US Shipping Partners' bankruptcy reorganization plan confirmedOctober 1st, 2009 US Shipping Partners' bankruptcy plan confirmedEDISON, N.J. — Petroleum and chemical shipper U.S.
FairPoint says it hopes to restructure debt but still may have to file for Chapter 11September 30th, 2009 FairPoint in talks with lendersCHARLOTTE, N.C. — Troubled phone company FairPoint Communications Inc.
Tribune executive defends proposed bonuses of up to $70 million in bankruptcy hearingSeptember 25th, 2009 Tribune exec defends bonus plan in Ch. 11 hearingWILMINGTON, Del.
Equity infusion into Air India to be discussed soonSeptember 16th, 2009 NEW DELHI - Stating that the revival plan for cash-strapped national carrier Air India was well on track, Civil Aviation Minister Praful Patel Wednesday said that his ministry will shortly seek cabinet approval for equity infusion into the airline. "There are two issues concerning Air India.
Tamil Nadu Telecom's debt to be converted to equityAugust 20th, 2009 NEW DELHI - The government Thursday said it would convert loans taken by state-owned Tamil Nadu Telecommunications Ltd (TTL) to equity as part of efforts to revive the ailing company. TTL is a joint venture between Telecommunications Consultants India Ltd (TCIL), a public sector telecom consultancy and engineering company, and Tamil Nadu Industrial Development Corp.
Station Casinos gets fourth extension on debt plan, new deadline July 17 to OK restructuringJune 22nd, 2009 Station Casinos gets fourth extension on debt planLAS VEGAS — Station Casinos Inc. says it is continuing to negotiate a restructuring plan with bondholders and has extended its deadline to next month.
Six Flags seeks Chapt. 11 bankruptcy protection, says it needs to shed $1.8 billion in debtJune 13th, 2009 Six Flags seeks Chapt. 11 bankruptcy protectionNEW YORK — The amusement park company Six Flags is seeking Chapter 11 bankruptcy protection, saying it needs to reorganize and shed $1.8 billion of debt.
6 Flags seeks Chapt. 11 bankruptcy protection, says it needs to shed $1.8 billion in debtJune 13th, 2009 6 Flags seeks Chapt. 11 bankruptcy protectionNEW YORK — The amusement park company Six Flags is seeking Chapter 11 bankruptcy protection, saying it needs to reorganize and shed $1.8 billion of debt.
Six Flags theme park company declares bankruptcy, says it needs to shed $1.8 billion in debtJune 13th, 2009 Six Flags declares bankruptcyNEW YORK — The amusement park company Six Flags says it has filed for bankruptcy. The New York-based operator of 20 theme parks in the U.S., Mexico and Canada said Saturday that the filing in a federal bankruptcy court in Delaware is part of its plan to reorganize and shed $1.8 billion worth of debt.
General Motors may seek reverse stock split, swapping 1 share for every 100 from stockholdersMay 5th, 2009 GM may seek 1-for-100 reverse stock splitDETROIT — General Motors Corp. says it may offer current shareholders a reverse stock split that would give them one share of new stock for every 100 shares they currently own.
GM bondholder committee offers to give up $27B in debt for majority stake in restructured GMApril 30th, 2009 GM bondholders seek to take majority stakeNEW YORK — General Motors Corp. bondholders want a majority stake in the restructured automaker in exchange for forgiving their claim to $27 billion of GM debt, a committee representing the bondholders said Thursday.
Treasury offers Chrysler lenders $1.5 billion plus 5 percent equity stake, says WSJApril 23rd, 2009 Report: Treasury makes offer to Chrysler lendersLOS ANGELES — The Treasury Department lobbed back a new offer to Chrysler LLC's lenders, proposing that banks and hedge funds which hold $6.9 billion in debt forgive $5.4 billion in exchange for a 5 percent stake in a Chrysler-Fiat alliance, media reports said late Wednesday. The new offer represents payment of 22 percent of the debt lenders are owed, according to a report by The Wall Street Journal.
Lenders offer to swap $2.5B of Chrysler's debt for equity, but won't give up all they're owedApril 21st, 2009 Chrysler lenders offer to swap $2.5B for equityDETROIT — Banks and hedge funds that hold $6.9 billion in Chrysler LLC debt have proposed forgiving $2.5 billion of it in exchange for about a 40 percent stake a Chrysler-Fiat alliance, according to two people briefed on the proposal. One of the people said the lenders delivered their counterproposal to Chrysler and the U.S.
Wockhardt scrip nose-dives 20 percentApril 1st, 2009 MUMBAI - The stock of healthcare major Wockhardt fell 20 percent on the Bombay Stock Exchange following reports that the company would be referred to the corporate debt restructuring (CDR) mechanism for financial restructuring of its debts. The scrip, which opened at Rs.70.10, much lower than its Rs.85.50 close Tuesday, slipped soon to Rs.68.45.
United Bank hopeful of government nod for capital restructuringMarch 1st, 2009 KOLKATA - City-based public sector lender United Bank of India (UBI) is hopeful that the government would approve its proposal to reduce equity capital by March 31, a top official said here Saturday. 'We believe the finance ministry will approve our capital restructuring proposal by the end of the current financial year,' S.C.
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