Fiscal Rule to Help Steady South African Debt, Central Bank Says Bloomberg.com
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GamCare: Increasing numbers seeking support for gambling losses as reported debts reach over £5m since January European Gaming Industry News
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The slippery slope of financial distress Polity.org.za
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Australia’s Star Entertainment Group has obtained a vital debt waiver of AUD 430 million (around $285 million), providing the struggling casino operator with the opportunity to raise additional funds as it grapples with a series of financial challenges.
On Tuesday, the company confirmed to investors that it had secured an additional debt waiver, following a report in The Australian Financial Review indicating that it was in talks with its lenders regarding urgent loan matters. In a statement, the company confirmed that the discussions have been finalized, securing a covenant waiver until September 30, 2025, subject to the exchange of signed…
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The news: The Star Entertainment Group has entered a trading pause following reports overnight that the troubled casino operator had been granted additional time by lenders to pay back its debt in exchange for a fee.
The context: Lenders are expected to waive debt covenants, which Star has been in breach of, for the June and September quarters, according to the Financial Review citing sources. This means the casino operator will have until February 2026 to find ways to service its debt.
In addition to the fee Star will pay, it is also expected to repay $60 million of its super senior debt to reduce leverage.
The agreement is expected to enable Star’s directors to sign off on its FY25 audited financial report, due today.
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Star Entertainment secures another lifeline as $450m debt looms Sky News Australia
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Former England international John Barnes has been declared bankrupt following the accumulation of £1.5million in debts by his media company.
The 61-year-old former Liverpool star’s financial troubles stem from John Barnes Media Limited, which has since been liquidated.
HM Revenue and Customs filed the bankruptcy petition in early August after the company’s debts exceeded £1.5million.
The bankruptcy represents the latest chapter in Barnes’ long-running financial difficulties, having faced six separate bankruptcy petitions since 2010.
Former England international John Barnes has been declared bankrupt following the accumulation of £1.5million in debts by his media company
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PA
The former footballer’s debts include £776,878 in unpaid VAT,…
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A group of three Chinese men kidnapped a compatriot and held him in a guesthouse in Da Nang City, central Vietnam, forcing the victim to call his family in China to repay a debt in exchange for his release. Photo: Da Nang Police
According to initial investigations, on September 24, Zhang Kai, a…
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A group of three Chinese men kidnapped a compatriot and held him in a guesthouse in Da Nang City, central Vietnam, forcing the victim to call his family in China to repay a debt in exchange for his release. Photo: Da Nang Police
According to initial investigations, on September 24, Zhang Kai, a…
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UK property trust reports valuation decline as liquidation progresses By Investing.com Investing.com Australia
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UK property trust reports valuation decline as liquidation progresses Investing.com
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IBBI Notifies Amendments To Simplify Corporate Insolvency Procedures MSN
