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Business Events Bankruptcy

  • TOKYO, March 24- Toshiba Corp's main lenders are asking it to submit a bankruptcy filing for U.S. nuclear unit Westinghouse Electric Co LLC by the end of this month, the Nikkei business daily reported on Friday, without citing sources. Such a move would pile further pressure on the embattled conglomerate to make a quick decision over a Chapter 11 filing after...

  • TOKYO, March 24- Toshiba Corp's main lenders are asking Toshiba to submit a bankruptcy filing for its U.S. nuclear unit Westinghouse Electric Co LLC by the end of this month, the Nikkei business daily reported on Friday, without citing sources. Sumitomo Mitsui Banking Corp and Mizuho Bank Ltd have asked that Westinghouse file for Chapter 11 so that future losses...

  • Bankruptcy Judge Barry Schermer in St. Louis approved last week a plan by Peabody, which has valuable coal assets both in the United States and Australia, to emerge from bankruptcy in early April with about $2 billion of debt. In a notice of appeal filed with the Bankruptcy Court in St. Louis, about a dozen money managers who voted against the plan asked an appellate...

  • March 20- Westinghouse Electric Co LLC, the nuclear power plant developer owned by Japanese electronics company Toshiba Corp, is taking offers for a financing package to help it go through U.S. bankruptcy, people familiar with the matter said on Monday. Should it file for bankruptcy, the money would allow Westinghouse to continue to pay employees and build four...

  • March 20- Westinghouse Electric Co LLC, the nuclear power plant developer owned by Japanese electronics company Toshiba Corp, is taking offers for a financing package to help it go through U.S. bankruptcy, people familiar with the matter said on Monday. Should it file for bankruptcy, the money would allow Westinghouse to continue to pay employees and build four...

  • A U.S. judge formally approved Peabody Energy's plan to emerge from bankruptcy after the coal producer struck a settlement with the U.S. government.

  • St. Louis- based Peabody, the world's largest private-sector coal producer, owns mines in Australia and the United States and supplies the global market with the metallurgical coal used in steelmaking and the thermal coal used to generate electricity. In the environmental settlement, the Department of Justice was negotiating on behalf of the Environmental...

  • *White House opposed to Chapter 11 for Westinghouse- Yomiuri. *Govt spokesman says not aware that this is White House's stance. TOKYO, March 17- The Japanese government said it was not considering steps to support embattled Toshiba Corp and will share information with Washington on developments involving the firm and its U.S. nuclear unit Westinghouse.

  • ST. LOUIS, March 16- Peabody Energy Corp, the world's largest private sector coal producer, said on Thursday it expects to exit its Chapter 11 bankruptcy in early April after a U.S. judge said he would approve its plan to slash over $5 billion of debt. Bankruptcy Judge Barry Schermer said he was ready to sign an order to approve Peabody's bankruptcy emergence once...

  • ST. LOUIS, March 16- Peabody Energy Corp was set to receive court approval on Thursday to exit its Chapter 11 bankruptcy amid dramatically improved short-term prospects for its business compared to a year ago, when it sought Chapter 11 protection. Bankruptcy Judge Barry Schermer said he was ready to sign an order to approve Peabody's exit from bankruptcy,...

  • ST. LOUIS, March 16- Peabody Energy Corp, the world's largest private sector coal miner, struck a series of last-minute deals with some opponents of its plan to exit an $8 billion Chapter 11 bankruptcy, lawyers said in court on Thursday. The investors will drop a lawsuit against Peabody and other parties involved in the bankruptcy following a deal reached late...

  • Those investors- who said in court filings that they own between 5 and 7 percent of the unsecured bonds- will argue in U.S. Bankruptcy Court in St. Louis that Peabody's reorganization plan should be rejected because it violates a bankruptcy statute requiring equal treatment for owners of the same securities. "This is absolutely theft from a small group of people...

  • *Toshiba pushes Westinghouse sale but no clarity on Chapter 11. TOKYO, March 15- Shares in Toshiba Corp tumbled on Wednesday after it said it would consider a sale of Westinghouse but did not offer any clarity on whether it would proceed with a Chapter 11 filing for the U.S. nuclear unit- a move that could stem losses. Toshiba's failure to submit audited...

  • SAO PAULO, March 13- Grupo Schahin said on Monday it can execute a reorganization plan after an appeals court favored the ailing Brazilian engineering and rig-leasing conglomerate over disgruntled creditors, according to a statement. The reorganization, confirmed by a bankruptcy court a year ago, was challenged by a 13- bank consortium led by Itaú Unibanco...

  • *Toshiba has March 14 deadline to published audited Q3. TOKYO, March 10- Toshiba Corp's Westinghouse unit needs to decide by the end of the month whether to file for Chapter 11 bankruptcy so the Japanese conglomerate can compile audited third-quarter earnings without further delays, Japan's Finance Minister said on Friday. If it misses that date, it has eight...

  • TOKYO, March 10- Japan's Finance Minister Taro Aso said on Friday he thought Toshiba Corp's prospects of reporting its third-quarter earnings by a March 14 deadline depend in large part on whether its nuclear unit Westinghouse decides to file for Chapter 11 bankruptcy. "On the U.S. side, they have to decide about Chapter 11 quickly and until they do that, it seems it...

  • CHICAGO, March 9- Four individual investors of Peabody Energy Corp are accusing the company, certain hedge funds and other parties involved in the coal producer's Chapter 11 bankruptcy of breaching their fiduciary duties, according to a lawsuit filed on Thursday. Peabody has denied the allegations in the lawsuit, which was filed with the U.S. Bankruptcy Court...

  • Things are not looking good for Westinghouse

    Westinghouse Electric is bringing bankruptcy attorneys.

  • NEW YORK/ TOKYO, March 9- U.S. nuclear firm Westinghouse Electric Co LLC has hired bankruptcy attorneys, in a sign that owner Toshiba Corp is more seriously weighing a Chapter 11 filing as an option to help it rein in a multibillion dollar financial maelstrom. People familiar with the matter said the nuclear engineering company had brought in law firm Weil Gotshal&...

  • NEW YORK/ TOKYO, March 9- U.S. nuclear firm Westinghouse Electric Co LLC has hired bankruptcy attorneys, in a sign that owner Toshiba Corp is more seriously weighing a Chapter 11 filing as an option to help it rein in a multibillion dollar financial maelstrom. People familiar with the matter said Toshiba had hired law firm Weil Gotshal& Manges LLP as an exploratory...