Distressed US companies are increasingly resorting to debt restructurings to avoid expensive bankruptcy proceedings, but many borrowers ultimately end up in court anyway with their deals amounting to little more than can-kicking exercises. Almost three-quarters of US corporate debt defaults last year were out-of-court distressed exchanges, where a company offers creditors assets worth less than…
HONG KONG, April 27 (Reuters) – China Evergrande Group (3333.HK) will get a signal on Thursday of the level of creditor backing for its offshore debt restructuring proposal, with investors to be given an incentive for early support. While some major creditors have already agreed to support the restructuring proposal, others are eager to cut…
“Leaving to one side the inexcusable issues associated with Crown Melbourne encouraging a gambling addict, who was already experiencing financial harm, to chase his losses and repay a gambling debt out of any future winnings, this example serves to demonstrate why it is that the use of cheques at the Melbourne Casino must be strictly…
“Leaving to one side the inexcusable issues associated with Crown Melbourne encouraging a gambling addict, who was already experiencing financial harm, to chase his losses and repay a gambling debt out of any future winnings, this example serves to demonstrate why it is that the use of cheques at the Melbourne Casino must be strictly…
HONG KONG, April 27 (Reuters) – Embattled property developer China Evergrande Group (3333.HK) will get a signal on Thursday of the level of creditor backing for its offshore debt restructuring proposal, with investors to be given an incentive for early support. While some major creditors have already agreed to support the restructuring proposal, others are…
Apr 27, 2023 A $30m fine for “serious” bank cheque breaches is the latest penalty imposed on the casino operator. -AAP Image Crown has been fined $30 million for letting Melbourne gamblers deposit bank cheques made out to themselves, breaching problem gambling and money laundering controls. Victoria’s 2021 royal commission into the casino giant found…
Crown has been fined $30 million for letting Melbourne gamblers deposit bank cheques made out to themselves, breaching problem gambling and money laundering controls. Victoria’s 2021 royal commission into the casino giant found Crown allowed patrons to gamble by depositing uncleared bank cheques made out in their names and not the company’s. Casinos can only…
Courgettes former owner and chef James Mussillon. Photo: Supplied. Award-winning Canberra restaurant Courgette has gone into voluntary administration as of Wednesday (26 April), according to Australian Securities and Investments Commission records, although the business is continuing to trade as usual and is encouraging customers to keep their reservations. This comes just weeks after its former…