Here is the latest Bankruptcy News from Reuters.
BRIEF-Inner Mongolia Yitai Coal’s mining equipment unit plans to file for bankruptcy
* Says mining equipment unit plans to file for bankruptcy liquidation due to severe loss and sluggish market
BRIEF-NunaMinerals: creditor files bankruptcy petition
* Said on Tuesday it had received notification that creditor had filed petition for bankruptcy of NunaMinerals with Court of Greenland
BRIEF-Metric Mobility Solutions to file for insolvency
* Said on Tuesday is to file an application for the initiation of insolvency proceedings with the competent Local Court of Hanover under the Company’s own administration
BRIEF-Arch Coal further amended DIP credit agreement extending bankruptcy court approval deadline of disclosure statement
* Further amendment to DIP credit agreement extending bankruptcy court approval deadline of disclosure statement from June 23 to July 7 Source text for Eikon: (http://1.usa.gov/29dakAk) Further…
U.S. Senate leader hopeful of Democrats’ support for Puerto Rico debt bill
WASHINGTON, June 28 (Reuters) – U.S. Senate Majority Leader Mitch McConnell on Tuesday said he was optimistic that a Puerto Rico debt relief bill will get enough Democratic support to advance the…
Top U.S. Senate Democrat says he will support Puerto Rico bill
WASHINGTON, June 28 (Reuters) – Senate Democratic leader Harry Reid said on Tuesday that he will support a bill to address Puerto Rico’s financial crisis when it comes up for an important procedural…
Democratic Senator Wyden says he will vote for Puerto Rico debt bill
WASHINGTON, June 28 (Reuters) – Democratic U.S. Senator Ron Wyden said on Tuesday he will vote for a crucial Puerto Rico debt restructuring bill, saying it was the best alternative for the…
Texas ex-tycoon Wyly ordered to pay $1.1 bln for tax fraud
June 27 (Reuters) – A federal bankruptcy judge in Texas on Monday ordered former billionaire Sam Wyly to pay $1.11 billion in back taxes, interest and penalties after finding he committed tax fraud…
U.S. Senate set to begin debate on Puerto Rico debt relief bill
WASHINGTON, June 27 (Reuters) – The U.S. Senate is on track to cast its first votes on a Puerto Rico debt relief bill as early as Wednesday after Majority Leader Mitch McConnell took steps late on…
UPDATE 1-Aurelius unit seeks bankruptcy of Netherlands-based Oi subsidiary
SAO PAULO, June 27 (Reuters) – A unit of distressed debt firm Aurelius Capital Management LP asked a Dutch court on Monday to start bankruptcy proceedings against a Netherlands subsidiary of phone…
UPDATE 1-U.S. Senate set to begin debate on Puerto Rico debt relief bill
WASHINGTON/NEW YORK, June 27 (Reuters) – After months of waiting for the U.S. Congress to act as Puerto Rico’s economic crisis progressively worsened, the Caribbean island is on the verge of securing…
Aurelius unit seeks bankruptcy of Netherlands-based Oi subsidiary
SAO PAULO, June 27 (Reuters) – A unit of distressed debt firm Aurelius Capital Management LP is asking a Dutch court to start bankruptcy proceedings against a Netherlands-based subsidiary of phone…
BRIEF-John Hammons Hotels & Resorts files for Chapter 11 to implement financial restructuring
* Family of cos, revocable trust of John Q. Hammons have filed Chapter 11 to implement financial restructuring
Echoes of February as AT1 market takes another leg down
LONDON, June 27 (IFR) – European banks’ Additional Tier 1 debt took another knock on Monday as the economic and political fallout of Brexit hung over markets, triggering the most violent price action…
UPDATE 1-U.S. Treasury’s Lew urges Senate to act on Puerto Rico debt
WASHINGTON, June 27 (Reuters) – U.S. Treasury Secretary Jack Lew on Monday called on the Senate to take immediate action this week to address Puerto Rico’s $70 billion debt crisis before the critical…
U.S. Treasury’s Lew asks Senate for immediate action on Puerto Rico debt crisis
WASHINGTON, June 27 (Reuters) – U.S. Treasury Secretary Jack Lew on Monday called on the Senate to take immediate action this week to address Puerto Rico’s debt crisis before the critical July 1…
BRIEF-Property Lease Fund modifies motion for accelerated arrangement proceedings
* Said on Friday that it filed a modified motion on June 24 for the opening of the accelerated arrangement proceedings as Wroclaw Court states an irregularity in its previous partial accelerated…
BRIEF-GUMSUNG TECH receives file for bankruptcy from creditor
* Says its creditor, a Korea-based company has filed for the company’s bankruptcy with Suwon District Court on June 23
Dick’s Sporting Goods bids on 17 Sports Authority stores -source
NEW YORK, June 23 (Reuters) – Dick’s Sporting Goods submitted a bid for 17 Sports Authority stores, with other retailers making offers for only single locations of the bankrupt sporting goods…
Delaware judge rules for ETE in Williams merger dispute
BRIEF-Verso Paper Holdings says bankruptcy court entered order confirming debtors’ first modified third amended joint plan of reorganization under Chapter 11
* On June 23, bankruptcy court entered order confirming debtors’ first modified third amended joint plan of reorganization under Chapter 11
UPDATE 3-Court says ETE can walk away from $20 bln Williams takeover
NEW YORK/WILMINGTON, Del., June 24 (Reuters) – Energy Transfer Equity won a court ruling on Friday that would allow the pipeline operator to walk away from its more than $20 billion takeover of rival…
BRIEF-Court declares bankruptcy of Armada unit
* Says court declares bankruptcy of its unit, Soyuzinform Source text – http://bit.ly/28RSzUV
Bank bonds plummet as UK walks away from EU
LONDON, June 24 (IFR) – UK bank bonds were hit hard in secondary markets on Friday following the nation’s vote to leave the European Union, storing up a period of huge uncertainty for the sector.
Brazil’s Oi says bankruptcy protection recognized in England, Wales
RIO DE JANEIRO, June 23 (Reuters) – Brazilian telecoms provider Oi SA said on Thursday its request for bankruptcy protection has been recognized by courts in England and Wales.
Bankruptcy filing by Brazil’s Oi rattles global supply chain
SAO PAULO, June 23 (Reuters) – Brazil’s biggest bankruptcy filing ever is sending shockwaves far beyond the recession-hit country’s borders as operator Oi SA seeks creditor protection from global…
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