Sun, Oct 28, 2018 – 7:02 PM

CATALIST-LISTED gold miner Wilton Resources Corporation on Saturday announced a proposed restructuring exercise that would involve subsumingPT Renuka Coalindo Tbk, anIndonesia Stock Exchange listed company that deals in wholesale and export trading, especially in mining commodities.

This would take place largely through a share swap exercise between the companys subsidiaries, Wilton Resources Holdings (WRH) and PT Wilton Investment (PT WI), andRenuka.

WRH intends to enter aconditional standby buyer agreement with Renuka, which will appoint WRH to be the standby buyer in a rights issue exercise by Renuka.

WRH would be entitled to subscribe for new shares to be issued by Renuka in the rights issue, for about…

Read the full article at: https://www.businesstimes.com.sg/companies-markets/wilton-resources-corporation-proposes-restructuring-exercise

There are fresh fears 110-year-old foundation club Balmain Tigers is on the verge of folding after the Balmain Leagues Club (BLC) was officially placed into voluntary administration.

More than a century of sporting history could come to a premature end after the latest drama involving the new owners of the Leagues Club site at Rozelle. Heworth Construction Group had already lent BLC $300,000 and according to Balmain reneged on a commitment to provide a further $300,000 in urgent assistance.

Balmain Tigers Rugby League Football Club chairman Dr Leslie Glen said the club had been left high and dry after entering into voluntary adminis…

Read the full article at: https://www.smh.com.au/sport/nrl/foundation-club-balmain-tigers-in-danger-of-folding-20181027-p50cdc.html

Bassam Naser, a Dublin GP whose imprisonment for tax evasion prompted a campaign for leniency, has been declared bankrupt at the High Court.

The Sutton-based doctor, whose case was championed by Finian McGrath, a minister of state, as well as locals such as Riverdance creator John McColgan and Howth seafood producer Michael Wright, was sentenced to 16 months in prison last June after pleading guilty to not paying almost 100,000 in income tax. He is currently serving his sentence in Loughan House, a low-security prison in Co Cavan.

The GP, a leading member of the Palestinian community in Ireland, petitioned the court for his own bankruptcy. Those who do so must prove they have made an honest attempt to repay their creditors. His applicati…

Read the full article at: https://www.thetimes.co.uk/edition/ireland/gp-jailed-for-tax-evasion-is-bankrupt-hn9mxfrdg

Debt consolidation is the conversion of high-rate debt into lower-rate debt in order to reduce total interest costs. Homeowners with large amounts of credit card debt who have unused borrowing power on their home have a consolidation option.

Whether or not it is in the homeowners long-run interest to exercise the option, however, turns out to be a challenging question, the answer to which depends on the specifics of the individual case. That makes it a calculator problem, where the challenge becomes finding the right calculator. This article will help with that.

Consolidation options of a homeowner with two mortgages

Homeowners who have both a first and a second mortgage have the most consolidation options:

They can consolidate …

Read the full article at: https://www.heraldtribune.com/news/20181027/jack-guttentag-debt-consolidation-during-period-of-rising-interest-rates

A former football club vice-chairman, whose wife went missing with her three-year-old son in 1976, has been declared bankrupt.

Gordon Macrae, husband of missing mum Renee Macrae, did not defend the action after a fellow Ross County FC director took him to court over an alleged 411,000 debt.

Christine Macrae, known as Renee, and three-year-old Andrew were last seen driving out of Inverness on November 12, 1976.

Later that day a BMW car owned by the 36-year-old mum was found burnt out on the A9 near Dalmagarry with blood stains on the boot.

The pair have not been seen since disappearing, which has led to a search of more than 40 years with no answers.

The probe into the…

Read the full article at: https://www.dailyrecord.co.uk/news/scottish-news/husband-scottish-mum-missing-40-13488001

Businessman Gordon Macrae husband of missing Inverness mum Renee Macrae has been declared bankrupt after a fellow Ross County FC director took him to court over an alleged 400,000 debt.

A petition for sequestration under the Bankruptcy (Scotland) Act 2016 was raised against Mr Macrae by Leo Daly at Inverness Sheriff Court.

The petition was granted by Sheriff Gordon Fleetwood, who appointed Kilwinning-based Accountant in Bankruptcy (AIB) to be trustee of Mr Macraes estate on behalf of his creditors.

Mr Macrae, 81, who lives in Inverness, did not appear in court and was not represented by a lawyer, so did not defend the action.

The sheriff said: The whole estate of said Gordon Major Robson Macrae is vested in and now belongs to said trus…

Read the full article at: https://www.pressandjournal.co.uk/fp/news/inverness/1593648/former-ross-county-director-declares-bankruptcy-after-racking-up-400000-debt/

An entrepreneur who made his fortune in telecoms and tech is putting his money where his heart is to help his native village realise its full potential.

Millionaire businessman Pearse Flynn, who owns and heads up British debt solution company Creditfix, has spoken publicly for the first time about his personal investment in and vision for his native Ballycotton in East Cork.

He expects to plough over 2.5m of his own cash into the village where, as a child, he fished for crabs and lobster.

Its a place worth investing in. My dream is to raise the tide. If the tide rises, everyone rises. If more people come into the village, everyone will benefit, said Mr Flynn.

I think this part of the world has great potential. It is just so beautiful and un…

Read the full article at: https://www.irishexaminer.com/breakingnews/ireland/businessman-pearse-flynn-brings-it-all-back-home-toballycotton-881545.html

LAKE FOREST, Ill.–(BUSINESS WIRE)–Tenneco Inc. (NYSE: TEN) announced today it will close its original
equipment (OE) ride control plants in Owen Sound, Ontario and Hartwell,
Georgia as part of an initiative to realign its manufacturing footprint
to enhance operational efficiency and respond to changing market
conditions and capacity requirements.

The company expects to begin transferring current customer business
primarily to its ride control facility in Kettering, Ohio, later this
year. Tenneco expects to complete the closure of the two facilities near
the end of the second quarter of 2020.

Todays actions to realign our North American ride cont…

Read the full article at: https://www.businesswire.com/news/home/20181026005273/en/Tenneco-Restructure-North-America-Ride-Control-Operations

A levy on football gambling could be introduced to fund improvements in the grass roots game following the collapse of the proposed sale of Wembley Stadium, Football Association chief executive Martin Glenn has said.

Glenn failed to get the backing of the 127-member FA Council for the sale of the national stadium and the deal fell through when Fulham owner Shahid Khan withdrew his 600million offer.

But now Glenn thinks the FA should receive a levy from bookmakers on gambling on the game, something which would require government legislation.

Glenn told the Daily Telegraph: France has effectively a tax on gambling. We would call it a fair return on football gambling.

All those betting co…

Read the full article at: https://www.shropshirestar.com/sport/uk-sports/2018/10/26/fa-chief-proposes-gambling-levy-to-fund-grass-roots-football/

PUBLISHED: 08:30 26 October 2018

Louise McEvoy

There has been a whopping 44 per cent rise in personal debt levels for people living in Knebworth, according to new figures.

The latest quarterly UK Personal Debt …

Read the full article at: http://www.thecomet.net/news/creditfix-s-personal-debt-index-records-hike-in-knebworth-1-5749110

October 26th, 2018 Jason Jiang


Greater China, Shipyards 0 comments

A local court in Jingjiang, Zhejiang has officially declared the bankruptcy of defunct Chinese shipbuilding group JES International Holdings, the Singapore-listed platform of Jiangsu Easter Heavy Industry and seven of its affiliate companies, three years after the yard applied for a debt restructuring.

Once a major private shipyard in China, JES ceased operations in August 2015 due to a major financial crisis and chaos within the Jin family, which controls JES.

In February, JES announced that it had failed to complete a deal to sel…

Read the full article at: https://splash247.com/jes-declared-bankrupt-by-court/

College graduates with student loan debt (read: pretty much all college graduates), rejoice and pack your bags. Financial salvation awaits you in the land of lobster and, now, student debt forgiveness. Thats right: Maine will help pay off your student loans if you move to that great northeasternmost state. Excuse me while book my plane ticket.

Maines Educational Opportunity Tax Credit program is helping residents pay off their student debt through a tax credit initiative. The program was initially targeted toward students who graduated from Maine colleges and universities as an effort to keep more recent grads in-state. Over time, the employer community spoke out loud and clear that even if 100 percent of college graduates in Maine chose …

Read the full article at: https://www.bustle.com/p/maine-will-help-pay-student-debt-of-people-who-move-there-through-a-new-tax-credit-initiative-12992273