Insolvency Guardian Media Centre
Rungroj Boonprakob, 48, a municipal health official, is taken for a re-enactment of the robbery of a Krungthai Bank branch in Bang Pakong district on Saturday following his arrest on Friday. (Photo by Sonthanaporn Inchan)
CHACHOENGSAO: Police say the director of a municipal health office in Bang Pakong district has admitted robbing a Krungthai Bank branch of 600,000 baht to help a friend pay off a debt.
The arrest of Rungroj Boonprakob, 48, director of the public health and environment office in tambon Bang Samak, shocked local residents who wondered why someone with 27 years of government service would turn to crime.
Mr Rungroj was arrested on Friday, two days after the KTB branch at Tesco Lotus…
Read the full article at: https://www.bangkokpost.com/news/general/1406898/health-director-held-for-bank-robbery
HAIKOU (WASHINGTON POST) – China is drafting a proposal to allow gambling on Hainan Island, people familiar with the talks said, in what would be an unprecedented move that could reshape gaming in China’s territories and transform the economy of a strategic southern province.
Government agencies under a party reform group headed by President Xi Jinping are considering allowing online gaming, a lottery or sports betting in Hainan, said the people, who asked not to be identified because the discussions aren’t public.
The proposal, which is still in an early stage, could open the door to physical casinos over the long term, two of the people said. China currently bans gambling and casinos on the mainland.
The proposal is part of …
Read the full article at: http://www.straitstimes.com/asia/east-asia/china-plans-to-allow-gambling-on-hainan-island
There are now over 700 operational PFI/PPP projects in England and Wales across all sectors, with a capital value of over £60 billion. More interestingly, over £200bn remains outstanding to be paid to the private sector for the provision of services over the remainder of the contract term, making the potential scale of the issue significant. The scale, and financial position of, these projects is similar in Scotland.
For those involved in operational projects, understanding the extent of their exposure to any one particular contracting entity is vital, given the number of subsidiaries operating under the umbrella of each of the main infrastructure groups. If you are overexposed to any one particular entity, you should be putting in p…
Read the full article at: https://www.out-law.com/en/articles/2018/january/carillion-project-companies-should-put-contingency-plans-in-place-to-deal-with-contractor-liquidation-experts-say/
PARAMUS, N.J. (CBSNewYork) One Bronx native has a warning for football fans who may try to wipe out their gambling debt on Super Bowl Sunday.
Frank began betting as a 10-year-old boy.
Thirty years later with a wife, two kids and a house in the suburbs he was down $100,000 for the 1998 NFL season.
The mindset becomes Wow, look I made $100,000. Im a genius. I really know how to pick these games. I really know what Im doing and then you escalate it, Frank said. Its an addiction.
He wasnt paying his bills, he raided his kids college fund and Super Bowl XXXII was Franks salvation.
The bet that day was I was going to make the big win and everything would be OK. My life would turn around, Frank said.
He picked the Packers, but they…
Read the full article at: http://newyork.cbslocal.com/2018/02/02/super-bowl-gambling/
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Calcutta: Corporate resolution of financially stressed companies under Insolvency and Bankruptcy Code, 2016 received a leg up in the Union budget after the Centre allowed multiple tax relief to iron out some of the glitches from the process.
The government allowed bidders to suck the benefit of unabsorbed depreciation or huge losses when they take over sick companies. Resolution professionals said the tax relief would aid companies to bid more aggressively for stressed assets and that in turn would help banks and financial institutions realising more money in the process.
The finance bill effected amendments, applicable from April 1, in the Income Tax Ac…
Read the full article at: https://www.telegraphindia.com/business/ray-of-hope-for-insolvents-205468
For over 50 years a family little-known in Sydney society has controlled legal gambling in Tasmania. All of it. Every single gaming machine in the state is theirs. The Keno is theirs. They own one of the two casinos and a controlling stake in the other. By one calculation, 70¢ of every dollar lost by a Tasmanian in a pokie machine finds its way straight into the Farrell family’s voluminous pockets.
And befitting a family of such stature, the Farrells have always seemed to know pretty well everyone in Tasmania too. If, say, a sports club or a community group needs a little help, the Farrells are only a phone call away. They have long been good to both sides of Tasmanian politics. They went so far as to hire the former Labor premier …
Read the full article at: http://www.smh.com.au/federal-politics/political-news/no-risk-the-family-who-owns-tasmanias-gambling-industry-20180202-h0slct.html
It has been one of the worst kept secrets in the gambling world: prominent real estate figure John McGrath has a $16.2 million gambling debt to the Tom Waterhouse- run betting company William Hill Australia.
This would be the biggest debt ever in gambling history by a single person to a single company in Australia, said one industry insider.
Confirmation of his debts incurred on horse racing has come to light after a number of industry figures have run their rulers over the books of William Hill which is being offered for sale by its British parent company.
One particular figure has caught the attention of prospective purc…
Read the full article at: http://www.smh.com.au/business/multi-millionaire-john-mcgrath-has-16-million-debt-to-bookmaker-william-hill-20180202-p4yzbf.html
Mount Holly native David Childers will pay a visit to the White Horse Black Mountain at 8 p.m. on Friday to sing his country/folk-flavored original songs along with bass and lead guitar accompaniment supplied by the Serpents Trio. The opener will be Morgan Geer, leader and core member of the noirish alt-country band Drunken Prayer.
Childers had played banjo as teen and guitar since his college days, but he was a 37-year-old lawyer by the time he got serious about his songwriting. The two careers ran parallel for several years until Childers burned out from the pressures and stopped performing in 2007. He started performing again in 2010, and has since recorded two albums Glorious Day (2010) and 2013s Next Best Thin…
Read the full article at: http://www.blueridgenow.com/news/20180201/entertainment-briefs-childers-and-serpents-trio-slide-into-white-horse
Chris who joined Twitter only in November last year said he did not know any of the people who had helped him.
“It was my first time interacting with them and I didn’t believe [they would really help] until the first one deposited” he told TimesLIVE shortly after registering at the institution on Friday morning.
One of those who answered his call for help was 5FM DJ Rob Forbes.
Replying to those who had commented on his gesture Forbes wrote: ” It’s payday for me I’ve got a little left over this month and Chris must finish his year get a job buy a house & car etc. The universe aligned nicely today.”
It hasn’t been an easy academic journey for Ngoveni.
In 2016 he got a bursary from a governm…
Read the full article at: https://www.timeslive.co.za/news/south-africa/2018-02-02-twitter-strangers-help-student-settle-university-debt/
Official receiver says axe will fall on back-office roles but adds 919 jobs have been saved
A worker guides down a sign showing the name of liquidated British construction and outsourcing group Carillion.
Photograph: Daniel Sorabji/AFP/Getty Images
At least 377 former Carillion staff will be made redundant, the Insolvency Service has said, as it sifts through the remains of the government contractor that collapsed last month.
The official receiver, the part of the Insolvency Service charged with handling Carillions liquidation, said it had found new employment for 919 staff, who will transfer to other companies.
The receiver is still sorting through Carillions contracts to determine the …
Read the full article at: https://www.theguardian.com/business/2018/feb/02/at-least-377-carillion-staff-to-be-made-redundant
A former director of AMI and NRM, Mr Jacov Vaisman, was declared bankrupt yesterday with the Federal Court granting the ACCCs application for a sequestration order.
The Courts order follows Mr Vaismans failure to pay the ACCCs costs amounting to $3,679,359.00 in proceedings brought by the ACCC against AMI and then NRM. The Court also ordered the ACCCs costs be taxed and paid from Mr Vaismans estate.
The ACCC brought proceedings against Advanced Medical Institute (AMI), its subsequent owner, NRM, and Mr Vaisman for taking advantage of vulnerable consumers suffering from sexual dysfunction. In April 2015, the Federal Court found that AMI and NRM engaged in unconscionable co…
Read the full article at: http://www.investinaustralia.com/news/former-advanced-medical-institute-director-declared-bankrupt
BRDO PRI KRANJU, Slovenia, Feb 2 (Reuters) – The euro zones bailout fund could in the future be at the centre of any restructuring of sovereign debt in the single currency area as part of reforms of the way the zone functions, the head of the fund said on Friday.
The main task of the European Stability Mechanism (ESM) now is to lend cash to governments that have been cut off from markets in exchange for reforms that put their economies back on track. It has helped Greece, Ireland, Portugal, Spain and Cyprus over the past few years.
The euro zone currently does not have any pre-defined debt restructuring rules to deal with a situation in which a government loses market access and has had to improvise on a case-by-case basis to crises.
Thi…
Read the full article at: https://www.reuters.com/article/eurozone-debt-esm/euro-zone-bailout-fund-could-handle-future-debt-restructuring-esm-idUSL8N1PS207