In latest round of change in pharmaceuticals industry, Novartis inks deals with GSK and Lilly Valeant, Ackman looking to buy Botox maker Allergan in cash-and-stock deal worth about $45.6 B Stock market pushed higher by corporate deal news and solid earnings; Allergan, Netflix jump Labor Department: Job market improved for 2013 college grads but remained weak McDonald's 1st- quarter profit slips as sales remain weak; April' modestly positive' Cable TV provider Comcast posts 30 percent rise in 1st quarter profit, cites NBC results General Motors asks bankruptcy court for protection from ignition claims before bankruptcy GM adding safety investigators, restructuring engineering organization in response to recall Electronic cigarette biz awaits federal rules that will likely curb marketing, set standards Harley-Davidson 1 Q earnings jump 18.7 percent as motorcycle sales rise, efficiencies take hold» Read More
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.
NEW YORK— Drybulk shipper Genco Shipping filed for Chapter 11 bankruptcy protection on Monday as it tries to reorganize its business and reduce debt. The New York company says it has about $1.3 billion in debt.
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.
DETROIT— Detroit can move ahead with a plan to settle a ruinous multimillion-dollar debt with two banks for $85 million, a judge said Friday as he also urged the bankrupt city and other creditors to reach more deals. Bankruptcy Judge Steven Rhodes signed off on the agreement to pay UBS and Bank of America.
BILLINGS, Mont.— A federal judge has awarded fees and costs to a former bankruptcy trustee and his lawyers who oversaw attempts to reorganize a Montana power cooperative. Bankruptcy Judge Ralph Kirscher said in a recent order that the fees sought by ex-trustee and Livingston attorney Lee Freeman were reasonable.
The bank has hired West Palm Beach, Florida- based FTI Consulting, a global advisory firm that includes restructuring and turnaround experts.
JOHANNESBURG/ LONDON, April 8- As a strike by South African platinum miners enters its eleventh week, the likelihood that employers will bow to demands for better pay is receding and a drastic overhaul of the loss-making industry is looking more inevitable.
RAMALLAH, West Bank, April 8- The Palestinian Authority said on Tuesday it plans to issue bonds to banks as part of a restructuring of its sizeable debts, in what will be the first sale of government bonds in the territory's 20- year history. Jihad Al Wazir, head of the Palestinian Monetary Authority, said around $200 million of debt would be converted to bonds.
April 7- James River Coal Co filed for Chapter 11 bankruptcy protection on Monday after struggling with weak prices. The company said it would continue to evaluate potential alternatives such as a capital investment through a plan of reorganization or a sale of one or more parts.
HONG KONG, April 4- A creditor sought bankruptcy restructuring for Chaori Solar, the firm that caused ripples in world markets last month with China's first domestic bond default, and the company said on Friday it had not yet agreed any deal to stay solvent.
April 2- A U.S. bankruptcy judge on Wednesday approved Detroit's plan to borrow $120 million from Barclays PLC to improve services in the cash-strapped city. Judge Steven Rhodes, who is overseeing Detroit's historic bankruptcy case, overruled objections by city creditors who took issue with the timing and structure of the loan.
ROME/ ABU DHABI, April 2- Etihad Airways has finished examining Alitalia's books and will soon present a plan to revamp the loss-making Italian airline that is likely to include demands for job cuts and debt restructuring, several sources familiar with the matter said.
April 2- A plan being discussed to reorganize power company Energy Future Holdings Corp will all but wipe out the investments of owners KKR& Co, TPG Capital and Goldman Sachs Capital Partners, Bloomberg reported.
April 2- A plan being discussed to reorganize Energy Future Holdings Corp will all but wipe out owners KKR& Co, TPG Capital and Goldman Sachs Capital Partners, Bloomberg reported, citing three people with direct knowledge of the negotiations.
NEW YORK, March 31- Investor Phil Falcone, whose Harbinger Capital Partners owns bankrupt wireless company LightSquared, on Monday said he always intended to cut the debt claims of LightSquared's largest creditor, Dish Network Corp Chairman Charlie Ergen.
March 26- Texas power generator Energy Future Holdings Corp is in last-minute talks with creditors to reach a debt-restructuring deal and may consider delaying the filing of its annual report, two sources told Reuters. EFH, formerly TXU Corp, was the largest generator in Texas before a $45 billion buyout in 2007..
March 26- Texas power generator Energy Future Holdings Corp is making a last ditch effort to reach a debt-restructuring deal with creditors before it seeks bankruptcy protection, the Wall Street Journal said, quoting sources familiar with the matter. EFH, formerly TXU Corp, was the largest generator in Texas, before a $45 billion buyout in 2007..
Oleo e Gas, formerly known as OGX, filed Latin America's largest ever bankruptcy on Oct. 30. OSX gets nearly all of its revenue from Oleo e Gas and its a principal creditor of the company. Both OSX and Oleo e Gas are controlled by Brazilian businessman Eike Batista.