Headlines

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Format: 07-28-2014
July 28, 2014
Detroit released a revised debt adjustment plan on Friday that details the role of a post-bankruptcy monitor and sets up a reserve fund to possibly enhance recoveries for certain creditors, Reuters reported on Friday. The fifth revision of the plan filed in bankruptcy court creates a litigation...
July 28, 2014
Ambac Assurance Corp. said that its final settlement in Detroit's bankruptcy case over the treatment of limited-tax general obligation bonds that it insured for the city would result in a 34 percent recovery, plus another possible 19 percent from a litigation reserve, Reuters reported on Friday....
July 28, 2014
While private equity firms often operate like such broker-dealer firms as Morgan Stanley or Goldman Sachs, they are not uniformly subject to the same Securities and Exchange Commission regulations aimed at reining in excesses and requiring that the advice they provide is appropriate, according to a...
July 28, 2014
GSE Environmental Inc., a maker of landfill liners and manhole systems, won court approval of a reorganization plan that hands control of the company to holders of $173.4 million in secured notes, Bloomberg News reported on Friday. Bankruptcy Judge Mary Walrath approved a program giving all the new...
July 28, 2014
Argentina could make unfortunate history this week if it defaults on its foreign debt for the second time in 13 years as a showdown with creditors comes to a head, according to an analysis in today’s Wall Street Journal. When Argentina last defaulted on this debt, in 2001, it was the biggest...
July 28, 2014
Crumbs Bake Shop Inc. may proceed with plans to sell itself at a bankruptcy auction in August, a judge ruled Thursday, despite an objection from a newly formed creditor committee that more time is needed to look for prospective bidders, the Wall Street Journal reported on Friday. An investor group...
July 28, 2014
The company once known as Fisker Automotive enters the final phase of its corporate existence today, when it puts its chapter 11 plan before a judge for approval, Dow Jones Daily Bankruptcy Review reported today. If Judge Kevin Gross confirms the plan, unsecured creditors are slated to get an...
July 28, 2014
Private equity firm KKR & Co. LP said on Friday that its special situations fund would lead an investment of more than $680 million in Preferred Sands, keeping one of North America's largest producers of sand for oil and gas producers in business, Reuters reported on Saturday. Headquartered in...
July 28, 2014
Dollar Tree Inc. agreed to acquire Family Dollar Stores Inc. in a cash-and-stock deal that values the struggling discount retailer at about $8.5 billion, the Wall Street Journal reported today. The agreement, which provides Family Dollar with a roughly 23 percent premium over the company's closing...
July 28, 2014
Barclays Plc asked a judge to throw out New York Attorney General Eric Schneiderman’s lawsuit that accused the bank of lying to customers and hiding the role of high-frequency traders to boost its dark pool profile, Bloomberg News reported on Friday. The London-based bank said that the lawsuit...
July 25, 2014
American Airlines Group Inc. will pay its first dividend since 1980 and repurchase $1 billion in stock, matching a buyback by United Airlines’ parent as the once-struggling industry returns more cash to investors, Bloomberg reported yesterday. The 10-cents-a-share quarterly payout came as the 2013...
July 25, 2014
Energy Future Holdings asked a judge to extend the period in which it controls its chapter 11 case and said that it is scrapping its original debt-cutting plan in favor of an auction of its Oncor unit, Reuters reported yesterday. The company asked Hon. Christopher S. Sontchi to extend its exclusive...