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Business Events Bankruptcy

  • The company, controlled by Norwegian-born billionaire John Fredriksen, and its consolidated entities presented a restructuring plan to address $12.8 billion in debt and other liabilities, the biggest bankruptcy ever in the offshore rig industry. **John Fredriksen, via his family's investment vehicle, Hemen Investments Limited; Centerbridge Credit...

  • An empty parking lot outside a Toys R Us store.

    The percentage of U.S. retailers with high-risk CCC ratings has doubled since the beginning of the year, according to a new report by S&P.

  • *Billionaire John Fredriksen to remain major shareholder. WILMINGTON, Del./ OSLO, Oct 2- Seadrill Ltd's $12.7 billion debt restructuring faces a critical phase as hold-out creditors prepare to challenge the plan put forward by John Fredriksen, its largest shareholder, as soon as a hearing next week. Chapter 11 bankruptcy protection in Texas on Sept. 12, presenting...

  • Oct 2- U.S. paper maker Appvion Inc and some of its subsidiaries filed for Chapter 11 bankruptcy protection on Sunday, the company said. Appvion listed assets in the range of $100 million- $500 million and liabilities in the range of $500 million- $1 billion, the Delaware bankruptcy court filing showed. Appvion, headquartered in Appleton, Wisconsin and owned by its...

  • An Airbus passenger aircraft, operated by Monarch Airlines, taxis at London Gatwick airport in Crawley, U.K., on Oct. 11, 2016.

    Monarch Airlines immediately ceased operations Monday, leaving hundreds of thousands of stranded customers and cancelled bookings.

  • Sept 27- Canadian steel producer Stelco Holdings Inc, which emerged from bankruptcy protection three months ago, said on Wednesday it has filed a preliminary prospectus with securities regulators in Canada for a proposed initial public offering of its shares. Stelco, which is owned by U.S. restructuring firm Bedrock Industries Group LLC, is seeking to raise US...

  • Construction workers dig a trench on a waterfront street in Old San Juan, Puerto Rico (file photo).

    The storm's damage is far worse than anticipated, and in the minds of some investors the debt is already written off

  • SAN FRANCISCO, Sept 26- The thought of Toys' R' Us closing stores due to its recent bankruptcy filing is too much for one nine-year-old to bear, according to court papers. Bankruptcy Judge Keith Phillips, who is overseeing the bankruptcy case. Toys' R' Us filed for Chapter 11 bankruptcy protection earlier this month to restructure $5 billion of its long-term debt.

  • In court papers filed in U.S. bankruptcy court in San Juan, the Puerto Rico Fiscal Agency and Financial Advisory Authority sought "urgent" permission from federal Judge Laura Taylor Swain, who oversees the $72 billion bankruptcy, for a four-week extension on so-called discovery in a slew of legal disputes in the case. The authority also requested that Swain...

  • **China Telecom Ltd could participate in a plan to inject fresh capital into Oi SA, the Brazilian phone carrier under bankruptcy protection, a senior executive at the Brazilian firm said on Friday. **Turkey's Polinas Plastik has agreed to buy 90 percent of packaging firm Propak Ambalaj for 47 million euros, Polinas's parent company said on Friday, a deal that will...

  • Now Product Launchers, which supplies other novelty items like squishies from five toymakers to Toy' R' Us, expects it will not be paid for the $500,000 fidget spinner order and other items following the chain's Chapter 11 bankruptcy filing on Sept. 19, Product Launchers Chief Executive Linda Parry Murphy told Reuters. Meanwhile Barbie maker Mattel Inc, toy and...

  • The Toys R Us store in Times Square, New York City.

    Changing consumer taste preferences, shopping behavior and the need for speed offer some reasons why the retail landscape has evolved so rapidly.

  • WILMINGTON, Del., Sept 22- Employees of U.S. nuclear power firm Westinghouse Electric Co LLC, which is bankrupt and reeling from a failed reactor project, got a nasty surprise recently: in the eyes of the U.S. government's pension insurer, its retirement plan has a massive shortfall. By contrast, the Westinghouse Electric Co Pension Plan, which has about 9,700...

  • Sept 20- Toy maker Jakks Pacific Inc said on Wednesday it expects to report a net loss in fiscal 2017 due to charges related to bankruptcy of the biggest U.S. toy store chain Toys' R' Us Inc.. "2017 continues to present a challenging retail environment, which has now been further disrupted by the Toys' R' Us Chapter 11 filing," Jakks Chief Executive Stephen Berman said.

  • Sept 20- Toys "R" Us Inc has been making $400 million in interest payments on its debt every year, largely due to its $6.6 billion leveraged buyout in 2005. The bankruptcy filing was the culmination of an unsuccessful seven-month effort by Toys "R" Us to find relief from its $5.2 billion debt pile, according to bankruptcy court filings and people familiar with the...

  • Sept 20- Toys "R" Us Inc has been making $400 million in interest payments on its debt every year, largely due to its $6.6 billion leveraged buyout in 2005. The bankruptcy filing was the culmination of an unsuccessful seven-month effort by Toys "R" Us to find relief from its $5.2 billion debt pile, according to bankruptcy court filings and people familiar with the...

  • Sept 20- Toys "R" Us Inc has been making $400 million in interest payments on its debt every year, largely due to its $6.6 billion leveraged buyout in 2005. The bankruptcy filing was the culmination of an unsuccessful seven-month effort by Toys "R" Us to find relief from its $5.2 billion debt pile, according to bankruptcy court filings and people familiar with the...

  • *Operations outside U.S., Canada not part of bankruptcy. Sept 18- Toys' R' Us Inc got court permission on Tuesday to borrow more than $2 billion to start paying suppliers so it can stock up on items like Lego building blocks and Barbie dolls for the holiday season, a day after it filed for bankruptcy. Ten days later, nearly all the company's vendors refused to ship...

  • *Operations outside U.S., Canada not part of bankruptcy. Sept 18- Toys' R' Us Inc got court permission on Tuesday to borrow more than $2 billion to start paying suppliers so it can stock up on items like Lego building blocks and Barbie dolls for the holiday season, a day after it filed for bankruptcy. Ten days later, nearly all the company's vendors refused to ship...

  • WILMINGTON, Del, Sept 19- The U.S. Bankruptcy judge overseeing the Chapter 11 of Toys' R' Us said on Tuesday he would approve the company's request to borrow more than $2 billion to help stabilize the largest U.S. toy chain as it builds inventory for the year-end shopping season. Toys' R' Us filed for bankruptcy Monday, squeezed by online shopping and discount chains.