Insolvency Guardian Media Centre
Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy.
To enable cookies, follow the instructions for your browser below.
Facebook App: Open links in External Browser
There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser. This can be done through the following steps:
1. Open the settings menu by clicking the hamburger menu in the top right
2….
Read the original article here
In the mountainous, landlocked Benguet province of the Philippines, 22-year-old college student Carl Genesis Contero died by suicide in August after losing hundreds of dollars, including his school tuition, to online gambling. Contero, who was studying to be a police officer, left behind a five-page note apologizing to his family and pleading for the government to ban online betting, his mother says. Hundreds of miles away in the southern province of Bukidnon, 26-year-old gasoline station worker Brayan Concha took his life earlier in the summer after running up his own debt. “I thought he was just betting small amounts through his e-wallet,” says his cousin Antonio. In fact, he’d run up 42,000 pesos ($735) in debt—more than four…
Read the original article here
Dana White gambling secrets revealed as UFC CEO faces massive $50 million debt at Red Rock Casino MSN
Read the original article here
The National Company Law Tribunal (NCLT), Cuttack Bench, has admitted liquor manufacturer Fortune Spirit Limited into the Corporate Insolvency Resolution Process (CIRP) on a petition filed by IDBI Bank to recover dues of over ₹18.5 crore.
The bench of Member Technical Banwari Lal Meena and Member Judicial Deep Chandra Joshi appointed Mr. Sambhulal Agarwal as the Interim Resolution Professional (IRP) to manage the company’s affairs and oversee the resolution process. A moratorium has been declared with immediate effect, prohibiting any legal action, transfer of assets, or recovery proceedings against the corporate debtor.
The Dispute and the Debt
IDBI Bank had sanctioned a working capital limit of ₹15 crore to…
Read the original article here
NTC Global Trade was placed in provisional liquidation last week by Judge Sulet Potterill of the Pretoria High Court, just days after Kurt Knoop resigned as business rescue practitioner (BRP) of the firm, citing death threats.
The court ruling also came shortly after Knoop’s colleague and attorney, Bouwer van Niekerk, was gunned down by assassins in the boardroom of his SmitSew law office in Saxonwold, Johannesburg. Four suspects are currently being sought by the police after they fled the scene in a GWM vehicle.
Knoop resigned as BRP of NTC just hours after his colleague was shot dead.
Read: Hit on liquidation attorney Bouwer van Niekerk sparks fear and outrage
The case, heard in camera (in private) and Read the original article here
A gold trading business owned by a controversial local government figure has been put into insolvency, and liquidators are warning it doesn’t have enough gold and silver bullion to cover debts.
Liquidators were appointed to Guardians of Gold Limited in late August by its director and owner Andrew Hollis, due to concerns about its ongoing viability and its ability to pay bills.
Receivers joined the party in early September, appointed by an Auckland finance company that had lent Guardians of Gold money in late 2024.
Hollis is a former Tauranga city councillor, who served in the dysfunctional council that was sacked and replaced by a commissioner by Labour’s local government minister Nanaia Mahuta in 2021.
He was a…
Read the original article here
The bourbon industry, long considered one of America’s most resilient markets, is facing a sobering reality: bankruptcies are sweeping through distilleries as demand falters and international trade challenges mount.
In just the past few months, three prominent bourbon makers have filed for bankruptcy protection, while others in the spirits industry have shuttered their doors entirely.
Distilleries in Crisis
Among the most notable bankruptcies:
-
Garrard County Distilling Co. in Lancaster, Kentucky, once hailed for blending traditional craft techniques with modern production.
-
Luca Mariano Distillery in Danville, Kentucky, which had positioned itself as a rising star in the premium bourbon segment.
-
Westward Whiskey in…
Read the original article here
The Victorian Government is supporting businesses in Porepunkah and the surrounding region following the events on 26 August 2025.
Up to $2.5 million will be delivered to support the visitor economy in Porepunkah, Bright and surrounding region including:
- $5,000 grants for eligible businesses that have experienced significant disruptions and revenue losses following the incident
- financial support for the Alpine Shire Council and the local business chamber to support community activities and events
- tourism marketing and promotional activities to boost visitor numbers to the Alpine and High Country region
- funding for the Ride High Country Marketing Phase 2 project – to support longer term tourism in the region, increase overnight visitation,…
Read the original article here
A COMMUNITY support group is taking place in Colchester to help people with debts and money problems.
Colchester Community Debt Support offers free drop-in sessions and practical steps every Monday at Greenstead Community Centre from 9.30am to 1pm.
The group also has Friday sessions, apart from the first one in the month, at St Margarets Church Hall in Monkwick from 11am to 1pm.
No appointment is needed.
Read the original article here
As a subscriber, you are shown 80% less display advertising when reading our
articles.
Those ads you do see are predominantly from local businesses promoting local
services.
These adverts enable local businesses to get in front of their target audience – the local
community.
It is important that we continue to promote these adverts as our local businesses need
as much support as possible during these challenging times.
Read the original article here
TEMPO.CO, Jakarta – Indonesia’s Financial Services Authority (OJK) has revoked the business permits of three banks in Indonesia, consisting of rural credit banks (BPR) and sharia rural credit banks (BPRS), as of August 2025.
The banks were declared bankrupt after failing to implement recovery measures recommended by OJK.
Most of the bankrupt institutions were BPRs, with the only exception being PT Bank IFI. Below are details of the three banks whose licenses were revoked this year.
BPRS Gebu Prima
According to the OJK’s official website, the regulator revoked the license of PT Bank Perekonomian Rakyat Syariah Gebu Prima (BPRS Gebu Prima) in Medan, North Sumatra, through Decision Number KEP-23/D.03/2025 dated April 17, 2025.
The bank…
Read the original article here
In a landmark judgment with far-reaching implications for India’s real estate sector, the Supreme Court has firmly distinguished between genuine homebuyers and “speculative investors,” ruling that the Insolvency and Bankruptcy Code (IBC) cannot be misused as a recovery tool by those seeking lucrative returns without any intention of owning a home.
A bench of Justices JB Pardiwala and R Mahadevan, while disposing of a batch of four appeals, upheld the decisions of the National Company Law Appellate Tribunal (NCLAT) that had set aside the initiation of Corporate Insolvency Resolution Process (CIRP) against two builders based on petitions filed by two allottees, Mansi Brar Fernandes and Sunita Agarwal.
Core of the…