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Business Events Bankruptcy

  • *Dismissal designed to reassure clients before bankruptcy. TOKYO, April 5- Westinghouse Electric Co LLC fired its chairman two days before the U.S. nuclear engineering unit of Toshiba Corp filed for bankruptcy last week, as the Japanese firm tries to draw a line under the travails of a business that has cost it billions. Toshiba's spokesman said Westinghouse...

  • CHICAGO, April 4- Discount footwear retailer Payless ShoeSource said it had filed for Chapter 11 protection on Tuesday with a plan to restructure debt and immediately close 400 underperforming stores in the United States and Puerto Rico. Privately owned Payless Inc joins a long list of U.S. brick-and-mortar retailers to fall victim to declining mall traffic...

  • CHICAGO, April 4- U.S. coal miner Peabody Energy Corp returned to the New York Stock Exchange on Tuesday after emerging from a year-long $8 billion Chapter 11 bankruptcy with far less debt and an industry champion in the White House. Shares in Peabody, the world's largest private-sector coal producer, were trading at $29.80 in late morning, down from an opening...

  • *Restructuring talks extended by 3 months to July 31. OSLO, April 4- Drill rig operator Seadrill warned investors that its shares will lose almost all of their value and its bonds will be hit as the Norwegian company prepares for potential bankruptcy proceedings to restructure $14 billion in debt and liabilities. Seadrill, which first warned in February that...

  • *Restructuring talks extended by 3 months to July 31. OSLO, April 4- Drill rig operator Seadrill warned investors that its shares will lose almost all of their value and its bonds will be hit as the Norwegian company prepares for potential bankruptcy proceedings to restructure $14 billion in debt and liabilities. Seadrill, which first warned in February that...

  • *Westinghouse bankruptcy allows Engie to exercise sell option-Toshiba. TOKYO, April 4- Japan's Toshiba Corp said on Tuesday it will buy French power utility Engie's 40 percent stake in their British nuclear joint venture NuGen for 15.3 billion yen. Toshiba said the transaction could cause a writedown of 49.7 billion yen, but this has been already factored in...

  • The West Phoenix oil platform, operated by Seadrill Norge AS, right, stands with other unused platforms in the Port of Cromarty Firth in Cromarty, U.K.

    Seadrill warned its stock will lose almost all of its value as the Norwegian company prepares for potential bankruptcy proceedings.

  • OSLO, April 4- Rig firm Seadrill warned on Tuesday that its stock will lose almost all of its value and its bonds will be hit as the Norwegian company prepares for potential bankruptcy proceedings to restructure $14 billion in debt and liabilities. Shares in Seadrill, which was once the crown jewel in shipping tycoon John Fredriksen's empire, were down 40 percent...

  • *Restructuring talks extended by 3 months to July 31. OSLO, April 4- Rig firm Seadrill warned shareholders on Tuesday that their stock will lose almost all of its value as the Norwegian company prepares for potential bankruptcy proceedings to restructure $14 billion in debt and liabilities. The company said its banks and other lenders had agreed to extend...

  • April 3- U.S. coal miner Peabody Energy Corp said it had emerged from Chapter 11 protection and was expected to begin trading on the New York Stock Exchange on Tuesday under the ticker symbol BTU. The largest U.S. coal producer filed for bankruptcy protection in April 2016, after a sharp drop in coal prices left it unable to service debt of $10.1 billion.

  • Retail bankruptcies heading toward great recession highs

    The number of retailers filing for bankruptcy is poised to touch highs the country hasn't seen since the great recession.

  • A man walks by a Sears store.

    Sears Holding, the retailer, looks to be rapidly hurtling toward bankruptcy under the stewardship of hedge-fund boss Eddie Lampert, reports Breakingviews.

  • SHANGHAI, March 30- China's State Power Investment Corp said Westinghouse's bankruptcy filing would not have a "substantial impact" on the country's nuclear plans and the two sides would ensure a key AP1000 reactor project would be completed on schedule this year. The project is the world's first Westinghouse-designed AP1000 reactor project, being built at...

  • NEW YORK, March 29- Westinghouse Electric Co's financial distress sparked a feeding frenzy among Wall Street lenders keen to give the nuclear developer a lifeline while it reorganizes in bankruptcy, according to court papers and people familiar with the matter. Westinghouse, the nuclear arm of Japanese conglomerate Toshiba, filed for Chapter 11 bankruptcy...

  • *Westinghouse secures $800 mln in debtor-in-possession financing. WILMINGTON, DEL./ TOKYO, March 29- Westinghouse Electric Co, a unit of Japanese conglomerate Toshiba Corp, filed for bankruptcy on Wednesday, hit by billions of dollars of cost overruns at four nuclear reactors under construction in the U.S. The four reactors are part of two projects known as V.C....

  • *Westinghouse secures $800 mln in debtor-in-possession financing. WILMINGTON, DEL./ TOKYO, March 29- Westinghouse Electric Co, a unit of Japanese conglomerate Toshiba Corp, filed for bankruptcy on Wednesday, hit by billions of dollars of cost overruns at four nuclear reactors under construction in the U.S. Westinghouse and affiliates intend to use bankruptcy...

  • *Westinghouse secures $800 mln in debtor-in-possession financing. TOKYO, March 29- Toshiba Corp's U.S. nuclear unit Westinghouse filed for Chapter 11 protection from creditors on Wednesday, just three months after huge cost overruns were flagged, as the Japanese parent seeks to limit losses that threaten its future. Toshiba said Westinghouse-related...

  • *Westinghouse secures $800 mln in debtor-in-possession financing. TOKYO, March 29- Toshiba Corp's U.S. nuclear unit Westinghouse filed for Chapter 11 protection from creditors on Wednesday, as its Japanese parent seeks to limit losses that threaten its future. Toshiba said Westinghouse-related liabilities totalled $9.8 billion as of December, more than an...

  • *Westinghouse secures $800 mln in debtor-in-possession financing. TOKYO, March 29- Toshiba Corp's troubled U.S. nuclear unit Westinghouse filed for Chapter 11 protection from creditors on Wednesday, as its Japanese parent seeks to limit losses that have plunged it into crisis. A bankruptcy filing will allow Pittsburgh- based Westinghouse, whose nuclear...

  • TOKYO, March 29- Toshiba Corp's U.S. nuclear unit Westinghouse Electric Co has filed for Chapter 11 bankruptcy protection, the Nikkei reported in a news alert on Wednesday.