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  • Puerto Rico, with $70 billion in total debt and a 45 percent poverty rate, faces economic collapse without a solution to its debt. If those talks failed, Puerto Rico or its agencies could restructure debt under rules similar to U.S. bankruptcy law, including in certain situations via "cram-down"- forcing cuts on creditors that do not agree to them.

  • SAN JUAN, April 6- Puerto Rico's governor on Wednesday signed an emergency bill allowing the government to halt payments on its debt, throwing into doubt broader restructuring plans to stave off a financial collapse of the U.S. territory. The measure, which earlier passed Puerto Rico's legislature, lets Governor Alejandro Garcia Padilla declare a moratorium...

  • SAN JUAN, April 6- Puerto Rico's House of Representatives early on Wednesday passed an emergency bill allowing the government to halt payments on its debt, throwing into doubt broader restructuring plans to stave off a financial collapse of the U.S. The bill approved in the wee hours of Wednesday by a vote of 26-21 follows approval of the bill by the Senate on...

  • SAN JUAN, April 5- Bondholders with nearly a third of Puerto Rico's $17 billion outstanding General Obligation bonds on Tuesday unveiled a proposal for a debt restructuring they claim would help the island avoid outright default. "Incurring additional debt at a higher cost is not the answer to the Commonwealth's fiscal issues," Melba Acosta, president of Puerto...

  • SAN JUAN, April 5- Puerto Rico's House of Representatives on Tuesday debated a bill to halt debt payments, while a government official fired back at creditors who suggested the U.S. territory was shirking efforts to hold restructuring talks. Burdened by a $70 billion debt load it says it cannot pay and a 45 percent poverty rate that has led to a steady exodus of its...

  • SAN JUAN, April 5- Bondholders with nearly a third of Puerto Rico's $17 billion outstanding General Obligation bonds on Tuesday unveiled a proposal for a debt restructuring they claim would help the island avoid outright default. These bondholders earlier criticized legislation being rushed through Puerto Rico's Senate and House on Tuesday that would...

  • April 5- Energy and mining company Freeport-McMoRan Inc said the chief executive of its oil and gas unit, Jim Flores, is stepping down, as the company restructures its business to cut costs. The company, under pressure from largest shareholder Carl Icahn and weak commodity prices, said in October it was looking at a strategic review of its oil and gas business,...

  • DUBAI, April 5- Al Jaber Group missed a March repayment on its $4.5 billion restructuring, three sources aware of the matter told Reuters on Tuesday, adding pressure on the Abu Dhabi- based conglomerate to quickly secure a new debt deal to save it from collapse. A spokesman for Al Jaber declined to comment. Al Jaber began speaking to creditors last year about...

  • BEIJING, April 3- Creditors in China's Bohai Steel Group have agreed to extend the maturity of their loans and lower the interest rates under a second restructuring plan for the troubled steelmaker, according to financial magazine Caixin on Sunday. China's steelmakers are in the eye of a storm as Beijing moves to slim down bloated industries, including steel...

  • April 1- An extra-marital affair of a restructuring adviser working for the bankrupt unit of Caesars Entertainment Corp has cost the casino operator a team of key advisers just as the unit faces a Monday deadline to submit a plan to end its $18 billion bankruptcy. In a little-noticed ruling from the bench in Chicago on March 16, a judge said that Knoll's team's...

  • SAO PAULO, March 30- State-controlled Petróleo Brasileiro SA, the Brazilian oil producer at the center of a sweeping corruption probe, plans to save 1.8 billion reais a year through a reorganization plan that includes the merger of several business units, job cuts and a streamlining of activities. In a securities filing, the company known as Petrobras said on...

  • March 30- SandRidge Energy Inc confirmed on Wednesday it has hired advisers to evaluate options including a bankruptcy filing, in what could be the most high-profile reorganization yet in U.S. shale oil industry. The company, battered by a 60 percent slide in oil prices since mid-2014, said in a regulatory filing there was substantial doubt about its financial...

  • MOSCOW, March 30- Russian Economy Minister Alexei Ulyukayev said on Wednesday he supported a decision to restructure state development bank VEB's debts to the central bank as part of rescue measures for the troubled lender. Prime Minister Dmitry Medvedev told VEB's supervisory board on Tuesday that the government would provide 150 billion roubles to...

  • SAO PAULO, March 24- A group of unidentified Oi SA bondholders has hired Moelis& Co to advise on a plan by Brazil's most indebted phone carrier to restructure part of its 55 billion reais in obligations, a source with direct knowledge of the matter said on Thursday. The group owns about $2.5 billion in Oi notes, said the source, who requested anonymity to speak freely...

  • Yahoo's board battle

    Jennifer Saba of Thomson Reuters Breakingviews, and Steve Odland, CNBC Contributor and former Office Depot CEO, discuss Starboard's proxy fight against Yahoo and what it means for the Internet company.

  • Blodget: Still value in Yahoo

    Business Insider CEO Henry Blodget weighs in on Starboard's proxy fight at Yahoo and what he thinks the Internet company can improve.

  • Grading Yahoo's board

    Bill George of Harvard Business School, and Jeffrey Sonnenfeld of Yale School of Management, discuss the proxy fight launched at Yahoo by Starboard Value and how the current and proposed boards could do.

  • Mahaney: Something dramatically wrong at Yahoo

    Mark Mahaney from RBC Capital Markets talks about Starboard Value's proxy fight with Internet giant Yahoo.

  • Starboard launches proxy fight on Yahoo

    After a WSJ report activist hedge fund Starboard Value wanted to remove Yahoo's board, the company has officially announced it will nominate nine members to the board.

  • HONG KONG, March 24- Bohai Steel Group's 2017 bonds held steady on Thursday, after bouncing from lows following reports the Chinese state-owned steelmaker was planning to restructure $29.61 billion in debt. China's steelmakers are in the eye of a storm as Beijing moves to slim down bloated industries, including steel and coal, to make the economy more efficient...