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Business Events Bankruptcy

  • Feb 21- Buyout firm Sycamore Partners has won the auction for the e-commerce business and intellectual property of bankrupt U.S. women's apparel retailer The Limited with a bid of $26.8 million, people familiar with the matter said on Tuesday. Sycamore Partners outbid clothing firm Sunrise Brands LLC in the auction, the people said, asking not to be identified...

  • WILMINGTON, Del., Feb 17- Energy Future Holdings Corp, which owns the largest power network in Texas, received court approval on Friday to confirm its plan to exit bankruptcy and be acquired by NextEra Energy Inc in a deal valued at around $18 billion. Approval from the Public Utility Commission of Texas is required for the purchase of Energy Future's power...

  • Court declares Hanjin Shipping bankrupt

    A South Korean court picked a bankruptcy administrator and says any claims by creditors will be due by May 1.

  • NEW YORK— Ringling Bros. and Barnum& Bailey Circus may be shuttering, but Big Apple Circus has managed to cartwheel itself out of bankruptcy. A judge on Tuesday approved a deal that would save the circus by selling its tents, equipment and intellectual property to Big Top Works, an affiliate of the Florida- based investment firm Compass Partners LLC.

  • SAO PAULO, Feb 10- A group of bondholders in Oi SA appealed on Friday a ruling by a Dutch court that refused to declare insolvent two subsidiaries in the Netherlands, the latest setback in a protracted legal battle to solve Brazil's largest bankruptcy case on record. "The restructuring should treat similarly situated creditors equally," the International...

  • CHICAGO, Feb 8- A U.S. federal appeals court dismissed an emergency appeal by opponents of Peabody Energy Corp's reorganization plan on Wednesday, saying any complaints should be lodged after the plan is confirmed by the bankruptcy court. A bankruptcy panel of the 8th U.S. Circuit Court of Appeals did not address the merits of the motion. Peabody hopes to emerge...

  • CHICAGO, Feb 6- Opponents of Peabody Energy Corp's reorganization plan have filed an emergency appeal against a key piece of the coal producer's proposal they say violates U.S. bankruptcy law by prematurely requiring creditors to promise support it. At the heart of creditors' complaints are the terms of a $1.5 billion private recapitalization that Peabody...

  • Feb 6- Eastern Outfitters LLC, the parent of discount chain Bob's Stores and outdoor retailer Eastern Mountain Sports, filed for bankruptcy protection on Sunday, the latest U.S. retailer to do so amid increased competitive pressure facing the sector. Eastern Outfitters listed assets and liabilities in the range of $100 million to $500 million, according to...

  • SAO PAULO, Feb 2- A court in the Netherlands on Thursday decided that two subsidiaries of debt-laden Brazilian phone carrier Oi SA would not start bankruptcy proceedings, the company said in a securities filing. The filing confirmed a Reuters report that Oi Brasil Holdings Coöperatief UA and Portugal Telecom International Finance BV, would remain operating...

  • Feb 2- Wet Seal LLC filed for bankruptcy protection on Thursday, following reports last week that the struggling teen apparel retailer had closed all its stores after it was unable to find a buyer. The Irving, California- based company listed assets of $10 million- $50 million and liabilities of $50 million- $100 million in a filing with the U.S. bankruptcy court in...

  • The company said it signed an agreement with certain bondholders that includes a $19.25 million equity investment, with some debtors backing a $255.75 million rights offering. Vanguard also said it had obtained a $50 million debtor-in-possession financing facility, underwritten by Citibank NA, JPMorgan Securities LLC and Wells Fargo Bank NA.

  • NEW YORK, Feb 1- JPMorgan Chase& Co will pay $797.5 million in cash to end all litigation brought on behalf the former Lehman Brothers Holdings Inc, whose September 2008 collapse triggered a global financial crisis. Bankruptcy Judge Shelley Chapman in Manhattan. It follows JPMorgan's agreement last January to pay $1.42 billion in cash to resolve most other...

  • WILMINGTON, Del., Feb 1- Financially distressed companies that file for U.S. bankruptcy are emerging from court proceedings more quickly than ever, lowering legal costs but also forcing junior creditors to scramble to protect their interests. "It used to be a roach motel," said Melissa Jacoby, a professor at the University of North Carolina School of Law.

  • WILMINGTON, Del., Feb 1- Financially distressed companies that file for U.S. bankruptcy are emerging from court proceedings more quickly than ever, lowering legal costs but also forcing junior creditors to scramble to protect their interests. "It used to be a roach motel," said Melissa Jacoby, a professor at the University of North Carolina School of Law.

  • BRASILIA, Jan 31- Brazil plans to overhaul its bankruptcy law to help troubled companies survive a two-year recession that has led a record number of them to suspend debt payments, a senior member of the government's economic team said on Tuesday. President Michel Temer also plans to announce new measures next week to increase productivity and bolster the...

  • SAN FRANCISCO, Jan 27- San Bernardino, California won final court approval on Friday for its financial restructuring plan, clearing the way for the city to wrap up the bankruptcy case it launched more than four years ago when its leaders learned it was facing insolvency. "I look forward to the city having a prosperous future," U.S. Bankruptcy Judge Meredith Jury said...

  • ST. LOUIS, Jan 26- Peabody Energy Corp, the world's largest private-sector coal miner, can begin seeking creditor votes for a plan to cut $5 billion of debt and exit its Chapter 11 bankruptcy, a U.S. bankruptcy judge said on Thursday. Peabody has said it hopes to emerge from its $8 billion bankruptcy in April with a plan that will raise what lawyers called "a monster" $1.5...

  • ST. LOUIS, Jan 26- Peabody Energy Corp, the world's largest private-sector coal miner, can begin seeking creditor votes for a plan to cut $5 billion of debt and exit its Chapter 11 bankruptcy, a U.S. bankruptcy judge said on Thursday. Peabody has said it hopes to emerge from its $8 billion bankruptcy in April with a plan that will raise $1.5 billion in private capital...

  • SAO PAULO, Jan 26- A court in the Netherlands on Thursday postponed until Feb. 2 a decision on whether to enforce bankruptcy proceedings against two subsidiaries of phone carrier Oi SA, which is under creditor protection in Brazil, the company confirmed on Thursday in a securities filing. Reuters had reported the postponement of the ruling earlier on Thursday.

  • ST. LOUIS, Jan 26- Peabody Energy Corp, the world's largest private-sector coal miner, defended its bankruptcy exit plan in court on Thursday against opponents including state regulators, shareholders, environmental activists and even former executives. Bankruptcy Judge Barry Schermer for permission to begin seeking creditor votes on its plan to slash $5...