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  • NEW YORK, July 13- Puerto Rico pleaded with creditors on Monday not to engage in lengthy litigation over its $72 billion debt, but provided little information about how a debt restructuring would affect them. Some top bondholders have already taken Puerto Rico to court over a restructuring law passed last summer which would have affected the island's public...

  • NEW YORK, July 13- Investors in Puerto Rico hope to get specific information about how the commonwealth plans to restructure debt when government officials meet with creditors on Monday, but there are fears that any bungled messaging could knock bond prices. Puerto Rico Governor Alejandro Garcia Padilla dropped a bombshell on holders of its $72 billion debt...

  • Treasury Secretary Jack Lew said Greece and its creditors appeared to be closer to a deal on Friday, adding it is critical that the country make structural reforms and that its unsustainable debt is partially restructured. Lew said he did not expect the U.S. economy to experience "huge turbulence" if negotiations go badly with Greece, whose prime minister...

  • *Schaeuble concedes Greece needs some debt restructuring. *Greece submits proposals in hopes to secure third bailout. In the latest proposals, Greece has asked for 53.5 billion euros to help cover its debts until 2018, a review of primary surplus targets and "reprofiling" the country's long-term debt.

  • *Schaeuble concedes Greece needs some debt restructuring. *Race to get agreement on Greece's third bailout. A further vote would be needed to turn them into law next week if euro zone leaders agree at a summit on Sunday that the proposals are a basis for starting negotiations on a three-year loan and releasing some bridging funds to keep Greece afloat.

  • *Schaeuble concedes Greece needs some debt restructuring. *Race to get agreement on Greece's third bailout. Germany, the biggest creditor, meanwhile took a small step towards Athens by conceding that Greece will need some debt restructuring as part of a proposed new three-year loan programme to make its economy viable.

  • *Schaeuble says debt "haircut" for Greece needed but illegal. FRANKFURT/ ATHENS, July 9- Germany conceded on Thursday that Greece would need some debt restructuring as part of any new loan programme to make its economy viable as the Greek cabinet raced to finalise reform proposals to avert an imminent economic meltdown. Greece has already had two bailouts worth...

  • LUXEMBOURG/ ATHENS, July 9- The European Union's chairman joined growing international calls for Greece to be granted debt restructuring as part of any new loan deal if it delivers convincing reforms to avert imminent bankruptcy. The call was an implicit challenge to Germany, Athens' biggest creditor, which has so far ruled out any write-offs as illegal and...

  • Puerto Rico is trying to restructure at least part of its $72 billion in debt and is pushing for Congress to allow its municipalities to file under chapter 9 of the U.S. bankruptcy code. The House Judiciary Committee is considering a bill reintroduced in February by Puerto Rico's resident commissioner, Pedro Pierluisi, that would change the bankruptcy code to...

  • NEW YORK, July 8- Puerto Rico has hired Citi as a broker-dealer as the island seeks to restructure its debt, an industry source said on Wednesday. "As main bankers in this process we have Citi... and as general restructuring coordinator we have Millstein," Acosta said on Tuesday. For example, there may be transactions in which we have Citi and a second bank. "

  • Governor Alejandro Garcia Padilla of Puerto Rico dropped a bombshell on debt holders a week ago by saying he wanted to restructure debt and postpone bond payments. He urged changes to U.S. bankruptcy laws that currently exclude Puerto Rico. Like U.S. states, Puerto Rico cannot file for bankruptcy protection.

  • July 6- Struggling teen clothing retailer American Apparel Inc launched a restructuring plan to cut costs but warned it may not be enough to meet funding requirements in the next 12 months. American Apparel said there could be no guarantee that even after the restructuring it would have sufficient funds in the next 12 months unless it raised additional...

  • July 6- Struggling teen clothing retailer American Apparel Inc said it may need to raise more capital in the next 12 months as part of a new restructuring plan aimed at cutting costs.

  • JAKARTA, July 3- Indonesia's communications ministry has appealed to the country's Supreme Court against PT Bakrie Telecom Tbk's debt restructuring, a minister told Reuters on Friday. Bakrie Telecom, part of the heavily indebted Bakrie Group, held a creditors' vote last year on its restructuring proposal, which was then validated by a Jakarta court.

  • July 2- Rare earths miner Molycorp Inc said it received U.S. bankruptcy court approval for interim financing of $22 million to support its operations. The court has approved the $22 million financing only on an interim basis, and has scheduled a final hearing on the debtor-in-possession financing for July 20, 2015, Molycorp said on Thursday.

  • July 2- Rare earths miner Molycorp Inc said it received U.S. bankruptcy court approval for interim financing of $22 million to support its operations. On June 25, the only U.S. supplier of rare earths filed for Chapter 11 bankruptcy protection along with its subsidiaries in North America, to restructure $1.7 billion of debt in its U.S. and Canadian operations.

  • State banks Banco do Brasil SA and Caixa Econômica Federal, as well as private-sector lenders Itaú Unibanco Holding SA, Banco Santander Brasil SA and Banco Bradesco SA waived immediate repayment to allow Sete to continue with a reorganization program, said the sources, who requested anonymity due to legal restrictions on discussing the issue publicly.

  • July 1- Moody's Investors Service on Wednesday downgraded Puerto Rico's general obligation and guaranteed bonds further into junk territory, citing Governor Alejandro García Padilla's declaration that the commonwealth cannot pay its debt. Moody's said the commonwealth's decision to devise broad restructuring plans were "clear signs that holders of...

  • July 1- Municipal bond researchers at Franklin Templeton, whose funds are among the largest owners of Puerto Rico debt, on Wednesday predicted a "long and costly" legal battle as the Caribbean nation tries to restructure more than $70 billion in obligations. "At the very least, in our assessment, Puerto Rico can expect creditors to seek legal affirmation and...

  • July 1- Puerto Rico's distressed power authority, PREPA, avoided default on Wednesday by making a $415 million bond payment, but creditors cautioned if restructuring negotiations with the utility over its $9 billion debt deteriorate it would take legal action. Puerto Rico's governor, Alejandro Garcia Padilla, said on Monday he wanted to restructure the debt...