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Business Events Bankruptcy

  • SAN JUAN, May 17- Puerto Rico's main creditors, meeting before a U.S. bankruptcy judge in the largest public finance restructuring case in history, are interested in continuing mediation settlement talks to resolve the island's unpayable $70 billion debt bill. In the first hearing since the U.S. commonwealth filed for bankruptcy on May 3, a lawyer for Puerto...

  • SAN JUAN, May 17- Puerto Rico's main creditors, meeting before a U.S. bankruptcy judge in the largest public finance restructuring case in history, are interested in continuing mediation settlement talks to resolve the island's unpayable $70 billion debt bill. A lawyer for Puerto Rico's federal financial oversight board told U.S. district court judge Laura...

  • SAN JUAN, May 17- Puerto Rico's main creditors, meeting before a U.S. bankruptcy judge in the largest public finance restructuring case in history, are interested in continuing mediation settlement talks to resolve the island's unpayable $70 billion debt bill. A lawyer for Puerto Rico's federal financial oversight board told U.S. district court judge Laura...

  • PUERTO RICO BANKRUPTCY JUDGE LAURA TAYLOR SWAIN GRANTS PUERTO RICO'S MOTION TO COMBINE BANKRUPTCIES OF COMMONWEALTH AND COFINA.

  • PUERTO RICO BANKRUPTCY JUDGE LAURA TAYLOR SWAIN SAYS "DEVOTING ALL OUR TIME TO LITIGATION CANNOT" BE WAY FORWARD.

  • BOARD LAWYER EXPECTS RESTRUCTURING DEALS OR TITLE III BANKRUPTCY PROCEEDINGS SOON FOR UNIVERSITY OF PUERTO RICO, WATER AUTHORITY PRASA.

  • The company forecast second-quarter adjusted profit in the range of 15 to 17 cents per share, far below analysts' average estimate of 23 cents per share, according to Thomson Reuters I/B/E/S. Apparel retailers such as Aeropostale Inc, Wet Seal and BCBG Max Azria Group LLC have filed for bankruptcy over the last two years and industry experts say many more may...

  • May 17- Puerto Rico on Wednesday will face investors for the first time in a bankruptcy court, as it kicks off the biggest and most divisive debt restructuring in U.S. public finance history. While Wednesday's hearing, in federal court in San Juan, is only the start of a process that could take months or years, it is also a culmination of more than two years of bitter...

  • Demonstrators and police clash during a protest against the government's austerity measures as Puerto Rico faces a deadline on Monday to restructure its $70 billion debt load or open itself up to lawsuits from creditors, in San Juan, Puerto Rico May 1, 2017.

    Puerto Rico will face investors for the first time in a bankruptcy court, as it kicks off the most divisive debt restructuring in U.S. public finance history.

  • May 17- Puerto Rico on Wednesday will face investors for the first time in a bankruptcy court, as it kicks off the biggest and most divisive debt restructuring in U.S. public finance history. While Wednesday's hearing, in federal court in San Juan, is only the start of a process that could take months or years, it is also a culmination of more than two years of bitter...

  • *Morocco wants at least $2 billion for plant- sources. DUBAI/ LONDON, May 15- Swiss trading giant Glencore and U.S. private equity investor Carlyle Group have teamed up in an attempt to buy Morocco's only oil refinery, hoping to recoup about $600 million in loans they issued to the plant before it went bankrupt, industry sources said. Two sources close to the process...

  • Rue21 says it has entered into agreements with some of its lenders to reduce debt and to provide capital in support of its restructuring.

  • NEW YORK, May 15- Debt-laden Puerto Rico announced on Monday that the Government Development Bank, once the primary fiscal agent for the U.S. territory, has reached a liquidation deal with its creditors, avoiding a protracted bankruptcy. The agreement would be executed through a so-called Title VI proceeding under PROMESA, the federal rescue law for Puerto Rico,...

  • NEW YORK, May 15- Debt-laden Puerto Rico announced on Monday that the Government Development Bank, once the primary fiscal agent for the U.S. territory, has reached a liquidation deal with its creditors, avoiding a protracted bankruptcy. The agreement would be executed through a so-called Title VI proceeding under PROMESA, the federal rescue law for Puerto Rico,...

  • NEW YORK, May 15- Debt-laden Puerto Rico announced on Monday that the Government Development Bank, once the primary fiscal agent for the U.S. territory, has reached a liquidation deal with its creditors, avoiding a protracted bankruptcy. The agreement would be executed through a so-called Title VI proceeding under PROMESA, the federal rescue law for Puerto Rico,...

  • BAKU, May 13- International Bank of Azerbaijan, the energy exporting country's biggest lender, said on Saturday a U.S. court had supported its petition to prevent creditors from pursuing legal action in the United States, giving it time to restructure $3.3 billion debt. Such a petition is not a bankruptcy filing but stops creditors from pursuing legal actions in...

  • NEW YORK, May 11- Hedge fund Elliott Management Corp filed a lawsuit against Energy Future Holdings Corp on Thursday, claiming that the bankrupt power company has prevented it from pursuing better options for it as its $18.7 billion deal with NextEra Energy Inc falters. Elliott, Energy Future's largest creditor, wants to lay the groundwork for a plan of...

  • *Shares in Frankfurt- listed shares down 82 pct. FRANKFURT, May 10- Germany's SolarWorld, once Europe's biggest solar power equipment group, said on Wednesday it would file for insolvency, overwhelmed by Chinese rivals who had long been a thorn in the side of founder and CEO Frank Asbeck, once known as "the Sun King". Frankfurt- listed shares in the group last traded down...

  • NEW YORK, May 8- Florida utility company NextEra Energy Inc asked Texas regulators on Monday to reconsider a decision that threatens to kill its roughly $18 billion bid to acquire bankrupt Energy Future Holding Corp, the majority owner of Oncor, Texas' largest power network. The three-member Public Utility Commission of Texas has until June 7 to respond to...

  • SAN FRANCISCO, May 5- Puerto Rico's federally appointed financial oversight and management board on Friday filed for Title III bankruptcy protection for debt backed by sales tax revenues on the U.S. commonwealth, otherwise known as COFINA. Title III is an in-court debt restructuring process akin to U.S. bankruptcy that was part of the Puerto Rico rescue law...