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Restructurings

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  • MUNICH, May 30- The chief executive of German conglomerate Siemens said up to 11,600 jobs could be at risk in a restructuring plan he unveiled earlier this month that aims to save the company 1 billion euros annually. Previously Siemens had been structured along sectoral and regional lines.

  • *Abu Dhabi's Etihad owns 24 percent stake. NEW DELHI, May 27- Jet Airways Ltd laid out a three-year restructuring plan on Tuesday vowing to take tough measures to return India's No. 2 airline by market share to profit after posting its worst ever loss.

  • BUENOS AIRES, May 27- Argentina's government stressed on Tuesday that it will continue to service restructured debt regardless of the outcome of its legal fight with bondholders who refused to accept its debt-restructuring offers. The nine justices are set to consider whether to hear Argentina's appeal on June 12.

  • WASHINGTON, May 21- Two former members of the U.S. auto task force that helped restructure General Motors Co in 2009 during its bankruptcy said they were not aware at the time of the defective ignition switches linked to at least 13 deaths.

  • WASHINGTON, May 21- A former member of the U.S. auto task force that helped restructure General Motors Co in 2009 during its bankruptcy said he had no idea about the defective ignition switches linked to at least 13 deaths.

  • SEOUL, May 19- South Korean steelmaker POSCO said on Monday it may consider selling a stake in its profitable trading and resources arm Daewoo International Corp as part of a restructuring plan aimed at shoring up its finances.

  • DETROIT, May 13- Detroit's three automakers are mulling a request by the city's art museum to help it raise money for a key component of Detroit's plan to restructure its debt and exit bankruptcy, representatives of the companies said on Tuesday.

  • Automakers mull aid to art museum in Detroit bankruptcy Tuesday, 13 May 2014 | 11:00 AM ET

    DETROIT, May 13- Detroit's three automakers are mulling a request by the city's art museum to help it raise money for a key component of Detroit's plan to restructure its debt and exit bankruptcy, representatives of the companies said on Tuesday.

  • BEIJING, May 10- China should reorganize its wealth management industry as it is unduly raising funding costs and encouraging savers to behave like gamblers by chasing after lucrative short-term returns, a deputy governor of China's central bank said on Saturday.

  • NEW YORK May 8- A U.S. bankruptcy judge ordered LightSquared and its chief creditor, satellite owner Charles Ergen, to discuss a settlement after she refused to approve the wireless provider's plan to exit its two-year bankruptcy.

  • MILAN, April 30- Etihad Airways has signalled that it is ready to continue talks on a potential investment in Italy's troubled Alitalia but it refuses to budge on tough conditions on debt restructuring and job cuts, a source close to the talks said on Wednesday.

  • SAN FRANCISCO, April 23- Zynga Inc co-founder Mark Pincus is relinquishing the last of his operational duties at the social gaming company starting on Wednesday and retreating to an advisory role as Chief Executive Officer Don Mattrick pushes through a restructuring plan.

  • UPDATE 1-Zynga's Pincus withdraws further from operations Wednesday, 23 Apr 2014 | 4:49 PM ET

    SAN FRANCISCO, April 23- Zynga Inc co-founder Mark Pincus is relinquishing the last of his operational duties at the social gaming company starting on Wednesday, taking on an advisory role as Chief Executive Officer Don Mattrick pushes through a restructuring plan.

  • Zynga's Pincus withdraws further from operations Wednesday, 23 Apr 2014 | 4:10 PM ET

    SAN FRANCISCO, April 23- Zynga Inc co-founder Mark Pincus will relinquish the last of his operational duties at the social gaming company starting Wednesday, taking on an advisory role as Chief Executive Don Mattrick pushes through a restructuring plan.

  • April 22- The federal judge overseeing Detroit's historic bankruptcy case tapped a top restructuring official at Phoenix Management Services on Tuesday to help the court determine if the city's plan to adjust its $18 billion of debt is feasible.

  • April 22- General Motors Co filed a motion in a U.S. bankruptcy court to enforce a bar on lawsuits related to ignition defects in cars sold before its 2009 bankruptcy as it fights a class action lawsuit that seeks to set aside the restriction.

  • Genco said on Monday Baltic Trading Ltd, a company formed by Genco, and its units are not included in the restructuring program. Genco listed total assets of about $2.46 billion and liabilities of $1.46 billion, as of Feb. 28, according to its bankruptcy petition.

  • Momentive Performance Materials files for bankruptcy Sunday, 13 Apr 2014 | 11:07 PM ET

    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.

  • DETROIT, April 11- Detroit's plan to get out of bankruptcy cleared a major hurdle on Friday when a U.S. Bankruptcy Court judge approved the cash-strapped city's third attempt at settling costly interest-rate swap agreements with two investment banks.

  • Puerto Rico hires third U.S. restructuring firm Thursday, 10 Apr 2014 | 12:26 PM ET

    The bank has hired West Palm Beach, Florida- based FTI Consulting, a global advisory firm that includes restructuring and turnaround experts.