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Business Events Corporate Restructuring

  • NEW YORK, June 13- J. Crew Group Inc disclosed terms on Tuesday of a debt restructuring deal that would roughly cut in half the value of its nearly $567 million in bonds, as well as extend their maturity by two years, after receiving the backing of some key creditors. The move comes after Reuters reported last month that two investment firms, Blackstone Group LP's GSO...

  • *Qatar National Bank pulls down Qatari index. *Emaar Properties supports Dubai market on spin-off plan. DUBAI, June 13- Gulf stock markets were mixed on Tuesday as Qatar fell back, still affected by other Gulf states' sanctions against Doha, while Abu Dhabi's Dana Gas soared on its proposal to restructure a $700 million sukuk.

  • LONDON, June 13- A group of International Bank of Azerbaijan creditors has filed an objection in a U.S. court against the state-run bank's $3.3 billion debt restructuring plan. Asset managers Fidelity Management& Research Company and Franklin Templeton Investment Management Ltd and hedge funds Promeritum Fund SPC and VR Global Partners LP are members of the...

  • TORONTO, June 9- Canada's main stock index rose in morning trade on Friday, boosted by sharp gains for big banks as employment and industrial data pointed to renewed health in the domestic economy. But department store operator Hudson's Bay Co slumped 11.3 percent to C $8.53 after the owner of Saks Fifth Avenue detailed a major restructuring plan that will cut...

  • Shares of the Seattle- based clothing and accessories retailer ended 10.3 percent higher after having surged as much as 18 percent in their biggest intraday percentage gain since February 2009. Once it goes private, Nordstrom may be able to restructure its business, which is more difficult as a public company, said Erich Joachimsthaler, chief executive of...

  • Shares of the Seattle- based clothing and accessories retailer ended 10.3 percent higher after having surged as much as 18 percent in their biggest intraday percentage gain since February 2009. Once it goes private, Nordstrom may be able to restructure its business, which is more difficult as a public company, said Erich Joachimsthaler, chief executive of...

  • Shares of the Seattle- based clothing and accessories retailer were last up 10.5 percent at mid-afternoon after having surged as much as 18 percent in their biggest intraday percentage gain since February 2009. Once it goes private, Nordstrom may be able to restructure its business, which is more difficult as a public company, said Erich Joachimsthaler, chief...

  • Shares of the Seattle- based clothing and accessories retailer were last up 11 percent after having surged as much as 18 percent in their biggest intraday percentage gain since February 2009. The company now has a market value of about $7.4 billion. Going private may help Nordstrom restructure its business, which is more difficult as a public company, said Erich...

  • Shares of the Seattle- based clothing and accessories retailer were last up 11 percent after having surged as much as 18 percent in their biggest intraday percentage gain since February 2009. The company now has a market value of about $7.4 billion. Going private may help Nordstrom restructure its business, which is more difficult as a public company, said Erich...

  • *New loan includes previously borrowed 80 mln euros. ZAGREB, June 8- Indebted Croatian food group Agrokor has secured a 480 million euro loan, a government-appointed restructuring expert said on Thursday, giving a boost to his efforts to stabilise the biggest private sector employer in the Balkans. Ante Ramljak said the money was arranged by bondholders led by...

  • ZAGREB, June 8- Indebted Croatian food group Agrokor has secured a 480 million euro loan, a government-appointed restructuring expert said on Thursday, giving a boost to his efforts to stabilise the biggest private sector employer in the Balkans. Ante Ramljak said the money was arranged by bondholders led by Knighthead Capital Management and domestic banks,...

  • TOKYO, June 7- Japan Display Inc is considering a deeper restructuring than it first announced, including seeking outside financial help, as its late entry into OLED technology has caused the loss of business with Apple Inc, the Nikkei business daily reported on Wednesday. Japan Display shares climbed 11 percent following the report of the latest possible...

  • DETROIT/ NEW YORK, June 6- General Motors Co shareholders on Tuesday overwhelmingly rejected proposals by hedge fund Greenlight Capital to restructure the company's stock and reshape its board, backing Chief Executive Mary Barra's efforts to rev up the company's stalled share price. Fending off the challenge from Greenlight founder David Einhorn does not...

  • NEW YORK, May 30- A federal judge on Tuesday ordered the trustee for Puerto Ricos COFINA bonds not to make a $16 million payment due on June 1, allowing creditors to litigate competing claims to the money that could be central to how the bankrupt U.S. territory restructures debt. Judge Laura Taylor Swain made the ruling during a hearing in her Manhattan courtroom,...

  • The Fort Myers, Florida- based company said the bankruptcy would not impact its 179 treatment centers with locations across 17 U.S. states and Latin America. The company's lenders agreed to provide $75 million for working capital during its bankruptcy and a group of creditors agreed to invest $75 million into the reorganized business. The new investment is...

  • Bankruptcy Judge Kathy Surratt-States of St. Louis to reject a request by an official committee of creditors to hire an expert to review pre-bankruptcy transactions. Creditors have said in court filings that San Francisco private equity funds Golden Gate Capital and Blum Capital, which together hold 98.5 percent of the company and control its board,...

  • *New CEO to take the helm from July 1. OSLO, May 24- Oslo- listed rig firm Seadrill named a new chief executive from within its own ranks on Wednesday and said its talks to restructure $14 billion of debt and liabilities had reached an advanced stage. Anton Dibowitz, current chief commercial officer, will take the top job from July 1, succeeding Per Wullf who will remain a...

  • MILAN, May 23- Monte dei Paschi di Siena is close to reaching an agreement with the European Commission that will pave the way for a state bailout of Italy's fourth biggest bank, a senior Italian treasury official said on Tuesday. Together with two Veneto- based lenders, the Tuscan bank has been locked in talks for months with European regulators that must approve...

  • NEW YORK, May 19- The U.S. Department of Justice's bankruptcy watchdog said on Friday it plans to appoint a committee of retirees in Puerto Rico's bankruptcy to negotiate for pensioners facing benefit cuts as part of the island's debt restructuring. Puerto Rico, carrying some $50 billion in unfunded pension liabilities, "clearly needs a retiree committee and...

  • DETROIT, May 18- General Motors Co plans to quit selling vehicles in India by the end of this year and will sell operations in South Africa, the latest steps in a strategy of focusing cash and engineering effort on fewer, more profitable markets. The Detroit automaker said on Thursday it will take a $500 million charge in the second quarter to restructure...