Business Events Bankruptcy

  • Aug 28- Hedge fund manager D.E. Shaw& Co LP is weighing a bid for SunEdison Inc's controlling stake in TerraForm Power Inc, the bankrupt U.S. renewable energy producer's most valuable asset, according to people familiar with the matter. Shaw's emergence as a possible bidder for TerraForm Power indicates that the potential sale process for the so-called "Class B"...

  • NEW YORK, Aug 26- Bankrupt U.S. teen retailer Aeropostale Inc received bids this week for its business from private equity firm Sycamore Partners, as well as liquidators, firms that wind down businesses, according to people familiar with the matter. Investment firm Versa Capital Management LLC did not submit a bid for the business, the people said.

  • The Caesars Entertainment Corp.'s Caesars Palace hotel stands in Las Vegas, Nevada.

    A U.S. judge refused to extend a shield for Caesars Entertainment from bondholder lawsuits seeking some $11 billion in claims.

  • CHICAGO, Aug 26- A U.S. judge refused to extend a shield for Caesars Entertainment Corp from bondholder lawsuits seeking some $11 billion in claims, according to a ruling in U.S. Bankruptcy Court in Chicago on Friday.

  • Aug 26- Energy Future Holdings Corp, Texas' biggest power company, won U.S. court approval on Friday for a plan that will allow the bulk of its operations to exit Chapter 11 after two years of battling creditors. Dallas- based Energy Future filed for bankruptcy in April 2014 when weak electricity prices left it unable to service $42 billion in debt, mostly related to...

  • Negotiations are advancing thanks to the prospect of more cash for creditors following the $4.4 billion sale of another Caesars affiliate last month and the possibility of financial contributions from Caesars' private equity sponsors, Brendan Hayes, managing director of Millstein& Co said at a hearing. But negotiations need to take place without the threat...

  • WILMINGTON, Del., Aug 17- Energy Future Holdings Corp, Texas' biggest power company, urged a U.S. bankruptcy court on Wednesday to allow the bulk of its operations to exit Chapter 11, in the largest U.S. bankruptcy since the financial crisis. Energy Future filed for Chapter 11 in April 2014 with $42 billion in debt, the largest bankruptcy since General Motors Corp's in...

  • WILMINGTON, Del., Aug 17- Energy Future Holdings Corp, Texas' biggest power company, urged a U.S. bankruptcy court on Wednesday to allow the bulk of its operations to exit Chapter 11, in its latest bid to reorganize after two years of battling creditors in the largest U.S. bankruptcy since the financial crisis. "The time has come to... confirm a plan and actually emerge...

  • CHICAGO, Aug 17- A U.S. judge on Wednesday suggested the casino operating unit of Caesars Entertainment Corp ask its parent's private equity sponsors for money to fund a plan to exit its contentious $18 billion bankruptcy. Apollo Global Management LLC and TPG Capital Management LP formed the Caesars casino holding company in a 2008 buyout and the three groups...

  • NEW YORK, Aug 16- Univision Holdings Inc won a bankruptcy auction on Tuesday to acquire U.S. internet publisher Gawker Media LLC for $135 million, outbidding media company Ziff Davis LLC, which had made an initial offer of $90 million. Gawker founder Nick Denton said in a prepared statement that the company "could not have picked an acquirer more devoted to vibrant...

  • Nick Denton, founder and CEO of Gawker Media.

    The TV network and digital publisher has agreed to pay $135 million for the bankrupt blog network, Recode reports.

  • Aug 16- Univision Holdings Inc won the bankruptcy auction for U.S. internet publisher Gawker Media LLC on Tuesday with a bid of $135 million, beating media company Ziff Davis LLC, according to people familiar with the matter. The results of the auction will now go before a U.S. bankruptcy court judge for approval on Thursday. The sources asked not to be identified...

  • SAO PAULO, Aug 12- Sete Brasil Participações SA presented a draft reorganization plan on Friday that includes seeking up to $5 billion in funding and downsizing business, three months after the Brazilian rig leaser sought court protection against 18 billion reais in looming debt payments. Rio de Janeiro- based Sete Brasil is asking creditors, which include...

  • Aug 12- Bankrupt solar company SunEdison Inc on Friday joined its "yieldcos" in delaying earnings report for the second-quarter ended June 30. SunEdison is yet to file its 2015 annual repot, as well as its first-quarter report, after the company identified "material weaknesses" in its financial reporting, primarily related to problems with a newly implemented IT...

  • NEW YORK, Aug 12- A U.S. judge denied a request by shareholders of SunEdison Inc for an official committee to represent them in the bankruptcy of the U.S. renewable power plant developer, which the judge described as "hopelessly insolvent." In a setback for equity holders hoping to recover some of their investment, U.S. Bankruptcy Judge Stuart Bernstein said in his...

  • SAO PAULO, Aug 11- Oi SA is expected to burn less cash this quarter thanks to a June petition to win court protection from creditors, which is temporarily sparing Brazil's largest fixed-line phone carrier from paying debts, executives said on Thursday. Chief Executive Officer Marco Schroeder told analysts on a conference call that planned changes in industry...

  • *Company to hold conference call on Aug. 16. MADRID, Aug 10- Indebted renewable energy firm Abengoa said on Thursday it had reached a restructuring deal with its main creditors that will hand them control of the company, as it tries to avoid becoming Spain's biggest ever bankruptcy. Seville- based Abengoa- an engineering business which borrowed heavily over the...

  • SAO PAULO, Aug 11- Oi SA, the Brazilian phone carrier that filed for bankruptcy protection in June, posted a bigger-than-expected loss in the second quarter, reflecting the burden of a harsh recession and mounting competition that is eroding profit margins. In a Thursday securities filing, Rio de Janeiro- based Oi said it lost a net 656 million reais last quarter,...

  • Peabody, the biggest U.S. coal miner, filed for bankruptcy protection in April after a sharp drop in coal prices left it unable to service its $10.1 billion debt, much of it incurred for to expand in Australia. Peabody said it would review its assets in Australia to run a "smaller but more profitable" basis. The company said in May it would sell its interest in...

  • The company said on Wednesday it would also review its assets in Australia to run a "smaller but more profitable" business in the country.