Gamblers lost £13.6 billion through betting between April 2015 and March 2016, according to a Gambling Commission report, up nearly 21 per cent from the previous period. Remote gambling using a phone or computer to bet or play bingo and casino games online is now the largest sector in the industry, accounting for almost £4.5…
Rolls-Royce has today announced plans to accelerate the transformation of its Marine business as a result of continuing weakness in the maritime market. Rolls-Royces Marine business supplies a range of technology and services to customers operating merchant, offshore and naval vessels. Planned measures include a further simplification of the structure of the business, with a…
MICHIGAN CITY, Ind.–(BUSINESS WIRE)–(NASDAQ: HBNC) Horizon Bancorp (the Company or Horizon) announced a series of balance sheet restructuring transactions that are expected to improve its overall financial position, including an increase in net interest margin, return on average assets, and return on average equity. The transactions include prepaying $106 million of high fixed-rate borrowings with…
BOULOGNE-BILLANCOURT, France–(BUSINESS WIRE)–Regulatory News: Approval of the revised financial restructuring plan by creditors SoLocal Group (Paris:LOCAL) announces that more than two-thirds of the creditors have approved today its revised financial restructuring plan. The plan will now be submitted to the vote of shareholders at the Extraordinary General Shareholders Meeting on 15 December 2016, which will…
Students will see more of their debts forgiven than previously thought. An estimated $108 billion or more in student loans will be forgiven over the next 10 to 20 years, thanks to federal programs that help ease the financial burden for those attending higher education institutions. That figure is roughly one-third of the $352 billion…
MUMBAI: Legislative changes are combining with the stress of the shock demonetising of high value notes to corner corporate defaulters, cozy after declaring themselves as sick units, because they are finally finding themselves within a striking distance of their creditors, with the disbanding of the Board of Industrial and Financial Reconstruction (BIFR). Cases listed before…
FOUR years ago, Sunshine Coast developer Scott Juniper raced after the family Range Rover as it was being repossessed to get his daughter’s baby seat out of the back. Only weeks earlier, he had obtained the paperwork to register for active bankruptcy with debts totalling $72 million. He handed in the paperwork on his 40th…
18:43 01 December 2016 The Insolvency Service said the company had not paid taxes in five years (c) Stockbyte The county court has banned a 59-year-old Bury St Edmunds builder from directing a company after he dodged taxes and failed to keep accounting records. … Read the full article at: http://www.eadt.co.uk/news/stephen_martin_from_bury_st_edmunds_banned_from_being_a_company_director_for_eight_years_1_4801646
Federal judges have consolidated dozens of lawsuits alleging the blockbuster antipsychotic drug Abilify (aripiprazole) caused compulsive gambling, sex addiction and other disorders. U.S. District Judge M. Casey Rodgers will preside over about 43 compulsive-behavior lawsuits in multi-district litigation in the Pensacola-based Northern District of Florida. Plaintiffs allege the drugs makers, Bristol-Myers Squibb and Otsuka Pharmaceuticals,…
The government has notified the final regulations related to the insolvency resolution process under the Insolvency and Bankruptcy Code 2016. With the notification issued on Wednesday, the Insolvency and Bankruptcy Board (IBBI) became operational on Thursday. The IBBI, chaired by M.S. Sahoo, will act as the regulator of an ecosystem including insolvency professionals, agencies, and…