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Corporate Restructuring

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  • Argentina enacts law restructuring government debt Thursday, 11 Sep 2014 | 9:57 AM ET

    BUENOS AIRES, Argentina— Argentina's Congress approved legislation Thursday to restructure the country's debt and sidestep a U.S. court ruling that recently pushed the government into its second default in 13 years. "Argentina wants to pay, can pay and is going to pay all its debts to all bondholders," Fernandez said.

  • UPDATE 1-RadioShack says may file for bankruptcy Thursday, 11 Sep 2014 | 7:55 AM ET

    Sept 11- Troubled electronics retailer RadioShack Corp said it may need to file for bankruptcy if its cash situation worsens, after reporting its tenth straight quarterly loss. RadioShack, whose sales have been in a free-fall since 2010, said it was working with its lenders and landlords to restructure its debt and cut costs.

  • RadioShack warns of possible Ch. 11 bankruptcy Thursday, 11 Sep 2014 | 7:41 AM ET

    NEW YORK— RadioShack warned Thursday that it may need to file for Chapter 11 bankruptcy reorganization if it can't rework its debt or find another way to ease a cash crunch. RadioShack, which is based in Fort Worth, Texas, has been working on turning around its business for the past 18 months.

  • BUENOS AIRES, Sept 11- Argentina's Congress gave final approval on Thursday to a law proposing to restructure the country's debt to skirt a U.S. court ruling that forced it into its second default in 12 years. The debt restructuring plan aims to enable Argentina to make payments on its foreign-held bonds locally or elsewhere beyond the reaches of the U.S. court.

  • UPDATE 1-RadioShack restructuring begins to takes shape Wednesday, 10 Sep 2014 | 8:26 PM ET

    Sept 10- Troubled electronics retailer RadioShack Corp, whose shares swung wildly on Wednesday, is being advised by a restructuring attorney at law firm Jones Day as it tries to strike a deal with creditors to close stores while averting bankruptcy, two people close to the matter told Reuters.

  • Syncora had argued it had been short-changed compared to other creditors. If approved, the deal will see Syncora drop its objection to the restructuring and the trial- which is studying the feasibility of Detroit's plan to exit bankruptcy- could get a swift approval from U.S.

  • UN assembly calls for action on national debt Wednesday, 10 Sep 2014 | 8:22 AM ET

    UNITED NATIONS— The U.N. General Assembly voted overwhelmingly Tuesday in favor of a resolution that calls for adoption of a new legal framework to restructure national debts and avoid the kind of speculative action that led Argentina to a second default. General Assembly resolutions reflect world opinion but they are not legally binding.

  • Trump Entertainment gets interim operating cash Wednesday, 10 Sep 2014 | 6:16 AM ET

    WILMINGTON, Del.— A Delaware bankruptcy judge on Wednesday agreed to allow Trump Entertainment Resorts to temporarily continue operations using cash owed to billionaire Carl Icahn, the company's sole secured lender.

  • UN assembly calls for action on national debt Tuesday, 9 Sep 2014 | 11:27 PM ET

    UNITED NATIONS— The U.N. General Assembly voted overwhelmingly Tuesday in favor of a resolution that calls for adoption of a new legal framework to restructure national debts and avoid the kind of speculative action that led Argentina to a second default. General Assembly resolutions reflect world opinion but they are not legally binding.

  • NEW YORK/ WILMINGTON, DELAWARE, Sept 9- Puerto Rico's indebted power authority better get used to some tough love from its new chief restructuring officer, Lisa Donahue, who has earned a reputation for decisiveness, hard work and a cold-blooded devotion to cutting costs.

  • DUBAI, Sept 9- A steering committee of creditors of Saudi Arabian conglomerate Ahmad Hamad Algosaibi and Brothers has been formed to negotiate its debt restructuring, Algosaibi said on Tuesday.

  • Judge worried W.Va. company may abandon spill site Tuesday, 9 Sep 2014 | 11:14 AM ET

    Judge Ronald Pearson expressed the concern in an order filed Friday in U.S. Bankruptcy Court in Charleston. The order points out that Freedom Industries' plan to liquidate says the company expects to pay $850,000 or less to remediate its Charleston spill site, plus related consulting costs.

  • DETROIT, Sept 5- Detroit could not afford to undertake a series of necessary improvements without a court-approved plan to shed a chunk of its debt, a city consultant testified on Friday at a U.S. Bankruptcy Court hearing.

  • DETROIT, Sept 5- Detroit could not afford to undertake a series of necessary improvements without a court-approved plan to shed a chunk of its debt, a city consultant testified on Friday at a U.S. Bankruptcy Court hearing.

  • DETROIT, Sept 4- Revenue projections in Detroit's debt adjustment plan will be hard to achieve, but restructuring initiatives will bring in new money and help make Detroit's plan feasible, Detroit's chief financial officer said Thursday in the city's historic bankruptcy hearing.

  • Bracing for debt troubles as Ukraine gloom deepens Monday, 1 Sep 2014 | 9:49 AM ET

    LONDON/ KIEV Sept 1- Global investors' view of Ukrainian bonds as a relatively safe bet anchored by Western support is taking a battering as the country's economic gloom deepens, with many starting to brace for some form of debt restructuring.

  • Companies say goodbye to chief operating officers Wednesday, 27 Aug 2014 | 1:59 PM ET
    Ali Rowghani, former chief operating officer of Twitter Inc.

    The percentage of big companies with a COO went from roughly 48 percent in 2000 to 35 percent in 2013. USA Today reports.

  • Aug 25- Layne Christensen Co's largest shareholder said it had asked the water management company to reorganize and consider selling a division to repay debt. Layne Christensen, whose customers include miners and drillers, has been struggling with project delays, regulatory investigations and top level exits.

  • Investor asks Layne Christensen to reorganize Monday, 25 Aug 2014 | 6:58 AM ET

    Aug 25- Layne Christensen Co's largest shareholder said it had asked the water management company to reorganize and consider selling a division to repay debt. Investment manager Van Den Berg Management I Inc, which said it presented its proposals to the company on Aug. 13, said it held a 16.2 percent stake in the Woodlands, Texas- based company.

  • BUENOS AIRES, Aug 22- Argentina on Friday accused the U.S. judge who called the country's new debt restructuring plan illegal of making "imperialist" comments against the South American nation.