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Business Events Corporate Restructuring

  • NEW YORK— Toys R Us may have filed for Chapter 11 reorganization, but the toy chain is revving up its holiday hiring. The Wayne, New Jersey- based chain said Thursday it will be accepting job applications for part-time holiday positions at stores and distribution centers in the U.S. Walmart won't be doing large-scale holiday hiring at its stores this year.

  • SAO PAULO, Sept 20- Bondholders in Brazilian phone carrier Oi SA want a bankruptcy judge to bar investors who are shareholders as well as creditors from voting next month on a restructuring plan due to a potential conflict of interest, according to a document seen by Reuters on Wednesday. The document underscores the potential for more legal wrangling ahead of...

  • *Operations outside U.S., Canada not part of bankruptcy. Sept 18- Toys' R' Us Inc, the largest U.S. toy store chain, which filed for bankruptcy late Monday, will ask a judge on Tuesday for permission to borrow money so that it can start paying suppliers to ensure it has Lego building blocks and Barbie dolls for the holiday season. The Chapter 11 filing, to restructure $5...

  • *Ukraine liable for big payments if economy takes off. LONDON, Sept 15- Two years after a landmark debt restructuring, Ukraine is seeking a bond swap to avoid a mass of near-term repayments. Ukraine threw in $3.6 billion in GDP warrants- bonds indexed to economic growth- to sweeten its 2015 restructuring that forced investors to write off 20 percent of the original...

  • *Ukraine liable for big payments if economy takes off. LONDON, Sept 15- Two years after a landmark debt restructuring, Ukraine is seeking a bond swap to avoid a mass of near-term repayments. Ukraine threw in $3.6 billion in GDP warrants- bonds indexed to economic growth- to sweeten its 2015 restructuring that forced investors to write off 20 percent of the original...

  • LONDON, Sept 15- Ukraine issued GDP-linked securities, known as warrants, to creditors who wrote down 20 percent of bonds' original value as part of a 2015 debt restructuring. The warrants pay out if Ukraine's economic growth exceeds certain thresholds. These variables are taken from the International Monetary Fund's World Economic Outlook, except for the...

  • Sept 15- Women's shoe retailer Aerosoles Group said it had filed for Chapter 11 bankruptcy protection, the latest casualty in a struggling retail industry. The company had listed assets of $10 million to $50 million and liabilities of $100 million to $500 million, according to its bankruptcy court filing. Aerosoles has more than 300 stores around the world...

  • Sept 15- Women's shoe retailer Aerosoles Group said it had filed for Chapter 11 bankruptcy protection, the latest casualty in a struggling retail industry. The company had listed assets of $10 million to $50 million and liabilities of $100 million to $500 million, according to its bankruptcy court filing. Aerosoles has more than 300 stores around the world...

  • LONDON, Sept 15- U.S. nuclear reactor maker Westinghouse does not expect to come out of Chapter 11 bankruptcy proceedings before the end of this year but hopes to complete its restructuring early next year, its chief executive said. CEO Jose Gutierrez said that majority shareholder Toshiba continues to look for a buyer for the company and that while investment...

  • LONDON, Sept 15- U.S. nuclear reactor maker Westinghouse does not expect to come out of Chapter 11 bankruptcy proceedings before the end of this year but hopes to complete its restructuring early next year, its chief executive said. CEO Jose Gutierrez said that majority shareholder Toshiba continues to look for a buyer for the company and that while investment...

  • OSLO, Sept 12- Seadrill Ltd, the indebted oil rig firm controlled by Norwegian billionaire John Fredriksen, has agreed a restructuring that almost wipes out existing shareholders after filing for Chapter 11 bankruptcy protection. "With our improved capital structure, we will be in a strong position to capitalise when the market recovers," said Anton Dibowitz,...

  • NEW YORK, Sept 12- Trian Partners, the activist fund seeking a seat on Procter& Gamble Co's board, stepped up its criticism of the company's business structure on Tuesday, a day after P&G's chief executive attacked Trian's proposed reorganization as "dangerous." Trian last week released a 94- page plan to boost shares of the consumer products giant, ahead of the Oct....

  • *To shift headquarters to Boston, close some sites. The company named longtime Biogen Inc finance chief Paul Clancy as CFO in June, months after appointing former Baxalta executive Ludwig Hantson as CEO. Alexion's restructuring efforts showed the drugmaker was focused on execution and serious about controlling costs, Cowen& Co analyst Eric Schmidt said.

  • ASTANA, Sept 8- Kazakhstan's sovereign wealth fund is putting plans in place to float the Central Asian nation's flagship carrier and a leading uranium miner as early as next year, a fund executive said. Dauren Tasmagambetov, head of asset restructuring and privatisation at wealth fund Samruk Kazyna, said both Air Astana and miner Kazatomprom had already...

  • *Trinity Mirror in talks to buy Daily Express and Star. LONDON, Sept 8- The publisher of Britain's Daily Mirror is in talks to buy rival titles the Daily Express and Daily Star, raising the prospect of a fresh round of painful restructuring in the embattled newspaper industry. Trinity Mirror, which has over 260 national and regional titles including the...

  • Sept 7- Procter& Gamble Co on Thursday said activist investor Nelson Peltz's plan to boost shareholder value would result in higher costs, lower profits and another restructuring that could lead to a breakup of the company. Peltz's Trian Partners released its long-awaited proposal on Wednesday, and called for P&G to be organized into "three largely autonomous...

  • NEW YORK, Sept 6- Toys "R" Us Inc has hired law firm Kirkland& Ellis LLP to help weigh restructuring options ranging from a bankruptcy filing to raising financing as bricks and mortar retail goes through a major downturn, according to a person familiar with the matter. The privately held toy retailer had previously said it was working with investment bank Lazard Ltd...

  • SAO PAULO, Aug 29- A Rio de Janeiro court decided that billions of reais in debt the telecom company Oi SA has with Brazil's regulator Anatel should be included in the firm's in-court debt restructuring, Oi said on Tuesday. The decision, if confirmed, is a blow to Brazil's prosecutor's office, which wanted Oi's debt with the federal telecommunications watchdog to...

  • SHANGHAI, Aug 29- Hong Kong stocks fell on Tuesday in line with losses in other major global markets after North Korea fired a missile over Japan, escalating geo-political tensions. But equity markets in China, an economic ally of North Korea, remained around 20- month highs, bolstered by robust earnings reports and expectations of further restructuring of...

  • *Plan likely to involve raising $1 billion in new capital. OSLO, Aug 24- Offshore driller Seadrill plans to launch a long-awaited Chapter 11 debt restructuring by Sept. 12, aims to raise $1 billion in new capital, and said existing shareholders may not recover any of the value of their stocks, sending the firm's shares down. Seadrill said the restructuring plan was...