Mr Banks – the self-confessed 'Bad Boy of Brexit' – told The Mail on Sunday: 'I'm fuming. Mr Edmonds has run off to a lush part of New Zealand with my money, dishonestly trying to hide from his debtors. We backed him when no one else would in his fight with the banks, he won and then he headed for New Zealand without even acknowledging his debt to me and my company. No deal is not an option – cough up, or I will drag you back to the UK to face the music.' … [Read more...] about Noel Edmonds is accused of running off to New Zealand to avoid paying £1million debt to Bad Boy Brexit creditor Arron Banks – who says: ‘No Deal is not an option!’
Onward, led by a former senior adviser to Theresa May – and with close links to the Treasury and an advisory board packed with Tory grandees – said debts built up during lockdown could push 4.3% of UK firms – employing 1.8 million people – into technical insolvency. … [Read more...] about Thinktank calls for Sunak to help ‘zombie firms’ struggling with debt
But standstills will not solve the systemic problem of excessive indebtedness. For that, we urgently need deep debt restructuring. History shows that for many countries, a restructuring that is too little, too late merely sets the stage for another crisis. And Argentina’s long struggle to restructure its debt in the face of recalcitrant, shortsighted, hard-headed, and hard-hearted private creditors has shown that collective-action clauses designed to facilitate restructuring are not as effective as had been hoped. … [Read more...] about A global debt crisis is looming – how can we prevent it?
The Florentine fashion entrepreneur, named after his great grandfather, the world famous fashion label’s founder, is accused of removing hundreds of thousands of pounds from the coffers of his own fashion company to pay off personal debts, before declaring bankruptcy. … [Read more...] about Gucci heir arrested over alleged £650,000 fraud after ’emptying coffers of his fashion company to pay personal debts’
With the coalition in tatters, the opposition Smer party, led by former prime minister Robert Fico, are widely expected to vote for the measure next time. Fico, who would like his old job back, has said he supported the bill on an ideological level but refused to help Radicova unless she promised either a radical cabinet reshuffle or fresh elections. With the latter now firmly on the cards, his party will almost certainly vote for the bailout. "Slovakia has to approve the fund," he said. … [Read more...] about Slovakia rejects multibillion euro bailout fund to deal with debt crisis