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.» Read More
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.
SAN JUAN, Puerto Rico— U.S. investors on Thursday pressed Puerto Rico government officials about the financial health of the island's power company amid fears it might soon seek to restructure millions of dollars in debt.
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.
NEW YORK— An investor group that includes investor and reality TV star Marcus Lemonis said it plans to acquire Crumbs Bake Shop out of bankruptcy. Crumbs, which filed for Chapter 11 bankruptcy reorganization Friday in New Jersey, said it agreed to be acquired by Lemonis and Fischer Enterprises, the company behind Dippin' Dots ice cream.
DETROIT— The deadline passed Friday for thousands of creditors to vote on Detroit emergency manager Kevyn Orr's bankruptcy restructuring plan for the city. Ballots had to be received no later than 5 p.m. EDT by a consulting company in California to be counted in the largest municipal bankruptcy in U.S. history.
NEW YORK— Will cupcake chain Crumbs get new dough and rise again? The New York company said it is in talks with "various interested parties" and could restructure its business days after closing its stores.
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.
MOSCOW, July 1- Russian aluminum giant Rusal has approval for a $3.6 billion debt restructuring deal from another of its creditors German financial services provider Portigon AG, two sources familiar with decision said. The deal has yet to be approved by one creditor- Britain's part-nationalized lender Royal Bank of Scotland, one source told Reuters.
BUENOS AIRES, June 27- Argentina on Friday said U.S. By blocking a payment that Argentina has attempted to make to holders of its restructured bonds, the judge "has abused his power," a statement from the government said.
BUENOS AIRES, June 26- Argentina has deposited the next payment needed to avoid a default on its restructured bonds, but a U.S. federal court decided on Thursday not to let the payment go through.
BUENOS AIRES, June 26- Argentina has deposited the next payment that the government owes on its restructured bonds, Economy Minister Axel Kicillof said on Thursday, while a U.S. federal court decides whether to allow the payment to go through.
TOKYO, June 26- Caesars Entertainment Corp will likely agree to a debt restructuring with bondholders within a year and should have no problem financing a foray into the Japanese market, the debt-strapped casino operator's chief executive said on Thursday.
June 25- A sale of $185 million of revenue bonds on Wednesday for Detroit's public lighting authority had no problem finding buyers despite the fact the city remains in bankruptcy court.