Insolvency Guardian Media Centre
Lionsgate: TV Licensing Deals And Cost Cuts Help Stabilize Huge Debt Load (Upgrade) (NYSE:LION) Seeking Alpha
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Four former executives of Pirch, the San Diego County-based luxury kitchen retailer that filed for bankruptcy last year, have been sued by the company’s Chapter 7 trustee to collect funds aimed for repaying its creditors.
The complaint, filed Sept. 22 in San Diego Superior Court, alleges that the executives improperly spent around $95 million in customer deposits, pouring that money into a business that was increasingly insolvent and paying their own ballooning salaries.
“As described in the complaint, Pirch management diverted millions of dollars of customers’ deposits to prop up its failing business, while simultaneously increasing executive compensation,” said Ali Mojdehi, a partner with Mojdehi Galvin Rego, the San Diego…
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JPMorgan Chase & Co.’s $20 billion debt commitment for the record-breaking buyout of Electronic Arts Inc. is classic leveraged financing, which might seem surprising in a world overrun with private credit. But the boom in alternative lenders and banks’ drive to compete still plays a role – it’s why JPMorgan has a safety net in its own $50 billion direct lending pool if there are any troubles offloading the gaming company’s debt later. Private credit can be banks’ friend as well as foe.
Most major investment banks now have access to private credit funds, either in-house like JPMorgan and Goldman Sachs Group Inc., or through partnerships with other managers like those formed by Citigroup Inc. or Barclays Plc. The EA buyout…
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JPMorgan Chase & Co.’s $20 billion debt commitment for the record-breaking buyout of Electronic Arts Inc. is classic leveraged financing, which might seem surprising in a world overrun with private credit. But the boom in alternative lenders and banks’ drive to compete still plays a role – it’s why JPMorgan has a safety net in its own $50 billion direct lending pool if there are any troubles offloading the gaming company’s debt later. Private credit can be banks’ friend as well as foe.
Most major investment banks now have access to private credit funds, either in-house like JPMorgan and Goldman Sachs Group Inc., or through partnerships with other managers like those formed by Citigroup Inc. or Barclays Plc. The EA buyout…
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The Mansi Brar Judgment – Reaffirming the Pioneer Principle and a push towards crucial reforms in real estate insolvency Cyril Amarchand Mangaldas
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Christopher from Denver fell into a familiar trap: the allure of online crypto casinos. With just a few months of blackjack play, he racked up tens of thousands in credit card debt — and even more in personal losses.
He called into The Ramsey Show to ask for advice on his spiraling financial situation [1]. He told host Dave Ramsey that he accumulated $37,000 in debt on five credit cards in three months, but his total losses were about triple that — he lost another $60,000 in savings, investments and crypto holdings.
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Christopher, 27, has been self-employed for the past five years. Last year he made $88,000 and this year…
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The Insolvency Service said on Tuesday that 125 jobs will be cut at the site by the end of October.
It will leave 255 workers at the oil refinery in North Killingholme, North Lincolnshire as the official receiver continues to seek a rescue deal for the business.
The Government’s official receiver took control of the operation, which is one the UK’s few oil refineries, after owner Prax Group collapsed into insolvency in June.
A spokeswoman for the Insolvency Service said: “This decision was not taken lightly and follows a thorough review of all aspects of the business, following its insolvency.
“We understand that this a very difficult time for all those affected by this decision, and the Insolvency Service will fully support…
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The Insolvency Service said on Tuesday that 125 jobs will be cut at the site by the end of October.
It will leave 255 workers at the oil refinery in North Killingholme, North Lincolnshire as the official receiver continues to seek a rescue deal for the business.
The Government’s official receiver took control of the operation, which is one the UK’s few oil refineries, after owner Prax Group collapsed into insolvency in June.
A spokeswoman for the Insolvency Service said: “This decision was not taken lightly and follows a thorough review of all aspects of the business, following its insolvency.
“We understand that this a very difficult time for all those affected by this decision, and the Insolvency Service will fully support…
Read the original article here
The Insolvency Service said on Tuesday that 125 jobs will be cut at the site by the end of October.
It will leave 255 workers at the oil refinery in North Killingholme, North Lincolnshire as the official receiver continues to seek a rescue deal for the business.
The Government’s official receiver took control of the operation, which is one the UK’s few oil refineries, after owner Prax Group collapsed into insolvency in June.
A spokeswoman for the Insolvency Service said: “This decision was not taken lightly and follows a thorough review of all aspects of the business, following its insolvency.
“We understand that this a very difficult time for all those affected by this decision, and the Insolvency Service will fully support…