A Maryland casinos objection to a Virginia debtors repayment plan because of a marker he owed the casino was sustained, despite a Virginia code prohibition making gaming contracts void, because Virginias public policy against enforcing gambling debts is no longer so fundamental so as to void the agreement. Background This matter came before…
DetailsBlink and youll miss itbut some high-street companies are finding ways to reduce their business rate bills. Last week two retailers proposed to ease their business rates burden using company voluntary arrangements, or CVAs, an early-stage insolvency mechanism where businesses seek better terms with creditors. Debenhams, the department store chain, is looking for a 48-50…
DetailsTolls, pot, gambling, debt and taxes. They are among the most contentious issues in what has been an intriguing first legislative session with Ned Lamont as governor. But with five weeks left in the session, Democratic lawmakers have yet to vote on the top policy changes that they and Lamont have proposed. Bills on these…
DetailsSir Philip Green is battling to rescue his Topshop empire from collapse and time is running out. The billionaires Arcadia group, which employs about 19,000 people, is desperate to secure a rescue restructure that will involve the closure of about 50 of the groups 570 British stores. If a deal cannot be agreed well before…
DetailsCommittees of Creditors (CoCs) should provide all relevant information and share their vision for companies under the insolvency process, a senior official said on Saturday as he asserted that it will be dangerous to let viable firms to close down. Amid rising number of stressed assets being referred for resolution under the Insolvency and Bankruptcy…
DetailsDetails of an ongoing scam within the Netherlands have been published by the Authority for Consumers and Markets (ACM). Reports suggest that the scam seeks to claim back non-existing gambling debts from Dutch consumers. The Authority has revealed that companies Bailiff Smits and Co, Inter Payment Service and Lootsma and Partners, are all involved as…
DetailsA business regulation agency based in The Hague has released information regarding a scam that claims fake gambling debts from consumers. Pressurizing people to pay The Netherlands Authority for Consumers and Markets (ACM) has namedLootsma and Partners, Bailiff Smits and CoandInter Payment Service as the collection companies involved in the scam, according to a report…
DetailsRelated Story: Police allege Sydney Asian crime syndicate linked to Newcastle drug house Related Story: Police struggle to stop vast cannabis grow house syndicates Two men acting as crop-sitters after being leant on by loan sharks or debt collectors, are the latest to be jailed in Newcastle over drug…
DetailsSenator Elizabeth Warrens presidential campaign Friday released an interactive tool to help voters determine how much of their student debt would disappear under her ambitious proposal to cancel up to $50,000 in outstanding loans for college graduates in the red. The online calculator tool, on the Massachusetts Democrats campaign website, asks users to answer a…
DetailsBy Roberta Kwok When a major recession hits, many consumers have the same thought: cut spending. Around them they see layoffs, plunging house prices, income stagnation, and a shrinking credit supply. Their collective belt-tightening fuels the economys downward spiral, leading to even more unemployment. Paul Goldsmith-Pinkham, an assistant professor of finance at Yale SOM, wondered…
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