Former rugby league star Jarrod McCracken has faced a Brisbane court accused of leaving the country while bankrupt.
McCracken, 47, appeared in the Brisbane Magistrates Court on Friday charged with four counts of leaving Australia while an undischarged bankrupt.
Former league star Jarrod McCracken.
Photo: Robert Rough
The embattled former New Zealand footballer was declared bankrupt in 2012 after a years-long dispute over a north Queensland property development.
Mr McCracken’s financial woes came after he, as a developer, amassed a wealth once reported to be worth $30 million following a neck injury from a spear tackle that ended his playing career in 2000.
The hearing was adjourned and he was released on bail to reappear in court on February …
Read the full article at: https://www.brisbanetimes.com.au/national/queensland/bankrupt-rugby-league-star-in-court-for-trying-to-leave-the-country-20180119-p4yymw.html
A TWO-month deadline has been set for Ballina-based caravan company, Kimberley Kampers, to pay back its employees and creditors after a rescue package was passed at this week’s creditors meeting.
Sydney-based administrator Steven Nicols, of Nicols and Brien Business Recovery, said an overwhelming majority of the more than 50 employees and other stakeholders at the meeting voted in favour of a Deed of Company Arrangement.
It means Kimberley Kampers has now entered into an agreement with its creditors as to how the company’s affairs would be managed.
Mr Nicols said employee wages and superannuation payments would be paid in full while unsecured creditors would gain six cents of every dollar owed by March 31.
If that deadline is not met, Mr…
Read the full article at: https://www.northernstar.com.au/news/deadline-kimberley-kampers-told-to-pay-employees-c/3314335/
A MoneySaver who racked up £180,000 in debt on loans and credit cards has told how she finally became debt-free 12 years later, thanks to the debt charity Stepchange and help from the MoneySavingExpert.com Forum.
Forumite ‘Lozzam’ says that to this day only six of her family and friends know the true scale of the debt she found herself facing – even though the City high-flyer spent more than a decade battling to clear the sum. Finally, just before last Christmas, she was able to post on our Debt-Free Wannabe board with the triumphant title: ‘£180,000 debt – done!‘
Though she wishes to remain anonymous and has asked us not to publish certain details which could identify her, Lozzam agreed to share her story w…
Read the full article at: https://www.moneysavingexpert.com/news/protect/2018/01/i-cleared-180000-of-debt-in-12-years-
Gibbons has over 40 years of legal experience with a practice focus on insolvency related issues, including debtor representation, debtors-in-possession, creditors, lending institutions, hedge funds, trustees, receivers, creditors’ committees, non-profit entities and health care providers in all aspects of state and federal insolvency proceedings and out-of-court resolutions.
“We are very excited to add to the firm such a distinguished and highly recognized attorney like Colette. She brings to McDonald Hopkins a wide spectrum of legal knowledge, experiences and capabilities that will assist our clients with their insolvency relate…
Read the full article at: https://www.prnewswire.com/news-releases/prominent-business-restructuring-attorney-colette-gibbons-joins-mcdonald-hopkins-300585248.html
Former Newcastle United star Steve Watson has warned young football players to trust the right people with their finances after bad investment led to him being declared bankrupt.
Mr Watson, who is now manager of Gateshead FC , filed for bankrupty last year after falling victim to a film investment scheme that left him with a huge tax bill when HMRC judged it to have been a tax avoidance scam.
The fans favourite, still the youngest ever player to turn out for Newcastle United, said he has nothing to be ashamed of and added that dozens of players and other celebrities had fallen victim to the same scheme.
Mr Watson made the investment when he was in his early twenties and was drawn to the scheme as he is an avid film fan. His involvement l…
Read the full article at: https://www.chroniclelive.co.uk/business/business-news/ex-newcastle-united-star-steve-14176741
Bay Harbor Island, FL, Jan. 19, 2018 (GLOBE NEWSWIRE) — Majestic Oil & Gas (MJOG OTC: Pink) today announced it is transitioning from a wholly owned oil and gas company to a holding group which will accommodate new acquisitions being completed. This restructuring initiative will accelerate its evolution from just an Oil company to a diversified holding group. Majestic Oil & Gas, Inc. (MJOG), with the completion of the acquisitions of Bakken Acquisition, MJ Holdings Group, Inc. and its wholly owned subsidiary MJ Biotech, Inc., has planned for its strategic growth into new and exciting market segments. In addition, in the coming weeks, Majestic will be filing for a name change to better reflect their mission and corporate obj…
Read the full article at: http://markets.businessinsider.com/news/stocks/Majestic-Oil-Gas-Announces-Restructuring-Initiative-to-Accelerate-Transformation-1013310218
Macau police authorities are tracking down almost HK$48 million worth of cash chips stolen from Wynn casino earlier this week, following the arrest of a debt-ridden croupier and his elderly relative in connection with the crime.
According to the South China Morning Post today, four Wynn Macau chips were among banknotes and other items seized from the two suspects and shown to journalists at a police briefing in the former Portuguese colony on Friday.
The robbery one of the largest in Macau took place at about 7am on Tuesday.
The 49-year-old croupier, surnamed Lei, was on duty with a female colleague inside the VIP gambling lounge, with no other staff or customers present, police said.
He shouted at…
Read the full article at: https://macaunews.mo/macau-police-hunt-hk48-million-gambling-chips-casino-robbery/
Chinas top court has released a new interpretation to the countrys Marriage Law to prevent a spouse from being forced to pay any hidden debts of their husband or wife.
Lawmakers redefined the concept of marital joint liability amid growing public anger surrounding gaps in a previous interpretation in 2004, which forced a spouse to prove that the family didnt benefit from the borrowed money, putting them in hot water. In some previous cases, a married partner was held accountable for debt incurred through illicit activities like gambling, or were told to repay money borrowed and used during a previous marriage.
In the revised interpretation (link in Chinese) issued on Jan. 17, the supreme court said debts will be considered shar…
Read the full article at: https://www.caixinglobal.com/2018-01-19/chinas-top-court-says-you-are-not-liable-for-spouses-hidden-debts-101200185.html
Macau authorities are tracking down almost HK$48 million worth of cash chips stolen from a casino earlier this week, following the arrest of a debt-ridden croupier and his elderly relative in connection with the crime.
Four Wynn Macau chips were among banknotes and other items seized from the two suspects and shown to journalists at a Macau police briefing on Friday.
The robbery one of the largest in the worlds biggest gambling hub took place at about 7am on Tuesday.
The 49-year-old croupier, surnamed Lei, was on duty with a female colleague inside the VIP gambling lounge, with no other staff or customers present, police said.
He shouted at his female colleague instructing her not to make any noise and ordering her lie …
Read the full article at: http://www.scmp.com/news/hong-kong/law-crime/article/2129693/macau-police-hunt-hk48-million-gambling-chips-after-wynn
Marc joins Price Bailey with experience working for a top 10 UK accountancy firm, having accumulated nearly 30 years working within Insolvency overall. His breadth of experience covers all aspects of corporate and personal insolvency across various industries including Construction and Healthcare, amongst others.
Having worked across East Anglia and London for the past 15 years, he combines his extensive experience with a commercial understanding of the local market. He is a firm believer in prevention rather than cure and has spent a considerable amount of time working with solicitors, accountants and business owners on the benefits of taking advice early rather than waiting until it is too late.
Paul Pittman, who heads the Insolven…
Read the full article at: https://www.cambridgenetwork.co.uk/news/price-bailey-enhances-insolvency-new-appointment/?
In what is being considered as a first in India’s insolvency resolution history, a state-owned entity has moved the National Company Law Tribunal (NCLT) to recover its arrears from another government-run firm.
Andhra Pradesh Power Generation Corporation (AP Genco) has dragged a Telangana power distribution company to the tribunal, seeking to recover more than 3,700 crore through insolvency proceedings.
AP Genco has filed its petition before the NCLT’s Hyderabad bench against Northern Power Distribution Company of Telangana under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the corporate insolvency resolution process.
The power generation firm had earlier claimed around 4,000 crore from Telan…
Read the full article at: https://economictimes.indiatimes.com/industry/energy/power/one-government-company-moves-nclt-against-another/articleshow/62565352.cms
Queensland businesses say they are owed thousands of dollars by the organisers of the Australian and New Zealand arm of popular global lifestyle and yoga festival Wanderlust, who have gone into liquidation.
The company had staged several festivals around both countries in the past four years, but filed for insolvency this month.
Wanderlust was last held at Twin Waters on the Sunshine Coast in November and was next scheduled to be held at Lake Taupo in New Zealand in March.
