Suntech strikes yet another deal with bondholders

June 28 | Fri Jun 28, 2013 9:19am EDT June 28 (Reuters) - China-based solar panel maker Suntech Power Holdings Co Ltd, whose main unit is in insolvency proceedings, said it had struck a deal with a majority of its bondholders to defer payment...

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Reader's Digest publisher expects to emerge from bankruptcy by end-July

June 28 | Fri Jun 28, 2013 8:31pm EDT June 28 (Reuters) - The publisher of the Reader's Digest magazine said it expects to emerge from bankruptcy by the end of July after the bankruptcy court for the Southern District of New York approved its reorganization...

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Stockton taxpayers want bigger role in California city's bankruptcy case

By Jim Christie SAN FRANCISCO, June 28 | Fri Jun 28, 2013 9:55pm EDT SAN FRANCISCO, June 28 (Reuters) - A group of California taxpayers went to court on Friday to demand a greater role in how the city of Stockton would raise taxes to exit the...

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Reader's Digest publisher expects to emerge from bankruptcy by end-July

June 28 | Fri Jun 28, 2013 8:31pm EDT June 28 (Reuters) - The publisher of the Reader's Digest magazine said it expects to emerge from bankruptcy by the end of July after the bankruptcy court for the Southern District of New York approved its reorganization...

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Suntech strikes yet another deal with bondholders

June 28 | Fri Jun 28, 2013 9:19am EDT June 28 (Reuters) - China-based solar panel maker Suntech Power Holdings Co Ltd, whose main unit is in insolvency proceedings, said it had struck a deal with a majority of its bondholders to defer payment...

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Stockton taxpayers want bigger role in California city's bankruptcy case

By Jim Christie SAN FRANCISCO, June 28 | Fri Jun 28, 2013 9:55pm EDT SAN FRANCISCO, June 28 (Reuters) - A group of California taxpayers went to court on Friday to demand a greater role in how the city of Stockton would raise taxes to exit the...

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FCC's Alpine Holding GmbH to file for bankruptcy

VIENNA, June 27 | Thu Jun 27, 2013 9:54am EDT VIENNA, June 27 (Reuters) - Alpine Holding GbmH, the Austrian unit of Spanish construction group FCC, said it would file for bankruptcy on Friday."The management of Alpine Holding GmbH informed the supervisory...

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Bankrupt Alabama county makes another deal ahead of final plan

By Melinda Dickinson and Verna Gates BIRMINGHAM, Ala., June 27 | Thu Jun 27, 2013 3:41pm EDT BIRMINGHAM, Ala., June 27 (Reuters) - Alabama's Jefferson County on Thursday approved another negotiated settlement covering $138 million of creditors'...

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PRESS DIGEST - Wall Street Journal - June 28

June 28 | Fri Jun 28, 2013 1:01am EDT June 28 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy. * The Senate voted 68-32 to approve a sweeping...

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UPDATE 2-Ally's $2.1 bln payment to ResCap gets court's OK

Wed Jun 26, 2013 6:09pm EDT * ResCap had "unreasonably" small amount of capital -report * ResCap still needs formal plan to exit bankruptcy * Ally still owes U.S. $10 bln on $17 bln bailout loan By Nick Brown NEW YORK, June 26 (Reuters)...

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Accounting board seeks 'going concern' self-test for US firms

Wed Jun 26, 2013 6:22pm EDT * U.S. companies may have to warn of going concern risks * Few such warnings issued during global credit crisis By Dena Aubin NEW YORK, June 26 (Reuters) - U.S. companies would have to regularly assess their...

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RPT-Bank regulator could be dooming UK mutuals

Thu Jun 27, 2013 3:20am EDT * Nationwide scrambles to come up with credible plan * UK mutuals panic following Nationwide leverage order * Lack of investor appetite casts doubt on new PIB product By Aimee Donnellan LONDON, June 26...

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Kodak restructuring framework OK'd by court, will go to creditors

By Nick Brown NEW YORK, June 25 | Tue Jun 25, 2013 5:13pm EDT NEW YORK, June 25 (Reuters) - The framework of a plan by Eastman Kodak Co to restructure as a commercial imaging business was approved by a bankruptcy judge on Tuesday, bringing...

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Bankruptcy threat recedes as Atwater, California, approves budget

By Jim Christie SAN FRANCISCO, June 25 | Tue Jun 25, 2013 6:45pm EDT SAN FRANCISCO, June 25 (Reuters) - The small California city of Atwater has stepped away from the brink of bankruptcy with the approval of a budget that benefits from new...

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Once bankrupt Vallejo, California ready to approve budget

SAN FRANCISCO, June 25 | Tue Jun 25, 2013 8:21pm EDT SAN FRANCISCO, June 25 (Reuters) - Vallejo, California's leaders are poised to approve the city's second budget since it emerged from bankruptcy by endorsing a $71.2 million general fund spending...

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Canadian regulator takes Ernst & Young to task on Zungui Haixi

By Euan Rocha TORONTO, June 24 | Mon Jun 24, 2013 5:48pm EDT TORONTO, June 24 (Reuters) - Accounting firm Ernst & Young (E&Y) conducted improper audits of Chinese clothing and footwear retailer Zungui Haixi before it collapsed in 2011...

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CFTC planning to file civil lawsuit against Corzine - NYT

June 25 | Tue Jun 25, 2013 1:46am EDT June 25 (Reuters) - Federal regulators are planning a civil lawsuit against Jon Corzine over the collapse of MF Global Holdings Ltd and the commodity broker's misuse of customer money during its final days,...

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Poland - Factors to Watch on June 25

Tweet Share this Email Print Tue Jun 25, 2013 2:07am EDT Here are news stories, press reports and events to watch which may affect Poland's financial markets on Tuesday. ALL TIMES GMT (Poland: GMT + 2 hours):...

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Shipping company TMT Group files for bankruptcy

Fri Jun 21, 2013 7:31pm EDT * Company hurt by falling rates, ship seizures, debt load * Lawsuit also filed to protect detained vessels By Jonathan Stempel June 21 (Reuters) - TMT Group, a large global shipping company, has filed for bankruptcy...

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Bond insurer hires new lawyers in California bankruptcy cases

SAN FRANCISCO, June 21 | Fri Jun 21, 2013 8:08pm EDT SAN FRANCISCO, June 21 (Reuters) - Bond insurer National Public Finance Guarantee has hired a new law firm to represent it in the California municipal bankruptcy cases of San Bernardino and...

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Europe unable to break impasse on who pays when banks fail

Fri Jun 21, 2013 11:23pm EDT * EU talks end with no deal on rules to shut banks * New law could impose losses on big savers, bondholders * Germany's Schaeuble argues against flexibility in rules * France's Moscovici, EU's Barnier say...

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UPDATE 1-Detroit emergency manager launches pension corruption probe

Thu Jun 20, 2013 10:24pm EDT By Steve Neavling DETROIT, June 20 (Reuters) - Detroit Emergency Manager Kevyn Orr is ordering a joint probe into the city's two pension funds to investigate possible fraud, corruption, waste and other malfeasance....

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Hong Kong May bankruptcy petitions rise 4.8 pct from April

Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information...

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Poland - Factors to Watch on June 21

Tweet Share this Email Print Fri Jun 21, 2013 1:53am EDT Here are news stories, press reports and events to watch which may affect Poland's financial markets on Friday. ALL TIMES GMT (Poland: GMT + 2 hours):...

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Ally deal draws limited objections from ResCap creditors

By Tom Hals June 19 | Wed Jun 19, 2013 6:06pm EDT June 19 (Reuters) - Ally Financial Inc's proposed $2.1 billion agreement reached last month with creditors of its bankrupt Residential Capital LLC subsidiary cleared a key court deadline with...

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PRESS DIGEST-New York Times business news - June 20

June 20 | Thu Jun 20, 2013 1:02am EDT June 20 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. * The possibility of a bankruptcy...

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FCC's Alpine Germany files for insolvency

VIENNA, June 20 | Thu Jun 20, 2013 3:28am EDT VIENNA, June 20 (Reuters) - The German unit of FCC's Alpine Bau has filed for insolvency, following a similar move by its Austrian parent construction company on Wednesday.Alpine Bau Deutschland has operations...

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Alpine bondholders are asked to support debt package

VIENNA, June 17 | Mon Jun 17, 2013 4:25pm EDT VIENNA, June 17 (Reuters) - Bondholders in Alpine, the Austrian unit of Spanish construction group FCC, may have to take part in debt restructuring at the group, it said after talks with creditors on Monday."In...

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UPDATE 3-Detroit default, restructuring plan break new ground -Moody's

Mon Jun 17, 2013 7:18pm EDT June 17 (Reuters) - Detroit's default and debt restructuring plan are precedent-setting in the U.S. municipal market, Moody's Investors Service said on Monday, because the city is looking to bondholders, as well as...

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PRESS DIGEST-New York Times business news - June 18

June 18 | Tue Jun 18, 2013 1:14am EDT June 18 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. * The fiscal crisis in Michigan...

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