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BANKRUPTCY & RESTRUCTURING
Orchard Supply files for Chapter 11, Lowe's steps in 
17 Jun 2013
Orchard Supply Hardware Stores Corp has filed for Chapter 11 bankruptcy protection, court documents showed on Monday, with rival retailer Lowe's Companies...
News
Dubai World makes first major asset sale since crisis 
11 Jun 2013
Dubai World, the state-linked group whose $25 billion of debt brought the emirate to the brink of financial collapse in 2009, has sold one of its UK assets as part of its efforts to repay creditors...
News
Goldman exits China's ICBC, seven years and billions later 
20 May 2013
Goldman Sachs launched on Monday the sale of about $1.1 billion worth of Hong Kong-traded shares in Industrial and Commercial Bank of China, offering to sell its entire remaining stake in the world's biggest bank by market value...
News
New York Life in exclusive negotiation to sell Taiwan unit -sources  Premier Article
16 May 2013
U.S.-insurer New York Life is in exclusive negotiations with Yuanta Financial to sell its Taiwan assets, two sources with close knowledge of the deal told Reuters on Friday, joining other global rivals in exiting the Taiwan market...
News
Austria misses EU deadline to sell Kommunalkredit  Premier Article
16 May 2013
Austria's Kommunalkredit [KAFINK.UL] could still be sold and does not need to be wound down, the country's market watchdog said on Thursday after Vienna missed an EU privatisation deadline for the lender...
News
Greece plans to spin off 30 percent of power utility PPC  Premier Article
15 May 2013
Greece has added some detail to a long-overdue plan for energy market liberalisation, saying it would sell about a third of the production capacity of power utility PPC to a private competitor in about two years...
News
New faces at Rio, BHP woo investors with austerity talk  Premier Article
14 May 2013
New bosses at two of the world's largest mining companies, BHP Billiton and Rio Tinto, wooed investors on Tuesday with promises to slash billions of dollars of spending and press ahead with asset sales, boosting returns...
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TPG sells stake in India's Shriram Transport for $300 mln  Premier Article
10 May 2013
U.S. private equity firm TPG Capital raised about $300 million by selling its roughly 10 percent stake in Indian commercial vehicle financier Shriram Transport Finance Co Ltd to India's Piramal Group, generating a near seven times return on a 2006 investment...
News
Apache plans to sell $4 bln in assets by year-end  Premier Article
9 May 2013
Oil and gas producer Apache Corp said it plans to sell assets worth $4 billion, doubling its divestiture program for the year, to reduce debt and buy back shares...
News
RBS moves executives to prepare for Citizens share sale  Premier Article
9 May 2013
Royal Bank of Scotland's chief executive Stephen Hester has moved two of his key lieutenants into new roles as he prepares for a sale of shares in its U.S. arm Citizens Financial Group...
News
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Restructuring watch: UK's Co-op Group outlines debt-for-equity rescue plan of retail bank unit 
18 Jun 2013
Britain’s Co-operative Group has found a way to plug a £1.5 billion capital hole in its retail bank, the Co-operative Bank…
Analysis
Activist investor to push for new debt deal at PagesJaunes  Premier Article
13 May 2013
Activist investor Guy Wyser-Pratte said he is seeking board seats at French phone directories company PagesJaunes to force its biggest shareholder...
News
Independent News secures debt deal, plans rights issue  Premier Article
26 Apr 2013
Ireland's Independent News & Media has struck a deal to cuts its debt by two thirds, its second restructuring in four years that will see its lenders take...
News
British courts scheme for acquisitions through extra-territoriality arrangements  Premier Article
18 Apr 2013
Cross-border deals are moving offshore and into foreign schemes of arrangement, as Jersey and England open up their courts…
News
AMR files bankruptcy exit plan in step towards merger with US Airways  Premier Article
15 Apr 2013
AMR Corp, the parent company of American Airlines, filed formal plans to exit bankruptcy on Monday, bringing its proposed $11 billion merger with US Airways Group closer to reality...
News
Cyprus rescue proves taxing for companies seeking a haven  Premier Article
26 Mar 2013
The near bankruptcy of Cyprus and its fraught rescue plan have raised difficult questions over how the country’s…
Analysis
Iberdrola cuts debt, looks for growth abroad  Premier Article
14 Feb 2013
Spanish power company Iberdrola said it was on track to meet debt targets after selling assets, and that expansion abroad and in its renewables business would drive growth...
News
Yellow Pages publisher Hibu says debt deal likely in "near future"  Premier Article
12 Feb 2013
Yellow Pages publisher Hibu Plc, which is grappling with a heavy debt load, said it remains in talks with lenders and expects to reach a deal on restructuring its debt "in the near future."...
News
Punch Taverns identifies debt restructuring solutions  Premier Article
7 Feb 2013
Punch Taverns said on Thursday it had identified a number of restructuring solutions for its debt, which it said already had the support of a significant group of shareholders...
News
Budget officials flee San Bernardino amid bankruptcy chaos  Premier Article
24 Jan 2013
Top budget officials in crisis-hit San Bernardino, California, are quitting the city at a crucial juncture in its quest to seek bankruptcy protection...
News
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Restructuring watch: UK's Co-op Group outlines debt-for-equity rescue plan of retail bank unit 
18 Jun 2013
Britain’s Co-operative Group has found a way to plug a £1.5 billion capital hole in its retail bank, the Co-operative Bank…
Analysis
Deutsche Bank to face more shareholder anger at annual meeting 
23 May 2013
Deutsche Bank's bosses are likely to get a grilling from shareholders on Thursday about a string of lawsuits and regulatory probes involving Germany's biggest bank...
News
British Land to exit mainland Europe as economic crisis bites  Premier Article
14 May 2013
Property developer British Land is looking to sell its 255 million pound ($391 million) portfolio of retail properties in mainland Europe after the assets lost almost a fifth of their value on the back of the economic crisis in Spain and Portugal...
News
British courts scheme for acquisitions through extra-territoriality arrangements  Premier Article
18 Apr 2013
Cross-border deals are moving offshore and into foreign schemes of arrangement, as Jersey and England open up their courts…
News
Regulatory watch: FSA replacement tests its powers with Cyprus restructuring  Premier Article
3 Apr 2013
It has been just three days since the UK instilled the Prudential Regulation Authority (PRA) in place of the FSA…
Analysis
EADS shareholders back sweeping ownership change  Premier Article
27 Mar 2013
Airbus parent EADS won backing for sweeping changes in its structure, claiming "emancipation" from political interference as shareholders tore up a Franco-German ownership pact...
News
Foxconn to shift China retail focus online after Metro ends JV  Premier Article
1 Mar 2013
Foxconn Technology Group said it will shift its China retailing focus to online sales after a joint venture with German retailer Metro AG...
News
D.C. law firm Patton Boggs lays off lawyers, sources say  Premier Article
1 Mar 2013
The Washington, D.C., law firm Patton Boggs has laid off an unknown number of lawyers and administrative staff, according to two sources...
News
Barclays to axe 3,700 jobs in strategic overhaul  Premier Article
12 Feb 2013
Barclays is to axe at least 3,700 jobs and prune its investment bank, under a restructuring plan launched by its new chief executive which seeks to cut 1.7 billion pounds ($2.7 billion) in annual costs and improve standards...
News
Budget officials flee San Bernardino amid bankruptcy chaos  Premier Article
24 Jan 2013
Top budget officials in crisis-hit San Bernardino, California, are quitting the city at a crucial juncture in its quest to seek bankruptcy protection...
News
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Restructuring watch: UK's Co-op Group outlines debt-for-equity rescue plan of retail bank unit 
18 Jun 2013
Britain’s Co-operative Group has found a way to plug a £1.5 billion capital hole in its retail bank, the Co-operative Bank…
Analysis
Spain's La Seda de Barcelona files for insolvency 
17 Jun 2013
Spain's La Seda de Barcelona, LSB, which makes plastic bottles in Europe, Turkey and North Africa, said on Monday it would begin insolvency proceedings after...
News
Fee overhaul for U.S. bankruptcy lawyers to take effect Nov. 1 
11 Jun 2013
June 11 (Reuters) - Attorneys in big bankruptcy cases will soon have to make an array of disclosures on how they bill clients under new fee guidelines finalized by the U.S. Department of Justice on Tuesday.
News
Affiliates of electric car maker Coda file for bankruptcy 
11 Jun 2013
U.S. electric car manufacturer Miles Electric Vehicles filed for chapter 11 bankruptcy protection early on Tuesday, court documents showed, highlighting the...
News
Punch Taverns proposes new debt plan as trading improves 
10 Jun 2013
British pub company Punch Taverns has proposed a new restructuring plan to reduce its debt and said trading picked-up in its third quarter...
News
Battery maker Exide Technologies files for bankruptcy 
10 Jun 2013
U.S. battery maker Exide Technologies filed for Chapter 11 bankruptcy protection early on Monday, court documents showed, with the aim of...
News
Equiniti pays up as FCA blocks bond 
7 Jun 2013
Business services company Equiniti will end up paying around GBP7.75m in extra interest costs over the life of a bond it was forced to relaunch this week after...
News
FCC's Alpine says needs bridge financing amid asset sale delays 
7 Jun 2013
Alpine, the Austrian unit of Spanish construction group FCC, needs more bridge financing from creditors and has drawn up a new business plan given delays in planned asset sales, it said...
News
Fiat and Chrysler to refinance loans before deal 
4 Jun 2013
Fiat has launched the first part of a three-stage multi-billion euro financing package, seeking to refinance loans taken out by Fiat and Chrysler...
News
AMR can send restructuring plan to creditors for a vote -judge 
4 Jun 2013
American Airlines' bankrupt parent received court permission on Tuesday to send its restructuring plan to creditors for a vote, bringing its planned $11 billion merger with...
News
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