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Business Events Bankruptcy

  • 21st Century Oncology, which bills itself as the world's largest operator of cancer treatment centers, filed for Chapter 11 bankruptcy.

  • The Fort Myers, Florida- based company said the bankruptcy would not impact its 179 treatment centers with locations across 17 U.S. states and Latin America. The company's lenders agreed to provide $75 million for working capital during its bankruptcy and a group of creditors agreed to invest $75 million into the reorganized business. The new investment is...

  • WILMINGTON, Del, May 25- Bankrupt Westinghouse Electric Co LLC, the U.S. nuclear technology firm owned by Toshiba Corp, has stopped making pension payments to former executives, according to a letter seen by Reuters, removing a benefit that has helped the company retain top talent. Westinghouse spokeswoman Sarah Cassella said in a statement that in Chapter 11...

  • Bankruptcy Judge Kathy Surratt-States of St. Louis to reject a request by an official committee of creditors to hire an expert to review pre-bankruptcy transactions. Creditors have said in court filings that San Francisco private equity funds Golden Gate Capital and Blum Capital, which together hold 98.5 percent of the company and control its board,...

  • Westinghouse, a unit of Japan's Toshiba Corp, filed for bankruptcy in March following billions of dollars in cost overruns at two nuclear power plants it designed and is constructing in Georgia and South Carolina. An attorney for Westinghouse said in U.S. bankruptcy court in New York that cash from the loan would allow the company to complete its business plan...

  • NEW YORK, May 22- Puerto Rico's federal oversight board has sought bankruptcy protection for the island's highway authority and largest public pension, making them the latest commonwealth entities to turn to a court to work out debt. Puerto Rico's central government, as well as its COFINA sales tax authority, are already in Title III bankruptcy, and a lawyer for...

  • NEW YORK, May 19- The U.S. Department of Justice's bankruptcy watchdog said on Friday it plans to appoint a committee of retirees in Puerto Rico's bankruptcy to negotiate for pensioners facing benefit cuts as part of the island's debt restructuring. Puerto Rico, carrying some $50 billion in unfunded pension liabilities, "clearly needs a retiree committee and...

  • SAN JUAN, May 17- Puerto Rico's main creditors, meeting before a U.S. bankruptcy judge in the largest public finance restructuring case in history, are interested in continuing mediation settlement talks to resolve the island's unpayable $70 billion debt bill. In the first hearing since the U.S. commonwealth filed for bankruptcy on May 3, a lawyer for Puerto...

  • SAN JUAN, May 17- Puerto Rico's main creditors, meeting before a U.S. bankruptcy judge in the largest public finance restructuring case in history, are interested in continuing mediation settlement talks to resolve the island's unpayable $70 billion debt bill. A lawyer for Puerto Rico's federal financial oversight board told U.S. district court judge Laura...

  • SAN JUAN, May 17- Puerto Rico's main creditors, meeting before a U.S. bankruptcy judge in the largest public finance restructuring case in history, are interested in continuing mediation settlement talks to resolve the island's unpayable $70 billion debt bill. A lawyer for Puerto Rico's federal financial oversight board told U.S. district court judge Laura...

  • PUERTO RICO BANKRUPTCY JUDGE LAURA TAYLOR SWAIN GRANTS PUERTO RICO'S MOTION TO COMBINE BANKRUPTCIES OF COMMONWEALTH AND COFINA.

  • PUERTO RICO BANKRUPTCY JUDGE LAURA TAYLOR SWAIN SAYS "DEVOTING ALL OUR TIME TO LITIGATION CANNOT" BE WAY FORWARD.

  • BOARD LAWYER EXPECTS RESTRUCTURING DEALS OR TITLE III BANKRUPTCY PROCEEDINGS SOON FOR UNIVERSITY OF PUERTO RICO, WATER AUTHORITY PRASA.

  • The company forecast second-quarter adjusted profit in the range of 15 to 17 cents per share, far below analysts' average estimate of 23 cents per share, according to Thomson Reuters I/B/E/S. Apparel retailers such as Aeropostale Inc, Wet Seal and BCBG Max Azria Group LLC have filed for bankruptcy over the last two years and industry experts say many more may...

  • May 17- Puerto Rico on Wednesday will face investors for the first time in a bankruptcy court, as it kicks off the biggest and most divisive debt restructuring in U.S. public finance history. While Wednesday's hearing, in federal court in San Juan, is only the start of a process that could take months or years, it is also a culmination of more than two years of bitter...

  • Demonstrators and police clash during a protest against the government's austerity measures as Puerto Rico faces a deadline on Monday to restructure its $70 billion debt load or open itself up to lawsuits from creditors, in San Juan, Puerto Rico May 1, 2017.

    Puerto Rico will face investors for the first time in a bankruptcy court, as it kicks off the most divisive debt restructuring in U.S. public finance history.

  • May 17- Puerto Rico on Wednesday will face investors for the first time in a bankruptcy court, as it kicks off the biggest and most divisive debt restructuring in U.S. public finance history. While Wednesday's hearing, in federal court in San Juan, is only the start of a process that could take months or years, it is also a culmination of more than two years of bitter...

  • CRANBERRY, Pa.— Pennsylvania- based teen clothing retailer rue21 is restructuring and filing for Chapter 11 bankruptcy protection about a month after announcing it would close roughly 400 stores to focus more on online sales. The company based in Cranberry, north of Pittsburgh, announced Tuesday that its bankruptcy filing accompanies agreements with...

  • *Morocco wants at least $2 billion for plant- sources. DUBAI/ LONDON, May 15- Swiss trading giant Glencore and U.S. private equity investor Carlyle Group have teamed up in an attempt to buy Morocco's only oil refinery, hoping to recoup about $600 million in loans they issued to the plant before it went bankrupt, industry sources said. Two sources close to the process...

  • Rue21 says it has entered into agreements with some of its lenders to reduce debt and to provide capital in support of its restructuring.