Financial institutions should help the beleaguered tourism industry by alleviating operators’ debt service burden for three years and encouraging businesses to maximise capability for a future revival, says a former tourism and sports minister. “If we believe Thai tourism still has a future, such a policy is essential,” said senator Weerasak Kowsurat. “We hope that…
DetailsNEW DELHI/ MUMBAI: Delhi High Court on Thursday stayed personal bankruptcy proceedings against Anil Ambani, chairman of Reliance Group, even as it restrained him from selling or transferring any of his personal assets. The order comes as great relief for Ambani, who had moved the high court on Wednesday against the appointment of a resolution…
DetailsPret a Manger has announced it axed 2,800 roles from its shops after completing a restructuring of its business in the UK. The coffee and sandwich chain, which once boasted more than 450 sites across the UK with the majority focussed in London, has struggled for footfall in the wake of the coronavirus pandemic with…
DetailsCHICAGO (AP) A 79-year-old used car dealer fatally shot a 40-year acquaintance during an argument over a gambling debt, Cook County prosecutors said Saturday. The Chicago Tribune reports that James Kelley, 72, was killed by a gunshot wound to the back about 3:25 p.m. Wednesday at Dunmore’s Auto Sales in Chicago’s Grand Crossing neighborhood. Willie…
DetailsTelkom Kenya revealed a number of new strategic focus areas as part of a business restructure being conducted in the wake of a decision to call off plans to merge with rival Airtel Kenya earlier this month. In a statement, Telkom Kenya CEO Mugo Kibati outlined the companys future plans, as part of a long-term…
DetailsThe gambling industry is going strong. The UK Gambling Commission reports gambling participation has climbed slowly but steadily for the past five years, with small losses in in-person gambling offset by gains in online gaming, especially during the Covid-19 pandemic. Every week, millions of people visit a bookmaker or log on to a casino website…
DetailsOpening Remarks by Mrs. Elsie Addo Awadzi, 2nd Deputy Governor of the Bank of Ghana Ghana Association of Restructuring and Insolvency Advisors (GARIA) Webinar on the Corporate Insolvency and Restructuring Act, 2020 (Act 1015) 26th August 2020 Members of the Governing Council and Executives of GARIA Distinguished GARIA Members Distinguished Resource Persons Invited Guests, Ladies…
DetailsIn a big relief to Reliance Group Chairman Anil Ambani, the Delhi High Court on Thursday stayed Insolvency & Bankruptcy Code (IBC) proceedings against the tycoon in a matter pertaining to a personal guarantee given by him against a loan taken from State Bank of India (SBI) by Reliance Communications Ltd (RCom) and Reliance Infratel…
DetailsAfter the murder of insolvency administrator Mrti Bunkus, two of his safes in SEB Bank and ABLV Bank were emptied, Ir magazine reports with reference to sources. Both of the safes in question were registered on the name of Bunkus grandmother, but her grandson was the one who used them. In ABLV Bank Bunkus used…
DetailsAn Albury businessman has been declared bankrupt in a win for the Commonwealth which says he owes it more than $10 million following a long-running court battle. The Commonwealth had applied to the Federal Court for a sequestration order against Allan Paul Endresz . He opposed it on a number of grounds, including a submission…
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