NEW YORK, July 23- A hedge fund with over $400 million in Puerto Rico bonds has joined a legal challenge against a law that allows the U.S. New York- based BlueMountain Capital Management filed a lawsuit in the district court of Puerto Rico on Tuesday, claiming that the new law, known as the Recovery Act, runs counter to both the Puerto Rican and U.S. constitutions.» Read More
NEW YORK, July 22- A U.S. judge overseeing Argentina's debt restructuring case on Tuesday ordered negotiators for the country and holdout investors to meet with a court-appointed mediator until a settlement is reached, as time runs short before a potential default. Argentina has been pushed to the brink of a fresh debt default by U.S. court decisions.
Crocs Inc. also detailed a restructuring plan that includes cutting 183 jobs, closing or converting about 75 to 100 stores globally and streamlining its product portfolio. The Niwot, Colorado, company anticipates the job cuts will result in $4 million in cost savings this year and $10 million in savings in 2015..
US home sales increase 2.6 percent in June to 5.04 million, fastest pace in 8 months US stocks climb in early trading as earnings reports roll in; Chipotle jumps 12 percent Detroit retirees endorse pension cuts in bankruptcy; city praises' positive decision' US consumer prices up 0.3 percent in June, reflecting biggest jump in gasoline in 12 months Coke sales miss Wall Street expectations as Diet Coke remains soft McDonald's profit slips as US sales continue to suffer China suspect meat scandal engulfs Starbucks and Burger King, spreads to McDonald's in Japan Comcast 2nd- quarter earnings top Wall Street as Internet hookup pace accelerates Crocs climbs on 2nd- quarter results; company announces restructuring plans Verizon 2 Q profit increases 93 percent thanks to Vodafone deal, tops forecast
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.
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.