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  • HAVANA/ PARIS, Dec 15- Paris Club creditor nations have forgiven $8.5 billion of Cuba's $11.1 billion debt and restructured payments on the remainder with easy terms but the deal imposes severe penalties if Cuba falls behind again, according to a copy of the accord seen by Reuters. It calculates Cuba's total debt to Paris Club members at $11.1 billion, which is...

  • NEW YORK/ HOUSTON, Dec 14- Law firms and banks are adding staff to their restructuring practices from Houston to New York City to scoop up new business as oil prices sink near 11- year lows, pressuring energy companies to slash debt or file for bankruptcy. Another three law firms have re-jigged staff for the new work, and other restructuring advisors have partnered...

  • *Sees 2016 adjusted EPS $6.30- $6.60, revenue $56- $58 bln. Dec 10- United Technologies Corp raised the lower end of its full-year adjusted earnings forecast and announced a $1.5 billion restructuring plan aimed at reducing costs, mainly through factory consolidation. United Technologies, whose shares rose 1.4 percent in extended trading, makes Otis elevators,...

  • Dec 10- United Technologies Corp raised the lower end of its full-year adjusted earnings forecast and announced a $1.5 billion restructuring plan aimed at reducing costs, sending its shares up 1.2 percent in extended trading. The restructuring plan is expected to result in annualized savings of $900 million by focusing on cost reductions in high-cost...

  • Dec 10- United Technologies Corp raised the lower end of its full-year adjusted earnings forecast and announced a $1.5 billion restructuring plan aimed at reducing costs.

  • MOSCOW, Dec 10- Indebted Russian miner Mechel said on Thursday it had called an extraordinary general meeting for March 4 when it expected shareholders would be able to vote on debt restructuring deals with its banks. However Sberbank, one of Mechel's key creditors, said in a statement it was still discussing debt restructuring with Mechel and was yet to reach a...

  • Puerto Rico, wrestling with $72 billion of debt and a faltering economy, defaulted on part of its debt in August and is trying to restructure its borrowings. Democrats in Congress have pushed for Puerto Rico to be allowed access to U.S. bankruptcy laws to solve its fiscal crisis, however, Republicans have been skeptical and have argued for oversight.

  • Democrats said on Tuesday they are making a push to help Puerto Rico reorganize its hefty debt load as part of a large spending bill now being negotiated in Congress. An existing bill to extend bankruptcy protections to Puerto Rico has made little headway in Congress so far; neither has a proposal to improve the island's federal healthcare funding.

  • WASHINGTON, Dec 8- The International Monetary Fund will change its lending rules to allow it to keep supporting countries if they fail to repay official creditors, a change that would help Ukraine if it misses payments on a $3 billion debt to Russia. Russia refused to allow the Eurobond, which matures on Dec. 20, to be included in Ukraine's recent debt restructuring,...

  • HAVANA, Dec 7- Cuba is near a deal with 15 rich creditor nations of the Paris Club to restructure $16 billion in debt stemming from a 1986 default, with creditors expected to forgive most of the amount owed, diplomats close to the talks said. Cuba has secured investment agreements from creditors in previous debt negotiations and is seeking similar commitments...

  • NEW YORK, Dec 4- The U.S. Supreme Court on Friday agreed to hear Puerto Rico's bid to reinstate a law that would allow restructuring of the U.S. territory's public agencies as the Caribbean island grapples with its huge debt load. DAVID TAWIL, PRESIDENT, MAGLAN CAPITAL, NEW YORK. "I think that Congress is not about to do anything.

  • WASHINGTON, Dec 4- The U.S. Supreme Court on Friday agreed to hear Puerto Rico's bid to reinstate a law that would allow restructuring of the U.S. territory's public agencies as the island grapples with its huge debt load. Puerto Rico passed the law to give certain public corporations, with around $20 billion in debt, the ability to restructure financially in an...

  • WASHINGTON, Dec 4- The U.S. Supreme Court on Friday agreed to hear Puerto Rico's bid to reinstate a law that would allow restructuring of the U.S. territory's public agencies as the island grapples with its huge debt load. The high court will decide whether the 2014 law, known as the Recovery Act, conflicts with U.S. federal bankruptcy law. The court also took up a...

  • Starboard pushed Yahoo to sell core business, again Friday, 4 Dec 2015 | 6:00 AM ET
    Starboard pushed Yahoo to sell core business, again

    The activist investor renewed its call for Yahoo to abandon plans to spin off its stake in Alibaba.

  • WILMINGTON, Del., Dec 3- A U.S. judge said on Thursday he would approve Energy Future Holdings Corp's plan of reorganization, clearing a major hurdle toward ending the contentious bankruptcy for Texas's biggest power company. Bankruptcy Judge Christopher Sontchi spent nearly two hours reading a pair of rulings that confirm the plan, the product of more than 18...

  • SAN JUAN, Dec 1- Puerto Rico's power authority, PREPA, reached a tentative debt restructuring deal with bond insurers, two sources familiar with the matter said on Tuesday, but two Puerto Rican government sources said later there was no agreement. But on Tuesday night, a source close to PREPA and another close to Puerto Rico's Government Development Bank, both with...

  • WILMINGTON, Del, Dec 1- When Samson Resources Corp filed this year's biggest energy-related bankruptcy in September, the oil and gas company said it had a deal to emerge from Chapter 11 protection by year-end. In the past 16 months, the price of oil has sunk to around $40 per barrel from about $100, ending years of elevated crude prices that fueled oil companies'...

  • *Ukraine, Venezuela, Argentina 2015 top global performers. LONDON, Nov 30- Labelled the emerging market "toxic trio" until not so long ago, the high-yielding bonds of Ukraine, Argentina and Venezuela have come up smelling of roses for those who were brave enough to buy into them at the start of the year. Ukraine's debt restructuring, pro-business Maurico Macri's...

  • NEW YORK, Nov 22- U.S. private equity firm Patriarch Partners LLC said on Sunday it has filed for Chapter 11 bankruptcy protection for Zohar I to protect the debt fund against efforts by MBIA Inc and MBIA Insurance Corp to obtain its assets. MBIA is another Zohar I creditor, Patriarch said. Patriarch is seeking court approval for a reorganization plan that will...

  • NEW YORK, Nov 22- U.S. private equity firm Patriarch Partners LLC said on Sunday it has filed for Chapter 11 bankruptcy protection for Zohar I to protect against efforts by MBIA Inc and MBIA Insurance Corp to obtain its assets. "We believe the Chapter 11 process now presents the best way for Zohar I to restructure its finances while preserving the value of the...