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Retail Food Group feels impact of continued scrutiny on franchise sector – Inside Retail

Retail Food Group (RFG) widened its loss in the first half of FY19 to $111.1 million, after posting an $87.8

Ex-PPB Advisory partner stripped of rego, barred for 8 years – AccountantsDaily

A disciplinary committee has cancelled David John Leighs registration as a liquidator following charges against him for allegedly misappropriating $800,000

Activision Blizzard Aware 800 Job Cuts Could Negatively Affect Business – IGN

Share. "Any of these consequences could negatively impact our business." By Adam Bankhurst Activision Blizzard has, in an SEC filing,

Kidnapping Scam Fooled Family Into Paying Gambling Debts – VegasSlotsOnline

30-second summary Singaporean property agent scammed money from his clients Escaped to Malaysia to gamble the stolen money Racked up

Maxar to retain but restructure GEO satellite business – SpaceNews

WASHINGTON Maxar Technologies has decided not to sell or shut down its commercial geostationary orbit satellite business, but will restructure

HOME Fundraising enters voluntary administration – UK Fundraising

HOME Fundraising has today (1 March) announced that it is entering into voluntary administration, after more than 16 years of

Bankrupt Advisors Identified By CFP Board – Financial Advisor Magazine

The Certified Financial Planner Board of Standards released the names of two CFP mark holders who have declared personal

Students resort to gambling to cover the cost of living – The Mancunion

Written by octaviaspray on 28th February 2019. Posted in News Thousands of students are relying on gambling to support themselves

Ready for Restructuring – Legal Business Online

Ready for Restructuring | Asian Legal Business Ready for Restructuring After an economically uncertain and sluggish 2018, offshore law firms

Romanian Postal Office requests insolvency of its own insurance broker – Business Review

The Romanian Postal office has requested the insolvency of PRBA, the national postal operators insurance broker. The companys representatives made

Bulgaria deputy central bank governor for bank supervision to resign – The Sofia Globe

Bulgarias central bank said on March 1 that Dimitar Kostov, deputy governor of the Bulgarian National Bank (BNB) in charge

The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of AXGN, YRIV, W and ATVI –...

NEW YORK, March 01, 2019 (GLOBE NEWSWIRE) -- The Klein Law Firm announces that class action complaints have been filed

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Retail Food Group (RFG) widened its loss in the first half of FY19 to $111.1 million, after posting an $87.8 million loss in the same period a year ago.

The owner of Donut King, Michels Patisserie, Gloria Jeans, Crust, Pizza Capers and Brumbys Bakery reported a 73.4 per cent drop in underlying net profit after tax to $6.6 million in the half, which was decimated by $123.7 million in non-cash impairments and write-downs and provisioning.

The fast food franchisor blamed the drop in profit on a number of factors, including the impact of store closures, investment in its restructuring activity, declines in new store, resale and renewal activity and ongoing negative sentiment towards franchising.

RFG initiated a number of strategic change…

Read the full article at: https://www.insideretail.com.au/news/retail-food-group-feels-impact-of-scrutiny-on-franchise-sector-201903

A disciplinary committee has cancelled David John Leighs registration as a liquidator following charges against him for allegedly misappropriating $800,000 from a liquidation bank account.

The committee, consisting of an ASIC representative, an Australian Restructuring Insolvency and Turnaround Association(ARITA) representative, and an appointee of the Minister for Revenue and Financial Services, also decided that a condition should be imposed on all other registered liquidators that they must not allow Mr Leigh to carry out any of the functions or duties, or exercise any of the powers, of a registered liquidator on their behalf for eight years commencing on 22 February 2019.

The committee refrained from issuing the maximum 10 year per…

Read the full article at: https://www.accountantsdaily.com.au/business/12696-ex-ppb-advisory-partner-stripped-of-rego-barred-for-8-years

By Adam Bankhurst

Activision Blizzard has, in an SEC filing, discussed some of the ramifications of its decision to cut 800 jobs and how it may negatively impact its business going forward.

Via GamesIndustry.biz, PCGamesInsider.biz has d…

Read the full article at: https://www.ign.com/articles/2019/03/01/activision-blizzard-aware-800-job-cuts-could-negatively-affect-business

30-second summary

• Singaporean property agent scammed money from his clients
• Escaped to Malaysia to gamble the stolen money
• Racked up further debt and forced to fake his own kidnapping
• Pleads to his family to pay the ransom

Joe Tan Kia Hian has been jailed for crimes he committed to fund his gambling addiction, including faking his kidnapping. After scamming his clients out of thousands of Singaporean dollars, his sister advised him to seek counselling.

Instead, he escaped to Malaysia, where he continued to gamble and borrowed what he could.After losing the money, he fabricated his kidnapping in exchange for a ransom to free him from his debts.

Property agent targeted clients

How far would you go to fund your gambling debts? Joe Tan Kia …

Read the full article at: https://www.vegasslotsonline.com/news/2019/02/28/kidnapping-scam-tricked-family-paying-gambling-debts/

WASHINGTON Maxar Technologies has decided not to sell or shut down its commercial geostationary orbit satellite business, but will restructure it with a greater emphasis on smaller satellites and government customers.

In an interview with SpaceNews, Walter Scott, executive vice president and chief technology officer of Maxar, said that after months of analysis about the future of its Space Systems Loral business unit, including options to sell the business or even shut it down, the company has decided to keep it.

SSL has more value to us than any prospective buyer was willing to pay, he said. The cost and the risk that would be associated with the wind down would have been very destructive for our customers and our team and unattracti…

Read the full article at: https://spacenews.com/maxar-to-retain-but-restructure-geo-satellite-business/

HOME Fundraising has today (1 March) announced that it is entering into voluntary administration, after more than 16 years of delivering door-to-door fundraising services for charities across the UK.

All 16 regional offices have suspended operations and HOMEs staff base of over 600 employees have today entered into a redundancy consultation. Administrators from H W Fisher & Company have been appointed to continue this process and to actively seek buyers for all or part of the business and assets.

HOMEs fundraising services were contracted on a payment by results model, minimising the risk of liability to charity clients, and HOME Companies Ltd, continues to operate as parent company to HOME India and creative consultancy Wisdom Fish.

Chang…

Read the full article at: https://fundraising.co.uk/2019/03/01/home-fundraising-enters-voluntary-administration/

The Certified Financial Planner Board of Standards released the names of two CFP mark holders who have declared personal bankruptcy within the last five years.

Diane D. Thornton of Houston declared bankruptcy in November 2015, and Frederick E. Powell of Phoenix declared bankruptcy in April 2016, the CFP Board said Thursday. The names are released by the board once a bankruptcy court has ruled on the case.

The CFP Board verifies when a CFP professional has filed a petition for bankruptcy and discloses the bankruptcy on the CFP professionals public profile, which is available through the search functions on CFP Boards website. The board also shares the information wit…

Read the full article at: https://www.fa-mag.com/news/cfp-board-announces-mark-holders–bankruptcies-43587.html

Written by octaviaspray on 28th February 2019. Posted in News

Thousands of students are relying on gambling to support themselves through university and some have been left with debts as high as 5,000.

Thats according to the National Union of Students which has claimed students are increasingly reliant on such activities due to the failures of the government student loan system.

It found that nearly half of students who gamble do so to supplement their income.

Students are particularly vulnerable to gambling in recent years due to the changes in technology and readily-available student loans. Recent technology has allowed online bookmakers to target their ads at ex-gamblers to lure them back to their websites.

The Gambling Comm…

Read the full article at: https://mancunion.com/2019/02/28/students-gamble-cover-cost-living/

Ready for Restructuring

After an economically uncertain and sluggish 2018, offshore law firms are anticipating a need for restructuring and insolvency services in the region, and bulking up their teams in that practice area.
…

Read the full article at: https://www.legalbusinessonline.com/features/ready-restructuring/77343

The Romanian Postal office has requested the insolvency of PRBA, the national postal operators insurance broker. The companys representatives made this decision as a result of analyzing the legal debt recovery options that PRBA had to register with the company. The broker has registered losses of RON 4 million in the last five years and receivables of RON 2 million.

In October 2014, the Romanian Post launched its own insurance broker, willing to implement innovative insurance products as quickly as possible, targeting the traditional customer segment of the national postal operator. Starting May 2015, the Romanian Post offered the possibility to conclude insurance policies in post offices in several cities in the country, aiming at 300…

Read the full article at: http://business-review.eu/business/romanian-postal-office-requests-insolvency-of-its-own-insurance-broker-197363

Bulgarias central bank said on March 1 that Dimitar Kostov, deputy governor of the Bulgarian National Bank (BNB) in charge of bank supervision, plans to submit his resignation to the countrys Parliament.

Kostov said that he had planned to resign in 2018 after intensive work in the past few years and carrying out the bulk of the planned reforms, but delayed his plans at the request of BNB governor Dimitar Radev, after Bulgaria applied last year for close co-operation with the European Central Bank (ECB), the first step towards joining the ERM II exchange rate mechanism.

Kostov said that now was a good time to step down given the very good working communication with the ECB and its Single Supervisory Mechanism, but also because the ECB stre…

Read the full article at: https://sofiaglobe.com/2019/03/01/bulgaria-deputy-central-bank-governor-for-bank-supervision-to-resign/

NEW YORK, March 01, 2019 (GLOBE NEWSWIRE) — The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.

AxoGen, Inc. (NASDAQ: AXGN)
Class Period: August 7, 2017 to December 18, 2018
Lead Plaintiff Deadline: March 11, 2019

According to the complaint, AxoGen, Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) the Company aggressively increased prices to mask lower sales; (2) the Companys pricing alienated customers and threatened the Companys future growth; (3) ambulatory surgery centers form a sign…

Read the full article at: https://globenewswire.com/news-release/2019/03/01/1745398/0/en/The-Klein-Law-Firm-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders-of-AXGN-YRIV-W-and-ATVI.html

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