Police have arrested 14 people allegedly involved in an online gambling network, in which serial cyanide murder suspect Sararat Rangsiwuthaporn and her husband, Pol Lt-Col Vitoon, were regular customers, Pol Gen Surachate Hakparn, the deputy national police chief, told the media today (Friday). He said that the couple had incurred a huge amount of debt…
DetailsSo what happens if creditors do not accept the plan? The directors can then consider options that include Voluntary Administration or the simplified liquidation process. Of course, there are safeguards designed to protect creditors from abuse of the process including: Where the liquidator forms the view the company or a director has engaged in fraud…
DetailsThe Biden administration has begun the process of creating a new plan for widespread loan cancellation and implementing the SAVE Plan, which will cut monthly payments to $0 for millions of borrowers. There will also be a 12-month on-ramp period to ease borrowers back into making payments. On June 30, the Supreme Court struck down…
DetailsThe future of a major private hospital in the New South Wales central west has been secured but not without job losses. Key points: Ramsay Health Care buys Orange Private Hospital after it enters voluntary administration Six managerial staff members have lost their jobs, however all clinical staff have been retained The Australian Patients Association raises concerns about the…
DetailsThe service will support prisoners with historical debt, such as any rent arrears, mobile phone or utility bill debts that they have incurred whilst being in prison as well as any debts that have built up through minimum payments with any credit cards not being met. The debt advice scheme offers one to one support…
DetailsJohns gambling addiction began when he was in his mid-20s. He had always enjoyed playing poker and other card games with his friends, but his interest in gambling soon became a full-blown addiction. John began spending more and more time and money gambling, often betting on sports games and horse races. Despite numerous losses, John…
DetailsThe Insolvency Service Published 18 July 2023 Contents 1. Main Messages for England and Wales 2. Things you need to know about this release 3. Company and Individual Insolvencies in England and Wales 4. Company Insolvencies in Scotland 5. Company and Individual Insolvencies in Northern Ireland 6. Data and Methodology 7. Glossary Print this page…
DetailsAs interest rates have risen and credit markets have tightened, many public companies formed via the de-SPAC process are trading far below their initial price. By some estimates, close to 100 of these companies lack sufficient liquidity to fund their current level of spending over the next year. To date, at least a dozen of…
DetailsApproximately 2,580 federal student loan borrowers in Rhode Island are eligible for debt relief under the Biden Administrations initiative to correct past servicing errors and the number of payments that count towards loan forgiveness under income-driven repayment (IDR) for student loans. Rhode Islanders could receive $109 million in IDR forgiveness. The White House estimates these…
DetailsThursday, July 20, 2023 After a 10-month inquiry process, on 12 July 2023 the Parliamentary Joint Committee on Corporations and Financial Services (PJC) delivered its final report on the effectiveness of Australias corporate insolvency laws. In this alert, we distil some of the key findings from the almost 400-page report and consider what future law…
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