A new program to collect money owed to the state from gambling winnings brought in more than $500,000 in its first three months.

The Gambling Winnings Setoff for Outstanding Debt Act was approved last year and went into effect Sept. 2. It requires gaming operators to withhold a portion of winnings from people who have an unpaid debt with the state and send the funds to the Department of Revenue, which then distributes them to various agencies, including the departments of Motor Vehicles, Labor and Health and Human Services.

Winnings subject to seizure include those from casino games, horseracing, sports betting, and rewards from mechanical amusement devices.

Of the nearly $530,000 collected, about $215,000, or more than 40%, went to…

The Herald can reveal Duncan Raggett and David McGinness of accountancy firm and restructuring specialist AAB were appointed joint provisional liquidators on November 21.

The liquidators made no comment when asked how many people were employed by the firm at the time of the appointment. Unabridged accounts filed by Dog Consultancy at Companies House show that it had employed an average of 27 people over the 15 months ended December 31, 2024.

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The website for Dog Consultancy shows that the firm had worked for a host of major brands, ranging from Isle of Harris Distillery and The Macallan to Baillie Gifford and L’Oreal. The firm was incorporated in October 2023.

AAB said in a statement: “Duncan Raggett…

SERI KEMBANGAN: Country Heights Holdings Bhd will lodge reports with the police and the Malaysian Anti-Corruption Commission (MACC) over the liquidation of Mines Waterfront Business Park, which is under Baker Tilly Insolvency PLT’s administration, said founder Tan Sri Lee Kim Yew.

He said the matter was raised by shareholders during the annual general meeting and was addressed by the board.

“This legal process is not about optics or emotion, it is about outcomes. All legal, arbitration and recovery actions outlined are deliberate and forward-looking, aimed at resolving legacy matters, unlocking asset value, and positioning the group on a stronger footing for sustainable recovery and growth. After our shareholder asked a lot of…

In a recent case, the High Court has provided important clarification on the treatment of retention monies, reinforcing the statutory trust obligations under the Construction Contracts Act 2002 (CCA).

Retention monies under the CCA are trust property. In Burt v Grant [2025] NZHC 2486, the High Court has held that as a consequence, retention monies are to be held separately from a company’s assets in liquidation. Liquidators cannot treat recovered retention sums as company assets, nor apply them to their fees or use them to satisfy other creditors. The Court reinforced that retention monies are held on trust for a subcontractor from the moment it is deducted from a payment, regardless of whether it is held…

Michael Duke Thomson remembers leaving the high-limit blackjack room at the Aria Resort & Casino around midnight with a few thousand dollars in chips. He doesn’t remember anything else after that.

Thomson, according to a federal lawsuit deal detailed by The Independent, allegedly went on an epic The Hangover-style rager that he doesn’t remember at all—because he may not have actually done it.

According to a federal complaint, the next thing Thomson knew, he was waking up the next morning, handcuffed in a casino security holding area. He had been banned from the property and would eventually face felony charges tied to $75,000 in casino debt he insists he never knowingly accrued.

Thompson is a 64-year-old licensed…

(InvestigateTV) — It is scary when a credit card bill is due and there is not enough money to make a payment.

Cherry Dale, the vice president of financial education at Virginia Credit Union, said the worst thing to do is not address it.

Dale said don’t pretend like it isn’t happening and think this through. Is this a one-time situation or a larger problem that going to keep happening?

“Because if it’s one time in a month, you can call your creditor, tell them the kind of situation, most creditors will work with you and help you,” she shared. “If this is something happening every single month, that you’re having an issue paying your bills or a bill, you need to come up with another plan.”

If this is a bigger issue and…

Inland Revenue made applications to wind up more than 120 business in November, as it draws to the end of a year in which it moved to liquidate almost 900 businesses with tax owing.

Keaton Pronk, an insolvency practitioner at McDonald Vague, said the 167 winding up applications in November, including 127 from IRD, was the highest in six years. It included a group of 45 sushi companies.

For the year to November, Inland Revenue (IRD) applied to wind up just under 900 companies.

“In January they had advertised 100 which was massive compared to what they had done in previously Januaries.

“They always ramp up towards the end of the year…