No plan survives contact with the enemy is oft-quoted in military circles (albeit with many different attributions).
Much the same can be said about investment cases, such as our April 2015 Buy recommendation on Crown Resorts (ASX: CWN). (For more Buy ideas, please see our Buy list).
Our case rested on two arguments. One, that concerns about the funding of Crowns substantial capital expenditure in future years were overblown. And, two, that gross gaming revenue in Macau the only place in China where casino gambling is legal and to which Crown was exposed via its then 34% interest in Melco Resorts (NASDAQ: MLC…
Read the full article at: https://www.intelligentinvestor.com.au/macaus-casinos-roar-back-1883601
A DEDICATED office to assist Queensland primary producers experiencing financial distress access free expert financial analysis and advice has been opened.
The office provides eligible primary producers with a no-fee, no-obligation assessment of their business and financial position, to help them make informed decisions on the future of their agricultural enterprise.
The office will be overseen by the Queensland Rural and Industry Development Authority, which has appointed an experienced a panel of rural finance specialists to deliver the farm business analysis.
Agricultural Industry Development Mi…
Read the full article at: http://www.northqueenslandregister.com.au/story/5184971/farm-debt-restructure-office-opens/?cs=4736
RIGA – The administrator of the to-be-liquidated Latvijas Krajbanka, recovered EUR 7.198 million in 2017, according to a report published in the official gazette Latvijas Vestnesis.
In December 2017 the administrator recovered EUR 123,223. The whole sum was recovered from the loans issued by the bank.
The costs of the Latvijas Krajbanka insolvency procedure has totaled EUR 173,519 in December, and EUR 1.717 million in full 2017.
The bank’s capital was negative at minus EUR 499.342 million in late December.
Latvijas Krajbanka’s assets at the end of last year stood at EUR 33.574 million.
The banks debt to the Deposit Guarantee is at EUR 223.945 million in late December, which is the same as a month ago.
On November 21, …
Read the full article at: https://www.baltictimes.com/administrator_of_latvijas_krajbanka_recovers_eur_7_198_million_in_2017/
A DEDICATED office to assist Queensland primary producers experiencing financial distress access free expert financial analysis and advice has been opened.
The office provides eligible primary producers with a no-fee, no-obligation assessment of their business and financial position, to help them make informed decisions on the future of their agricultural enterprise.
The office will be overseen by the Queensland Rural and Industry Development Authority, which has appointed an experienced a panel of rural finance specialists to deliver the farm business analysis.
Agricultural Industry Development Mi…
Read the full article at: http://www.northqueenslandregister.com.au/story/5184971/farm-debt-restructure-office-opens/?cs=4735
Theres something thrilling about the sound of a slot machine, scratching off a lottery card or watching your favorite team play and knowing you have a chance to win big. In fact, theres a psychological reason why gambling, in all its forms, feels so rewarding and why some people cant stay away.
Studies by the American Psychiatric Association have shown that gambling triggers responses from the reward centers of the brain, flooding them with dopamine. This is the same process the brain goes through when you do things you enjoy, like eating.
The dopamine tells the brain this a good decision that you should repeat. Thats why it can be so har…
Read the full article at: http://www.the-standard.org/life/gambling-in-college-features-slots-scratchers-and-sports-betting/article_470ffcb6-ffe4-11e7-b247-ab56a1674c85.html
Las Vegas, Nevada, Jan. 22, 2018 (GLOBE NEWSWIRE) — MGP Wealth Management and Sagacious Asset Management announce that they have retained Klink & Klink (K & K or the Firm), which is skilled and experienced in corporate restructuring and toxic debt remediation, to advise them and their clients on the Woodbridge Capital LLC Chapter 11.
K & K, with offices in New York, California and Nevada and affiliates in Florida, Texas, Tennessee, Utah, Illinois, and Massachusetts, is the successor firm of Ellsworth Young LLP and has assumed its business. K & Ks partners, Christopher Klink and Charles Klink, are experienced lawyers in litigation, finance, toxic debt law, and bankruptcy, with significant experience representing publicly tra…
Read the full article at: http://markets.businessinsider.com/news/stocks/Klink-Klink-Announces-Retention-by-MGP-Wealth-Management-Investors-and-Sagacious-Asset-Management-for-Woodbridge-Capital-LLC-Chapter-11-Restructuring-1013654773
License: Creative Commons CC0
BELGRADE (Serbia), January 22 (SeeNews) Serbia’s Bankruptcy Supervision Agency said it is selling the production facilities of insolvent pharmaceutical company Jugoremedija estimated at 3.887 billion dinars ($40.1 million/32.8 million euro).
An auction for the Jugoremedija factory in Zrenjanin, in the north of the country, will take place on February 8, the Bankruptcy Supervision Agency said in a statement on Friday.
The list of assets put up for sale includes the factory’s equipment, shares and stocks, as well as 28 vehicles, the Bankruptcy Agency said.
A deposit of 777.3 million dinars is require…
Read the full article at: https://seenews.com/news/serbia-to-auction-assets-of-insolvent-drugmaker-jugoremedija-599091
Twenty-four firms had expressed interest in submitting resolution plans for the four companiesAdhunik Metaliks, Orissa Manganese & Minerals, Zion Steel and Adhunik Alloys & Power.As many as eight entities, including Edelweiss Asset Reconstruction Company and SREI Infrastructure Finance, have submitted their proposed resolution plans for four bankrupt Adhunik Group companies, which are under the corporate insolvency resolution process. Twenty-four firms had expressed interest in submitting resolution plans for the four companiesAdhunik Metaliks, Orissa Manganese & Minerals, Zion Steel and Adhunik Alloys & Power. Finally, seven-to-eight entities, including Edelweiss ARC, Srei and Rashmi Group, have submitted their proposed p…
Read the full article at: http://www.financialexpress.com/industry/edelweiss-arc-srei-arm-among-bidders-for-adhunik-group-firms/1026066/
EU creditors are to start sensitive talks on how to structure possible debt relief for Greece as Athens eyes an exit from eight years of international bailouts this summer.
Eurozone finance ministers praised the Greek governments latest reform attempts in a meeting in Brussels on Monday and are expected to sign off the countrys third bailout review formally once outstanding reform measures are completed in the coming weeks.
The review will pave the way for creditors to release a 6.7bn cash injection to Athens next month Greeces penultimate dose of funding under its bailout which will help the government pay o…
Read the full article at: https://www.ft.com/content/b6def408-ffb6-11e7-9650-9c0ad2d7c5b5
The move was quickly decried by the solar industry, which said the tariffs would create a “crisis” and cost thousands of US jobs and billions in investment without helping domestic suppliers meet rising demand.
US Trade Representative Robert Lighthizer said the tariffs were imposed after an “exhaustive” review by USTR and the independent US International Trade Commission which determined US producers were “seriously injured by imports.”
The administration imposed tariffs of up to 50 percent on imports of large residential washing machines over three years, and up to 30 percent on solar panels over four years.
“The president’s action makes clear again that the Trump administration will always defend American workers, farmers, rancher…
Read the full article at: https://www.sbs.com.au/news/trump-approves-steep-tariffs-on-solar-panels-washing-machines
Justin Merriman | Bloomberg | Getty Images
Signage is displayed at the FirstEnergy Corp. Bruce Mansfield coal-fired power plant in Shippingport, Pennsylvania.
FirstEnergy‘s stock price soared on Monday after the embattled utility announced an investment from well-known investors that will help underwrite its planned business transformation.
Shares of FirstEnergy were up more than 12 percent at roughly $33 on news of the $2.5 billion equity investment, which the company called “transformational.”
The investment comes from activist investor Paul Singer’s Elliot Management and…
Read the full article at: https://www.cnbc.com/2018/01/22/firstenergy-shares-soar-after-transformational-investment.html
Tween accessories company Claire’s, the go-to destination for ear piercing, has hired investment bank Lazard to help address its roughly $2.2 billion debt load, the company announced on Monday.
“We believe this is the right time to undertake this initiative and we want to assure our vendors, employees and stakeholders that we believe we have ample liquidity to honor our commitments through the completion of this process,” said CEO Ron Marshall.
It next faces a maturity on its debt in March 2019.
Reuters first reported…
Read the full article at: https://www.cnbc.com/2018/01/22/tween-retailer-claires-turns-to-lazard-for-debt-advice.html