Monthly Archives: February 2022

IOC honours Tracey Holmes for her journalism and leadership – About the ABC

Posted: February 5, 2022 at 5:13 am

Tracey Holmes

Friday4 February 2022

The International Olympic Committee has awarded ABC sports journalist Tracey Holmes the 2021 Women and Sports Award for Oceania.

Holmes is the first journalist to win the prestigious award, which theIOC said recognises hercontribution to reporting on womens sport and mentorship for the next generation of women sports journalists.

In 1989 I started a weekly segment on the ABC called Women in Sport, now the ABC has a 50:50 project for its coverage and the sports department is the standout performer, Holmes said.

This award is a tribute to all those women athletes and women sports administrators who persevered without money, coverage or recognition to create a world today where women in many countries can do and can be whatever they so choose.

It is also a tribute to my mother and father,from whom I learned we are all equal, and it is a tribute to all those many of them men who freely offered their mentorship and guidance throughout my career.

A trailblazer for 30 years, Holmes was the first woman to be appointed as a sports broadcast trainee at the ABC and went on to become the first female reporter in its national sports department and the first host, male or female, of a national sports program,ABC Grandstand. The Women in Sport program was influential in increasing coverage of womens sport in Australia.

As well as her broadcast and digital reporting Holmes hosts award-winning weekly sports show and podcast The Ticket. She is currently in Beijing reporting for the ABC on the Winter Olympics.

Kevan Gosper, honorary IOC member from Australia, said Holmess commitment to gender equality and the promotion of women in sports administration was integral to her professional work.

This is also an important acknowledgement by the IOC and the Women in Sport Commission recognising and rewarding the essential role the media play in how women in sport are portrayed and ensuring the equal coverage of womens sport and sportswomen by the media, he said.

More information is here.

Media contact: Sally Jackson | ABC Communications

jackson.sally@abc.net.au

See the article here:

IOC honours Tracey Holmes for her journalism and leadership - About the ABC

Posted in Oceania | Comments Off on IOC honours Tracey Holmes for her journalism and leadership – About the ABC

UTMB World Series ready to run into inaugural year, with addition of three events to confirmed 2022 calendar – Endurance Sportswire

Posted: at 5:13 am

February 2, 2022 -- Transvulcania by UTMB in Spain, Kullamannen by UTMB in Sweden, and Ultra-Trail Kosciuszko by UTMB in Australia join previously announced events for 2022 racing calendar --

(Chamonix, France) 2 February 2022/ENDURANCE SPORTSWIRE/ Just eight months after the concept was first launched, UTMB Group and The IRONMAN Group, organizers of the UTMB World Series have today confirmed a final calendar of 25 events across 16 different countries in Asia, Oceania, Europe, and the Americas for 2022. And, with the addition of three new events of Transvulcania by UTMB in Spain, Kullamannen by UTMB in Sweden, and Ultra-Trail Kosciuszko by UTMB in Australia, the countdown to the first event of the year is officially on. Watch the video here.

The UTMB World Series will officially get underway with Croatias biggest trail running race, Istria 100 by UTMB, from the 7-10 April. Over 2,000 runners are expected to line up at the first ever UTMB World Series Event, for what will also be the first chance to qualify for the UTMB World Series Finals in the OCC, CCC and UTMB races at UTMB Mont-Blanc 2023.

The top three male and female finishers in the 50K, 100K and 100M categories will win automatic entry into the corresponding final, while regular runners will be able to collect Running Stones which can be used as entries into the UTMB Mont-Blanc lottery. UTMB World Series Events are now the only place where participants can collect Running Stones in favour of the former points system and begin their journey to Chamonix, France. Find out more about registration for UTMB Mont-Blanc 2023, here.

Marie Sammons, UTMB World Series Sport and Regeneration Director, commented: The calendar for 2022 is exceptional and we are really excited to be working with such dedicated race organizers around the world who share our vision for excellence, inclusivity, comradery and accessibility. With 25 events in 2022, both amateur and elite runners around the world will be able to find a UTMB World Series Event closer to them, which for many will be the start of the journey to UTMB Mont-Blanc and the Finals. We look forward to welcoming athletes from across the globe to an event soon, and to delivering an unforgettable experience at the best races and in the most striking locations.

Three new events added, as calendar is revealed

Two of Europes leading events Transvulcania by UTMB in Spain and Kullamannen by UTMB in Sweden will further bolster the offering in the region with 16 events now confirmed across Europe. And runners in Australia will have more chances to live the UTMB experience Down Under with the confirmation of a second event in Australia, Ultra-Trail Kosciuszko by UTMB.

Transvulcania by UTMB prepares for a remarkable return to the trails

The 273-square-mile island of La Palma, the westernmost island of Spains Canary Islands, will host the renowned Transvulcania by UTMB from 20-23 October 2022.

Celebrating its 12th edition in 2022 the first since 2019 the event is set to return stronger than ever for what is expected to be a particularly poignant edition following a significant volcano eruption on the island in 2021.

With around 2,500 participants and a deep elite field expected, the pinnacle 74km race starts from the south tip of the island at El Faro de Fuencaliente before runners race for the sky and the islands highest point at 2,420-meters. Runners can expect a variety of dramatic volcanic landscapes interspersed with pine groves, before finishing with the infamous descent to city of Los Llanos de Aridane.

Distances of 44km, 22km and a 7.6km vertical challenge are also on offer. Registrations for this sell-out event will be open from the 1-28 March on the official website, with the results of the lottery announced on 4 April.

A technical test of true trail running grit at Kullamannen by UTMB

Kullamannen by UTMB is more than just a trail race. Described as heaven, sea and hell, it consists of several distances from 22km to 100-miles on the wild and beautiful peninsulas Bjre and Kullaberg situated on the south of Sweden by the sea.

A technical test of true trail running grit, the course takes runners through fantastic nature reserves, before finishing at the magical Kullaberg. The adventurous track runs through narrow winding mountain trails, beautiful beech forests, and coastal paths, where runners can hear the waves crashing even under the darkness of night.

A pure Swedish trail adventure, the 2022 edition will take place on 4-6 November 2022. Entries open on 4 February on the event website.

A brand-new adventure at Ultra-Trail Kosciuszko by UTMB

Runners will discover new heights Down Under at Ultra-Trail Kosciuszko by UTMB Australias newest trail running event that has the countrys highest peak at its centre.

Hosted by the ski resort of Thredbo in New South Wales, the event will showcase the very best of the Snowy Mountains, as runners traverse through the scenic Kosciuszko National Park across 100-mile, 100km, 50km and 20km distances. Alpine meadows, snow gum forests and crystal-clear streams will showcase local nature at its best while runners ascend to the highest point in Australia.

Developed by the team behind Ultra-Trail Australia by UTMB and New Zealands Tarawera Ultramarathon by UTMB, the inaugural Ultra-Trail Kosciuszko by UTMB will take place from 15-18 December 2022 and is expected to welcome 1,500 runners to experience Oceanias newest, premium trail running event. Visit the official website here for more information.

Runners can plan their season and choose their next UTMB World Series adventure here.

UTMB World Series 2022 calendar of events*

*Tarawera Ultramarathon by UTMB (NZ) and Gaoligong by UTMB (China) cancelled in 2022

QUOTES:

Xavier Pocino Mogo, CEO UTMB Iberia, Transvulcania by UTMB

We didnt have any doubts that Transvulcania by UTMB had to become part of the UTMB World Series. Its a high standard race that has its own magic thanks to its volcanic terrain from sea level to 2,500-metre-high peaks and thanks to its people. Transvulcania by UTMB is an exciting race and runners from all over the world highlight the passion that the local people project into this great event.

Per Sjgren, Co-founder, Kullamannen by UTMB

The spirit of Kullamannen is rooted in adventure, this is not just a trail run its a challenge that will push your soul and body to your limits. We are adventure-loving runners. Kullaberg on the west coast of southern Sweden has been our playground for training and adventure since we came here the first time on a school excursion in third grade. We are thrilled to be able to showcase the incredible location and race to the world as part of the UTMB World Series in 2022.

Geoff Meyer, Managing Director of Oceania for The IRONMAN Group, Ultra-Trail Kosciusko by UTMB

The UTMB World Series is the pinnacle of global trail running and were thrilled that Ultra-Trail Kosciuszko by UTMB has been selected to be a part of the inaugural series. Only the worlds best trail running events are a part of the UTMB World Series and we look forward to being a part of the series. Ultra-Trail Kosciuszko by UTMB has been designed with our entire trail running community in mind, with unrivalled support crew access, unique spectator points, and of course an unmistakeable trail running vibe. At the core of an event like this is providing the best possible running experience for participants and to ensure that weve left no stone unturned, the courses have been expertly crafted by Ultra-Trail Australia by UTMB founder Tom Landon-Smith, who is not only the countrys trail running expert but also lives in the region.

UTMB World Series

UTMB World Series is the worlds ultimate trail-running circuit that unites the sports biggest stars and amateur runners through the best, leading international events in the most stunning locations. Built on a passion for the mountains with sustainability at its heart, UTMB World Series gives all trail runners the chance to experience the UTMB adventure across the world, with events taking place across Asia, Oceania, Europe and the Americas in 2022. It is the only place where runners can begin their quest to UTMB Mont-Blanc, France, where the prestigious UTMB World Series Finals will be held. For more information, visit http://www.utmb.world.

UTMB Group

Over the last 18 years, and since the creation of UTMB Mont-Blanc in 2003 by a group of passionate friends, UTMB Group has been the driving force behind the development of trail running. The UTMB Mont-Blanc is the sports pinnacle event, and every year, 10,000 runners earn their place on the start line. UTMB Group also pioneered the LiveTrail technology, an innovative digital service that supports the management of endurance races. Revered by hundreds of thousands of athletes, UTMB has become a global, premium, and leading brand. In May 2021, UTMB Group partnered with The IRONMAN Group to launch the UTMB World Series, which from 2022, will bring together many of the best international events on the planet to provide exclusive access to the sports pinnacle event, UTMB Mont-Blanc. The UTMB World Series is built on the founding principles of UTMB Mont-Blanc: surpassing oneself; fair-play; respect for people and the environment; and solidarity. Find out more at http://www.utmb.world.

About The IRONMAN Group

The IRONMAN Group operates a global portfolio of events that includes the IRONMAN Triathlon Series, the IRONMAN 70.3 Triathlon Series, the IRONMAN Virtual Racing (VR) Series, 5150 Triathlon Series, the Rock n Roll Running Series, the Rock n Roll Virtual Running Series, IRONKIDS, World Triathlon Championship Series, premier running events including the Standard Chartered Singapore Marathon and The Sun-Herald City2Surf, UTMB World Series events including Tarawera Ultramarathon and Ultra-Trail Australia, mountain bike races including the Absa Cape Epic, road cycling events including Haute Route, and gravel racing like Gravel Epic, and other multisport races. The IRONMAN Group is the largest operator of mass participation sports in the world and provides more than a million participants annually the benefits of endurance sports through the companys vast offerings. Since the inception of the iconic IRONMAN brand and its first event in 1978, athletes have proven that ANYTHING IS POSSIBLE by crossing finish lines around the world. Beginning as a single race, The IRONMAN Group has grown to become a global sensation with hundreds of events across 55+ countries. The IRONMAN Group is owned by Advance, a private, family-owned business. For more information, visit http://www.ironman.com/about-ironman-group

CONTACT

UTMB World Series French & Swiss media enquiries:

presse@utmb.worldHugo Joyeux UTMB World Series Press Officer+33 4 50 53 47 51

UTMB World Series international media enquiries:

presse@utmb.worldSabina Mollart Rogerson International Press Officert: +44 7922 140148

nicola.dawson@utmb.worldNicola Dawson UTMB World Series Media & PR ManagerT: +44 7919051417

The IRONMAN Group media enquiries:

press@ironman.comDan Berglund

Read more from the original source:

UTMB World Series ready to run into inaugural year, with addition of three events to confirmed 2022 calendar - Endurance Sportswire

Posted in Oceania | Comments Off on UTMB World Series ready to run into inaugural year, with addition of three events to confirmed 2022 calendar – Endurance Sportswire

Caslick and Hutchison claim 2021 Shawn Mackay player of the year awards | Latest Rugby News | RUGBY.com.au – Rugby.com.au

Posted: at 5:13 am

Charlotte Caslick and Henry Hutchison have been named the 2021 Shawn Mackay Womens and Mens Sevens Players of the Year awards.

Named in memory of Shawn Mackays life and his contribution to Rugby, this award recipient is representative of both a mens and womens player who has demonstrated an outstanding commitment to their respective Sevens program, and whose level of sportsmanship and leadership upholds the values of Rugby.

Both players were standouts during the Australian Sevens 2021 campaign, most notably leading the charge at the Olympic Games in Tokyo.

Caslick kicked off Australias Olympic campaign, scoring the opening try on day one of competition and remained true to form the remainder of the campaign, finding the line against Japan, China and bronze medallists Fiji.

Following the Olympics, Caslick has since led the Australian Women to back-to-back titles in Dubai, accumulating 65 points in the opening two rounds.

Similarly, mens vice-captain Hutchison also returned to the Olympic stage following impressive performances in the lead up to the pinnacle event. Hutchison was instrumental in Australias success during the PacificAus Sport Oceania sevens in Townsville and has gone on to steer the Australians to a second-place finish on the World Series in Dubai.

Australian Sevens Performance Manager Scott Bowen said: Shawn represented everything we hope our program members can be both on and off the field, and this award holds a special place in the program.

Both Charlotte and Henry are leaders in every aspect of their game, from how they prepare, train and play and it is an example our younger squad members look up to.

Australian Womens Sevens player Charlotte Caslick said: Its an honour to be chosen for this award given all it represents.

While we didnt have the campaign we wanted in 2021, towards the end of the year we started to come together as a team and Im excited to play with such an incredible group as we progress through the World Series.

Rugby isnt a game of individual awards, but Im certainly honoured to be recognised by my peers and know Ill have a hard time retaining this honour next year.

Australian Mens Sevens player Henry Hutchison said: I am delighted to receive the Shawn Mackay award. To be recognised by your teammates for your contribution to the team is very humbling and is the greatest honour a player can receive.

Shawn typified what it meant to be an Australian 7s player and my father actually taught him at Waverley. So, the award is extra special to my family and myself.

2021 was a tough year and it didnt play out the way we wanted it to. However, there were so many learnings for our group, and this has added to our hunger as we look to make Rugby Australia, our fans and the country proud of this program moving forward.

There has been a massive attitude shift in this area of our group, and I cant wait to see where it takes us.

Their recognition is part of a week-long celebration of the Rugby Australia Awards which will culminate in the 2021 John Eales Medal being announced on Sunday morning (AEDT).

See the rest here:

Caslick and Hutchison claim 2021 Shawn Mackay player of the year awards | Latest Rugby News | RUGBY.com.au - Rugby.com.au

Posted in Oceania | Comments Off on Caslick and Hutchison claim 2021 Shawn Mackay player of the year awards | Latest Rugby News | RUGBY.com.au – Rugby.com.au

Interactive: Natural Disasters Around the World Since 1900 – Visual Capitalist

Posted: at 5:13 am

Global Deforestation and Forest Growth over 30 Years

Forests are the great carbon capturers of our planet, and they are a key source of wildlife habitats and vital resources for people around the world.

But deforestation is threatening this natural infrastructure, releasing carbon into the atmosphere while simultaneously reducing wildlife diversity and making our environment more susceptible to environmental disasters.

This graphic looks at global deforestation and forest growth over the past 30 years, mapping out the net forest change by country and region using data from the UNs Food and Agriculture Organization (FAO).

Today, forests make up around 31% of the Earths total land area, spanning 15.68 million square miles (40.6 million km). Over the past three decades, the world lost a bit more than 4% (685,300 square miles) of its forests, which equates to an area about half the size of India.

Europe and Asia were the only two regions which had significant overall forest growth during this time period, while Oceania saw no significant change and North and Central America saw a slight reduction.

Source: UN Food and Agriculture Organization

Africa along with South America and the Caribbean were the regions with the greatest amount of net forest loss, both losing more than 13% of their forests over the past 30 years. This is largely because these two regions have large amounts of forest area available, with the underlying land in high demand for agriculture and cattle-raising.

Although the overall forest loss around the world is massive, the rate of forest loss has slowed down over the past three decades. While an average of 30,116 square miles were lost each year between 1990 to 2000, between 2010 to 2020 that number has dropped to 18,146 square miles, showing that the rate of overall loss has fallen by almost 40%.

Despite an overall slowing down of forest loss, certain countries in South America along with the entirety of Africa are still showing an increase in the rate of forest loss. Its in these regions where most of the countries with the largest reduction in forest area are located:

Source: UN Food and Agriculture Organization

Brazil, home to most of the Amazon rainforest, saw 356,287 square miles of net forest loss, largely fueled by farmers using the land to raise cattle for beef. Its estimated that 80% of the deforested land area of the Amazon has been replaced with pastures, with the resulting beef production known to be among the worst meats for the environment in terms of carbon emissions.

The other great driver of deforestation is seed and palm oil agriculture. These oils account for about 20% of the worlds deforestation carbon emissions, and their production concentrated in Indonesia and Malaysia is now expanding to other Asian countries along with Africa.

While the demand for beef and palm oils drives deforestation, initiatives like the Central African Forest Initiative (CAFI) are providing incentives to protect forest land.

Select countries in the European Union along with the United Kingdom and South Korea have committed $494.7 million to six central African nations (Cameroon, Gabon, Central African Republic, Democratic Republic of the Congo, Equatorial Guinea, and the Republic of Congo) for them to preserve their forests and pursue low emission pathways for sustainable development. The initiative has seen $202 million transferred thus far and an anticipated reduction of 75 million tons of CO2 emissions.

Its estimated that forests absorb around 30% of the worlds carbon emissions each year, making them the greatest and most important carbon sinks we have on land. When you pair this with the fact that deforestation contributes around 12% of annual greenhouse gas emissions, the importance of forest preservation becomes even more clear.

But we often forget how much forests protect our environment by acting as natural buffers against extreme weather. Forests increase and ensure rainfall security, making nearby land areas significantly less susceptible to wildfires and natural droughts in hot and dry seasons along with flooding and landslides in wet seasons.

With every dollar invested in landscape restoration yielding up to $30 in benefits, reducing deforestation and investing in reforestation is considered an effective way to reduce the difficulty and costs of meeting climate and environmental protection goals. This is without even considering the benefits of maintaining the worlds largest wildlife habitat and source of species diversity, the home of the nearly 70 million indigenous people who live in forests, and the livelihood of 1.6 billion people who rely on forests every day.

Despite the short-term acceleration in forest loss seen in 2020, there have been positive signs about forest regrowth coming to light. A recent study found that previously deforested land can recuperate its soil fertility in about a decade, and layered plants, trees, and species diversity can recover in around 25-60 years.

Along with this, in some instances these regrowing secondary forests can absorb more carbon dioxide than primary forests, giving hope that a global reforestation effort can absorb more emissions than previously thought possible.

From better financial incentives for local farmers and ranchers to preserve forest area to larger scale policies and initiatives like CAFI, curbing deforestation and promoting reforestation requires a global effort. Reversing forest loss in the coming decades is a daunting but necessary step towards stabilizing the climate and preserving the environment that billions of animals and people rely on.

Read this article:

Interactive: Natural Disasters Around the World Since 1900 - Visual Capitalist

Posted in Oceania | Comments Off on Interactive: Natural Disasters Around the World Since 1900 – Visual Capitalist

U.S. Court Of Appeals and Bankruptcy Appellate Panel …

Posted: at 5:11 am

U.S. Court Of Appeals and Bankruptcy Appellate Panel - Ninth Circuit

SYSTEM DOWNTIMECM/ECF may be unavailable from midnight until 5:00 AM Pacific Time every Saturday for system maintenance.

IMPORTANT: Sharing your PACER and/or CM/ECF account credentials with a third-party service provider will provide access to sealed case information and documents in violation of applicable rules, statutes and/or orders of this court. It is your responsibility to ensure that sealed documents to which you have access are not improperly disclosed. Fee exempt users may not share the documents they obtain from PACER and/or CM/ECF under the exemption, unless expressly authorized by the court.

As of May 1, 2021, the court is processing all new petitions for review in immigration cases through the court's new Appellate Case Management System (ACMS). Filings in immigration petitions for review submitted on or before April 30, 2021 will be processed via CM/ECF unless the Court directs otherwise.

As of January 1, 2022, the court is processing all new Applications for Permission to File a Second or Successive Habeas Corpus Petition/Motion (SOS Applications) through the courts Appellate Case Management System (ACMS). Filings in SOS Applications submitted on or before December 31, 2021 will be processed via CM/ECF unless the Court directs otherwise.

To view documents, log in to PACER.

E-Filing in the U.S. Court of Appeals for the Ninth CircuitE-Filing in CM/ECFE-Filing in ACMS

Log in to Electronic Case Filing

To view documents using your PACER login, log in to PACER.

U.S. Bankruptcy Appellate Panel of the Ninth Circuit Electronic Case Filing

PACER Frequently Asked QuestionsRegister for an Account

Read more here:

U.S. Court Of Appeals and Bankruptcy Appellate Panel ...

Posted in Bankruptcy | Comments Off on U.S. Court Of Appeals and Bankruptcy Appellate Panel …

Brian Serpone takes the Fifth at Levee Breaks bankruptcy hearing – Cape Cod Times

Posted: at 5:11 am

YARMOUTHIf investors were hoping for clarity during a Jan. 19, telephone hearing in the bankruptcy case of Levee Breaks Investment Group, they didnt get it.

The purpose of the hearing, called a341 Meeting, is to establish the debtors, assets, liabilities, income, expenses, and other relevant financial circumstances in a bankruptcy case.

Bankruptcy Trustee David Madoff asked Brian Serpone,who owns Levee Breaks, a series of questionsto find out what happened to investors money, how and where it was spent, and even where he lived. Investors were allowed to ask their own questions.

Serpone didnt answer a single one, according to investor Nancy Marble. Hetook the Fifth to each and every question he was asked, she said.

The Fifth Amendment gives a person the right to refuse to answer questions that might incriminate them.

Levee Breaks bankruptcy: 5 properties for sale, 3 to be abandoned

Serpone even refused to answerwhen asked if 14 Rainbow Road, West Yarmouth, is his current address. The address is listed on the Secretary of States website for several of Serpones limited liability companies, including Headley Grange Investments LLC, Brian Serpone Productions LLC, Hope Music Foundation LLC, and The Residences at Woodcrest LLC.

The property at 14 Rainbow Road is assessed at $308,400, according to town records. The owner is listed as Mary Katherine Harmon who bought it from Richard and the lateKathleen Serpone, for $210,000 in 2015.

A technical glitch?: Yarmouth selectmen to discuss Music Room liquor license expiration

Levee Breaks, a Yarmouth-based limited liability corporation, filed for bankruptcy Oct. 22, 2021 in U.S Bankruptcy Court in Boston. Founded by Brian Serpone in 2015, Levee Breaks' business involved the construction, development, rehabilitation and sale of properties for the benefit of its members.

Members, or investors, were sold $10,000 and $20,000 promissory notes with a promised10% annualreturn on their investment. But those promissory notes turned out to be unregistered securities, andLevee Breaks was not registered with the state's Securities Division, as required by Massachusetts law, according to state regulators.

Brian Serpone: Music Room entertainment, liquor licenses suspended for violations

Since the October bankruptcy filing, more than 70 creditors, about 55 of whom are investors,have filed claims against the corporation. Some of those creditors are investors, and some are banks holding mortgages on the properties.

There have been $4.5 million in total claims filed in the bankruptcy case, of which $1.4 million are secured claims, Madoff said. The investors' claims are unsecured.

Madoff is still reviewing each claim to determine if the records are accurate.He has asked the bankruptcy court forpermission to hire a forensic accountant to review Levee Breaks' books and accounts to see if there was co-mingling of funds, or wrongful transfers made.

Cape Cod's labor woes: Affordable housing remains a roadblock to economic recovery in 2022

Thecourt has the authority to make sure that anything that should not have left the estate comes back into the estate, according to Professor Emeritus Michael Hillinger, who teaches consumer bankruptcy at the University of Massachusetts Law School. A trustees job is looking for all possible things a company did that can be recaptured for the benefit of the estate, he said.

There was a lot of money invested and a lot of money not accounted for, Madoff said about the Levee Breaks bankruptcy.

Storm damage: Sandwich Boardwalk takes a big hit, Bass Hole survives

Madoff was also appointed the trustee for Headley Grange LLCwhen that corporation filed for Chapter 7 bankruptcy in October 2021. Brian Serpone is the resident agent for Headley Grange. His address is listed as 14 Rainbow Roadin the LLCs certificate of organization in 2017.

The company was engaged in commercial and residential real estate development, acquisition, renovation, and sale.

Eight claims totaling $245,500 were filed in the Headley Grange bankruptcy case.

Contact Denise Coffey at dcoffey@capecodonline.com. Follow her on Twitter: @DeniseCoffeyCCT.

Original post:

Brian Serpone takes the Fifth at Levee Breaks bankruptcy hearing - Cape Cod Times

Posted in Bankruptcy | Comments Off on Brian Serpone takes the Fifth at Levee Breaks bankruptcy hearing – Cape Cod Times

Amid bankruptcy, breakfast remains off the table at Wilmington K&W – Greater Wilmington Business Journal

Posted: at 5:11 am

With seniors making up a good portion of its customer base, COVID-19 has had an outsized impact on K&W Cafeterias Inc., resulting in the Winston-Salem-based chain declaring Chapter 11 bankruptcy six months after the virus first emerged in North Carolina. Chapter 11 allows the restaurant to stay in business as it tries to reduce expenses and debt, which has led to corporate downsizing.

When the 1980s and 1990s saw the closing of many once-popular cafeterias, K&W was an outlier, growing its business across North Carolina and into Virginia.

At its height, the longtime purveyor of Southern comfort food and other cafeteria classics operated 35 restaurants, but that number had fallen to 18 when the pandemic emerged. It now stands at 11, including Wilmingtons K&W, at Hanover Center, which remains open but for fewer hours than in pre-COVID days.

A once-popular place for early morning business-, church- and civic-group meetings, the Wilmington K&W stopped serving breakfast in the early days of the pandemic, the receptionist on duty Tuesday said. K&W officials have not said if they plan to bring back breakfast post-pandemic and post-bankruptcy nor have they commented on the future of the 11 locations still open.

Shortly after K&W filed bankruptcy, an economics professor told the Winston-Salem Journal that the outlook for cafeterias and buffet restaurants was challenging, at best.

Unfortunately, it is likely that cafeteria-style and buffet-style meals will be much harder to sustain in the post-COVID-19 era, said Zagros Madjd-Sadjadi, of Winston-Salem State University. There are unique issues with such restaurant themes during a time when more health-conscious consumers are demanding better information about their dining choice.

The very nature of this form of dining makes it difficult to comply with such requests, Madjd-Sadjadi said.

Meanwhile, Wilmington customers can take heart that the local K&W remains open for now. (The Greater Wilmington Business Journal reached out to the cafeteria manager but had not heard back by 2 p.m. Tuesday.)

Although breakfast is off the menu, K&W fans should be pleased that the cafeteria no longer is closed in the late afternoon. The Wilmington location is open daily from 11 a.m.-8 p.m., the cafeteria receptionist said.

Read more here:

Amid bankruptcy, breakfast remains off the table at Wilmington K&W - Greater Wilmington Business Journal

Posted in Bankruptcy | Comments Off on Amid bankruptcy, breakfast remains off the table at Wilmington K&W – Greater Wilmington Business Journal

Small business and bankruptcy: What should you do when your company has too much debt? – USA TODAY

Posted: at 5:11 am

Steve Strauss| Special to USA TODAY

Q: From reading your columns, I see that you used to be a bankruptcy attorney. For various reasons, my business has accumulated a lot of debt. But the thing is, I dont want to file bankruptcy. Any other suggestions?

A: Too much debt can definitely make life and business very difficult. But you will notice I said, too much debt. I say that because one thing I also know is that not all debt is bad debt. If you took on some debt to fund a profitable expansion, for instance, that is good debt. If, on the other hand, that expansion went south and you charged a week-long trip to Hawaii, that, needless to say, is bad debt.

SUBSCRIBE TO OUR NEWSLETTER:The Daily Money delivers our top personal finance stories to your inbox

So, what do you do when you have too much bad debt? Essentially, you have four options:

Of course you would like to pay your creditors in full, but sometimes, that is not possible. Rather than just walk away from the debt then, it is usually best to try and work out some sort of payment arrangement with the creditor. Maybe they can give you more time to pay, or lower your payments, or even cut the principle.

You dont know until you ask, and especially if you are behind in your payments, you may find the creditor is far more amenable to a negotiated settlement than you may realize.

If the debt is so overdue that it has been sold to a collection agency, you actually are in better shape vis--vis a settlement. Why? Because the collection agency bought the debt at a steep discount, maybe 10 or 20 centson the dollar. As such, anything over that amount is profit. Like I said, that is good news for you insofar as negotiating a deal, but bad news for your credit rating (thats a different column.)

So what you can do is call up the collection agency and look to strike a bargain.

THE FEDS AND YOUR CREDIT CARD:Here's what you should do if interest rates increase.

Offer them, say, 40 cents on the dollar. They may say no, tell you are crazy, whatever. But if you can get together a lump sum payment of, say, 50% of the total or so, and offer that, you just may find they are very willing to listen to that offer.

But as I said, the key is to 1) have a lump sum payment ready, and 2) be willing to suffer the consequences on your credit rating.

If they do agree to terms, make sure that you get all relevant terms in writing, especially that they will agree to consider the debt paid in full and will report it to the credit agencies as such.

True, no one wants to file bankruptcy papers, but I would be remiss if I did not go over this option.

Depending upon your goals and your desired outcome, you could file a Chapter 7, 11, or 13 bankruptcy. A Chapter 7 wipes out most debt, but is also called a liquidation for a reason:you may have to close the doors to your shop and the bankruptcy trustee would then liquidate your assets to pay your creditors at least something. A chapter 11 or 13 is a type of reorganizations whereby you repay some of what you owe over time, but get to keep the doors open. Speak to your lawyer to see which may be best for you.

Let me also note however that the only time I ever received thank-you notes when I practiced law was from former bankruptcy clients. Why? Because the relief from getting out of debt is that tangible.

INTEREST RATES VS. INFLATION: Federal Reserve signals March hike to ease inflation

Again, depending upon your situation, this just might be the easiest. If you have few assets, most creditors wont waste their time and money suing an empty pocket.

No matter which choice you choose, it will definitely take you a few years to get a decent credit rating again, but in reality, that is just the cost of doing business sometimes.

Read the original here:

Small business and bankruptcy: What should you do when your company has too much debt? - USA TODAY

Posted in Bankruptcy | Comments Off on Small business and bankruptcy: What should you do when your company has too much debt? – USA TODAY

Recent Construction Bankruptcies Highlight Importance of Securing Right to Payment – Levelset

Posted: at 5:11 am

In just two construction business bankruptcy filings from January 2022, 80 separate contractors were not able to secure their right to full payment leaving millions of dollars of construction debt unsecured.

The construction industry is volatile: 97% of surveyed construction professionals reported experiencing stress due to cash flow and payment-related issues and as a result, bankruptcies are unfortunately a common occurrence.

With over $3.3 million in debts to 51 separate contractors, Floridas Performance Paving Sealcoating & Maintenance filed for Chapter 7 bankruptcy late last month. Additionally, the recent collapse of solar firm Midwest Wind and Solar, which put dozens of contractors at risk, provides yet another example of the significant challenges construction businesses face.

But the bankruptcy filings of both Performance Paving and Midwest Wind and Solar reveal some concerning similarities: In both cases, the companies assets were not enough to pay off their liabilities, and the entirety of the creditors debt was listed as unsecured.

Mechanics liens are a valuable tool contractors can use to secure debt. However, they by contractors affected by this bankruptcy and there isnt a simple answer as to why.

Levelsets 2021 Construction Cash Flow & Payment Report found that only 71% of surveyed construction professionals reported filing a mechanics lien last year.

While this statistic has improved from just 58% in 2020, it still leaves almost a third of contractors who have not used a mechanics lien to enforce their right to payment.

Matt Viator, construction attorney and senior Legal Associate at Levelset, suggested the reasons for this may be varied.

5 years experience

182 articles

3,643 answers

Why arent contractors using mechanics liens? Viator suggests its usually for one of the following reasons.

In many cases, contractors may simply be unfamiliar with the process of filing a mechanics lien, said Viator. Even if they are, they may avoid it for some reason perhaps they think its too complex, or they are just a bit old school.

To be fair to contractors, filing a mechanics lien, while in theory a straightforward process, can be challenging to get right. The location and type of project can change the rules of the lien, and making a mistake can be incredibly costly even a small error can invalidate a contractors right to payment.

If contractors believe the risk or complexity of filing a mechanics lien is too great, they may be content to wait and hope for a natural resolution to payment issues.

Unfortunately, waiting too long to secure the right to payment can put contractors in a difficult position. Taking a contractors word that payment will come can be risky, according to Viator.

If a contractor is promised payment and strung along for too long, they can miss key deadlines for filing a mechanics lien, said Viator.

Contractors dont have forever to file a lien: While the deadlines vary by state, contractors generally have three months to a year after work completion to file.

Many states require a preliminary notice to be submitted prior to filing a mechanics lien. These are typically required to be submitted towards the beginning of a project, and if a contractor fails to do so, they will probably lose their right to submit a mechanics lien later on.

But in 2021, only half of contractors reported filing a notice on every job (up from just 29% in 2020).

If a contractor didnt file a mechanics lien, its possible they were late to submit the required notices, or never sent them at all, said Viator.

Preliminary notices are an effective tool to mitigate payment risk, but whether or not to submit a preliminary notice can be a tough decision for contractors.

Some contractors may think filling a preliminary notice will upset other parties, said Viator. They might also choose not to send notices unless theres actually a payment issue at hand.

To make things more problematic, notice laws vary by state and can be quite restrictive in Florida, for instance, a contractor has just 45 days from the start of a project to submit a preliminary notice.

Some contractors may also believe they never had any lien rights in the first place, said Viator. They may have misunderstood the rules or contract, or thought there was an enforceable No Lien Clause.

Whatever the ultimate reason for not filing a mechanics lien, contractors do themselves a major favor by factoring in notices and mechanics liens in their payment processes. Mechanics liens, which are for the most part bankruptcy-proof, allow contractors to secure their debt and protect their right to payment.

Whether or not the dozens of creditors involved in the bankruptcies of Performance Paving and Midwest Wind and Solar will be able to collect payment in full is unclear.

In both cases, liquidated assets will not be enough to make up for the liabilities. If the remaining unsecured debt is discharged, creditors may simply be out of luck.

Learn more: How to Protect Your Payments When Dealing with a Construction Bankruptcy

On-demand legal help you can afford

Legal Guard puts a team of construction lawyers in your corner, on call for contract review or legal advice when you need it.

See the rest here:

Recent Construction Bankruptcies Highlight Importance of Securing Right to Payment - Levelset

Posted in Bankruptcy | Comments Off on Recent Construction Bankruptcies Highlight Importance of Securing Right to Payment – Levelset

Invercargill man’s bankruptcy confusion leads to loss of home – New Zealand Herald

Posted: at 5:11 am

Darryl Robert Hewitson started his accountancy business in Invercargill in 1997. He later became ill with pulmonary sarcoidosis, which adversely affected his ability to work. Photo / 123rf

A piece of paperwork has cost an Invercargill accountant who was adjudged bankrupt his home.

Darryl Robert Hewitson started his accountancy business in Invercargill in 1997. He later became ill with pulmonary sarcoidosis, a respiratory complaint, which adversely affected his ability to work.

In a judgment released by Justice Rachel Dunningham yesterday, it says in 2009 Hewitson was served with proceedings by some of his clients.

Hewitson owed a total of $412,038.53 to six claimants including costs and disbursements.

The outstanding amount still owed to creditors is $337,123.28 plus the assignee's unrecovered time costs of $15,987.42 and outstanding disbursements of $19,413.12.

On November 18, 2009, Hewitson was adjudicated bankrupt in the High Court at Invercargill.

An insolvency officer wrote to him the following day advising him of his obligations including the need to file a Statement of Affairs within 10 working days.

Despite repeated requests and the officer reminding Hewitson his three-year bankruptcy period would not commence until the statement was received, he failed to file it.

In April 2010, Hewitson's mother bought his Regent St property for $180,000 and in May of the same year he said he sent the Statement of Affairs to the assignee. However, it was never received by the assignee's office.

Hewitson was gifted $250,000 from his father in 2014 and he used $165,000 of it to buy his former home, believing he was already discharged from bankruptcy.

In March 2018, Land Information New Zealand notified Hewitson a caveat had been lodged against his property by the assignee.

"When he contacted the office of the assignee, he was told that they had not received his Statement of Affairs and he remained an undischarged bankrupt."

It was not until April 2021, three years after he completed another statement, he was automatically discharged from bankruptcy.

The High Court appeal heard in the Invercargill District Court on December 13 wasfor Hewitson to seek judicial review to stop the sale of his property citing the assignee failed to have regard for all relevant circumstances including the conditions under which he reacquired the property and the changed circumstances of the creditors.

Hewitson's review of his creditors showed some appeared not to be trading, or were in the process of being removed, one business owner had died, and after a conversation he had with one in September 2021, he did not believe the man had any interest in recovering monies.

Justice Dunningham said he had considered Hewitson's interest in remaining in his home due to his ill health and the misunderstanding he believed he was already discharged.

"Notwithstanding this he is in possession of a substantial after-acquired asset while his creditors have only received 25c in the dollar in payment of their claims.

"In all fairness I believe we should be proceeding to sell the property again."

Justice Dunningham dismissed Hewitson's application.

Read more:

Invercargill man's bankruptcy confusion leads to loss of home - New Zealand Herald

Posted in Bankruptcy | Comments Off on Invercargill man’s bankruptcy confusion leads to loss of home – New Zealand Herald