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Restructurings

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  • NEW YORK, Feb 9- Puerto Rico vowed on Monday to take steps to counter a court ruling striking down a local bankruptcy law that has raised fears of a messy restructuring for the indebted U.S. commonwealth. Puerto Rico's Government Development Bank, the financing arm of the U.S. commonwealth, went on the offensive early on Monday. The ruling late on Friday came as...

  • NAUSEA, Germany/ ATHENS, Feb 9- The European Union's chief executive warned Greeks on Monday not to expect the euro zone to bow to leftist Prime Minister Alexis Tsipras' demands in a growing confrontation over Athens' debt crisis. Greek Finance Minister Yanis Varoufakis, who found scant support on a tour of European capitals last week for his plans to restructure...

  • ISTANBUL, Feb 9- Greece must respect European Union rules as it seeks an alternative to an extension of an EU/IMF bailout and Europe must recognise Greek voters' ardent hopes for a change from austerity policies, French Finance Minister Michel Sapin said on Monday. Instead he wants the euro zone to give Greece' fiscal space' so that it can discuss a restructuring of...

  • Feb 8- Altegrity Inc, owner of the company that carried out background checks on former NSA contractor Edward Snowden and Navy Yard shooter Aaron Alexis, filed for Chapter 11 bankruptcy protection on Sunday as it implements a restructuring deal with its lenders. The company said some of its lenders, including funds managed by Third Avenue Management, Litespeed...

  • Greek radicals play it safe with debt advisers Lazard Thursday, 5 Feb 2015 | 2:08 PM ET

    LONDON, Feb 5- Soon after politicians from the far-left Syriza party won power in Greece they said they had hired Lazard to advise them on restructuring their debt. Lazard cemented its position as the eminence grise of debt negotiations when it secured the biggest restructuring deal in history for Athens in 2012.. Geopolitical turmoil and economic shocks keep...

  • VAROUFAKIS DEBT RESTRUCTURING PLAN DOES NOT INVOLVE PRIVATELY HELD BONDS- SOURCE.

  • *Belarus economy has been hit by economic turmoil in Russia. MINSK, Jan 29- Belarussian President Alexander Lukashenko spooked bond markets on Thursday by speaking of a possible restructuring of $4 billion of Belarussian foreign debt falling due this year, then softened his comments to refer only to refinancing. During a marathon news conference the veteran...

  • Citrix to cut about 900 jobs Wednesday, 28 Jan 2015 | 4:24 PM ET

    Jan 28- Cloud-computing software maker Citrix Systems Inc said it would cut about 700 full-time and 200 contractor jobs as part of a restructuring plan to improve operational efficiency. The company said it expects to incur pre-tax charges of $40- $45 million related severance and $9- $10 million related to the consolidation of leased facilities in the year...

  • Jan 28- The bankruptcy of the operating unit of Caesars Entertainment Corp's will proceed in Chicago, a victory for the casino company's private equity backers over its hedge fund creditors who wanted the case in Delaware. Bankruptcy Judge in Delaware sent shares of parent company Caesars Entertainment, which is controlled by Apollo Global Management and...

  • WILMINGTON, Del, Jan 27- The operating unit of Caesars Entertainment Corp will learn Wednesday whether its bankruptcy will proceed in Chicago, where the casino company filed for Chapter 11 this month, or in Delaware, a U.S. bankruptcy judge in Delaware said on Tuesday. Allowing the case to proceed in Chicago would be a victory for Caesars private equity backers,...

  • EU open to Greek debt extension, not forgiveness Monday, 26 Jan 2015 | 5:46 AM ET

    BRUSSELS, Jan 26- Europe showed a willingness on Monday to give Athens more time to pay back its debts, but little sign that it would yield to a new Greek government's demands of debt forgiveness. European Union leaders and policymakers responded to Greek anti-bailout party Syriza's election victory on Sunday with warnings that a debt restructuring for Greece...

  • BERLIN, Jan 25- Bundesbank President Jens Weidmann said Greece, where an anti-bailout party looks set to win a snap election, would continue to need aid and would only get this by sticking to agreements, adding he hoped the new government would not make promises the country could not afford. Asked about the possibility of a third haircut- or debt restructuring- for...

  • LONDON, Jan 22- Ukraine's sovereign dollar bonds slumped on Thursday after the government said it would seek talks with bondholders to "improve debt sustainability", interpreted by many as a call to restructure the debt. The comments by Finance Minister Natalia Yaresko are being seen as a call for creditors to write down some of Ukraine's debt as the country...

  • Jan 16- Wet Seal Inc filed for bankruptcy protection late on Thursday, a week after the struggling apparel retailer laid off 3,700 employees and closed 338 stores. Wet Seal, which reported slowing year-on-year sales growth for the past five quarters, warned last month that it may seek to restructure under provisions of the U.S. Wet Seal sells apparel and...

  • The next day they asked the judge assigned to the involuntary case to stay any voluntary bankruptcy until the Delaware bankruptcy judge can rule on the proper court to hear the case. Earlier on Tuesday, a Caesars attorney told a Delaware state court judge the company will seek to extend to itself the legal shield of bankruptcy protection once its operating unit...

  • DUBAI, Jan 13- The court administering Dubai World's restructuring has set March 17 as the provisional date for creditors to vote on whether to back a $14.6 billion debt deal. Under the plan, announced by Dubai World on Monday, part of its debt will be repaid early and the maturity of the rest extended by four years to 2022 with added incentives for creditors.

  • Jan 12- Hong Kong's key share index edged up on Monday, lifted by the business restructuring plan announced late on Friday by Li Ka- shing, Asia's richest man. "Li's reconstructuring boosted the share price of Hong Kong's property sector today, and I expect rise will last for a week," said Andy Wong, senior investment analyst at Harris Fraser in Hong Kong.

  • Jan 9- Caesars Entertainment Corp said on Friday it has garnered enough support from key creditors to carry out its $18.4 billion debt restructuring plan for its operating unit, which will soon file for bankruptcy. The plan will reduce the debt associated with Caesars Entertainment Operating Co Inc to $8.6 billion from $18.4 billion. Caesars has been weighed...

  • Jan 9- Caesars Entertainment Corp said on Friday it has garnered enough support from key creditors to carry out its $18.4 billion debt restructuring plan for its operating unit, which will soon file for bankruptcy. The plan will reduce the debt associated with Caesars Entertainment Operating Co Inc to $8.6 billion from $18.4 billion. Caesars has been weighed...

  • Clouds forming over US economy?  Friday, 9 Jan 2015 | 6:25 AM ET

    Michelle Girard, RBS chief U.S. economist, and Peter Boockvar, The Lindsey Group, discuss risks to the U.S. economic expansion, including oil's recession and the end of QE.