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Business Events Bankruptcy

  • SINGAPORE, Dec 15- Commodities trader Noble Group Ltd is negotiating a debt restructuring program with its creditors to stay out of an insolvency process and expects to receive proposals soon, its chairman said on Friday. Paul Brough, a restructuring specialist who was appointed chairman this year, said the company was pulling out all stops to avoid an...

  • FRANKFURT, Germany— Germany- based sex shop chain Beate Uhse AG says its holding company is filing for bankruptcy restructuring after failing to raise financing from investors and restructure its debts. CEO Michael Specht said in a statement that the company's goal was "to quickly and sustainably implement operational and financial restructuring" while...

  • RIO DE JANEIRO/ BRASILIA, Dec 13- Brazilian telecommunications firm Oi SA has reached a deal with two major creditor groups on a plan to exit bankruptcy protection, in a major breakthrough for Latin America's largest ever in-court debt restructuring. The company said in a filing on Wednesday that the Ad Hoc Group of Oi Bondholders and International Bondholders...

  • WILMINGTON, Del., Dec 13- A U.S. judge shot down on Wednesday a request by creditors of Westinghouse Electric Co LLC for a bigger role in the nuclear technology company's bankruptcy just days after its parent company Toshiba Corp proposed a restructuring plan. Bankruptcy Judge Michael Wiles dismissed claims by the official committee of unsecured creditors...

  • RIO DE JANEIRO/ BRASILIA, Dec 13- Brazilian telecommunications firm Oi SA has reached a deal with two major creditor groups on a plan to recover the company from bankruptcy protection, in a major breakthrough for Latin America's largest ever in-court debt restructuring. The company said in a filing on Wednesday that the Ad Hoc Group of Oi Creditors and...

  • Bankruptcies will continue to rock retail in 2018. Here's what you need to watch

    The latest bankruptcy filing from a retailer comes from Texas-based fashion accessories chain Charming Charlie

  • SAN FRANCISCO, Dec 8- The parent company of the Boston Herald filed for Chapter 11 bankruptcy on Friday and will look to sell the newspaper to Gatehouse Media LLC, a move that underscores the hard times facing traditional print journalism. Publisher and owner Patrick Purcell broke the news personally to the newspaper's staff and said in a letter to employees...

  • BOSTON— The Boston Herald is declaring bankruptcy and has agreed to be sold to GateHouse Media. The daily newspaper founded in 1846 announced Friday it filed a voluntary Chapter 11 bankruptcy petition in Delaware. New York- based GateHouse Media publishes more than 600 newspapers in 38 states, including daily newspapers serving Cape Cod, Worcester and Fall...

  • Toys R Us

    Toys R Us won court approval to pay top executives up to $21 million in bonuses by saying the money will incentivize them to boost sales during the holiday season.

  • Baupost and GSO Capital Partners LP, the credit arm of private equity firm Blackstone Group LP, in September bought at a discount claims South Carolina utilities had against Toshiba stemming from nuclear projects Westinghouse failed to finish. But Toshiba on Tuesday secured roughly $5 billion in financing, which the Japanese company has said it will use to...

  • Dec 5- Toys' R' Us won court approval on Tuesday for plan to pay top executives up to $21 million in bonuses by arguing that the money will incentivize them to boost the bankrupt retailer's sales during the critical year-end shopping season. "The company is laser-focused on the holidays," Toys' R' Us lawyer Joshua Sussberg said at a hearing at the U.S. Bankruptcy Court in...

  • Robert Shapiro, who resigned as Woodbridge's chief executive officer on Friday, had gained attention last year when he bought the Owlwood Estate in Los Angeles, the storied former home of stars such as Tony Curtis and Cher, for $90 million. The privately owned company owes about $750 million to an estimated 8,998 noteholders, according to documents filed in the...

  • Dec 4- Real estate developer Woodbridge Group of Companies filed for Chapter 11 bankruptcy on Monday, citing costs of expansion, litigation and a government fraud investigation. The privately owned company has raised nearly $1 billion from about 11,000 investors, according to documents filed in the U.S. Bankruptcy Court in Delaware. Chief Executive Officer...

  • Sale signs outside a Toys R Us store in Basingstoke, Hampshire, as the company has put forward plans to close at least 26 U.K. stores, putting up to 800 jobs at risk.

    The British arm of Toys R Us Inc has submitted a Company Voluntary Arrangement (CVA) plan to its creditors.

  • Nov 30- The bankruptcy of hot yoga pioneer Bikram Choudhury Yoga Inc should be dismissed or converted to a Chapter 7 liquidation due to a failure to file required documents, according to papers filed by the U.S. Department of Justice's bankruptcy watchdog. The Simi Valley, California- based company filed for Chapter 11 protection on Nov. 9, dogged by $16.7 million...

  • Nov 29- U.S. radio broadcaster Cumulus Media Inc filed for Chapter 11 bankruptcy protection and said it has entered into a restructuring agreement with certain of its lenders to reduce more than $1 billion in debt. "The debt overhang left by previous years of underperformance remains a significant financial challenge that we must overcome for our operational...

  • BRASILIA, Nov 29- The judge handling the bankruptcy restructuring of Brazilian telecoms Grupo Oi SA decided on Wednesday to postpone a meeting of creditors until Dec. 19 because stakeholders could not agree on key issues.

  • Nov 28- The judge overseeing the bankruptcy of Avaya Inc said on Tuesday he would confirm the telecommunication company's Chapter 11 plan, bringing its nearly year-long effort to reorganize its finances effectively to a close. Judge Stuart Bernstein of the U.S. Bankruptcy Court in New York said at a hearing he was satisfied with the plan, which marked a third try...

  • SAO PAULO/ LISBON, Nov 24- Brazilian telephone carrier Oi SA, which is operating under bankruptcy court protection, appointed Eurico de Jesus Teles Neto as acting chief executive after Marco Schroeder resigned from the post on Friday, the company said in a securities filing. Teles Neto will also serve as legal director until the board deliberates on a permanent...

  • SAO PAULO/ LISBON, Nov 24- The chief executive of Oi SA has resigned, its largest shareholder said on Friday, as the Brazilian telecommunications firm enters a crucial phase in Latin America's biggest-ever bankruptcy proceedings. A spokeswoman for Portugal's Pharol SGPS SA, which owns about 27.5 percent of Oi's voting shares and is part of a controlling...