Insolvency Guardian Media Centre
London – Sitting in his
prison cell, Paul Buck was determined that something good would
come out of a secret addiction that had seen him gamble away
millions, attempt suicide and almost destroyed his marriage.
The British former wealth manager had a year behind bars to
think about it, after being jailed for stealing 434 000 pounds
(R7.5 million) from his employer, Santander bank, to fund his habit.
“It took one bet on a Thursday afternoon in October 1994 to
turn me from someone who had no interest in gambling to somebody
who didn’t go without a bet for 17 years,” the 41-year-old told
the Thomson Reuters Foundation.
As chief executive of Epic Risk Management, a social
enterprise that educates people about the dangers of gam…
Read the full article at: https://www.iol.co.za/news/world/watch-banker-who-stole-r75m-helps-gamblers-kick-the-habit-12513265
The co-owner of high-profile art gallery and auction house Mossgreen says creditors will not be out of pocket after the shock news the company has gone into voluntary administration.
Paul Sumner, who is also chief executive and co-founder, said the move was due to debts following the company’s rapid expansion and the withdrawal of its key investor.
On December 21 Mossgreen, which has branches in Melbourne, Sydney and Auckland, thanked customers via its Facebook page for their 2017 support and announced its holiday office closure.
The next day, the Australian Securi…
Read the full article at: http://www.smh.com.au/national/auction-house-mossgreen-goes-into-voluntary-administration-20171226-h0abvf.html
Al-Watan newspaper
JUSTICE is fundamental to everything in life. We often criticize societys negligence toward alleviating the suffering of the poor by meeting their basic requirements. We have started this criticism several years ago and it did not go waste as we are yielding its fruits day after day.
Like we expressed our displeasure and anger over the poor services and performance of a number of ministries, we appreciate today the changes that have taken place in these ministries, even if it is small. It is our duty to pay tribute to the various aspects of improvement and development that have occurred in a number of public services as well as ministries.
Today I will start with the Ministry of Justice, as I believe that it comes on …
Read the full article at: http://saudigazette.com.sa/article/524805/Opinion/Local-Viewpoint/Justice-Ministrys-up-to-date-services
More than 500 applications for admission have been rejected, dismissed or withdrawn.
Related News
Even as the rate of recovery of bad loans has shrunk, the number of cases being filed for corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code (IBC), enacted in May 2016, has been rising. As on November 2017, over 4,300 applications under
CIRP were filed in the various benches of the National Company Law Tribunal (NCLT), according to data from the Reserve Bank of India (RB…
Read the full article at: http://indianexpress.com/article/business/banking-and-finance/national-company-law-tribunal-corporate-insolvency-cases-under-ibc-rising-4998703/
Its that time of the year when we all splash our cash to celebrate Christmas and New Year.
Its not uncommon for people to spend more than they originally planned, with the shopping season continuing through the Boxing Day sales and beyond.
But many can end up with thousands of pounds of debt.
Citizens Advice Newcastle says people turn to them for help every year after the Christmas period is over, struggling with unmanageable debts.
In the first three months of 2017, they gave advice to 629 clients with finance problems.
(Image: PA)
There was a 50% increase in people seeking advice on Pay Day Loan debt and a stark rise of 76% in the number of people with credit card debt when comparing December 2016 and January …
Read the full article at: http://www.chroniclelive.co.uk/news/north-east-news/10-tips-help-you-stay-14053412
A controversial judicial interpretation of China’s Marriage Law that makes people pay their ex-spouses’ debts is expected to be revised amid rising demand from the public over the past few years.
Shen Chunyao, chairman of the Legislative Affairs Commission of the National People’s Congress (NPC) Standing Committee, said in a report delivered on Sunday at the bimonthly session that 45 deputies have already proposed a review of Article 24 of the judicial interpretation of the Marriage Law.
Since 2016, the commission has received nearly 1,000 suggestions from the public on the clause and the NPC is pushing forward to solve the problem, said Shen.
Li Xiuping, founder of the anti-Article 24 organization, a group formed by people – mostly …
Read the full article at: http://www.globaltimes.cn/content/1081961.shtml
manner: Sahoo
By Manoj Rammohan
New Delhi, Dec 25 Steering the “smooth and fast- paced” journey of the insolvency law, the IBBI is now looking to put in place the regime for individual insolvency in a phased manner, according to its Chairperson M S Sahoo.
Around 500 corporates have been admitted for resolution and about 100 companies have commenced voluntary liquidation under the Insolvency and Bankruptcy Code (IBC), which is a little over a year old.
As it enters 2018, individual insolvency regime and facilitation of corporate insolvency transactions are among the main priorities for the Insolvency and Bankruptcy Board of India (IBBI).
“We are looking forward to implementing a regime for individual insolvency in a phased manner. In the f…
Read the full article at: https://www.outlookindia.com/newsscroll/individual-insolvency-regime-to-be-operational-in-phased/1216788
Al-Watan newspaper
JUSTICE is fundamental to everything in life. We often criticize societys negligence toward alleviating the suffering of the poor by meeting their basic requirements. We have started this criticism several years ago and it did not go waste as we are yielding its fruits day after day.
Like we expressed our displeasure and anger over the poor services and performance of a number of ministries, we appreciate today the changes that have taken place in these ministries, even if it is small. It is our duty to pay tribute to the various aspects of improvement and development that have occurred in a number of public services as well as ministries.
Today I will start with the Ministry of Justice, as I believe that it comes on …
Read the full article at: http://www.saudigazette.com.sa/article/524805/Opinion/Local-Viewpoint/Justice-Ministrys-up-to-date-services
NEW DELHI: Steering the “smooth and fast- paced” journey of the insolvency law, the IBBI is now looking to put in place the regime for individual insolvency in a phased manner, according to its Chairperson M S Sahoo.
Around 500 corporates have been admitted for resolution and about 100 companies have commenced voluntary liquidation under the Insolvency and Bankruptcy Code (IBC), which is a little over a year old.
As it enters 2018, individual insolvency regime and facilitation of corporate insolvency transactions are among the main priorities for the Insolvency and Bankruptcy Board of India (IBBI).
“We are looking forward to implementing a regime for individual insolvency in a phased manner. In the first phase, we would…
Read the full article at: https://economictimes.indiatimes.com/news/economy/policy/individual-insolvency-regime-to-be-operational-in-phased-manner-ibbi-charirperson-ms-sahoo/articleshow/62241151.cms
manner: Sahoo
By Manoj Rammohan
New Delhi, Dec 25 (PTI) Steering the “smooth and fast-
paced” journey of the insolvency law, the IBBI is now looking
to put in place the regime for individual insolvency in a
phased manner, according to its Chairperson M S Sahoo.
Around 500 corporates have been admitted for resolution
and about 100 companies have commenced voluntary liquidation
under the Insolvency and Bankruptcy Code (IBC), which is a
little over a year old.
As it enters 2018, individual insolvency regime and
facilitation of corporate insolvency transactions are among
the main priorities for the Insolvency and Bankruptcy Board of
India (IBBI).
“We are looking forward to implementing a regime for
individual insolvenc…
Read the full article at: http://www.newindianexpress.com/pti-news/2017/dec/25/individual-insolvency-regime-to-be-operational-in-phased-1736552.html
The Gujarat High Court has issued notice on a Petition challenging the constitutional validity of the Insolvency and Bankruptcy Code, 2016 and the recent ordinance barring Promoters from submitting a resolution plan.
The notice returnable on 22 January, 2018 was issued by a Bench comprising Chief Justice R. Subhash Reddy and Justice Vipul M. Pancholi on a Petition filed by Accord Industries Limited.
The Petitioner approached the High Court after its financial creditor Canbank Factors Ltd. initiated action against it under the Code while a dispute regarding payment of an amount over Rs. 9 crore was pending before a Civil Court.
It has now challenged Sections 5(7) (definition of financial creditor), 6 (persons who may initiate corporate insol…
Read the full article at: http://www.livelaw.in/insolvency-bankruptcy-code-notice-issued/
Late cycle behavior is everywhere these days. Governments have stopped worrying about deficits, and now the rest of us are apparently joining the orgy.
Corporations, for instance, are buying each other out – mostly with borrowed money – at a record pace:
December’s $361 Billion Deal Haul Is the Busiest in a Decade
(Bloomberg) – Just as most people are packing up for Christmas, dealmakers across the world are rushing to finish up a slew of transactions in industries ranging from consumer to telecom and health care to gambling.
Companies have announced about $361 billion of mergers and acquisitions this month, making it the busiest December in at least 12 years, according to data compiled by Bloomberg. On Friday, the last work day before…
Read the full article at: https://seekingalpha.com/article/4133718-give-part-2-consumers-corporations-join-debt-orgy