image copyrightPatrick Fosterimage captionPatrick Foster had nearly 250,000 of gambling debts before his family sent him to rehab Patrick Foster hit rock bottom in March 2018. The teacher had racked up huge gambling debts and could not see a way forward. Looking back on his life, the 33-year-old recalled placing his first bet at university.…
DetailsActivision Blizzard Esports today will announce a restructuring that will result in the layoffs of about 50 people, moves that top executive Tony Petitti says are a result of how the group has had to re-invent itself amid the coronavirus pandemic. In an interview this morning with SBJ/TEO, Petitti didnt divulge specifics on what roles…
DetailsTHE AUSTRALIAN operations of Greensill Capital officially ceased at 5pm on Monday, raising questions about impacts to Australian agricultural companies which accessed supply chain finance through firm. It is understood Greensill Australia employed about 40 staff, based mainly in Sydney, who were advised of their retrenchments with immediate affect yesterday. Parent company Greensill Capital filed…
DetailsBy Wayne Robinson | 17 March 2021 Adelaide-based outfit Max Print Group is in voluntary administration, the five-year-old business now in the hands of the Dissolve Group. Gone: Max Printer Its ownership changed hands nine months ago, with Ting Kong taking over from Goawei and Gaohui Shi in June last year. The company operated from…
DetailsTwo men were remanded to police custody on Monday for the murder of a former local politician from Mohan nagar area of Pimpri-Chinchwad after fallout of a gambling debt on March 9, according to Krishna Prakash, commissioner of Pimpri-Chinchwad police. The deceased man was identified as Vijay Surve (40), a resident of Mohan nagar area…
DetailsThe chief executive of Capita will on Wednesday unveil a fresh restructuring of the embattled outsourcer alongside a plan to raise 400m from a string of disposals. Sky News has learnt that the company, which is responsible for collecting the television licence fee and recruiting Army personnel, will announce alongside annual results that it will…
DetailsA small business financial counsellor is urging small and family businesses in Mackay to seek help urgently if they deferred debt during the pandemic. Financial management expert Kristy Wilson encouraged businesses owners to be on the front foot so they can survive the next 12 months. The Rural Financial Counselling Service North Queensland is funded…
DetailsIn war, as the saying goes, truth is often the first casualty. During the pandemic and its economic shocks, however, truth has become a blessing for some. Take the African country of Chad. When its debt levels grew too onerous late last year, it was forthcoming with creditors about its finances. By February, the International…
DetailsTuesday, March 16, 2021 This article summarises the findings of the High Court inRe gategroup Guarantee Limited [2021] EWHC 304 (Ch) (Re gategroup Guarantee Limited)and provides a view of its effects on the cross-border application of the Restructuring Plan (defined below) and the use of co-obligor structures in restructurings. IN DEPTH The Restructuring Plan The…
DetailsA German court on Tuesday declared that a small bank tied to a collapsed U.K. finance company was insolvent, triggering losses for dozens of small German towns. Greensill Bank AG was deemed insolvent by a local court, leaving the towns as creditors that will likely sustain losses. Around Germany, at least 12 towns with a…
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