Corporate Finance Corporate Assets

  • Bankruptcy Judge Ralph Kirscher is the latest turn in a years-long hunt for assets of Timothy Blixseth, the founder of the Yellowstone Club, a private ski and golf resort near Big Sky with an elite group of members including Microsoft co-founder Bill Gates. Blixseth diverted hundreds of millions of dollars from a 2005 Credit Suisse loan to the club, using the...

  • *Commodity currencies benefit from OPEC output cut deal. LONDON, Sept 29- The dollar hit an eight-day high against the safe-haven yen on Thursday after an OPEC deal to cut oil output spurred a move into riskier assets, though questions over the efficacy of the agreement left the greenback off its earlier highs. The currencies of oil-exporting countries such as...

  • LONDON, Sept 29- Emerging stocks rose 0.6 percent on Thursday, led by energy-heavy Gulf and Russian bourses, though Saudi markets lagged and Indian assets sold off after New Delhi said it launched a strike on suspected militants based in Pakistan. The market was also rattled by a U.S. Congress vote to overturn a presidential veto of a law that would allow victims of...

  • The company said it had entered into a non-binding agreement with lenders AB Opportunity Fund LLC, AB Value Partners LP and affiliates of Milfam II LP under which these lenders have offered to buy Cosi's assets and serve as a "stalking horse" bidder in a sale process. The company said it had net sales of $22.3 million, with net losses of about $3.1 million and cash on...

  • In court documents, Cosi Inc. said it has between $10 million and $50 million in assets and the same amounts in debt. Last month, the company reported a second-quarter loss of $3.1 million after reporting a loss of $3.8 million in the same period a year before. Cosi said that its lenders AB Opportunity Fund, AB Value Partners and firms connected to Milfam, are...

  • The Boston- based company, known for its homemade flat bread, has assets of $31.24 million and debt of about $20 million, according to a court filing. The company said it had entered into a non-binding agreement with lenders AB Opportunity Fund LLC, AB Value Partners LP and entities affiliated with Milfam II LP under which the DIP lenders offered to buy Cosi's...

  • The company, known for its homemade flat bread, has assets of $31.24 million and debt of about $20 million, according to a court filing. The company said it had entered into a non-binding agreement with lenders AB Opportunity Fund LLC, AB Value Partners LP and entities affiliated with Milfam II LP under which the DIP lenders offered to buy Cosi's assets and serve as...

  • SHANGHAI, Sept 27- The landmark bankrupcty of Guangxi Nonferrous Metals Group Co Ltd is in line with central government objectives such as eliminating "zombie enterprises," said the commission responsible for managing state assets in China's Guangxi Zhuang Autonomous Region, according to online financial magazine Caixin. Unlisted Guangxi Nonferrous,...

  • FRANKFURT, Sept 23- Innogy, the renewables, network and retail business of German utility RWE, could fetch up to 5 billion euros and raise the largest amount in an initial public offering in Europe for nine years when it lists next month. Germany's No.2 utility is pooling and listing its healthy assets-- grids, retail and renewables-- hoping to attract investors who...

  • BEIJING, Sept 22- China's forex regulator said on Thursday it will crack down on fake overseas mergers and acquisitions used by some local firms and individuals to move assets out of the country, even as capital outflow pressure is easing. The Chinese government has been encouraging local firms to invest overseas under Beijing's "One Belt, One Road" program, but...

  • BEIJING, Sept 22- China's forex regulator acknowledged that it has found Chinese firms and individuals moving assets overseas via mergers and acquisition deals, but officials said pressure on capital outflows is easing. "In the past year we found some Chinese firms and individuals moving assets overseas via outbound investment, this is certainly a key area of...

  • Fed decision is great for corporates: Expert

    Melanie Czarra, EMEA co-head of corporate DCM at UBS, discusses how the Fed's stance will affect merger and expansion decisions by companies.

  • LONDON, Sept 19- Emerging stocks rose 1.3 percent on Monday and currencies firmed on a bet the U.S. "The environment is and will remain supportive for emerging assets," HSBC strategist Murat Toprak said. Aside from the Fed, Toprak cited stabilization in commodity prices and better economic data from China.

  • CARMEL, Ind.— For-profit college operator ITT Educational Services Inc. has filed for Chapter 7 bankruptcy. The Indianapolis Star reported Friday that the Carmel, Indiana- based company is unloading its assets after the shutdown of 130 campuses nationwide. Information from: The Indianapolis Star, http://www.indystar.com.

  • Sept 14 (Reuters)- Specialty golf retailer Golfsmith International Inc filed for Chapter 11 bankruptcy on Wednesday and agreed to sell its Canadian retail chain to a group led by Fairfax Financial Holdings Ltd and a unit of CI Investments Inc.. Golfsmith listed both its assets and liabilities at between $100 million and $500 million, according to a filing with...

  • Sept 14- Specialty golf retailer Golfsmith International Inc filed for Chapter 11 bankruptcy on Wednesday and agreed to sell its Canadian retail chain to a group led by Fairfax Financial Holdings Ltd and a unit of CI Investments Inc.. Golfsmith listed both its assets and liabilities at between $100 million and $500 million, according to a filing with the U.S....

  • *$51 bln commodity investment Jan-July highest since 2009. LONDON, Sept 9- Flows into commodity investments have hit their highest levels since the global financial crisis as negative interest rates boost the appeal of real assets, but they risk reversing as rallies falter in metals and oil. Commodity prices had been sliding for several years as growth...

  • SAO PAULO, Sept 5- Brazil's largest fixed line carrier Oi SA on Monday unveiled a debt restructuring proposal, offering to sell assets and proposing a debt-for-equity swap option that could mean a 70 percent haircut for bondholders. At the same time, the company said it is willing to repay secured creditors such as the Brazil's BNDES development bank in full over...

  • CHICAGO, Sept 1- A group of SandRidge Energy Inc shareholders is accusing the oil and gas producer of grossly understating its value, threatening to derail a prepackaged bankruptcy agreement with its lenders. Shareholders are hoping to prove SandRidge may be the rare bankruptcy where a company's assets are valuable enough to repay creditors and have money...

  • CHICAGO, Sept 1- A group of SandRidge Energy Inc shareholders are accusing the oil and gas producer of grossly understating its value, threatening to derail a prepackaged bankruptcy agreement with its lenders. Shareholders are hoping to prove SandRidge may be the rare bankruptcy where a company's assets are valuable enough to repay creditors and have money...