Sir Bradley Wiggins, the first Briton to win the Tour de France, has been declared bankrupt amid financial difficulties with his businesses. The cyclist, who also won eight Olympic medals, including five golds, has had a troubled relationship with his business ventures since retiring in 2016. Wiggins Rights Limited, which owns the trademarks to Bradley…
DetailsBanned NBA player Jontay Porter intentionally removed himself from games as a way to pay back “large gambling debts” according to a complaint filed in US District Court for the Eastern District of New York. One of Porter’s “co-conspirators” was arrested on Monday (3 June) and appeared in court the following day. Long Phi Pham,…
DetailsA 16-year-old Melbourne boy was able to gamble nearly $100,000, including at suburban pubs, despite his mother desperately seeking help, a court has heard. The Melbourne magistrates court heard that when his mother discovered his gambling habits, she began a frantic mission to get him help, only to be repeatedly turned away. In April last…
DetailsLast week I scored a trifecta, managing to upset people in three ways. First, for my supposed anti-immigration stance, second, for hating on Elon Musk (the bromance is still strong with some readers, even though his car company is as bad as the rest in terms of spying on drivers) and, finally, from animal lovers…
DetailsRetailers are increasingly considering redundancy and restructuring options, as economic headwinds and trading costs hit the bottom line. Ragtrader can reveal the workplace relations team at the National Retail Association has fielded more than double the number of retailer enquiries pertaining to redundancy and restructure from 1 January 2024 to May 2024, compared with the…
DetailsAustralia has not been immune to the economic impacts of global financial and geopolitical events. The recent global economic downturn has brought about a heightened focus on financial stability and risk management in Australian businesses. Sponsors and financiers alike are now navigating a complex economic terrain marked by: volatile markets; supply chain disruptions; asset re-valuations;…
DetailsAnne Marie Aaronson Dilworth Paxson Philadelphia Business Litigation, esp. Bankruptcy & Reorganization Derek Abbott Morris Nichols Wilmington Bankruptcy & Reorganization, esp. Litigation Jonathan Aberman Locke Lord Chicago Bankruptcy, Restructuring & Litigation Jacob A. Adlerstein Paul Weiss New York Bankruptcy & Corporate Restructuring David A. Agay McDonald Hopkins Chicago Business Restructuring Rachel Ehrlich Albanese DLA Piper…
DetailsWith businesses collapsing at levels not seen since 2012, Grant Thornton Australias John McInerney suggested that the small business restructuring scheme could be a more favourable option than a payment plan. He made the comments ahead of his session at the ACE24 Accounting Conference and Expo 2024, where he will unpack how accountants can help…
DetailsWhat is the Small Business Restructuring process? Australias Small Business Restructuring (SBR) process is a formal insolvency process introduced by the Federal Government in 2021 to give small businesses the opportunity to restructure their debts while directors remain in control of the business, under the supervision of a restructuring practitioner. The SBR process involves a…
DetailsThe Albanese Government has botched its Budget commitment to cut student debt for three million Australians with the ATO confirming HELP loans will rise by 4.7 per cent from 1 June 2024, rather than the 4 per cent increase Labor promised. Shadow Minister for Education, Sarah Henderson, said Labors go-slow on student debt reform means…
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