An ex-marine blackmailed a “petrified” company director at his family home about an alleged $32m debt, a court heard. Cardiff Crown Court heard Dominic Welsh placed his alleged victim’s family under surveillance and threatened violence in an attempt to recover money his employers believed they were owed. Prosecutor Christopher Rees suggested the defendant was prepared to use “any means necessary” to get the money. Welsh, 49, who was living in Cape Town, South Africa, denies making an unwarranted demand of money with menaces and is on trial. The charge relates to August 2017 and the complainant is Christopher Hamilton – a director for more than a dozen companies in the UK and abroad. Prosecutors allege American businessman Gilbert Armentar and his associate William Morro hired Welsh to recover funds they believed they were owed. Mr Rees said: “They chose to instruct the defendant, a man with a military background, to secure the return of the … [Read more...] about Ex-marine accused of blackmailing director over alleged $32m debt
Debt
Greece secures debt relief from eurozone after delay
Eurozone finance ministers released long delayed debt relief to Greece on Friday, saying the government had implemented reforms promised during the massive bailout that ended last year. Greece exited its third and final international bailout in August, a turning point in its progress out of the catastrophe that engulfed the country during the debt crisis. But the Greek government had failed to complete politically sensitive reforms such as changes to housing foreclosure rules that spooked families struggling with mortgages on their homes. "All in all, Greece has done what was necessary to respect its commitments. The decision gives a new, very strong signal to the markets," said EU Economics Affairs Commissioner Pierre Moscovici after talks with ministers in Bucharest. In a statement, the Eurogroup of eurozone finance ministers accepted the view that "Greece has taken the necessary actions to achieve all specific reform commitments." This meant that the "conditions are in place" to … [Read more...] about Greece secures debt relief from eurozone after delay
Eurozone agrees to EUR 1 bn in debt relief to Greece
EU Economic Affairs Commissioner Pierre Moscovici announced at the ECOFIN summit in Bucharest on Friday that eurozone finance ministers have agreed to an almost EUR 1 billion debt relief to Greece as they found that the government had implemented the required reforms after the bailout that ended last year. Since the end of the bailout in August, Greece has been monitored for reforms demanded by the EU, including changes to legislation on banks’ bad debt recovery. Last month, Athens issued a ten-year bond, the first major borrowing effort since its debt crisis, according to RTE. “All in all, Greece has done what was necessary to respect its commitments. The decision gives a new, very strong signal to the markets,” said EU Economics Affairs Commissioner Pierre Moscovici after talks with ministers in Bucharest. Today’s grant is the first disbursement from a total package of EUR 4.8 billion pledged by the eurozone to Greece until 2022, as long as Athens continues … [Read more...] about Eurozone agrees to EUR 1 bn in debt relief to Greece
Preston Guild Hall debt claims: Promoter is considering applying for a winding up order over allegations venue owes him £10,000 for celebrity chef show
A second promoter who claims he is owed money by Preston Guild Hall says he is “running out of patience” with the venue. Graham Pullen, managing director of Special Projects Live, promoted a live show by celebrity chef and broadcaster James Martin at the Guild Hall in October. Documents seen by the Post indicate a debt for ticket sales of £10,743 is being claimed via a statutory demand, presented on February 5. It comes after BKL, which staged Blood Brothers at the venue last September, said it had also served a statutory demand on March 19, over an alleged debt of nearly £70,000 ticket sales. READ MORE: Preston Guild Hall officially served with a statutory demand for an alleged £70,000 debtMr Pullen says he has not been paid within the required 21 days since issuing his demand - and the deadline has now past. This means he could now formally launch a wind-up order against the company. But he said: “I haven’t pressed the button yet - because … [Read more...] about Preston Guild Hall debt claims: Promoter is considering applying for a winding up order over allegations venue owes him £10,000 for celebrity chef show
Germany to press for tax cooperation, debt transparency at IMF/G20…
BERLIN (Reuters) - German Finance Minister Olaf Scholz will urge financial leaders next week to strive for a minimum level of corporate taxation globally and increase debt transparency in developing countries, a senior German government official said on Friday. FILE PHOTO: Finance Minister Olaf Scholz addresses a news conference to present the budget plans for 2019 and the upcoming years in Berlin, Germany March 20, 2019. REUTERS/Fabrizio Bensch The talks in Washington will be dominated by political risks such as trade disputes and Britain’s departure from the European Union, said the government official who spoke on condition of anonymity. Scholz, who is likely to face calls to increase fiscal stimulus to counter the effect of a slowing economy, will tell allies that Germany’s large current account surplus will shrink gradually due to vibrant domestic demand, rising real wages and increased state spending, the official added. “This won’t happen … [Read more...] about Germany to press for tax cooperation, debt transparency at IMF/G20…