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Restructurings

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  • NEW YORK, March 18- Bankrupt wireless venture LightSquared has filed a new restructuring plan that would pay the full $1.5 billion claim of its largest creditor, Dish Network Corp Chairman Charles Ergen, in cash, with interest. The plan, filed late on Tuesday and outlined on Wednesday morning in court papers in U.S. Bankruptcy Court in Manhattan, depends on $1.515...

  • March 18- Casino company Caesars Entertainment Corp, whose operating unit is in bankruptcy, warned on Monday that the litigation stemming from its restructuring efforts could hamper its ability to continue operating as a going concern. Creditors have brought numerous lawsuits alleging fraud over transfers of assets out of the operating unit, Caesars...

  • Here's why CK Hutchison Holdings is a buy   Tuesday, 17 Mar 2015 | 9:06 PM ET
    Here's why CK Hutchison Holdings is a buy

    Alex Wong, director of Asset Management at Ample Capital, says the restructuring makes CK Hutchison the only blue-chip in Hong Kong markets that investors can use as a proxy to invest in Europe.

  • NEW YORK, March 17- Cerberus Capital Management and Solus Alternative Asset Management on Tuesday proposed a new plan to restructure bankrupt wireless venture LightSquared, with the support of billionaire Charles Ergen, LightSquared's largest lender. The plan is designed to compete with a LightSquared-backed one whose fairness is the subject of an...

  • China to launch deposit insurance: Good or bad?   Sunday, 15 Mar 2015 | 11:14 PM ET
    China to launch deposit insurance: Good or bad?

    David Kuo, CEO of the Motley Fool Singapore, explains why he likes the launch of a nationwide deposit insurance scheme in China.

  • Time to look to Hong Kong markets?   Sunday, 15 Mar 2015 | 6:52 PM ET
    Time to look to Hong Kong markets?

    Kingsley Jones, founder and CIO at Jevons Global, explains why Hong Kong shares are looking better these days and outlines why India is a standout performer among emerging markets.

  • UPDATE 1-Greece, OECD, sign cooperation deal on reform Thursday, 12 Mar 2015 | 1:52 PM ET

    PARIS, March 12- Greece is turning to the OECD group of industrialised nations to help reform its economy, but Prime Minister Alexis Tsipras says his country will still have to restructure its debt to overcome its woes. Greece signed an agreement with the Organisation for Economic Co-operation and Development on Thursday aimed at helping Athens carry out a...

  • BEIJING, March 12- China's central bank governor on Thursday signalled that Beijing is comfortable with the current macroeconomic environment and plans to stick with its "prudent" monetary policy. Both are seen as key reforms needed for the wider restructuring of China's economy and a move away from miscalculated and mispriced investment.

  • LONDON, March 11- Ukraine, seeking to plug a $15 billion- plus funding gap via debt restructuring, may find that a multi-year payment moratorium does the trick, with investors possibly having to swallow a smaller eventual writedown than feared. The country has received the nod from the International Monetary Fund for a $17.5 billion loan package, and the fund...

  • LONDON, March 11- Ukraine, seeking to plug a $15 billion- plus funding gap via debt restructuring, may find that a multi-year payment moratorium does the trick, with investors possibly having to swallow a smaller eventual writedown than feared. The country is expected to get the nod from the International Monetary Fund later on Wednesday for a $17.5 billion loan...

  • HONG KONG, March 11- Some of developer Kaisa Group's bondholders are pushing for better debt restructuring terms, such as a guarantee for their bonds from Sunac China which has proposed a takeover of its rival, sources familiar with the matter said. This week, Kaisa unveiled a plan for $2.5 billion of its offshore and convertible debt, under which the maturity on...

  • Loretta Moseman and Joe Bonocore will serve as interim co-heads for Citi's treasury as the company conducts a search for a successor, Citigroup CFO John Gerspach said in an internal memo seen by Reuters. Aboaf has been a key figure in financing Citi and is familiar to institutional investors who buy Citi's debt. Aboaf restructured Citi's balance sheet to...

  • HONG KONG, March 9- A debt restructuring plan put forward by Chinese developer Kaisa Group Ltd has steered away from a doomsday scenario for creditors painted in an earlier report, offering an implied haircut that is severe but not too far off current market prices. Mired in crisis after the local government in its home base of Shenzhen blocked sales at some of its...

  • HONG KONG, March 9- Chinese property developer Kaisa Group Ltd has proposed cutting the interest and extending the maturities of its offshore bonds in a critical debt restructuring plan it needs to get creditors to agree to or risk defaulting on payments. Kaisa, mired in crisis after the local government in its home base of Shenzhen blocked sales at some of its...

  • NEW YORK, March 6- LightSquared gained momentum this week in its effort to end its three-year bankruptcy after a judge dealt a blow to its main creditor and adversary, Charles Ergen, ahead of a week-long trial on its latest debt restructuring plan. LightSquared, the would-be wireless provider owned by Phil Falcone's Harbinger Capital Partners hedge fund, on...

  • Oil and gas contractor Cal Dive files for bankruptcy Tuesday, 3 Mar 2015 | 6:28 PM ET

    March 3- Offshore oil and gas contractor Cal Dive International Inc said the company and its U.S. subsidiaries filed for voluntary bankruptcy protection. Cal Dive's foreign units have not sought bankruptcy protection and will continue to operate outside of any reorganization proceedings, the company said on Tuesday. Cal Dive has been hurt by the slump in...

  • March 3- The operating unit of casino company Caesars Entertainment Corp unveiled its plan to cut $10 billion of debt and to exit Chapter 11 in a late Monday filing with a U.S. Bankruptcy Court. Bankruptcy Judge Benjamin Goldgar in Chicago and creditors, a process that can easily take a year. The plan was filed on Monday when the parent company Caesars...

  • Caesars' operating unit files bankruptcy exit plan Tuesday, 3 Mar 2015 | 12:20 PM ET

    March 3- The operating unit of casino company Caesars Entertainment Corp unveiled its plan to cut $10 billion of debt and to exit Chapter 11 in a late Monday filing with a U.S. Bankruptcy Court. Bankruptcy Judge Benjamin Goldgar in Chicago and creditors, a process that can easily take a year or more. The plan was filed on Monday when the parent company Caesars...

  • BEIJING, March 2- China's slowing economy will be at the forefront as parliament convenes for its annual meeting this week, with a weekend interest rate cut a reminder of the challenge of balancing painful restructuring with combating the onset of deflation. Senior leaders at the National People's Congress, which opens on Thursday, will send an unambiguous...

  • SINGAPORE, March 2- Malaysia Airlines is re-negotiating contracts, reviewing its fleet and routes, and identifying almost a third of staff to lay off as part of a state-led restructuring programme, owner Khazanah Nasional Bhd said on Monday. The sovereign wealth fund's update on Malaysian Airline System Bhd is the first since it took the carrier private in...