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Corporate Restructuring

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  • CALGARY, Alberta, June 23- Pipeline company TransCanada Corp and oil and gas producer Encana Corp both said on Tuesday they were cutting jobs, joining other Canadian energy firms that have laid off staff since global oil prices slumped. TransCanada, the backer of the controversial Keystone XL pipeline project, said it cut 185 jobs following a restructuring to...

  • LONDON, June 22- A committee of Ukraine's bondholders said on Monday that a debt restructuring plan proposed by Kiev was based on IMF estimates that were not yet publicly available, adding it hoped to meet with the Fund and Ukraine's government soon. Ukraine is negotiating with foreign bondholders to restructure $23 billion of debt as part of a broader...

  • Ukraine is negotiating with foreign bondholders to restructure $23 billion worth of debt, but talks have soured over a disagreement on the necessity of a writedown on the principal of the bonds. Yaresko warned at a press conference in Kiev that Ukraine would halt debt payments if the bondholders did not agree to a "last chance" offer in further talks.

  • LONDON, June 19- Investors have not traded Greek government bonds on the HDAT electronic platform for almost a month as the country struggles to reach a vital cash-for-reform deal with its creditors, data from Greece's central bank showed on Friday. The last barren period of this length on HDAT was just before Greece's debt restructuring in March 2012.

  • NEW YORK, June 18- Creditors of Puerto Rico's struggling electric power utility PREPA have agreed to extend a creditor agreement to June 30, the utility said on Thursday, a move which allows crucial restructuring talks to continue. PREPA, with about $9 billion of debt, also has a June 30 deadline by which to reach a restructuring deal with creditors.

  • NEW YORK, June 18- Bondholders of Puerto Rico's struggling electric power utility PREPA have offered to extend a creditor agreement to the end of this month, allowing crucial restructuring talks to continue, a source familiar with the bondholders said on Thursday. PREPA, with around $9 billion of debt, has a June 30 deadline by which to reach a restructuring deal...

  • NEW YORK, June 18- Bondholders of Puerto Rico's struggling electric power utility PREPA have offered to extend a creditor agreement due to expire on Thursday, to the end of June, a source familiar with the bondholders said. Talks to restructure the utility remain underway, the source said. At least 60 percent of creditors are needed to approve an extension.

  • June 18- Rig provider Hercules Offshore Inc said it had entered into a restructuring agreement with a majority of its debtors, which would lead to a Chapter 11 filing within the next few weeks. About $1.2 billion of Hercules' notes will be converted into new equity, leaving existing shareholders with 3.1 percent of the company's stock, Hercules said in a...

  • ST PETERSBURG, Russia, June 18- Russia's second-largest bank by assets, VTB, said on Thursday that miner Mechel had agreed to the bank's terms for restructuring its debt. Mechel, controlled by businessman Igor Zyuzin, has been discussing a debt restructuring with its main lenders, including VTB, Sberbank and Gazprombank. VTB's first deputy chairman, Yuri Soloviev,...

  • June 16- Casino company Caesars Entertainment Corp was sued for more than $6 billion by a representative for noteholders who are the lone creditors backing its plan to overhaul $18 billion in debt. The lawsuit was brought by UMB Bank, which is the indenture trustee for several issuances of first-lien notes, and not by actual noteholders, which include the...

  • June 16- Casino company Caesars Entertainment Corp was sued for more than $6 billion by a representative for noteholders who are the lone creditors backing its controversial plan to overhaul $18 billion in debt. The lawsuit was brought by UMB Bank, which is the indenture trustee for several issuances of first-lien notes, and not by the actual noteholders, which...

  • An affiliate of private equity firm Sciens Capital Management has proposed buying Colt Defense by assuming obligations including up to $105 million in outstanding loans and as much as $20 million in new loans, court documents filed on Monday show. That is pretty much what bondholders proposed in May, according to the filings in the U.S. Bankruptcy Court in...

  • DUBAI, June 15- Qatar Investment Authority, one of the world's most aggressive sovereign wealth funds, will set asset allocation targets for the first time and restructure internal decision-making, sources say, in response to a drop in oil prices that has crimped available funds as competition for assets grows. The sources, who all either work in Qatar or for...

  • LONDON, June 15- Ukraine's sovereign dollar bonds fell on Monday after the IMF pledged to lend to Kiev even in the absence of a debt swap deal and hinted a creditors' debt restructuring proposal was not acceptable. Bondholders had proposed a plan which they say could save Ukraine $15.8 billion over the four-year period of its IMF-led bailout without forcing them...

  • Colt Defense files for bankruptcy protection Monday, 15 Jun 2015 | 7:21 AM ET

    Famed U.S. gun maker Colt Defense LLC said it filed for Chapter 11 bankruptcy protection.

  • Famed U.S. gun maker Colt Defense LLC said it filed for Chapter 11 bankruptcy protection.

  • Talks on ending the deadlock between Greece and its international creditors broke up in failure, with European leaders venting frustration as Athens stumbled towards a debt default that threatens its future in the euro. He said the only way Greece would be able to repay its debts was if there was a restructuring and a deal could be possible if Chancellor Angela...

  • BERLIN, June 13- Germany's finance ministry denied a report on Saturday that its officials were working on a plan to allow an orderly debt restructuring for any country that becomes insolvent. German magazine Der Spiegel had reported that Finance Minister Wolfgang Schaeuble asked officials to draft plans for a system of debt restructuring for any insolvent...

  • WASHINGTON, June 12- The head of the International Monetary Fund said on Friday that the global lender could continue to lend to Ukraine even if talks over restructuring Kiev's debt fail and the nation determines it cannot meet its obligations. "In the event that a negotiated settlement with private creditors is not reached and the country determines that it...

  • WASHINGTON, June 12- The head of the International Monetary Fund said on Friday that the global lender could continue to lend to Ukraine even if talks over restructuring Kiev's debt fail and the nation determines it cannot meet its obligations.