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.
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Clients Share Their Experience With National Debt Relief – PR Web
she did not have to pay any out-of-pocket expenses MIAMI (PRWEB) January 22, 2019 There are a lot of
Elliott urges eBay to restructure business to double market value – Channel NewsAsia
Business EBay Inc shareholder Elliott Management Corp on Tuesday urged the e-commerce platform to restructure its business and sell some
RailRunner Europe files for insolvency in Hamburg court – Railway Technology
Railrunner Europe has filed for insolvency in the bankruptcy court of Hamburg in Germany. The company cited multiple reasons for
Will take action against firms such as Liberty House: NCLAT – Business Standard
The National Company Law Appellate Tribunal (NCLAT) on Tuesday came down hard on companies such as Liberty
Many Walsall Gamblers Remain Hooked on FOBTs, Some Racking Up Large Debts through Gambling – Casino Guardian
A charity organisation has revealed that Walsall gamblers are worried about generating massive debts while playing on fixed-odds betting
Strong growth in personal insolvency arrangements – RTE.ie
There has been continued strong growth in personal insolvency arrangements, up 31% in 2018 compared to the previous year. Personal
Insolvency: Lenders Score Another Win Against Guarantors – BloombergQuint
From the onset of the Insolvency and Bankruptcy Code, there has been evolving jurisprudence on the position of guarantors, in
Flow Systems in voluntary administration – The Fifth Estate
Flow Systems that gave Sydney a host of innovative and sustainable water and energy solutions is in voluntary administration. Christopher
Aussie Film WEST OF SUNSHINE Opens In US Cinemas This Week – HEAVY
[embedded content] Uncorkd Entertainment is proud to announce the North American theatrical and digital release of the acclaimed Australian crime-dramaWest
SA working on bailout package for Zimbabwe – NewsDay
SOUTH AFRICA is working on extending a short term credit facility in the region of $7 million to Zimbabwe to
Dentsu Aegis Network SG restructures media business, sees 2% jobs cuts – Marketing Interactive
Dentsu Aegis Network is restructuring its media and performance business in Singapore. Moving forward there will be two verticals that
WAs new KPMG boss Matthew Woods ready to deal – The West Australian
Dealing with distressed companies has given KPMGs next WA boss an extra filter as he chases growth in the States
National Debt Relief

she did not have to pay any out-of-pocket expenses


MIAMI (PRWEB)

There are a lot of consumers who are thinking of working with a debt settlement company that is why National Debt Relief helps explain what other people have experienced with their company. The article titled Whats It Like As A National Debt Relief Client? released January 9, 2019, aims to give people an insight how the company works and provides service to its customers.

The article starts off by explaining that there are a number of people who are struggling with deb…

Read the full article at: https://www.prweb.com/releases/clients_share_their_experience_with_national_debt_relief/prweb16044064.htm


Business

EBay Inc shareholder Elliott Management Corp on Tuesday urged the e-commerce platform to restructure its business and sell some businesses to double its market value in the next two years.

An eBay logo is projected onto white boxes in this illustration picture taken in Warsaw

An eBay logo is projected onto white boxes in this illustration picture taken in Warsaw, January 21, 2014. REUTERS/Kacper Pempel/File Photo


(Updated: )

Bookmark

…

Read the full article at: https://www.channelnewsasia.com/news/business/elliott-urges-ebay-to-restructure-business-to-double-market-value-11153578

Railrunner Europe has filed for insolvency in the bankruptcy court of Hamburg in Germany.

The company cited multiple reasons for the financial distress and has appointed a preliminary insolvency administrator in the process.

During the insolvency proceedings, RailRunner Europe intends to reorganise and restructure the company.

Since July 2017, the company managed daily flow between Bratislava and Braunschweig in Germany, utilising mega-trailers, swap bodies, containers and pocket wagons.

The company planned to expand its offering in Germany by introducing technology that would streamline the…

Read the full article at: https://www.railway-technology.com/news/railrunner-europe-files-for-insolvency-in-hamburg-court/



The National Company Law Appellate Tribunal (NCLAT) on Tuesday came down hard on companies such as Liberty House Group, which successfully bid for debt-ridden firms under the corporate insolvency resolution process but later withdrew from it citing one reason or the other. “We would decide what action should be taken against such companies,” a two-member bench led by Chairperson Justice S J Mukhopadhaya said.


The observations by NCLAT came during a plea moved in the insolvency resolution process of ARGL Limited, which is a subsidiary of debt-ridden Amtek Group. Liberty House had emerged as the highest bidder for ARGL, following which the resolution professional of the company sought a…

Read the full article at: https://www.business-standard.com/article/economy-policy/will-take-action-against-firms-such-as-liberty-house-nclat-119012200943_1.html

A charity organisation has revealed that Walsall gamblers are worried about generating massive debts while playing on fixed-odds betting machines (FOBTs).

The licensing committee of Walsall Council has a scheduled meeting for January 23rd, at which it is expected to give the green light to a revised statement of principles related to the Gambling Act. Apart from the adoption of the statement of principles changes, the council members are also expected to agree to work in collaboration with some partners in order to raise the profiles of local charities which are focused on helping problem gamblers on their way to recovery.

As revealed by GamCare, the national charity organisation which offers help to people addicte…

Read the full article at: http://www.casinoguardian.co.uk/2019/01/22/many-walsall-gamblers-remain-hooked-on-fobts-some-racking-up-large-debts-through-gambling/

There has been continued strong growth in personal insolvency arrangements, up 31% in 2018 compared to the previous year.

Personal insolvency arrangements are designed to return debtors to solvency while keeping them in their home in over 95% of cases.

According to the latest statistical report by Insolvency Service of Ireland, the number of arrangements are up 41% in the fourth quarter of the year compared to the equivalent quarter in 2017.

Lorcan OConnor, Director of the ISI, said while there are some fluctuations within the statistics, the overall trend continues to point towards more people seeking to avail of the solutions available through the ISI that return insolvent debtors to solvency. “It is encouraging to see a one-third incr…

Read the full article at: https://www.rte.ie/news/business/2019/0122/1024776-strong-growth-in-personal-insolvency-arrangements/

From the onset of the Insolvency and Bankruptcy Code, there has been evolving jurisprudence on the position of guarantors, in the event of a default where a guarantee has been provided.

Moratorium Against Guarantors

In the initial period of implementation of the IBC, there was a huge debate as to whether guarantors would be entitled to the benefit of a moratorium, as provided under Section 14, upon the commencement of insolvency proceedings against the borrower for whose benefit the guarantee had been obtained. One set of rulings (an Allahabad High Court judgment a case involving State Bank of India, the Chennai NCLT, and NCLAT judgments in the Veesons Energy Systems case) held that the benefit of the moratorium would be available to the g…

Read the full article at: https://www.bloombergquint.com/insolvency/insolvency-lenders-score-another-win-against-guarantors

Flow Systems that gave Sydney a host of innovative and sustainable water and energy solutions is in voluntary administration.

Christopher Hill andPhilCarter of PwC Australia were appointed joint administrators of Flow Systems Pty Ltd and related entities on 20 December 2018 after a sale process initiated by majority shareholder Brookfield failed to find new owners.

A media statement from PwC said that the administrators have secured funding to continue tradingon a business as usual basiswhilst an accelerated sales campaign is undertaken. This means that creditors who have outstanding invoices as of 20 December 2018 will have an unsecured claim in the Voluntary Administration. Business as usual refers to payment for t…

Read the full article at: https://www.thefifthestate.com.au/business/investment-deals/flow-systems-in-voluntary-administration/

Soundworks November/December Leaderboard

Uncorkd Entertainment is proud to announce the North American theatrical and digital release of the acclaimed Australian crime-dramaWest of Sunshine.

A captivating social-realist story from debut feature filmmaker Jason Raftopoulos, the celebrated film hot from an outstanding response, complete with standing ovation, at the Venice Film Festival tells of a father who has less than a day to pay back a gambling debt, while looking after his young son.

Featuring powerful performances from Damian Hill (The Leftovers), Ty Perham, Arthur Angel (Red Dog), Kat Stewart (Underbelly), Eliza DSouza (Predestination) and Kaarin Fairfax (Picnic at Hanging Rock),Welcome to Sunshineis a nigh-perfect slice of inner city Australian c…

Read the full article at: https://heavymag.com.au/aussie-film-west-of-sunshine-opens-in-us-cinemas-this-week/

SOUTH AFRICA is working on extending a short term credit facility in the region of $7 million to Zimbabwe to help write off Harares external arrears.

BY BUSINESS REPORTER

South Africa Finance minister Tito Mboweni

According to a report carried by the Daily Maverick, South Africa Finance minister Tito Mboweni and his Zimbabwean counterpart Mthuli Ncube are in talks over the specifics of a bailout package.

In the report, Mboweni is quoted as saying the two countries were discussing the possibility of South Africa extending an existing credit facility just short of R100-million (US$7 211 600,92) which Zimbabwe has with the South African Reserve Bank.

Mboweni …

Read the full article at: https://www.newsday.co.zw/2019/01/sa-working-on-bailout-package-for-zimbabwe/

Dentsu Aegis Network is restructuring its media and performance business in Singapore. Moving forward there will be two verticals that will host Carat, Vizeum, Dentsu X and iProspect. These will be the Brand Solutions business and One Singapore Media Group, also incorporating Amplifi. Meanwhile, a DAN Client Solutions virtual team will sit across all brands to drive best practice.

The Brand Solutions team, which has more of an APAC focus, will be in charge of new business and new product creation, with a strong backing on data analytics. Leading the team is Joanna Catalano who was last CEO of iProspect Asia Pacific. She will double hat as CEO of iProspect as well as the lead for the new unit. Previously, Catalano was…

Read the full article at: https://www.marketing-interactive.com/dentsu-aegis-network-sg-restructures-media-business-2-cut-in-jobs/

Dealing with distressed companies has given KPMGs next WA boss an extra filter as he chases growth in the States rejuvenated professional services market.

You see risk in a different way, Matthew Woods said of his insolvency work as the Perth-based national boss of restructuring services for KPMG.

If we are to achieve the strong growth ambitions we have for the firm locally and nationally then we are going to have to continue to aggressively look to grow the firm, and to do that you want the reward that comes from that to be commensurate with the risk taken, Mr Woods said.

Restructuring people see a lot of things that looked good at the time but were the wrong thing to do.

It doesnt make us bullet-proof but it gives us an extra lens.

Mr Wood…

Read the full article at: https://thewest.com.au/business/was-new-kpmg-boss-matthew-woods-ready-to-deal-ng-b881079533z

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