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Restructurings

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  • Argentina debtholders offer to waive clause -FT Monday, 28 Jul 2014 | 4:30 PM ET

    July 28- A group of Argentina's creditors holding "restructured" debt have offered to waive a clause that would help the country avoid a default, the Financial Times reported on Monday, citing unnamed sources.

  • NEW YORK, July 25- Argentina, out of legal options to avoid paying a court-awarded $1.33 billion plus interest to holdout creditors who twice spurned a restructuring offer, has until July 30 to either pay them, negotiate a settlement or default.

  • Bankrupt Energy Future to auction stake in Oncor Thursday, 24 Jul 2014 | 5:02 PM ET

    DALLAS— Bankrupt power giant Energy Future Holdings terminated its restructuring agreement and announced plans to auction its stake in the profitable power transmission business Oncor Electric Delivery Co., according to a filing Thursday with the U.S. Securities and Exchange Commission.

  • NEW YORK, July 23- A hedge fund with over $400 million in Puerto Rico bonds has joined a legal challenge against a law that allows the U.S. New York- based BlueMountain Capital Management filed a lawsuit in the district court of Puerto Rico on Tuesday, claiming that the new law, known as the Recovery Act, runs counter to both the Puerto Rican and U.S. constitutions.

  • NEW YORK, July 23- A hedge fund with over $400 million in Puerto Rico bonds has joined a legal challenge against a law that allows the U.S. New York- based BlueMountain Capital Management filed a lawsuit in the district court of Puerto Rico on Tuesday, claiming that the new law, known as the Recovery Act, runs counter to both the Puerto Rican and U.S. constitutions.

  • US hedge fund files suit against Puerto Rico gov Wednesday, 23 Jul 2014 | 9:34 AM ET

    SAN JUAN, Puerto Rico— The government of Puerto Rico is now facing a second lawsuit in response to a new law that would allow certain public corporations in the U.S. territory to restructure their debt if needed. The Electric Power Authority holds some $9 billion in debt.

  • July 23- Momentum is building toward a deal that would make painful losses inevitable for investors holding about $20 billion in bonds issued by Puerto Rico's highway, water and electricity authorities even as some big U.S. mutual funds launch a legal battle to squelch a new law that authorizes a restructuring.

  • NEW YORK, July 22- A U.S. judge overseeing Argentina's debt restructuring case on Tuesday ordered negotiators for the country and holdout investors to meet with a court-appointed mediator until a settlement is reached, as time runs short before a potential default. Argentina has been pushed to the brink of a fresh debt default by U.S. court decisions.

  • Crocs rises on solid performance in 2nd quarter Tuesday, 22 Jul 2014 | 11:03 AM ET

    Crocs Inc. also detailed a restructuring plan that includes cutting 183 jobs, closing or converting about 75 to 100 stores globally and streamlining its product portfolio. The Niwot, Colorado, company anticipates the job cuts will result in $4 million in cost savings this year and $10 million in savings in 2015..

  • AP Top Extended Financial Headlines At 11:03 a.m. EDT Tuesday, 22 Jul 2014 | 11:03 AM ET

    US home sales increase 2.6 percent in June to 5.04 million, fastest pace in 8 months US stocks climb in early trading as earnings reports roll in; Chipotle jumps 12 percent Detroit retirees endorse pension cuts in bankruptcy; city praises' positive decision' US consumer prices up 0.3 percent in June, reflecting biggest jump in gasoline in 12 months Coke sales miss Wall Street expectations as Diet Coke remains soft McDonald's profit slips as US sales continue to suffer China suspect meat scandal engulfs Starbucks and Burger King, spreads to McDonald's in Japan Comcast 2nd- quarter earnings top Wall Street as Internet hookup pace accelerates Crocs climbs on 2nd- quarter results; company announces restructuring plans Verizon 2 Q profit increases 93 percent thanks to Vodafone deal, tops forecast

  • Puerto Rico seeks dismissal of US funds' lawsuit Tuesday, 22 Jul 2014 | 10:40 AM ET

    SAN JUAN, Puerto Rico— Puerto Rico's justice secretary has asked a judge to dismiss a lawsuit filed by two U.S. investment funds seeking to undo a new law that would allow some of the island's public corporations to restructure their debt. Cesar Miranda says the law does not interfere with federal bankruptcy laws, as the suit claims.

  • KUALA LUMPUR, July 22- A plan to restructure Malaysian Airlines could be announced as early as the end of August, two sources with knowledge of the matter said, after one of its planes crashed in Ukraine in the second disaster to hit the carrier this year.

  • NEW YORK, July 17- Puerto Rico is fully committed to honoring its debts and expects to be able to access capital markets again possibly as soon as early 2015, officials of the U.S. The law led to a raft of debt downgrades and fears Puerto Rico may embark on full-scale restructuring of its more than $70 billion debt.

  • DUBAI, July 3- Dubai World, one of the emirate's big state-owned conglomerates, has made a second early repayment worth around $300 million under its $25 billion debt restructuring plan, sources familiar with the matter said on Thursday.

  • BUENOS AIRES, July 2- Argentina will press a U.S. judge to unfreeze a coupon payment to holders of the country's restructured debt as a condition for negotiating with' holdout' creditors suing for full repayment, a government official said on Wednesday.

  • BUENOS AIRES, July 2- Argentina will press a U.S. judge to unfreeze a coupon payment to holders of the country's restructured debt as a condition of negotiating with' holdout' creditors suing for full repayment, a government official said on Wednesday.

  • *Working with CIMB Investment Bank on restructuring plan. *Deal could cost Khazanah 1.05 billion ringgit at 21 sen per share.

  • WASHINGTON, July 1- Creditors to Puerto Rico's electricity provider were given a slight respite on Tuesday when the bonds' trustee made a scheduled payment, but the U.S. municipal bond market remained worried the Puerto Rico Electric Power Authority will soon use a new bankruptcy-like process to restructure its debts.

  • WASHINGTON, July 1- Creditors to Puerto Rico's troubled electricity provider were given a slight respite on Tuesday when the bonds' trustee made a scheduled payment, but the U.S. municipal bond market remained worried the Puerto Rico Electric Power Authority will soon use a new bankruptcy-like process to restructure its debts.

  • NEW YORK, July 1- Bankrupt wireless venture LightSquared on Tuesday revealed a new restructuring proposal that would cede 74 percent of its equity to a new investor group that includes JPMorgan Chase& Co, Cerberus Capital Management and Fortress Investment Group.