Headlines

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Format: 07-13-2014
June 26, 2014
Thirty men who were sexually abused decades ago as children at two Catholic schools in the Seattle area will split about $12.1 million from the Archdiocese of Seattle, which owned the schools, Dow Jones Daily Bankruptcy Review reported today. The deal between the victims and the Archdiocese of...
June 26, 2014
Bankrupt Energy Future Holdings' novel plan to sell itself through a loan provision has Texas's largest power company in hot water with creditors, who accuse it of trying to skirt a public sale process and hiding its true value, Reuters reported yesterday. The company and its creditors are heading...
June 26, 2014
New Jersey Governor Chris Christie won a key budget battle when a judge ruled he had legal authority to cut payments to the state pension system because he faced a fiscal emergency, Bloomberg News reported yesterday. Christie was confronted with “staggering” shortfalls in his $33 billion budget for...
June 26, 2014
A legislative fight between North Carolina Treasurer Janet Cowell and a state employee association is signaling growing tension over disclosure practices as public pensions seek to improve returns with alternative investments, Bloomberg News reported today. Cowell, a 45-year-old Democrat, opposed a...
June 26, 2014
Barclays Plc was so bent on lifting its private trading venue to the upper ranks of Wall Street dark pools that it lied to customers and masked the role of high-frequency traders, according to New York’s attorney general, Bloomberg News reported yesterday. Barclays falsified marketing materials to...
June 25, 2014
Energy Future Holdings rejected an unsolicited $2.3 billion restructuring plan by NextEra Energy Inc. that would have given the alternative energy group a large stake in Energy Future's power lines unit, according to court filings, Reuters reported yesterday. The proposal, which was revealed in...
June 25, 2014
Thomas J. Butler, head of the Securities and Exchange Commission's Office of Credit Ratings, said that he has referred multiple cases to the agency's enforcement division and is helping complete several industry regulations to address quality and transparency in how big debt deals are rated, the...
June 25, 2014
Nautilus Holdings Ltd., a Bermuda-chartered company that leases container ships, has filed for chapter 11 protection, becoming the latest victim of a depressed shipping industry, Reuters reported yesterday. The company has about $770 million in debt, according to papers filed on Monday with the U.S...
June 25, 2014
Lawyers for bankrupt Genco Shipping & Trading Ltd. yesterday insisted the dry bulk shipper is not being undervalued during the closing of a trial pitting the company against angry shareholders who wanted better treatment in the restructuring, Reuters reported yesterday. The four-day trial...
June 25, 2014
A federal judge will allow a California-based investment firm to purchase West Virginia's Fairmont General Hospital out of bankruptcy for $15 million, Dow Jones Daily Bankruptcy Review reported today. According to court records, Judge Patrick M. Flatley plans to approve the offer for the 207-bed...
June 25, 2014
A fund set up by General Motors Co. to compensate victims of crashes linked to defective ignition switches could offer payments for anyone injured or killed in a crash in which the car's air bags didn't deploy, the Wall Street Journal reported today. Compensation expert Kenneth Feinberg, who will...
June 25, 2014
Anna Raytcheva’s mortgage-bond bets for Citigroup Inc. lost billions of dollars as the financial crisis raged, but amid new rules meant to curb banks’ risky trading, she’s gambling again, Bloomberg News reported today. Raytcheva’s group in New York manages more than $1 billion for the bank and...