Business Events Bankruptcy

  • CHICAGO, Sept 23- Shares of Caesars Entertainment Corp slid on Friday, a day after hitting a 16- month high, as investors awaited a midnight deadline for creditors to accept a sweetened $5 billion deal that could finally extract the casino company from a costly bankruptcy. The company's main operating unit, Caesars Entertainment Operating Corp Inc, or CEOC, filed...

  • Oil workers make a pipe connection on a drilling rig near Encinal, Texas.

    Rising prices embolden creditors and shareholders to challenge drillers' restructuring plans, putting a bankruptcy exit at risk.

  • CHICAGO, Sept 21- Caesars Entertainment Corp said on Wednesday it proposed along with its private equity backers a settlement offer with an added $1.6 billion for creditors of its casino operating unit, raising hopes of an end to the subsidiary's costly bankruptcy. Apollo Global Management and TPG Capital Management, the private equity firms that control the...

  • Hanjin Shipping’s asset sales started last week, potentially setting off a fall in ship values worldwide amid a glut in the market.

  • TOKYO, Sept 20- Shares in Takata Corp fell as much as 9 percent on Tuesday after a Bloomberg report that some of the company's bidders are considering the possibility of some form of bankruptcy proceedings for the troubled Japanese air bag maker. Citing people familiar with the bidding process, Bloomberg reported on Monday that a bankruptcy option was being...

  • SAO PAULO, Sept 19- A Brazilian state appeals court postponed on Monday a vote on the legality of several aspects of Grupo OAS SA's restructuring plan for at least a couple of weeks, adding uncertainty to efforts by the debt-laden engineering conglomerate to emerge from bankruptcy protection. The ongoing delay in the plan has halted the surrender of OAS's stake...

  • Sept 19- TerraForm Global Inc and TerraForm Power Inc, the "yieldcos" of bankrupt solar company SunEdison Inc, said on Monday they were exploring strategic alternatives, including a sale of their entire business. TerraForm Power's shares were up 3.4 percent at $13.49 in early trading, while TerraForm Global was up 7.4 percent at $3.65. Some of the strategic...

  • Some of the strategic alternatives for TerraForm Global and TerraForm Power may require stockholder approval, while some may require approval of the U.S. Bankruptcy Court for the Southern District of New York, the companies said. TerraForm Global has engaged Centerview Partners, Greentech Capital Advisors and AlixPartners as financial advisers.

  • SAO PAULO, Sept 16- Viver Incorporadora& Construtora SA filed for bankruptcy protection on Friday, becoming the first listed Brazilian homebuilder ever to seek an in-court reorganization amid a harsh recession, tough refinancing conditions and slumping home prices. In a securities filing, Viver said management and advisers, led by Alvarez& Marsal Holdings...

  • ITT's move comes after it said last week it would shut its 137 technical college campuses in 39 states, where roughly 35,000 students are enrolled and 8,000 employees work, as a result of the U.S. Department of Education decision. ITT has hired restructuring consultants Alvarez& Marsal LLC and bankruptcy law firm Faegre Baker Daniels LLP to prepare for the...

  • On this day, eight years ago, U.S. banking giant Lehman Brothers filed for bankruptcy, sending shockwaves across the global financial markets.

  • CHICAGO, Sept 14- Billionaire investors Marc Rowan and David Bonderman are among Caesars Entertainment Corp directors who must disclose details of their wealth to creditors of the casino holding company's bankrupt subsidiary, a U.S. judge said on Wednesday. Junior creditors accuse directors of Caesars and its private equity sponsors Apollo Global...

  • CHICAGO, Sept 14- Billionaire investors Marc Rowan and David Bonderman are among Caesars Entertainment Corp directors who must disclose details of their wealth to creditors of the casino holding company's bankrupt subsidiary, a U.S. judge said on Wednesday. Junior creditors accuse directors of Caesars and its private equity sponsors Apollo Global...

  • Sept 14 (Reuters)- Specialty golf retailer Golfsmith International Inc filed for Chapter 11 bankruptcy on Wednesday and agreed to sell its Canadian retail chain to a group led by Fairfax Financial Holdings Ltd and a unit of CI Investments Inc.. Golfsmith listed both its assets and liabilities at between $100 million and $500 million, according to a filing with...

  • Sept 14- Specialty golf retailer Golfsmith International Inc filed for Chapter 11 bankruptcy on Wednesday and agreed to sell its Canadian retail chain to a group led by Fairfax Financial Holdings Ltd and a unit of CI Investments Inc.. Golfsmith listed both its assets and liabilities at between $100 million and $500 million, according to a filing with the U.S....

  • Sept 14- Specialty golf retailer Golfsmith International Inc plans to file for Chapter 11 bankruptcy and creditor protection in Canada as early as Wednesday, the Wall Street Journal reported, citing people familiar with the matter. The creditor protection filings include an agreement to sell its Canadian chain Golf Town, to CI Financial Corp and Fairfax...

  • Sept 13- U.S. coal miner Arch Coal won court approval on Tuesday for a plan to eliminate $4.7 billion of debt from its balance sheet, the company said, clearing the path to emerge from bankruptcy in early October. Under a reorganization plan confirmed by U.S. Bankruptcy Court in St. Louis on Tuesday, the company's senior lenders will have control of most of the company.

  • NRG Energy has won the auction for bankrupt renewable power plant developer SunEdison's wind and solar projects in Texas and other states.

  • The Hanjin Greece container ship is docked for unloading at the Port of Long Beach after being stranded at sea for more than a week for fear that it could be seized by creditors if it came to shore on September 10, 2016.

    The chairman of Hanjin Group transferred $36 million to Hanjin Shipping to help unload cargo stranded on the troubled shipper's vessels.

  • SAN FRANCISCO/ SEOUL, Sept 12 (Reuters)- A portion of the $14 billion in cargo trapped at sea by the bankruptcy of Hanjin Shipping Co Ltd began moving out of one California port on Monday, and a second ship received orders to head to dock, after the turmoil created by the South Korean company's collapse. Truckers began moving freight from the Hanjin Greece, one of...