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  • WILMINGTON, Del./ WASHINGTON, July 6- Alpha Natural Resources said on Wednesday it expects to reach a deal with the U.S. government over responsibility for the cost of cleaning up mining sites, removing one of the most significant hurdles to the coal company's exiting bankruptcy. On Wednesday, Alpha said it anticipated reaching a deal by Thursday with the U.S....

  • NEW YORK, July 6- Bankrupt renewable power plant developer SunEdison Inc has asked a U.S. bankruptcy court judge to approve the sale of its stake in a California solar project to an affiliate of hedge fund D.E. Shaw. In an auction, D.E. Shaw has offered to pay $10 million less for the stake in the plant, according to the papers. Before SunEdison filed for bankruptcy, D.E....

  • The Puerto Rican flag flies near the Capitol building. US Treasury Secretary Jack Lew warned on Monday that time was running out to address the spiraling crisis in Puerto Rico a week after the island suffered a dramatic default.

    Puerto Rico is set to register its largest default to date on Friday as $2 billion in debt payments are due to its creditors.

  • Governor Alejandro Garcia Padilla of Puerto Rico

    Puerto Rico’s governor says the commonwealth has no choice but to default on more than $1 billion in debt on Friday—and the fallout will be severe.

  • Forever 21 sales decline drastically

    Shipping firm EZ Worldwide Express cut ties with the fast-fashion retailer due to slowing sales.

  • FRANKFURT, June 28- German real estate group IVG is launching a 3 billion euro asset sale as its hedge fund owners hope to lock in high prices in the country's buoyant property market, three people familiar with the matter said. IVG, which went through insolvency proceedings in 2013 after cost overruns at its landmark Squaire building at Frankfurt airport made...

  • SAO PAULO, June 27- A unit of distressed debt firm Aurelius Capital Management LP asked a Dutch court on Monday to start bankruptcy proceedings against a Netherlands subsidiary of phone company Oi SA, which last week filed Brazil's largest-ever bankruptcy protection request. Aurelius unit Syzygy Capital Management Ltd owns bonds sold by Oi Brasil Holdings...

  • SAO PAULO, June 27- A unit of distressed debt firm Aurelius Capital Management LP is asking a Dutch court to start bankruptcy proceedings against a Netherlands- based subsidiary of phone carrier Oi SA, which last week filed for Brazil's largest-ever such plan. The Syzygy Capital Management Ltd subsidiary owns bonds of Oi's Oi Brasil Holdings Coöperatief UA,...

  • Hulk Hogan

    Hulk Hogan, whose lawsuit against Gawker Media precipitated its bankruptcy, will serve on the committee of unsecured creditors.

  • NEW YORK, June 24- Former professional wrestler Hulk Hogan, whose lawsuit against Gawker Media LLC precipitated its bankruptcy, will serve on the committee of unsecured creditors, according to a court filing. Hogan won a $140 million judgment against Gawker in a lawsuit after the gossip website published an excerpt from a sex tape in which he appeared.

  • SAO PAULO, June 23- Brazil's biggest bankruptcy filing ever is sending shockwaves far beyond the recession-hit country's borders as operator Oi SA seeks creditor protection from global telecoms suppliers and export banks around the world. The biggest Brazilian fixed-line carrier also owes about $1 billion to foreign development banks in China, Finland,...

  • SAO PAULO, June 23- A group representing holders of Oi SA's bonds not guaranteed by unit Telemar Norte Leste SA is growing, two sources familiar with the matter said, underscoring the challenges facing Brazil's largest fixed-line phone carrier as it enters bankruptcy protection proceedings. New York- based investment bank Houlihan Lokey Inc and Metrica...

  • SAO PAULO, June 23- A group representing holders of Oi SA's bonds not guaranteed by unit Telemar Norte Leste SA is growing, two sources familiar with the matter said, underscoring the challenges facing Brazil's largest fixed-line phone carrier as it enters bankruptcy protection proceedings. New York- based investment bank Houlihan Lokey Inc and Metrica...

  • CHICAGO, June 22- The casino operating unit of Caesars Entertainment Corp can begin seeking creditor votes for a plan to exit its long and contentious $18 billion bankruptcy, a U.S. bankruptcy judge said in court on Wednesday. "There's something poetic about that," Judge Benjamin Goldgar said in U.S. Bankruptcy Court in Chicago. It offered to contribute roughly $4...

  • Pro athletes & bankruptcy

    Former NBA Player Antoine Walker, speaks about his basketball stardom and his financial downfall and Drew Hawkins, Morgan Stanley Global Sports & Entertainment Managing Director, weighs in on helping professional athletes manage their wealth.

  • SAO PAULO, June 21- The bankruptcy filing by Brazilian telecommunications company Oi SA, the country's biggest ever, will test the effectiveness of Brazil's cumbersome bankruptcy process. Brazil's bankruptcy protection law was updated in 2005 in an effort to reduce litigation, keep companies operating and speed up proceedings that averaged 15 years, but the...

  • SAO PAULO, June 21- Brazilian stocks fell on Tuesday after Oi SA filed for Brazil's largest ever bankruptcy protection, weighing on banks that lent money to the country's No. 1 fixed-line phone carrier. Preferred shares of Oi SA, which are not part of Brazil's benchmark Bovespa stock index, plunged as much as 31 percent to a fresh record low. Kroton SA rose 1.4 percent...

  • SAO PAULO, June 21- Shares of Oi SA tumbled on Tuesday after the mobile phone carrier filed for Brazil's biggest-ever bankruptcy, triggering a legal process likely to drag investors, lenders and service providers through months of uncertainty. The petition in a Rio de Janeiro court from Oi, Brazil's fourth-biggest mobile provider, and six subsidiaries came...

  • June 21- Caesars Entertainment Corp said on Tuesday it had agreed with its senior creditors to amend a restructuring agreement that would allow it to go through with a bankruptcy exit plan for its operating unit. Debtors agreed to obtain an order from the U.S. Bankruptcy Court authorizing payment of $300 million in cash as soon as practicable to holders of...

  • Brazil's Oi files for bankruptcy protection

    The country's largest fixed-line phone carrier failed to win support for a plan to convert $19.3-billion of debt.