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Business Events Restructurings

  • The Fort Myers, Florida- based company said the bankruptcy would not impact its 179 treatment centers with locations across 17 U.S. states and Latin America. The company's lenders agreed to provide $75 million for working capital during its bankruptcy and a group of creditors agreed to invest $75 million into the reorganized business. The new investment is...

  • Bankruptcy Judge Kathy Surratt-States of St. Louis to reject a request by an official committee of creditors to hire an expert to review pre-bankruptcy transactions. Creditors have said in court filings that San Francisco private equity funds Golden Gate Capital and Blum Capital, which together hold 98.5 percent of the company and control its board,...

  • *New CEO to take the helm from July 1. OSLO, May 24- Oslo- listed rig firm Seadrill named a new chief executive from within its own ranks on Wednesday and said its talks to restructure $14 billion of debt and liabilities had reached an advanced stage. Anton Dibowitz, current chief commercial officer, will take the top job from July 1, succeeding Per Wullf who will remain a...

  • MILAN, May 23- Monte dei Paschi di Siena is close to reaching an agreement with the European Commission that will pave the way for a state bailout of Italy's fourth biggest bank, a senior Italian treasury official said on Tuesday. Together with two Veneto- based lenders, the Tuscan bank has been locked in talks for months with European regulators that must approve...

  • SAN JUAN, Puerto Rico— Puerto Rico is seeking help from federal court to restructure the debt of the U.S. territory's public pension system, which is projected to run out of money this year. "The government's liquidity and solvency problems are massive, and Title III has now become necessary to protect the people of Puerto Rico," the board said in reference to the...

  • NEW YORK, May 19- The U.S. Department of Justice's bankruptcy watchdog said on Friday it plans to appoint a committee of retirees in Puerto Rico's bankruptcy to negotiate for pensioners facing benefit cuts as part of the island's debt restructuring. Puerto Rico, carrying some $50 billion in unfunded pension liabilities, "clearly needs a retiree committee and...

  • DETROIT, May 18- General Motors Co plans to quit selling vehicles in India by the end of this year and will sell operations in South Africa, the latest steps in a strategy of focusing cash and engineering effort on fewer, more profitable markets. The Detroit automaker said on Thursday it will take a $500 million charge in the second quarter to restructure...

  • DETROIT, May 18- General Motors Co plans to quit selling vehicles in India by the end of this year and will sell operations in South Africa, the latest steps in a strategy of focusing cash and engineering effort on fewer, more profitable markets. The Detroit automaker said on Thursday it will take a $500 million charge in the second quarter to restructure...

  • DETROIT, May 18- General Motors Co plans to quit selling vehicles in India by the end of this year and will sell operations in South Africa, the latest steps in a strategy of focusing cash and engineering effort on fewer, more profitable markets. The Detroit automaker said on Thursday it will take a $500 million charge in the second quarter to restructure...

  • DETROIT, May 18- General Motors Co plans to quit selling vehicles in India by the end of this year and will sell operations in South Africa, the latest steps in a strategy of focusing cash and engineering effort on fewer, more profitable markets. The Detroit automaker said on Thursday it will take a $500 million charge in the second quarter to restructure...

  • NEW YORK, May 17- Brazil's state-controlled oil company Petrobras will pay its first shareholder dividend in three years if the company turns a profit in 2017, Chief Executive Officer Pedro Parente said on Wednesday. Parente took the helm of the world's most indebted energy company a year ago and said he is ahead of schedule with an aggressive restructuring...

  • PETROBRAS CEO SAYS COULD HIT END-2018 LEVERAGE TARGET THIS YEAR AS RESTRUCTURING PLAN AHEAD OF SCHEDULE.

  • SAN JUAN, May 17- Puerto Rico's main creditors, meeting before a U.S. bankruptcy judge in the largest public finance restructuring case in history, are interested in continuing mediation settlement talks to resolve the island's unpayable $70 billion debt bill. In the first hearing since the U.S. commonwealth filed for bankruptcy on May 3, a lawyer for Puerto...

  • SAN JUAN, May 17- Puerto Rico's main creditors, meeting before a U.S. bankruptcy judge in the largest public finance restructuring case in history, are interested in continuing mediation settlement talks to resolve the island's unpayable $70 billion debt bill. A lawyer for Puerto Rico's federal financial oversight board told U.S. district court judge Laura...

  • SAN JUAN, May 17- Puerto Rico's main creditors, meeting before a U.S. bankruptcy judge in the largest public finance restructuring case in history, are interested in continuing mediation settlement talks to resolve the island's unpayable $70 billion debt bill. A lawyer for Puerto Rico's federal financial oversight board told U.S. district court judge Laura...

  • BOARD LAWYER EXPECTS RESTRUCTURING DEALS OR TITLE III BANKRUPTCY PROCEEDINGS SOON FOR UNIVERSITY OF PUERTO RICO, WATER AUTHORITY PRASA.

  • May 17- Puerto Rico on Wednesday will face investors for the first time in a bankruptcy court, as it kicks off the biggest and most divisive debt restructuring in U.S. public finance history. While Wednesday's hearing, in federal court in San Juan, is only the start of a process that could take months or years, it is also a culmination of more than two years of bitter...

  • May 17- Puerto Rico on Wednesday will face investors for the first time in a bankruptcy court, as it kicks off the biggest and most divisive debt restructuring in U.S. public finance history. While Wednesday's hearing, in federal court in San Juan, is only the start of a process that could take months or years, it is also a culmination of more than two years of bitter...

  • CRANBERRY, Pa.— Pennsylvania- based teen clothing retailer rue21 is restructuring and filing for Chapter 11 bankruptcy protection about a month after announcing it would close roughly 400 stores to focus more on online sales. The company based in Cranberry, north of Pittsburgh, announced Tuesday that its bankruptcy filing accompanies agreements with...

  • BAKU, May 13- International Bank of Azerbaijan, the energy exporting country's biggest lender, said on Saturday a U.S. court had supported its petition to prevent creditors from pursuing legal action in the United States, giving it time to restructure $3.3 billion debt. Such a petition is not a bankruptcy filing but stops creditors from pursuing legal actions in...