April 13- Silicone and quartz producer Momentive Performance Materials Inc, owned by Apollo Global Management LLC, on Sunday filed for Chapter 11 bankruptcy protection as part of a "restructuring support agreement" with some of its creditors.» Read More
RIO DE JANEIRO, Dec 24- Brazilian tycoon Eike Batista's Oleo e Gas Participacoes SA, formerly known as OGX, said on Tuesday it reached a deal with the majority of holders of bonds worth $3.8 billion, a breakthrough that could open the door for a successful restructuring of the bankrupt oil company.
DETROIT, Dec 18- A lawyer for Detroit said in U.S. Bankruptcy Court on Wednesday that the city might still pursue litigation over its interest-rate swap agreements, even though the city has maintained that the swap counterparties are secured creditors.
DETROIT, Dec 16- Appeals of Detroit's historic bankruptcy will be allowed to bypass a federal district court and head straight to the U.S. 6th Circuit Court of Appeals, the bankruptcy judge overseeing the case ruled from the bench on Monday.
NEW YORK, Dec 12- Boeing Co said on Thursday it planned to eliminate up to 1,200 jobs in Washington state and move them to other U.S. locations as it reorganizes research and development functions. The move will reduce Boeing's reliance on unionized engineers in the Seattle area, and follows other steps Boeing has made to move jobs outside the state this year.
HONG KONG, Dec 11- China's Suntech Power Holdings Co Ltd said its restructuring manager would investigate the planned sale of its main unit to Shunfeng Photovoltaic International Ltd for legal infractions- a move sources say could delay the $495 million deal.
Nov 20- The United States rejected Fairholme Capital Management's recapitalization proposal of Fannie Mae and Freddie Mac, saying the only way to revamp the home loan market is through proper housing finance reform, according to Gene Sperling, a senior adviser to the president.
NEW YORK, Nov 20- Bankrupt mortgage lender Residential Capital LLC made no effort to put a value on the legal claims that are now an obstacle to its plan to repay creditors, the company's restructuring chief said on Wednesday.
GM believes the Colorado redux, which will debut at the Los Angeles Auto Show on Wednesday, will be far more successful than its last appearance when U.S. sales peaked in 2005 above 128,000. However, declining popularity and the company's need to save money during its 2009 bankruptcy reorganization forced it to exit the U.S. market last year.
Nov 15- Residential Capital LLC, a bankrupt mortgage lender, won a court ruling on Friday that it does not owe approximately $340 million in interest claimed by junior secured noteholders. Bankruptcy Judge Martin Glenn also criticized the legal tactics of the noteholders, who are virtually alone in opposing that plan.
*Has not got big enough offer to agree to deal- Compuware CEO. Nov 14- Compuware Corp should consider an immediate sale or a new restructuring plan, activist investor Starboard Value LP said in a letter to the business software maker on Thursday.
Nov 14- Activist investor Starboard Value LP asked business software maker Compuware Corp to consider an immediate sale or implement a new restructuring plan. Starboard, one of Compuware's largest shareholders with a stake of just under 5 percent, detailed the actions it wants the company to take in the restructuring plan.
*Mechel in talks with banks on debt restructuring. MOSCOW, Nov 14- Russia's central bank ruled on Thursday that nearly $2 billion in rouble bonds issued by mining group Mechel are effectively worthless, deepening the company's debt crisis a day after its shares slumped to an all-time low.
Nov 13- Shares of YRC Worldwide Inc lost a quarter of their value, as the trucking company struggled with the implementation of operational changes designed to help reduce its large debt.
MOSCOW, Nov 13- Russian mining group Mechel lost 40 percent of its market value in Moscow on Wednesday, hit by concerns over a proposed debt restructuring that the company called speculative.
Nov 12- Eastman Kodak Co, the once mighty photography pioneer that emerged from bankruptcy protection in September, reported a quarterly loss of $155 million after stripping off reorganization items and discontinued operations. Kodak said it adopted fresh-start accounting and provided separate figures for the month, which was a loss of $18 million.
HONG KONG, Nov 12- Creditors of the main unit of Chinese solar panel maker Suntech Power Holdings Co Ltd on Tuesday approved a plan to restructure its $1.75 billion debts with proceeds from acquirer Hong Kong- listed Shunfeng Photovoltaic International Ltd..
HONG KONG, Nov 12- Creditors of the main unit of Chinese solar panel maker Suntech Power Holdings Co Ltd on Tuesday voted in favour of a plan by Hong Kong- listed Shunfeng Photovoltaic International Ltd to acquire the subsidiary, bringing the closely watched $1.75 billion debt restructuring closer to completion.
Nov 12- Global Aviation Holdings Inc, the largest commercial provider of charter air transportation for the U.S. military, filed for bankruptcy protection early on Tuesday, just months after emerging out of its prior reorganization process.
DUBLIN, Nov 6- ING said on Wednesday it should complete its restructuring two years ahead of schedule, meaning the Dutch banking and insurance group could be one of the first euro zone casualties of the 2008 global crisis to emerge from a state rescue. KBC received 7 billion euros in 2008 and 2009, half from Belgium, the rest from the northern region of Flanders.
AMSTERDAM, Nov 6- ING said it should complete its restructuring two years ahead of schedule, meaning the Dutch banking and insurance group could be one of the first euro zone casualties of the 2008 global crisis to emerge from a state rescue.