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  • The New York Power Authority said SunEdison's move into bankruptcy court protection last month means the agency has to find at least one other company to join SolarCity as a contractor for the "K-Solar" initiative. The companies had been given territory as recommended contractors by the authority, with SunEdison to handle work in western and central New York...

  • CHICAGO, May 20- Bankrupt coal producer Peabody Energy Corp said in a court filing Friday it believes its long-term debt should be included in its current liabilities, a position that favors unsecured creditors to the tune of $1 billion. A fight over how to treat long-term debt in calculating the mining company's assets has been looming since Peabody filed for...

  • Carl Icahn isn't sure whether he'll spend the $100 million he promised to spruce up the struggling gambling hall opened in 1990 by Donald Trump, who hailed it as "the eighth wonder of the world." Icahn rescued the Taj Mahal by keeping it afloat during its Chapter 11 case and pledging to invest $100 million once he got control. "We want to let the world know that we are...

  • NEW YORK, May 19- A scheduled hearing on Thursday in U.S. Bankruptcy Court for the Southern District of New York on a $300 million bankruptcy loan for renewable energy company SunEdison Inc has been pushed back one day, until Friday. Some of SunEdison's creditors and its so-called yieldcos, TerraForm Global Inc and TerraForm Power Inc, had objected in court papers...

  • "It's sort of a situation where nobody, really, is going to end up looking good," said James Stevenson, director of North American coal for analyst firm IHS. Nationwide, self-bonding in the coal-mining industry tops $3.3 billion. That includes $2.3 billion in IOUs that the three biggest bankrupt coal companies— Alpha Natural Resources, Arch Coal and Peabody— owe in...

  • May 18- Halcón Resources Corp, which produces oil in Texas and North Dakota, said on Wednesday it plans to file for a prepackaged bankruptcy that would wipe out $1.8 billion in debt and help it survive the drop in crude prices. Shares of the Houston- based company fell 55 percent to 44 cents in after-hours trading. Together with several former colleagues from...

  • CHICAGO, May 18- Caesars Entertainment Corp has offered $4 billion in a new plan to help its casino operating unit emerge from Chapter 11, a lawyer for the unit told a U.S. "In terms of recoveries to creditors, they are substantially improved down the line" under the new plan, lawyer David Seligman said in Chicago bankruptcy court on behalf of the Caesars unit on...

  • NEW YORK, May 18- The trustee liquidating Lehman Brothers Holdings Inc's defunct brokerage on Wednesday asked a federal bankruptcy judge for permission to distribute another $677 million to unsecured creditors. The proposed fourth payout by trustee James Giddens, which requires court approval, would boost the recovery by the unsecured Lehman Brothers Inc...

  • CHICAGO, May 18- A new proposal for the bankrupt operating unit of Caesars Entertainment Corp to emerge from Chapter 11 includes a $4 billion contribution from its parent, a lawyer for the unit told a U.S. An independent examiner who investigated those claims said in March that Caesars Entertainment and its private equity backers, Apollo Global Management and...

  • LIVERPOOL, Pa.— A modular homes company has filed for bankruptcy and is closing its plant in central Pennsylvania, idling 280 workers. The Daily Item says Excel Homes decision to file Chapter 7 bankruptcy is forcing it to close plants in Maine, New York, Virginia as well as the plant in Liverpool, about 25 miles north of Harrisburg. The layoffs were effective May 13.

  • May 17- Directories publishers Dex Media Inc and SuperMedia Inc filed for voluntary Chapter 11 bankruptcy protection in a Delaware court on Monday. SuperMedia, earlier known as Idearc Inc, and Dex Media, formerly R.H. Donnelley Corp, exited their first bankruptcy proceedings in 2010.. The cases are in U.S. Bankruptcy Court, District of Delaware; Case No: 16-11210...

  • *SandRidge sets pre-packaged bankruptcy deal. *SandRidge has assets of $7.0 billion, debt of $4.0 billion. As of March 31, SandRidge estimated it had total assets of $7.0 billion and total debt of $4.0 billion, and Breitburn listed assets of $4.7 billion and liabilities of $3.4 billion.

  • *SandRidge has assets of $7.01 bln, debt of $4 bln. *Breitburn lists assets, liabilities of $1 bln- $10 bln. SandRidge said in a court filing that it had total assets of $7.01 billion and total debt of $4 billion as of March 31.

  • May 16- U.S. oil and gas producer SandRidge Energy Inc and some of its units filed for bankruptcy protection on Monday, the latest company to fall victim to weak oil prices. SandRidge said in a court filing that it had total assets of $7.01 billion and total debt of $4 billion as of March 31. The case is in U.S. Bankruptcy Court, District of Southern Texas, Case No:...

  • May 16- Breitburn Energy Partners LP and some of its units filed for restructuring under Chapter 11 of the U.S. bankruptcy code on Monday, the latest company to face the brunt of low commodity prices. The oil and gas master limited partnership said it secured a $75 million debtor-in-possession financing, in addition to cash from its operations and cash on hand, to...

  • HOUSTON, May 13- The wave of U.S. oil and gas bankruptcies surged past 60 this week, an ominous sign that the recovery of crude prices to near $50 a barrel is too little, too late for small companies that are running out of money. On Friday, Exco Resources Inc, a Dallas- based company with a star-studded board, said it will evaluate alternatives, including a restructuring...

  • May 12- Bankrupt solar company SunEdison Inc terminated the employment of Chief Financial Officer Brian Wuebbels and said it would delay filing its 10- Q report for the quarter ended March 31. The company said it has given Wuebbels a 30- day notice period, during which he will be an adviser to the company's Chief Restructuring Officer, John Dubel.

  • Under the plan with creditors, Linn will spin off Berry Petroleum Co LLC, acquired in 2013 for $4.3 billion to create one of the largest independent energy producers. We believe that these steps will provide us the financial flexibility to successfully manage in the current commodity price environment, "Chief Executive Officer Mark Ellis said in a statement.

  • NEW YORK, May 11- U.S. oil and gas explorer SandRidge Energy Inc said on Wednesday that it would not be able to file its financial results for the quarter ended March 31 on time. The company, which disclosed the delay in a filing with the U.S. Securities and Exchange Commission, has been in talks with its creditors on a restructuring deal ahead of a potential bankruptcy.

  • Since March, however, six publicly traded energy producers have filed for bankruptcy and five of them opted to file in Houston. The latest was Houston- based Linn Energy LLC, which filed on Wednesday. More companies began to file in Houston after the court adopted a work order that aimed to expedite large cases by directing them to two of its six judges: Martin Isgur...