Headlines

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Format: 07-31-2014
July 1, 2014
An investment group that owns a piece of a major telecom firm in the Republic of Georgia filed for bankruptcy in a U.S. court on Monday, facing a deadline to pay more than $11 million to noteholders, Dow Jones Daily Bankruptcy Review reported today. MIG LLC, which operates as Metromedia...
July 1, 2014
General Motors Co. recalled 8.45 million more vehicles yesterday and surpassed the record for U.S. safety fixes by an automaker in a calendar year, as Chief Executive Officer Mary Barra steps up efforts to shed the automaker’s reputation for foot-dragging on defective parts, Bloomberg News reported...
July 1, 2014
BNP Paribas SA sought to allay concerns about its ability to weather a landmark $9 billion settlement with U.S. authorities, saying it has ample cash to cover penalties and faces no urgency to boost its capital cushion, the Wall Street Journal reported today. BNP Paribas Chief Financial Officer...
June 30, 2014
Argentina is poised to miss a bond payment today, putting the country on the brink of its second default in 13 years, after a U.S. court blocked the cash from being distributed until the government settles with creditors from the previous debt debacle, Bloomberg News reported yesterday. The nation...
June 30, 2014
A pair of Wall Street investment firms is challenging Puerto Rico's new law allowing some public agencies to restructure their debt, saying that it violates the U.S. Constitution, the Wall Street Journal reported today. Funds managed by Franklin Templeton Investments and OppenheimerFunds Inc. asked...
June 30, 2014
Detroit and a group of hold-out creditors will meet today over one of the last unresolved major issues in the city's historic bankruptcy case, Reuters reported on Friday. U.S. Judge Gerald Rosen, who is heading mediation in the case, on Thursday ordered bond insurance companies and European banks...
June 30, 2014
A powerful Texas state senator warned against a takeover by hedge funds of the power distribution unit of bankrupt Energy Future Holdings and said the state would prefer an owner with a long-term view, Reuters reported on Friday. Senator Troy Fraser told Reuters on Friday that Texas prefers that...
June 30, 2014
Wireless venture LightSquared has reached a deal to end its chapter 11 bankruptcy, but its largest creditor, satellite operator Charles Ergen, is not on board and "wasted the parties' time," according to a report from the court-appointed mediator, Reuters reported on Friday. The mediator, Judge...
June 30, 2014
A prominent compensation expert hired by General Motors is scheduled to announce a plan today to distribute money to victims of accidents caused by the automaker’s defective ignition switch, the New York Times reported today. But the payouts — which could cost GM billions of dollars — may not fully...
June 30, 2014
Caesars Entertainment Corp. said on Friday that it would close the Showboat casino-hotel in Atlantic City this summer, dealing another blow to a resort city already reeling from increased competition and a years-long decline in gambling revenue, Dow Jones Daily Bankruptcy Review reported today. Las...
June 30, 2014
The landmark settlement expected Monday between U.S. authorities and BNP Paribas SA began to take shape last summer, after bank executives flew to New York to share an embarrassing admission: The French bank had been processing potentially illicit dollar transactions with countries blacklisted by...
June 27, 2014
Argentina lost a last-ditch bid to delay payments to Paul Singer’s NML Capital Ltd. and other holders of its defaulted bonds, adding to pressure on the South American country to negotiate a deal with the holdouts, Bloomberg News reported yesterday. U.S. District Judge Thomas Griesa had ordered...