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Corporate Restructuring

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  • Judge rules against Calpers in Stockton bankruptcy Wednesday, 1 Oct 2014 | 5:53 PM ET
    A pedestrian walks by a newspaper rack displaying the headline 'Bankrupt!' last summer in Stockton, Calif.

    The U.S. bankruptcy judge overseeing Stockton, California's municipal bankruptcy trial ruled that Calpers could be forced to absorb losses.

  • SACRAMENTO, Calif., Oct 1- The judge overseeing the Stockton, California, bankruptcy on Wednesday ruled the state's huge pension system, Calpers, can be impaired as part of the city's financial restructuring. Bankruptcy Judge Christopher Klein said the city's contract with the California Public Employees' Retirement System could be rejected.

  • Sept 29- A U.S. judge held Argentina in contempt of court on Monday, saying the republic was trying to find ways to circumvent a prior order requiring it pay holdout bondholders at the same time as other creditors who restructured their debt in recent years.

  • UPDATE 1-S&P restores GM debt to investment grade Thursday, 25 Sep 2014 | 5:01 PM ET

    DETROIT, Sept 25- General Motors Co's corporate debt was raised by Standard& Poor's to investment grade, another critical step in the automaker's long recovery from its 2009 bankruptcy and reorganization.

  • S&P restores GM debt to investment grade Thursday, 25 Sep 2014 | 4:42 PM ET

    DETROIT, Sept 25- General Motors Co's corporate debt was raised by Standard& Poor's to investment grade, another critical step in the automaker's long recovery from its 2009 bankruptcy and reorganization.

  • BEIJING, Sept 23- Chinese state metals trader Sinosteel Corp is not about to undergo a restructuring as a result of mounting debt, a company official said on Tuesday, denying domestic media reports.

  • Argentina payment plan adds to creditor frustration Tuesday, 23 Sep 2014 | 4:14 PM ET

    NEW YORK, Sept 23- Argentina is expected to deliver a US $200 m coupon payment in the next week on its restructured Par bonds, but frustrated investors still have little chance of getting their hands on the money.

  • LONDON, Sept 23- Ukraine's dollar bonds suffered a sharp selloff on Tuesday, plunging to multi-month lows as investors priced in the growing probability of debt restructuring and lower recovery rates for bondholders.

  • SAN JUAN, Puerto Rico, Sept 17- Puerto Rico Electric Power Authority's new chief restructuring officer Lisa Donahue said on Wednesday that she is confident of developing a restructuring plan that will have the support of all stakeholders at the embattled government power utility.

  • UPDATE 1-Judge pauses Detroit's bankruptcy trial again Wednesday, 17 Sep 2014 | 9:14 AM ET

    Bankruptcy Judge Steven Rhodes ordered a week-long break in Detroit's bankruptcy trial on Wednesday, giving the last major objector to the city's restructuring plan time to rework its case.

  • 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.

  • 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.

  • 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.

  • 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.