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.
Canadian online gambling giant The Stars Group announced Saturday that it would buy UK counterpart Sky Betting & Gaming in a move that would create the largest publicly listed online gambling company, boost The Stars Groups sports betting product, and secure the combined entity with better positions in key online gambling markets amid intense competition.
The deal was valued at $4.7 billion and is expected to be completed in the third quarter of the year. It is subject to approval from the Toronto Stock Exchange, NASDAQ, and gambling regulators.
Under the terms of the agreement, The Stars Group will pay cash and stock to SkyBet owners CVC Capital Partners and Sky Plc. The cash portion of the deal totals $3.6 billion. The remai…
Instead of falling behind, you should look for an alternative that refinances your debt over a longer term. (Shutterstock)
Follow > ,
Debt consolidation is often associated with emails that land in your spam. But in reality debt consolidation, when offered by a reliable bank or specialised company, is a good financial tool that can help eliminate high-interest debt, and get you back on track financially.
So when should you seek debt consolidation? It could be right for you if you have multiple loans with varying high interest rates and payments and you feel like youre not keeping up with the payments for those loans or credit card balances.
Retailers are filing for bankruptcy at record-high rates as Americans changing shopping habits, along with years of overly aggressive store growth, continue to shake up the industry.
Just four months into the start of 2018, 11 US retailers have already filed for bankruptcy or announced liquidations.
The womens clothing and footwear company said it filed for Chapter 11 bankruptcy protection to help facilitate the sale of its Nine West and Bandolino businesses. The company listed debts of more than $US1 billion.
This is the right step to address our two divergent business profiles, Nine West Holdings CEO, Ra…
National Company Law Tribunal (NCLT) Chairman Justice M M Kumar today said that Article 14 of the Constitution (right to equality) can be invoked if the committee of creditors violates the Insolvency and Bankruptcy Code law while examining business restructuring plan and proposals.
“Article 14 of the Constitution can come in case of COCs (committee of creditors) violate IBC (Insolvency and Bankruptcy Code) law, Kumar said while addressing a seminar on ‘Business Restructuring-Evolving Legal Issues and Imperatives’ organised by PHDCCI.
Kumar further said in case of any violation of enacted law by CoCs comes into notice in examining the business restructuring plan and proposal referred to NCLT, the Article 14 of the In…
Greeces creditors are getting closer on a deal to ease the countrys debt burden, according to Eurogroup President Mario Centeno.
Greeces 86-billion euro ($106-billion) bailout program is set to run out in August, and creditors are working on finding a compromise on debt repayments that would help to manage the countrys financing needs after it stops receiving international aid. A debt deal would also allow the International Monetary Fund to participate in the current bailout.
Mario Centeno
Photographer: Sarah Pabst/Bloomberg
The positions today are much closer than they used to be before, Centeno, who is Portugals finance minister and chairs the meetings of his euro-area counterparts, said in an interview in Washington. We stil…
Disgraced Sydney businessman Salim Mehajer has launched a legal bid to overturn his bankruptcy, stating “only God” has the power to declare him insolvent.
A Federal Circuit Court judge declared the property developer bankrupt in March while he was in prison, having been refused bail over claims he staged a car crash and defrauded an insurance company.
But the former Auburn deputy mayor is expected to ask Justice Michael Lee to annul the decision on Monday.
The 31-year-old this week announced on social media platform Snapchat he’d lodged an application to “set aside this joke”, claiming “only God can bankrupt me”.
Mehajer successfully mounted a fourth bid for bail in early April following a two-month stint in jail. Last week he was fou…
Disgraced Sydney businessman Salim Mehajer has launched a legal bid to overturn his bankruptcy, stating “only God” has the power to declare him insolvent.
A Federal Circuit Court judge declared the property developer bankrupt in March while he was in prison, having been refused bail over claims he staged a car crash and defrauded an insurance company.
But the former Auburn deputy mayor is expected to ask Justice Michael Lee to annul the decision on Monday.
The 31-year-old this week announced on social media platform Snapchat he’d lodged an application to “set aside this joke”, claiming “only God can bankrupt me”.
Mehajer successfully mounted a fourth bid for bail in early April following a two-month stint in jail. Last week he was fou…
Kerry Katona has reportedly arranged to have her ashes scattered in space after she dies.
The reality star, 37, has been focusing on her impressive two-stone weight loss, but is now supposedly thinking about what to do with her body after she’s gone, secretly signing up to a firm that can launch a rocket with her ashes into space. …
Calcutta: The corporate insolvency resolution process initiated against bankrupt Binani Cement is set to miss the 270-day deadline stipulated under the Insolvency & Bankruptcy Code, 2016 as challenges thrown at the resolution plan from several quarters, including UltraTech Cement, continue to be heard by the Calcutta bench of the National Company Law Tribunal.
Judicial members of the bench fixed a hearing on Monday and suggested further audience in the days to come even as the deadline comes to an end on Saturday.
The members asked the resolution professional for Binani Cement to continue to manage the company and extended protection from creditors.
This week, Jacqueline McDowall became the human face of the the malpractice of Australias financial services industry, as she tearfully recounted the woeful advice she was given by Westpac that cost her her house, and most of her superannuation.
The nurse and her husband hoped to buy and run a bed and breakfast, so she could retire from her job. Advised by Westpac financial planner Krish Mahadevan who called himself the money man to sell the family home and invest in a self-managed super fund, she was then told she could not borrow the money she needed.
I said, We sold our family home on your advice. We now dont have a family home to live in, she told the commission through tears. I was too embarrassed to tell anybody. I felt humi…
GOLDILOCKS Investment Company on Friday said it is working on an alternative restructuring plan for Noble Group with other investors, and called on shareholders to repopulate the Noble board in support of its initiatives.
“Goldilocks and a consortium of like-minded investors are prepared to provide Noble with working capital and trade finance. A specific proposal is currently being developed that will be shared with all stakeholders,” said Goldilocks in a media release.
Its plan “can preserve value for shareholders and ensure long term and sustainable survival of Noble, a one-time Asian trading powerhouse,” said the fund.
Goldilocks added it and strategic partners are in discussions that include the revi…
From everyday shopping to charging student loans, medical bills and all those unforeseen expenses — credit card debt has ballooned.
Most Americans carry at least $5,500 on plastic, and the fees are keeping us in a revolving door of debt.
“If you have multiple high-interest credit cards, it’s going to become increasing hard to manage your debt and really expensive,” personal finance expert Andrea Woroch said.
She warns those of us drowning in debt not to grab the first life preserver thrown your way, because loan waters are chock full of predatory sharks and scams.
Be wary of anyone coming to you to sell something, and it’s important for you to do your own research.
A personal loan could help restructure your debt, but…
Canadian online gambling giant The Stars Group announced Saturday that it would buy UK counterpart Sky Betting & Gaming in a move that would create the largest publicly listed online gambling company, boost The Stars Groups sports betting product, and secure the combined entity with better positions in key online gambling markets amid intense competition. 
