"Lots of businesses have had a longer runway to recover," says AlixPartners CEO Fred Crawford, in discussing corporate America's health amid "easy money."» Read More
HONG KONG, Oct 25- Hong Kong- listed solar investor Shunfeng Photovoltaic International Ltd has signed a framework restructuring agreement with the debt administrator of New York- listed Suntech Power's main China unit, two sources familiar with the matter said on Friday.
*Bankruptcy exit likely in Jan-CEO. Oct 23- Chemical maker W.R. Grace& Co said it does not expect to emerge from its 12- year bankruptcy before the end of January as it deals with court appeals against its restructuring plan. Grace shares were up 3 percent at $93.19 in afternoon trading on the New York Stock Exchange.
Bankruptcy Judge Steven Rhodes on whether Detroit is eligible to restructure its debts and liabilities under Chapter 9 of the U.S. Kevyn Orr, the city's emergency manager who has broad powers over Detroit's finances, is expected to testify on Friday, his spokesman, Bill Nowling said by a Twitter message.
SAO PAULO/ RIO DE JANEIRO, Oct 15- OGX Petróleo e Gas Participações SA ousted its chief executive as part of a restructuring plan to avert bankruptcy, a source said on Tuesday, the same day shares of the ailing Brazilian oil producer posted their biggest jump ever on hopes that founder Eike Batista might cede control of the company.
DETROIT, Oct 15- Lawyers representing Detroit unions, retirees and creditors tussled with city attorneys on Tuesday in bankruptcy court, seeking to derail the city's claim of bankruptcy with an assertion that Michigan's constitution protects retiree pension benefits from being slashed.
RIO DE JANEIRO, Oct 15- OGX Petróleo e Gas Participações SA fired Chief Executive Luiz Carneiro as part of a corporate restructuring plan, a source with direct knowledge of the situation told Reuters on Tuesday.
DETROIT, Oct 10- Electric car battery maker A123 Systems LLC named a new chief executive and outlined its structure as it moves forward after being purchased in bankruptcy by a Chinese company.
HONG KONG, Oct 10- A closely watched restructuring of Suntech Power Holdings Co Ltd's Chinese debt is likely to move forward after Shunfeng Photovoltaic International Ltd was named the preferred bidder for Suntech's main unit.
NEW YORK, Oct 9- Creditors of bankrupt broadband owner LightSquared Inc can vote on competing plans by LightSquared, its creditors and its primary shareholder, Harbinger Capital, on how to restructure the company, a judge ruled on Wednesday.
*Citi planning to sell loan exposure at discount- source. ABU DHABI, Oct 9- Citigroup Inc and International Bank of Qatar are holding up negotiations to restructure $4.5 billion in debt of Abu Dhabi conglomerate Al Jaber Group, further complicating drawn-out talks, three sources familiar with the matter said.
*Vallejo struggling to pay pension costs. Vallejo's plight, so soon after bankruptcy, is an object lesson for three U.S. cities going through that process today- Detroit, Stockton and San Bernardino, California- because it shows the importance of dealing with pension obligations as part of a financial restructuring, experts say.
*Monte dei Paschi investors wait to see how they will fare. LONDON, Sept 29- Investors awaiting the finer points of Monte dei Paschi's restructuring plan could soon find themselves wishing their bank had run aground at another time and place in the eurozone financial crisis.
*Glencore has deal to keep buying crude for 20 years. SOCHI/ LONDON, Russia, Sept 27- Commodities trader and mining giant Glencore Xstrata could become a shareholder in Russian oil firm Russneft as part of a debt restructuring, Russneft's owner said on Friday.
MILAN, Sept 20- Monte dei Paschi di Siena, Italy's third biggest lender, will approve a restructuring plan on Tuesday that could force its nationalisation unless it can find private investors willing to bet on a bank hit by scandal and bad debts.
DETROIT, Sept 19- Detroit residents, city retirees and even two city council members stood Thursday where dozens of bankruptcy lawyers have gone before them: before Bankruptcy Judge Steven Rhodes, arguing why their city does not belong in bankruptcy court.
NEW YORK, Sept 12- AMR Corp's bid to emerge from bankruptcy won approval from a U.S. bankruptcy judge on Thursday, but implementation still requires resolution of U.S. government moves to block its proposed merger with US Airways Group Inc..
NEW YORK, Sept 12- A U.S. bankruptcy judge on Thursday approved AMR Corp's plan to exit bankruptcy, subject to resolution of a U.S. government lawsuit to block a proposed merger with US Airways Group Inc.. Judge Sean Lane approved the plan at a hearing in the U.S. Bankruptcy Court in New York.
BUENOS AIRES, Sept 11- Argentina's Congress approved a debt swap on Wednesday offering an unlimited time window for the remaining 7 percent of investors to restructure bonds left over from the country's 2002 default.
Li also said in a speech to government leaders and company executives at the World Economic Forum in the northeastern port city of Dalian that China will keep its monetary policy stable even if capital markets show volatility. "China is at a critical stage of restructuring and updating its economy.
Sept 6- Patriot Coal Corp on Friday filed a restructuring plan that would pay back secured creditors and wipe out shareholders, four weeks after reaching new, cost-saving labor contracts with unionized workers.