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Business Events Business Failures

  • BOGOTA/ MADRID, March 14- Colombia's government regulator said on Tuesday it had ordered the liquidation of Electricaribe, an affiliate of Spain's Gas Natural, but the company had asked Colombia to find a way to allow it to keep trading there. But a source familiar with the matter said on Tuesday that Gas Natural would file a complaint within 15 days with the World...

  • 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...

  • March 8- Westinghouse Electric Co LLC, the U.S. nuclear power plant developer owned by troubled Japanese electronics giant Toshiba Corp, has brought in bankruptcy attorneys from law firm Weil Gotshal& Manges LLP, people familiar with the matter said on Wednesday. A Westinghouse spokeswoman declined to comment on Weil's role, but said that Westinghouse has...

  • March 7- Brookfield Asset Management Inc said on Tuesday it would buy one of the two "yieldcos" of bankrupt U.S. solar company SunEdison Inc and take a 51 percent stake in the other, for a total of about $1.41 billion. TerraForm Global owns or has contracts to acquire 952 megawatts of wind and solar power in Brazil, India, China, South Africa, Thailand, Malaysia and...

  • March 2- Liquidator Gordon Brothers Group won the auction on Thursday for the intellectual property of the Wet Seal LLC with a bid of $3 million, besting the $1.5 million initial offer from Canadian retailer YM Inc, people familiar with the matter said. Gordon Brothers and Versa Capital Management, the private equity owner of Wet Seal, declined to comment.

  • The company, known for party dresses worn by celebrities including Selena Gomez and Drew Barrymore, listed assets in the range of $100 million to $500 million and liabilities in the range of $500 million to $1 billion, a filing under Chapter 11 with the U.S. Bankruptcy Court for the Southern District of New York showed. http://bit.ly/2lo7iMI.

  • LONDON, Feb 27- For every buyer of futures and options there must be a seller. For every long position there must be a corresponding short position. Since September 2009, the U.S. Commodity Futures Trading Commission has employed a four-way classification for all traders with reportable positions in crude oil.

  • LONDON, Feb 27- For every buyer of futures and options there must be a seller. For every long position there must be a corresponding short position. Since September 2009, the U.S. Commodity Futures Trading Commission has employed a four-way classification for all traders with reportable positions in crude oil.

  • 8 x8 shares rose as much as 14 percent on the news and ended trading up 10 percent at $16.15 in New York on Friday, giving the company a market capitalization of close to $1.5 billion. Based in San Jose, California, 8 x8 competes with companies in the so-called voice over internet protocol sector, including RingCentral Inc, Vonage Holdings Corp and Shoretel Inc..

  • MELBOURNE, Feb 21- London copper slipped on Tuesday as the dollar pushed ahead, but ongoing supply concerns from industrial action in Chile and an Indonesian export permit dispute underpinned prices. Three-month copper on the London Metal Exchange slipped by 0.5 percent to $6,036.50 a tonne by 0720 GMT, paring gains after a 1.9 percent rally in the previous...

  • 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...

  • NEW YORK, Jan 27- U.S. "We see it all the time," with new clients, said Chris Walters of GenSpring Family Offices, SunTrust Bank Inc's branch for clients with more than $50 million in assets. Steven Mnuchin, a former Goldman Sachs Group Inc partner who is Trump's pick to lead the U.S. Treasury Department, was grilled by members of the Senate last week for inadvertently...

  • NEW YORK, Jan 27- U.S. "We see it all the time," with new clients, said Chris Walters of GenSpring Family Offices, SunTrust Bank Inc's branch for clients with more than $50 million in assets. Steven Mnuchin, a former Goldman Sachs Group Inc partner who is Trump's pick to lead the U.S. Treasury Department, was grilled by members of the Senate last week for inadvertently...

  • WILMINGTON, Del., Jan 24- Judges in Delaware and Canada approved on Tuesday a plan to pay more than $7 billion to creditors of Nortel Networks, ending years of litigation over the former telecommunications company that filed for bankruptcy in 2009.. Bankruptcy Judge Kevin Gross in Wilmington, Delaware and Frank Newbould of the Superior Court of Justice in...

  • WILMINGTON, Del., Jan 24- Judges in Delaware and Canada approved on Tuesday a plan to pay more than $7 billion to creditors of Nortel Networks, ending years of litigation over the former telecommunications company that filed for bankruptcy in 2009.. Bankruptcy Judge Kevin Gross in Wilmington, Delaware and Frank Newbould of the Superior Court of Justice in...

  • Business leaders must become part of the solution and further aid humanitarian organizations' efforts, Richard Curtis told CNBC.

  • *Bidders want court-led turnaround for Japan ops- source. TOKYO, Jan 19- U.S. buyout firm Bain Capital has joined Key Safety Systems in the U.S. auto parts supplier's bid to rescue Takata Corp, a source said, as the Japanese firm struggles for survival after a massive recall linked to its faulty air bags. Shares in Takata closed 17.3 percent lower, falling by their daily...

  • Retailers filing for bankruptcy in the past year include Aeropostale Inc, Pacific Sunwear of California Inc, Sports Authority, Vestis Retail Group and American Apparel. An affiliate of private equity firm Sycamore Partners agreed to provide a $25.75 million "stalking horse" bid for the company's intellectual property, which includes its trademarks, website...

  • Jan 17- Limited Stores LLC, owner of U.S. women's apparel chain The Limited, said on Tuesday it filed for bankruptcy. Limited Stores also said it agreed to sell its intellectual property and some related assets to an affiliate of private equity firm Sycamore Partners. Limited Stores, which filed for Chapter 11 protection in the Delaware bankruptcy court, said on...