Business Events Bankruptcy

  • CHICAGO, Dec 23- Creditors of Caesars Entertainment Corp's bankrupt operating unit have reached an agreement to revise the terms of their recoveries, according to a filing with the U.S. Bankruptcy Court in Chicago on Friday.

  • Looking ahead to next year, restructuring advisers said they expect more energy-related bankruptcy filings, as the sector prepares for an upturn that could follow implementation of President-elect Donald Trump's pro-drilling agenda or OPEC's plan to cut oil production for the first time in eight years. Denver- based Bonanza Creek, with oil and natural gas...

  • CHICAGO, Dec 22- Leading global coal producer Peabody Energy said on Thursday its main creditors support a plan to wipe more than $5 billion of debt from its balance sheet and exit the largest energy-related U.S. bankruptcy this year. Under a reorganization plan filed with the U.S. Bankruptcy Court in St. Louis, Peabody said it expects to cut its debt to $1.95...

  • WILMINGTON, Del., Dec 20- Energy Future Holdings Corp and its senior creditors agreed to an $800 million deal aimed at bringing the owner of Texas's largest network of power lines works out of Chapter 11 next year, according to a securities filing on Tuesday. The deal follows a federal appeals court ruling in November that found Dallas- based Energy Future was...

  • SAO PAULO, Dec 16- Ecovix Engevix Construções Oceánicas SA and five subsidiaries have filed for bankruptcy protection in a federal commercial court, succumbing to a debt burden of 8 billion reais and a plunge in shipbuilding. In a statement on Friday, Ecovix said Banco Brasil Plural SA and law firm Felsberg Advogados will advise it on bankruptcy protection...

  • Dec 16- U.S. oilfield services firm Forbes Energy Services Ltd is preparing to file for bankruptcy as soon as this month, as it struggles with approximately $300 million in debt, people familiar with the matter said on Friday. Competing oilfield services firms Key Energy Service Inc, C&J Energy Services Ltd and Basic Energy Services Inc have all filed for...

  • Trump's pick for Israel ambassador hints at embassy move

    President-elect Donald Trump nominates David Friedman as new US ambassador to Israel.

  • Without bankruptcy, many of small and medium-sized service companies risk missing out on any upturn that could follow President-elect Donald Trump's pro-drilling agenda or OPEC's plan to cut oil production for the first time in eight years, restructuring advisors said. In June through October, nine companies with at least $100 million in debt filed for...

  • Without bankruptcy, many of small and medium-sized service companies risk missing out on any upturn that could follow President-elect Donald Trump's pro-drilling agenda or OPEC's plan to cut oil production for the first time in eight years, restructuring advisors said. In June through October, nine companies with at least $100 million in debt filed for...

  • WILMINGTON, Del./ CHICAGO, Dec 6- A U.S. subsidiary of Spanish renewable energy firm Abengoa SA pressed a judge on Tuesday to approve its plan to exit bankruptcy over objections from a holdout creditor, who said the plan violated U.S. law by favoring the company's foreign parent. Bankruptcy Judge Kevin Carey in Wilmington, Delaware, said he wanted additional written...

  • SAO PAULO, Dec 6- Oi SA Chief Executive Officer Marco Schroeder said on Tuesday that management plans to meet major creditor groups and potential bidders as early as next week, in a bid to accelerate efforts to help Brazil's No. 4 wireless carrier emerge from bankruptcy protection. Oi's 65.4 billion-real bankruptcy protection case, Brazil's biggest ever, was...

  • SAO PAULO, Dec 6- Oi SA Chief Executive Officer Marco Schroeder said on Tuesday that management plans to meet major creditor groups and some potential bidders as early as next week, in a bid to accelerate efforts to help Brazil's No. 4 wireless carrier emerge from bankruptcy protection. In an interview with Reuters, Schroeder said Oi's main shareholders and...

  • CHICAGO, Dec 6- The bank lenders of Caesars Entertainment Corp's operating unit said they might walk away from a plan to bring the casino unit out of its $18 billion bankruptcy, potentially sending a high-stakes reorganization plan into disarray. The committee of bank lenders, which includes Blackstone Group LP's GSO Capital Partners, has yet to resolve a...

  • WILMINGTON, Del./ CHICAGO, Dec 6- A leading U.S. subsidiary of Abengoa SA heads to court on Tuesday to seek approval for a bankruptcy exit plan that opponents argue violates the law by prioritizing the Spanish parent and its international backers ahead of U.S. creditors. Abeinsa Holding Inc is one of dozens of global Abengoa subsidiaries that filed for U.S.

  • CHICAGO, Dec 2- U.S. coal producer Peabody Energy Corp said it would seek court approval to repay a $500 million term loan ahead of schedule because it has enough cash to operate in bankruptcy thanks to a rise in coal prices. The financing included a $500 million term loan, which the company is planning to repay, along with a $200 million bonding accommodation...

  • SAO PAULO, Dec 2- Brazilian telephone company Oi SA, which is under creditor protection, said court administrators had filed a petition in an Amsterdam court to convert the suspension of payment status of two Oi subsidiaries into bankruptcy. A hearing in Amsterdam has been scheduled for Jan. 12 to decide on the matter, according to a filing from Oi late on Thursday...

  • SAO PAULO, Nov 29- Brazilian phone carrier Oi SA said on Tuesday that Dutch judicial authorities could compel bankruptcy proceedings for its two Netherlands- based units, which hold most of the company's bond debt. Oi said in a securities filing that it hoped that a bankruptcy process in the Netherlands, should it take place, would have no meaningful bearing on its...

  • SAO PAULO, Nov 29- Brazilian phone company Oi SA said on Tuesday a court status protecting two Dutch subsidiaries from creditors could turn into a bankruptcy procedure in the Netherlands, potentially complicating its own court-supervised reorganization at home. "Oi hopes this does not impact significantly its in-court reorganization efforts in Brazil," Oi...

  • SAO PAULO, Nov 29- Brazil's Oi SA said on Tuesday a court process protecting two of its subsidiaries in the Netherlands from creditors could be converted into a bankruptcy process in that country, potentially complicating Oi's own court supervised reorganization in Brazil. The process in the Netherlands relates to Oi's two investment vehicles based in that...

  • SAO PAULO, Nov 29- The biggest shareholder in Oi SA, the Brazilian telephone carrier operating under bankruptcy court protection, is not opposed in principle to a share dilution, newspaper Valor Econômico cited an executive at the shareholder as saying. Pharol owns 27.5 percent of Oi's voting stock through Bratel BV, a wholly-owned subsidiary.