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Business Events Restructurings

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  • SAN JUAN/ NEW YORK, Aug 24- Potential buyers of bonds being sold by Puerto Rico's water authority, PRASA, want stronger protections in the event the agency becomes insolvent, people close to the matter said, as the island's government tries to assure investors it does not need restructuring. PRASA's $750 million bond sale, initially slated to price last week, has...

  • WEST HARTFORD, Conn.— Connecticut- based firearms maker Colt Holding Co. is asking a bankruptcy judge to approve payments totaling $2.5 million for nine top executives. The Hartford Courant reports the bonuses would be paid if an executive is fired, resigns because of reduced pay under future owners or moves. The West Hartford- based company is trying to...

  • NEW YORK, Aug 21- Puerto Rico on Friday asked the U.S. Supreme Court to overturn a ruling that blocks the restructuring of the commonwealth's public agencies. In a petition seeking the court's review, which was provided by one of the island's lawyers, Puerto Rico said a lower court erred in concluding that U.S. bankruptcy law blocks the restructuring of the...

  • NEW YORK, Aug 21- Puerto Rico on Friday asked the U.S. Supreme Court to overturn a ruling that blocks the restructuring of the commonwealth's public agencies. In a petition seeking the court's review, which was provided by one of the island's lawyers, Puerto Rico said the lower court erred in concluding that U.S. bankruptcy law blocks the restructuring of the...

  • Aug 19- A federal appeals court on Wednesday refused to undo a central component of Tribune Co's bankruptcy plan in a defeat for prominent hedge fund Aurelius Capital Management LP, which claimed it was short-changed by the reorganization. By a 3-0 vote, the 3rd U.S. Circuit Court of Appeals in Philadelphia said letting Aurelius, a specialist in distressed debt,...

  • Aug 14- KKR& Co's Samson Resources Corp said on Friday it finalized a restructuring plan with key creditors that it expects to implement under a Chapter 11 bankruptcy reorganization and which will give the creditors control of the company. Samson said its second-lien lenders, including Silver Point, Cerberus and Anschutz, will put in as much as $485 million in...

  • *Kiev wants deal this week. KIEV/ LONDON, Aug 14- Restructuring talks between Ukraine and a group of its largest creditors were to continue on Friday, a source close to the process said, after no deal emerged in two days of negotiations over $19 billion of Ukraine's debt. A $40 billion international bailout package depends on Kiev plugging a $15 billion funding gap...

  • *Kiev wants deal this week. KIEV/ LONDON, Aug 14- Restructuring talks between Ukraine and a group of its largest creditors will continue on Friday, a source close to the process said, after no deal emerged in two days of negotiations over $19 billion of the country's debt. A $40 billion international bailout package depends on Kiev plugging a $15 billion funding gap...

  • SAN FRANCISCO, Aug 12- Ukraine and a group of its largest creditors on Wednesday failed to reach a deal to restructure the country's $19 billion of debt but will resume negotiations on Thursday, a source close to the talks said. The two sides are meeting in San Francisco as part of talks that have dragged on for five months. Ukraine must pay a $60- million coupon on Aug....

  • KIEV/ LONDON Aug 12- Ukraine and a group of its largest creditors will meet on Wednesday for make-or-break talks that look highly unlikely to deliver an amicable deal to restructure $19 billion of debt. Without a last-minute compromise, that appears to be the likeliest outcome of the meeting in San Francisco, putting Ukraine on course for a "hard" default.

  • KIEV, Aug 7- Ukraine's debt restructuring negotiations may head into their final phase next week after Kiev said it would meet its biggest group of creditors on Wednesday, again warning that the talks would be the last chance for a deal. "Given the legal and timing constraints of reaching and implementing any settlement... failure to reach an agreement at the...

  • Have Singapore's GLCs reached a turning point? Thursday, 6 Aug 2015 | 6:40 PM ET
    Have Singapore's GLCs reached a turning point?

    Hozefa Topiwalla, head of ASEAN research and ASEAN equity strategist at Morgan Stanley, says factors such as restructuring will be key in ensuring the role of government-linked companies in the Singapore economy.

  • WASHINGTON, Aug 5- The United States on Wednesday raised pressure on Ukraine's creditors to strike a deal to restructure the government's debts, with a top U.S. official saying Ukraine's debt burden is "unsustainable".

  • Aug 3- Puerto Rico expects to have a long-term fiscal plan ready by the end of the month, as previously planned, Victor Suarez, the chief of staff of the commonwealth's governor, said on Monday. Puerto Rico's governor, Alejandro Garcia Padilla, stunned investors in June when he said the island's debt, totaling $72 billion, was unpayable and required restructuring.

  • Greek debt restructuring is inevitable, says IMF chief Wednesday, 29 Jul 2015 | 11:08 AM ET

    WASHINGTON, July 29- Greece's international creditors will have no choice but to accept an easing of the terms of Athens' debts, the head of the International Monetary Fund said on Wednesday. The IMF has teamed up with the European Union and the European Central Bank in recent years to lend Greece money repeatedly to save it from a debt crisis.

  • NEW YORK, July 28- New York City Mayor Bill de Blasio on Tuesday joined calls urging the U.S government to allow Puerto Rico's public entities to file for bankruptcy protection. A bill was introduced last year by Puerto Rico's representative in Congress Pedro Pierluisi to allow the U.S. territory to use federal bankruptcy laws to restructure the debt of its...

  • NEW YORK, July 27- Puerto Rico's Governor Alejandro Garcia Padilla left for Washington, D.C. on Monday for meetings on the island's fiscal situation and to promote access to U.S. bankruptcy laws, according to a statement from his office. Garcia Padilla shocked creditors in June by saying the island needed to restructure debts- totaling $72 billion- to solve its...

  • *Ukraine seeking savings of $15.3 billion. KIEV, July 27- Heavily indebted Ukraine has made new proposals to its creditors for restructuring $23 billion of foreign debt and is now awaiting their response, Finance Minister Natalia Yaresko said on Monday. Ukraine, whose economic plight is exacerbated by a draining conflict with Russian-backed separatists in...

  • KIEV, July 27- Ukraine has made new proposals to its creditors for restructuring $23 billion of foreign debt and is now awaiting response, Finance Minister Natalia Yaresko said on Monday. Negotiations to restructure Ukraine's foreign debt have dragged on for over four months because of disagreement over the need for a writedown on the principal of the bonds as...

  • BANGKOK, July 26- Thai Airways International Pcl plans to cut 1,401 jobs through voluntary retirement this year and suspend its loss-making flights to Los Angeles and Rome as it pushes ahead with a restructuring plan, its president said on Sunday. Thai Airways aims to cut operating costs by up to 9 billion baht this year, Charumporn said. From Oct. 25, the carrier...