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  • Defending AIG's split: CEO Wednesday, 3 Feb 2016 | 7:42 AM ET
    Defending AIG's split: CEO

    Peter Hancock, AIG CEO, discusses his company's restructuring plans despite objections from some investors.

  • BALDWYN, Miss.— Fabric and sewing supply retailer Hancock Fabrics filed for Chapter 11 bankruptcy protection Tuesday, seeking to reorganize for the second time in nine years. The company, based in Baldwyn, Mississippi, made the filing Tuesday in U.S. Bankruptcy Court in Delaware, saying that revenues for the holiday retail season were $8 million below...

  • Unemployment has steadily improved since peaking at 15.1 percent in 2012, months before Ireland exited dependence on European and International Monetary Fund loans. Ireland faced bankruptcy in 2010 as the cost of rescuing six domestic banks crippled the country's ability to finance itself. The bailout gave Ireland time to restructure banks, repair its...

  • NEW YORK, Feb 1- Puerto Rico's utility PREPA, which has been negotiating a restructuring deal with creditors, on Monday released its financial statements for 2014, showing a 37 percent slide in operating income for the year. Accounts receivable rose by 7.2 percent to $1.6 billion, with those from the government sector up 30 percent to $803.7 million.

  • NEW YORK, Feb 1- Puerto Rico's utility PREPA, which has been negotiating a restructuring deal with creditors, on Monday released its financial statements for 2014, showing a 37 percent slide in operating income for the year. Operating income for the year to June 30 2014 was $223 million, the utility said, while operating expenses fell 5.4 percent.

  • RCS Capital listed total assets of $2 billion and debts of $1 billion in its Chapter 11 filing in Delaware, court documents showed on Monday. Under the restructuring plan, lenders will inject $150 million into broker-dealer Cetera and ties to Schorsch will be cut by eliminating common shares and some $500 million in preferred stock, court documents showed.

  • SAN JUAN, Puerto Rico— Puerto Rico's government is pushing a bond swap with creditors to help generate revenue as U.S. legislators prepare to debate creation of an oversight authority to help pull the island out of a deepening economic crisis. "A crisis of this magnitude must be addressed in concert, otherwise we risk our ability and the opportunity to escape the...

  • Inversion deals: Greed, or good business? Sunday, 31 Jan 2016 | 9:04 AM ET
    Johnson Controls

    Nearly 50 U.S. companies have used inversions to reincorporate overseas in recent years. Is it good business or greed?

  • BEIJING, Jan 31- Mid-tier Chinese banks are increasingly using complex instruments to make new loans and restructure existing loans that are then shown as low-risk investments on their balance sheets, masking the scale and risks of their lending to China's slowing economy. The size of this' shadow loan' book rose by a third in the first half of 2015 to an estimated...

  • Puerto Rico seeks debt exchange deal with creditors Friday, 29 Jan 2016 | 3:25 PM ET

    SAN JUAN, Puerto Rico— Puerto Rico is pushing for a voluntary debt exchange deal with creditors as it struggles to manage a $72 billion public debt load that the governor has said is unpayable and needs restructuring. He reiterated a call for U.S. Congress to provide Puerto Rico with a debt-restructuring mechanism so it can avoid lawsuits as it tries to emerge...

  • SAN JUAN, Puerto Rico— Puerto Rico's power company said Thursday that it reached a new deal with bondholders as it seeks to restructure roughly $9 billion in debt. The Puerto Rico Electric Power Authority bondholder group said it and other creditors would provide $111 million through the purchase of new bonds. Puerto Rico is struggling with $72 billion in...

  • SAO PAULO, Jan 28- Debt restructuring firms are poised to pull in record amounts of business in Brazil this year as the country's worst recession in decades and a corruption probe that has cast a shadow over dozens of companies leads to a surge in defaults. Scenting an opportunity, U.S. restructuring shops including FTI Consulting Inc, Houlihan Lokey Inc, and...

  • Puerto Rico's PREPA, creditors revive restructuring deal Thursday, 28 Jan 2016 | 12:54 AM ET

    SAN JUAN, Jan 28- A deal to restructure Puerto Rico's debt-laden power utility, PREPA, received new life late on Wednesday after the agency and bondholders agreed to extend a crucial deadline. Righting PREPA's ship is seen as a key step in fixing Puerto Rico, which faces $70 billion of debt, a 45 percent poverty rate and a shrinking tax base as residents increasingly...

  • SAN JUAN, Jan 27- U.S. Senate Democrats, in a letter to Majority Leader Mitch McConnell, on Wednesday called for congressional action on Puerto Rico, demanding that legislation to resolve the island's financial crisis include tools to restructure debt. Republican Senators Orrin Hatch of Utah, Lisa Murkowski of Alaska and Chuck Grassley of Iowa last month...

  • SAN JUAN, Jan 27- U.S. Senate Democrats, in a letter to Majority Leader Mitch McConnell, on Wednesday called for congressional action on Puerto Rico, demanding that legislation to resolve the island's financial crisis include tools to restructure debt. Republican Senators Orrin Hatch of Utah, Lisa Murkowski of Alaska and Chuck Grassley of Iowa last month...

  • Puerto Rico creditor talks expected Friday -source Tuesday, 26 Jan 2016 | 3:29 PM ET

    NEW YORK, Jan 26- Puerto Rico's advisors are expected to meet with creditors on Friday as the island continues to try and negotiate a debt restructuring deal, according to a source familiar with the situation. Facing $70 billion in debt and a 45 percent poverty rate, Puerto Rico is trying to solve an economic crisis before it hits substantial debt payments in May...

  • The company forecast full year operating earnings of $2.95- $3.10 per share, including an expected benefit of 64 cents per share from its cost cutting and restructuring plan. DuPont and Dow Chemical Co are in the process of a merger that would create a company with an estimated combined market capitalization of about $130 billion as of Dec. 11, when the deal was...

  • Jan 25- SandRidge Energy Inc is exploring debt restructuring options, according to people familiar with the matter, as the heavily indebted U.S. oil and gas exploration and production company struggles with the fallout from plunging energy prices. Debtwire had reported on Jan. 13, also citing unnamed sources, that SandRidge- which produces oil and gas from shale...

  • NEW YORK/ SAN JUAN, Jan 24- Puerto Rico's struggling power utility PREPA said on Sunday it had reached a deal with some lenders that protects it from litigation through Feb. 12, but the agency's future remains uncertain after the collapse of a restructuring plan on Friday. Fixing PREPA, which is hamstrung by inefficient governance and out-of-date plants, is a key...

  • NEW YORK/ SAN JUAN, Jan 24- Puerto Rico's struggling utility PREPA said on Sunday it had extended a restructuring deal with its lenders, although bondholders were left out as it continues to negotiate with them after an impasse late on Friday. After months of negotiations PREPA in December agreed to a restructuring deal with creditors, an agreement which would...