Insolvency Guardian Media Centre
With the Company Voluntary Arrangement (CVA) of House of Fraser reportedly hanging in the balance, the well-publicised difficulties facing the retail sector are widespread. There have been significant criticisms made of CVAs, in particular in relation to complaints that they are being abused to avoid leasehold liabilities relating to unprofitable trading locations.
The House of Fraser CVA was subject to a pending legal challenge to the approval of the CVA on the basis that it was obtained through material irregularity and that its terms were unfairly prejudicial, although a settlement was recently reached before the dispute reached the courts.
One particular concern regarding CVAs is that whilst they prevent creditor…
Read the full article at: https://realbusiness.co.uk/law/2018/08/08/risks-for-a-holding-company-when-subsidiary-goes-insolvent-high-street/
Katie Price was yesterday spared the formal declaration of insolvency, after she was given 12 weeks to repay her debts.
The former glamour model who was once worth £45million failed to appear at the Rolls Building on Tuesday to find out if she would be declared bankrupt amid a growing financial debt.
She was given until the end of October to repay monies owed, being scheduled to appear back in court on 30 October to present an individual voluntary agreement (IVA).
However, according to Mark Sands, personal insolvency partner at Quantuma, the IVA will only be accepted if the majority of creditors are satisfied its a better deal than sending Katie …
Read the full article at: https://metro.co.uk/2018/08/08/happens-katie-price-formally-declared-bankrupt-7810101/
The Share Centre has acquired 15,000 customer accounts from the administrators of Beaufort Securities.
Broker Beaufort Securities was declared insolvent by the Financial Conduct Authority in March, with PwC appoi…
Read the full article at: https://www.independent.ie/world-news/the-share-centre-acquires-15000-beaufort-securities-accounts-37195732.html
The Share Centre has acquired 15,000 customer accounts from the administrators of Beaufort Securities.
Broker Beaufort Securities was declared insolvent by the Financial Conduct Authority in March, with PwC appointed to handle the administrat…
Read the full article at: https://www.belfasttelegraph.co.uk/business/uk-world/the-share-centre-acquires-15000-beaufort-securities-accounts-37195734.html
Steinhoff International has secured 100 per cent of third-party creditor support after announcing its lock-up agreement (LUA) became effective as of July 20th.
Initially, it seemed the furniture group were having issues gaining the necessary support, though that fear has now passed as the agreement is in full effect.
The company is pleased to announce that 100 per cent in value of the third-party creditors under Hemispheres EUR750m revolving credit facilityhave now entered into the hemisphere LUA, the group announced via an investor update.
The company and the hemisphere lenders are continuing discussions on implementation of the restructuring of the financial indebtedness of hemisphere[and] are now seeking to execute the materi…
Read the full article at: https://www.insideretail.com.au/news/steinhoff-gains-100-per-cent-creditor-support-201808
KUALA LUMPUR: A 38-year-old woman, whose ex-husband disappeared after running up a RM700,000 gambling debt, is pleading for loan sharks to leave her family alone after being threatened and harassed.
Tan Lee Tin, from Batu Pahat, had been married for 13 years when she finally had enough of her 41-year-old husband’s gambling problems.
The mother of two divorced him two years ago, going as far as to publish an advertisement in a Chinese newspaper.
But that has not stopped Tan from being targeted by loan sharks who are after the RM700,000 that her husband had borrowed to feed his gambling addiction.
At a press conference on Wednesday (Aug 8) held by the MCA Public Services and Complaints Department head Datuk Seri Michael Chong at Wisma…
Read the full article at: https://www.thestar.com.my/news/nation/2018/08/08/woman-harassed-by-loan-sharks-after-exusband-runs-up-rm700000-gambling-debts/
Golf club enters voluntary administration amid redevelopment project
The six new holes under construction next to the old part of the course.
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The six new holes under construction next to the old part of the course.
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New holes under construction next to the old part of the course.
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New holes under construction next to the old part of the course.
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The Aveo retirement village, top right, under construction in the middle of the old part of the course.
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New holes under construction next to the old part of the course.
Shortland Waters Golf Club appears destined to be taken over by another club after going into voluntary administration midway through a major reconstruction project.
Several other Newcastle golf clubs, including Be…
Read the full article at: https://www.theherald.com.au/sport/knights/5571081/golf-club-enters-voluntary-administration-amid-redevelopment-project/
Golf club enters voluntary administration amid redevelopment project
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The six new holes under construction next to the old part of the course.
-
The six new holes under construction next to the old part of the course.
-
New holes under construction next to the old part of the course.
-
New holes under construction next to the old part of the course.
-
The Aveo retirement village, top right, under construction in the middle of the old part of the course.
-
New holes under construction next to the old part of the course.
Shortland Waters Golf Club appears destined to be taken over by another club after going into voluntary administration midway through a major reconstruction project.
Several other Newcastle golf clubs, including Be…
Read the full article at: https://www.theherald.com.au/story/5571081/golf-club-enters-voluntary-administration-amid-redevelopment-project/?cs=7580
Credit Counseling (Source: WBRC)Read the full article at: http://www.wbrc.com/story/38834210/advice-on-choosing-debt-relief-companies
After reports of a former girl group member being sued for not paying back her gambling debt of 600 million won (approximately $530,000), S.E.S.s Shoo admitted that she was the celebrity in question, while Eugene firmly denied it.
On August 3, Eugenes agency C9 Entertainment stated, There have been continuous inquiries towards Eugene herself and the company since the morning. Currently, Eugene, who is pregnant in her full-term, is very shocked. It is not true. Eugene does not play any games in general.
With only a month remaining in her pregnancy and in need of rest, Eugene asked her agency to take strong action against these baseless rumors.
Although Shoos agency stated on the same day that Shoo was not the celebrity as well, she lat…
Read the full article at: https://www.soompi.com/article/1209427wpp/eugene-denies-shoo-admits-involvement-gambling-debt-scandal
AUSTIN, Texas, Aug. 7, 2018 /PRNewswire/ — Samuels Jewelers, Inc. affirmed today that the Company’s approximately 122 stores and its e-commerce site are open for business and are continuing to offer customers great service and a curated assortment of merchandise in fine jewelry.
Samuels Jewelers, Inc. is implementing a court-supervised process in the United States that will allow the Company to restructure its finances while continuing normal business operations. The Company expects this restructuring process will enable it to significantly reduce its outstanding debt.
“We are confident that we are taking the right steps for Samuels Jewelers,” said Farhad Wadia, Samuels Jewelers’ CEO. “Our customers around the U…
Read the full article at: https://www.prnewswire.com/news-releases/samuels-jewelers-continues-normal-operations-during-financial-restructuring-process-300693585.html
Golf club enters voluntary administration amid redevelopment project
-
The six new holes under construction next to the old part of the course.
-
The six new holes under construction next to the old part of the course.
-
New holes under construction next to the old part of the course.
-
New holes under construction next to the old part of the course.
-
The Aveo retirement village, top right, under construction in the middle of the old part of the course.
-
New holes under construction next to the old part of the course.
Shortland Waters Golf Club appears destined to be taken over by another club after going into voluntary administration midway through a major reconstruction project.
Several other Newcastle golf clubs, including Be…
Read the full article at: https://www.theherald.com.au/news/local-news/5571081/golf-club-enters-voluntary-administration-amid-redevelopment-project/