Latest news with #debts
Zawya
4 days ago
- Business
- Zawya
Egypt settles $1bln in arrears to IOCs: Madbouly
Arab Finance: The Egyptian government has paid more than $1 billion of its debts to international oil companies (IOCs) operating in the country, Prime Minister Mostafa Madbouly announced. Madbouly added that the state plans to settle an additional $1.4 billion before the end of this year. The move aims to reduce financial burdens and increase the local production from national fields and resources, instead of relying on imports. He also affirmed Egypt's ability to secure energy, lauding its success in bringing liquefied natural gas (LNG) vessels into service, as they are connected to the national gas grid. The prime minister noted that there are three vessels in Ain Sokhna, but they are not operating at full capacity. However, they will meet the state's needs in case of any unexpected problems that could cause a disruption to Egyptian gas resources. Two additional vessels are scheduled to arrive soon at the Alexandria Port and the Jordanian Port of Aqaba, as an additional emergency measure for the summer. In a meeting with key ministers on July 13 th, Madbouly followed up on the procedures for securing the financial allocations required for the petroleum products needed to operate power plants. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
The Sun
13-07-2025
- Business
- The Sun
Sheffield Wednesday owner owes MILLIONS in football debts that will have to be paid by whoever buys club
SHEFFIELD WEDNESDAY owner Dejphon Chansiri owes more than £4million in football debts — which will have to be paid by whoever buys the club. The extent of the cash woes has emerged during takeover bids by several groups in recent weeks. 3 The Owls are already under embargo for missing pay days for players and failing to settle transfer bills. But the biggest snag is the taxman, with HMRC due a huge £2.2MILLION for June and July. There seems little scope for a deal there, so the cash will have to be found or serious action could come Wednesday's way. Chansiri hopes to raise funds by selling Djeidi Gassama to Rangers and Anthony Musaba to Turkish side Samsunspor. US sports entrepreneur Tilman Fertitta, 68, has made an offer to Chansiri. The cost of the deal is being kept secret and will be subject to the usual due diligence phase. Fertitta may lodge cash to help settle some bills in the short term as the process is bound to take weeks. But he seems a far more credible candidate than many who have chased the Yorkshire club ownership. 3 3 Fertitta has a basketball team in Houston, is an ally of Donald Trump, and is seen as a leading expert in business and sport. Chansiri says he is willing to sell the club to 'the right individual, or group, to take it forward'. The club's dire financial situation is now having an impact on a sporting level after six stars reportedly handed in notices, with Chansiri refusing to inject any more cash into the coffers. While manager Danny Rohl hasn't returned to pre-season training and is seeking a way out of his contract amidst interest from other clubs.
South China Morning Post
30-06-2025
- South China Morning Post
Hong Kong woman arrested on suspicion of doxxing married couple
A Hong Kong woman has been arrested for allegedly disclosing the personal information of a married couple on the internet and through fliers, following a financial dispute that erupted after the husband failed to repay debts owed to her. The Office of the Privacy Commissioner for Personal Data said on Monday that the suspect, 36, was a former friend of the man. In March, the man sent her photos of his identity card and his wife's 'Demand for Rates and/or Government Rent', an official bill for property taxes and land lease payments, via an instant messaging app to secure a loan from the suspect. However, the privacy watchdog did not reveal the amount involved. In early May, four posts demanding repayment from the couple appeared on a personal social media account. The posts allegedly included a photo of the man's identity card, revealing his Chinese and English names, Chinese commercial code, ID card number, date of birth, gender and photo.
Daily Mail
25-06-2025
- Business
- Daily Mail
Former Liverpool legend racks up debts of £1.5MILLION in media firm as documents reveal he has 'no funds' to pay off taxman after being hit with three-year company ban
Former England and Liverpool legend John Barnes has accumulated debts of over £1.5million in his media firm having been banned as company director for three-and-a-half years. The 61-year-old, who made 79 appearances for England and spent a decade at Anfield, owes the enormous sum to HMRC and other creditors. The ex-Newcastle and Watford star owes HMRC £776,878 in unpaid VAT, NI and PAYE, £461,849 to unsecured creditors, a £226,000 directors loan and liquidator's costs worth £56,535. He has so far paid back £60,000 after agreeing to return the directors loan in instalments. Barnes has received six separate bankruptcy petitions since 2010. The latest report states that a 'small distribution' towards the tax bill will be paid and that while 'no funds' will be available to pay unsecured creditors. The Liverpool legend spent a decade at Anfield where he scored 84 league goals in 314 games His company, John Barnes Media Limited, went into liquidation two years after failing to pay more than £190,000 in tax. Barnes was handed a three-and-a-half year ban from being a company director last April, meaning he is unable to be involved in the promotion, formation or management of a company without the permission of the court. An investigation by the Insolvency Service into Mr Barnes' conduct as a director began in September 2023, just over three years after the company ceased trading in January 2020. The investigation found that between November 2018 and October 2020, nothing was paid to HMRC in tax. Barnes was the sole director of the company, based in West Byfleet, Surrey, which described itself as offering media representation services and ceased trading in January 2020. He failed to pay £78,839 in corporation tax between August 2018 and January 2020, when the company ceased trading. The company also did not pay £115,272 in VAT between February 2019 and 2020. During this two-year period John Barnes Media's turnover was £441,798. John Barnes made 79 appearances for England in a 12-year international career until 1995 Last April, Mike Smith, chief investigator at the Insolvency Service, said: 'Individuals and businesses not paying the tax they should deprives the Government of the funding it needs to provide vital public services and investment in areas such as schools, hospitals and roads. 'John Barnes had a legal duty to ensure his company paid the correct amount of corporation tax or VAT. 'Instead, it paid no tax whatsoever between November 2018 and October 2020, despite receiving earnings of well over £400,000. 'This disqualification should serve as a deterrent to other directors that if you do not pay your taxes while directing money elsewhere, you are at risk of being banned. In a 2009 interview, he said: 'I don't like dealing with taxes, of course. I just hate not having enough money. Apart from that, I don't like dealing with bills and never have done.
The Sun
28-05-2025
- Business
- The Sun
Major energy suppliers hand out £1,000s in compensation over energy meter scandal
MAJOR energy suppliers will hand out £1000,'s in compensation. Tens of thousands of customers are set to receive thousands and see debts written off in response to the scandal over the force fitting of prepayment meters. It follows a review by the energy regulator Ofgem.
