost-of-rio-olympics-still-crippling-organising-committee/news-story/db4f6f1518abf418453f35a740780a10
The number of Albertans who filed for insolvency rose in 2018, though corporate bankruptcies in the oil and gas sector declined significantly.
The number of Albertans who filed for insolvency rose in 2018, though corporate bankruptcies in the oil and gas sector declined significantly.
According to the Office of the Superintendent of Bankruptcy, 14,700 Albertans declared personal insolvency last year, a nearly 10 per cent increase from the year before and the second highest increase among Canadian provinces after Newfoundland and Labrador.
The uptick can be attributed to the provinces unemployment rate, which remains elevated compared with pre-recession levels, as well as rising interest rates, said David Lewis, an Alberta-based…
Read the full article at: https://calgarysun.com/business/local-business/consumer-bankruptcies-on-the-rise-in-alberta-while-oil-and-gas-bankruptcies-decline/wcm/3c4afbd1-3f8d-4576-aff1-b5bd96102b67
It is estimated that for every 100 people who gamble as entertainment or as a business, there will be three to five out of the hundred that will have a problem with gambling. In the United States, there will be 750,000 teenagers between the ages of 14 and 21. While some problem gamblers are able to seek treatment on their own, other gamblers turn to crime or fraud to work on their gambling debts. Gamblers who commit crimes may be thrown in jail, when in reality; they need treatment for their addiction instead. That is the purpose of Nevadas Gambling Treatment Diversion Court, which hopes to teach problem gamblers to pay their debt to society and learn to stay away from gambling as well.
Gambling in Nevada
In Las Vegas alone, there are 36 m…
Read the full article at: https://www.usaonlinecasino.com/casino-news/nevada-launches-first-gambling-treatment-diversion-court/
NEW YORK, Feb. 12, 2019 (GLOBE NEWSWIRE) — Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Yangtze River Port and Logistics Limited (NASDAQ: YRIV) from February 2, 2016 through December 5, 2018, inclusive (the Class Period) of the important March 4, 2019 lead plaintiff deadline in the first filed case commenced by the Rosen Law Firm. The lawsuit seeks to recover damages for Yangtze River investors under the federal securities laws.
To join the Yangtze River class action, go to https://www.rosenlegal.com/cases-1476.html or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
NO…
Read the full article at: http://www.globenewswire.com/news-release/2019/02/12/1724199/0/en/YRIV-MARCH-4th-DEADLINE-ALERT-Rosen-Law-Reminds-Investors-of-Important-Deadline-In-Securities-Class-Action-Lawsuit-YRIV.html
A High Court ruling is good news for a large number of debtors appealing findings that their applications for court approval of personal insolvency arrangements were made out of time.
Mr Justice Denis McDonalds ruling clarifies a provision of the Personal Insolvency Acts concerning court approval of a Personal Insolvency Arrangement (PIA).
He rejected arguments by a fund the Acts require that a debtor seeking court approval for a PIA must make, and serve, the proceedings within 14 days of a creditors meeting which had…
Read the full article at: https://www.irishtimes.com/news/crime-and-law/courts/high-court/high-court-ruling-on-insovency-good-news-for-debtors-1.3791051