NEW YORK, Jan 3 (Reuters) – Sam Bankman-Fried is expected on Tuesday to enter a plea of not guilty to criminal charges that he cheated investors and looted billions of dollars at his now-bankrupt FTX cryptocurrency exchange, according to a source familiar with the matter. Bankman-Fried is accused of illegally using FTX customer deposits to…
DetailsLONDON, Jan. 3, 2023 /PRNewswire/ — Winston & Strawn LLP is pleased to announce the expansion of the firm’s restructuring team with the addition of Partner Paul Fleming to lead the Restructuring & Insolvency Practice in the firm’s London office. Paul has more than 25 years’ experience in advising creditors (including institutional lenders and bondholders),…
DetailsAustralian sustainable eco-friendly retailer Ecolateral has collapsed into voluntary administration after a challenging 12-month period. Jamie Stott, CEO of Ecolateral, said in a LinkedIn post that the current economic climate and future outlook have led to this heartbreaking decision to call in administrators. I regret to announce following the closure of our Blackwood store two…
DetailsAt a time when Macau casinos just started operation under their new licenses as of January 1st, 2023, the stakes on whether they will manage to successfully deliver on the gambling hubs Government mandate to diversify their offerings with non-gambling services remain high. For the past two decades, the casinos of Wynn Macau, SJM Holdings,…
DetailsAustralian sustainable eco-friendly retailer Ecolateral has collapsed into voluntary administration after a challenging 12-month period. Jamie Stott, CEO of Ecolateral, said in a LinkedIn post that the current economic climate and future outlook have led to this heartbreaking decision to call in administrators. I regret to announce following the closure of our Blackwood store two…
DetailsFollow us on Telegram for the latest updates: https://t.me/mothershipsg Jermaine Pennant, 39, has been declared bankrupt, major UK publications Daily Mail and The Sun reported. The former Arsenal and Liverpool star reportedly racked up debts of more than 1 million (S$1.62 million). Daily Mail reported that the former Premier League star owes money to creditors…
DetailsSummary Companies New casino licenses with shorter contracts took effect Jan. 1 Operators suffered worst year on record in 2022 amid COVID-19 Challenges include diversifying from core gaming, labour shortages HONG KONG, Jan 3 (Reuters) – As casinos in Macau begin new licenses to operate in the worlds biggest gambling hub on Jan. 1, the…
DetailsThe petition has been filed for the “initiation of corporate insolvency resolution process against the company, claiming a debt and default of Rs. 211 crore towards royalty payable for utilization of literary and musical works”, the exchange filing noted. An operational creditor has filed an insolvency case against Zee Entertainment Enterprises Ltd for allegedly defaulting…
DetailsCanberra Centre stores open after COVID-19 lockdown. Photo: Thomas Lucraft. After enduring eight interest rate hikes since May, and with analysts predicting more to come, the financial pressure on individuals and business owners is set to continue. Personal budgets and business cashflows have already taken a hit due to increasing loan repayments, especially frustrating given…
DetailsThe government will examine suggestions to let shareholders of large defaulters retain control of the businesses while exploring fresh investments and corporate restructuring with its lenders outside bankruptcy tribunals, in a major change to the Insolvency and Bankruptcy Code (IBC). The ministry of corporate affairs insolvency law committee, comprising officials and independent experts, will examine…
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