UPDATE 1-Bidder for Atlantic City's Revel to contest auction if he loses

Mon Sep 29, 2014 7:03pm EDT (Adds comment from White & Case attorney in paragraphs five and six) By Tom Hals Sept 29 (Reuters) - The Florida developer who entered the first bid in an auction for Atlantic City,...

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BRIEF-Pinnacle Point Group says company remains in final liquidation

Sept 30 Tue Sep 30, 2014 1:25am EDT * Shareholders are advised that there is no change to company's financial circumstances and it remains in final liquidation* Shareholders should continue to exercise caution when dealing in company's securities...

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BRIEF-Ububele Holdings says meeting to consider rescue plan on Oct 10

Sept 30 Tue Sep 30, 2014 3:06am EDT * Purpose of meeting will be to consider and, if deemed fit, to pass Ububele's proposed business rescue plan* Meetings to consider business rescue plans of Ububele subsidiaries will be held on 9 and 10 October 2014...

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Fosun ups bid for Portugal's Espirito Santo healthcare unit

Sat Sep 27, 2014 6:44am EDT * Fosun ups bit to 4.82 euros/shr or 460.5 mln euros in total * Regulator CMVM also extends rival Grupo Angeles offer * ESS shares closed on Friday at 4.87 euros By Andrei Khalip ...

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Dubai Amlak's shareholders agree $572 mln convertible issue

DUBAI, Sept 28 Sun Sep 28, 2014 10:52am EDT DUBAI, Sept 28 (Reuters) - Shareholders of Dubai's Amlak Finance have approved the issuance of a sharia-compliant instrument convertible into its stock worth up to 2.1 billion dirhams ($571.8 million), a...

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UPDATE 1-Dubai Amlak's shareholders back debt restructuring

Sun Sep 28, 2014 11:45am EDT * First shareholder meeting since mid-2008 * Back 2.1 bln dirham convertible key to debt restructuring (Adds detail, quotes, context) By Nadia Saleem DUBAI, Sept 28 (Reuters) - Shareholders...

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Regulatory threat drives insurers into sub bond market

Fri Sep 26, 2014 12:17pm EDT * Grandfathering provision increases September bond sales * Insurance capital to borrow riskier elements from bank CoCos * Market sell-off presents obstacles for latecomers By Aimee...

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Michigan OK's bonds to fund Detroit's bankruptcy plan

Sept 26 Fri Sep 26, 2014 1:55pm EDT Sept 26 (Reuters) - Michigan officials on Friday signed off on four bond issues totaling $1.1 billion that would fund Detroit's exit from the biggest-ever municipal bankruptcy. The...

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STXNEWS LATAM-Unit of Brazil's OSX gets approval to stop payments

Fri Sep 26, 2014 7:29pm EDT OSX WHP 1&2, a Netherlands unit of bankrupt Brazilian shipbuilder OSX Brasil SA, received final approval from a Dutch court to suspend payments to creditors until January 2016, OSX said in an e-mailed statement. OSX...

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Detroit council, mayor approve deal to restore their powers

DETROIT, Sept 25 Thu Sep 25, 2014 6:19pm EDT DETROIT, Sept 25 (Reuters) - The Detroit City Council on Thursday unanimously approved a resolution that will keep a state-appointed emergency manager in control of the city's bankruptcy case, while returning...

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UPDATE 1-Detroit council, mayor approve deal to restore their powers

Thu Sep 25, 2014 8:06pm EDT (Recasts with city council vote to restore control of city to elected officials, keep emergency manager in control of bankruptcy case, statement from Michigan governor) By Lisa Lambert ...

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BRIEF-Court discontinues bankruptcy proceedings against Europejski Fundusz Hipoteczny

Sept 26 Fri Sep 26, 2014 2:32am EDT * Said on Thursday that following withdrawal of all applications for the company's bankruptcy with liquidation filed by Tomasz Kaplanowski, Eleni Wrobel, Roman Blaszczuk and BDO sp. z o.o. as well as the company's...

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Carmaker NEVS lays off staff as Saab plant stays idle

STOCKHOLM, Sept 24 Wed Sep 24, 2014 11:08am EDT STOCKHOLM, Sept 24 (Reuters) - Cash-strapped China's National Electric Vehicle Sweden (NEVS) said on Wednesday it would lay off up to 200 staff at its Saab car plant in Sweden...

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U.S. Treasury denies allowing 'excessive' executive pay at GM, Ally

By Paul Lienert and Bernie Woodall DETROIT, Sept 24 Wed Sep 24, 2014 12:00pm EDT DETROIT, Sept 24 (Reuters) - The U.S. Treasury last year permitted top executives at General Motors Co and Ally Financial Inc to collect...

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Auction for Atlantic City's Revel casino adjourned until Tuesday

By Tom Hals Sept 24 Wed Sep 24, 2014 4:42pm EDT Sept 24 (Reuters) - Atlantic City, New Jersey, will have to wait until next week to learn who will emerge as the next owner of the shuttered Revel casino hotel, a sleek...

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BRIEF-Miranda Mineral says JSE to suspend trade in company shares

Sept 23 Tue Sep 23, 2014 7:29am EDT * Board is considering various options, including, but not limited to, business rescue proceedings* Shareholders are further advised of resignation of John Wallington as director of company effective 22 September...

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New blow for Eco City as Mercedes terminates distributor deal

LONDON, Sept 23 Tue Sep 23, 2014 2:32pm EDT LONDON, Sept 23 (Reuters) - Eco City Vehicles said Mercedes-Benz had terminated a financing and trading deal making the British firm the sole distributor of the Mercedes Vito...

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Atlantic City's Revel casino heads to sale as late bids emerge

By Tom Hals Sept 23 Tue Sep 23, 2014 7:08pm EDT Sept 23 (Reuters) - At least two last-minute bids were received on Tuesday for Atlantic City's Revel casino, which closed this month, setting up an auction to challenge...

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UPDATE 3-UK's EE to buy 58 stores from Phones 4u for 2.5 mln stg

Mon Sep 22, 2014 7:56pm EDT (Adds Dixons interest to buy 50 to 100 Phones 4u stores) LONDON, Sept 22 (Reuters) - Britain's biggest mobile operator EE has agreed to buy 58 stores from retailer Phones 4u for 2.5 million...

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PRESS DIGEST- British Business - Sept 23

Sept 23 Mon Sep 22, 2014 8:35pm EDT Sept 23 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The...

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Fitch: What Investors Need to Know - Indonesia's Insolvency Regime

Mon Sep 22, 2014 11:00pm EDT (The following statement was released by the rating agency) Link to Fitch Ratings' Report: What Investors Need to Know - Indonesia's Insolvency Regime here SINGAPORE/SYDNEY, September 22 (Fitch) Indonesia has established...

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UK's EE agrees to buy 58 stores from Phones 4u

LONDON, Sept 22 Mon Sep 22, 2014 2:49am EDT LONDON, Sept 22 (Reuters) - Britain's biggest mobile operator EE said on Monday it had agreed to buy 58 stores from retailer Phones 4u, which was placed in administration a week ago.Last week, rival mobile...

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BRIEF-Phones 4U says EE has agreed upon deal to acquire 58 stores

Sept 22 Mon Sep 22, 2014 3:40am EDT * Phones 4u administrators can confirm that a deal has been agreed with EE which will see mobile network firm pay £2,500,000 to acquire 58 Phones 4U Limited stores* Transaction includes Phones 4U Limited's interest...

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UPDATE 1-UK's EE to buy 58 stores from Phones 4u for 2.5 mln stg

Mon Sep 22, 2014 4:01am EDT (Adds details, administrator statement) LONDON, Sept 22 (Reuters) - Britain's biggest mobile operator EE has agreed to buy 58 stores from retailer Phones 4u for 2.5 million pounds (4 million...

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Phones 4U says Vodafone will take 140 of its stores

LONDON, Sept 19 Fri Sep 19, 2014 1:57pm EDT LONDON, Sept 19 (Reuters) - Phones 4U's administrators PwC said Vodafone UK had agreed to take on 140 of its stores on Friday, saving 887 jobs, while a further 628 staff will be made redundant.The mobile...

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UPDATE 2-Detroit council approves regional water authority deal

Fri Sep 19, 2014 2:50pm EDT (Adds council member comments, Syncora deal, details of authority) By Lisa Lambert DETROIT, Sept 19 (Reuters) - The Detroit City Council on Friday approved the creation of a regional water...

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Bankruptcy most likely scenario for indebted Mechel-economy minister

SOCHI, Russia, Sept 20 Sat Sep 20, 2014 7:04am EDT SOCHI, Russia, Sept 20 (Reuters) - Russian Economy Minister Alexei Ulyukayev said on Saturday that bankruptcy was the most likely scenario for the over-indebted steelmaker...

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Detroit council approves regional water authority deal

DETROIT, Sept 19 Fri Sep 19, 2014 12:43pm EDT DETROIT, Sept 19 (Reuters) - The Detroit city council on Friday approved in a 7-2 vote the creation of a regional water authority, moving forward an integral part of the city's plan to exit the biggest-ever...

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Phones 4U says Vodafone will take 140 of its stores

LONDON, Sept 19 Fri Sep 19, 2014 1:57pm EDT LONDON, Sept 19 (Reuters) - Phones 4U's administrators PwC said Vodafone UK had agreed to take on 140 of its stores on Friday, saving 887 jobs, while a further 628 staff will be made redundant.The mobile...

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UPDATE 2-Detroit council approves regional water authority deal

Fri Sep 19, 2014 2:50pm EDT (Adds council member comments, Syncora deal, details of authority) By Lisa Lambert DETROIT, Sept 19 (Reuters) - The Detroit City Council on Friday approved the creation of a regional water...

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PRESS DIGEST- Financial Times - Sept 19

Sept 19 Thu Sep 18, 2014 8:39pm EDT Sept 19 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.Headlines EGON ZEHNDER AIMS FOR BOARDROOM REVOLUTION TO...

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Swiss begin bankruptcy proceedings against Espirito Santo private bank

ZURICH, Sept 19 Fri Sep 19, 2014 4:18am EDT ZURICH, Sept 19 (Reuters) - Switzerland's financial regulator said on Friday it had initiated bankruptcy proceedings against a Swiss private bank that is part of the Espirito Santo family's troubled business...

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UPDATE 1-Swiss begin bankruptcy proceedings against Espirito Santo private bank

Fri Sep 19, 2014 5:33am EDT (Adds detail) ZURICH, Sept 19 (Reuters) - Switzerland's financial regulator, FINMA, said on Friday it had initiated bankruptcy proceedings against Banque Privee Espirito Santo SA (BPES), part...

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Veteran bankruptcy lawyer Cieri to retire from Kirkland -sources

By Nick Brown and Casey Sullivan NEW YORK, Sept 17 Wed Sep 17, 2014 9:29pm EDT NEW YORK, Sept 17 (Reuters) - Attorney Richard Cieri, a bankruptcy veteran who helps run law firm Kirkland & Ellis' pre-eminent restructuring...

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Michigan board approves $450 mln bond sale for Detroit hockey arena

Sept 17 Wed Sep 17, 2014 3:41pm EDT Sept 17 (Reuters) - The Michigan Strategic Fund board gave final approval on Wednesday for the sale of up to $450 million of 30-year revenue bonds for a downtown Detroit arena that will...

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UPDATE 1-Michigan board OKs $450 mln Detroit hockey arena bonds

Wed Sep 17, 2014 6:35pm EDT (Adds details about swaps) Sept 17 (Reuters) - The Michigan Strategic Fund board gave final approval on Wednesday for the sale of up to $450 million of 30-year revenue bonds for a downtown...

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Bankrupt Energy Future to offer auction plan amid bidding war

By Tom Hals WILMINGTON, Del., Sept 16 Tue Sep 16, 2014 2:05pm EDT WILMINGTON, Del., Sept 16 (Reuters) - Texas's biggest power company, the bankrupt Energy Future Holdings, will soon present plans to auction its majority...

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Court's expert witness on Detroit bankruptcy qualified to testify -judge

By Lisa Lambert DETROIT, Sept 16 Tue Sep 16, 2014 5:55pm EDT DETROIT, Sept 16 (Reuters) - An expert witness hand-picked by the federal judge overseeing Detroit's historic bankruptcy case will testify on the feasibility...

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U.S. Steel's Canadian unit to file for creditor protection

By Devika Krishna Kumar Sept 16 Tue Sep 16, 2014 8:50pm EDT Sept 16 (Reuters) - United States Steel Corp said its Canadian arm would apply for relief from creditors under Canada's Companies' Creditors Arrangement Act...

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Nordea tests interest for Sweden's first CoCo bond

By Aimee Donnellan Tue Sep 16, 2014 3:57am EDT LONDON, Sept 16 (IFR) - Nordea has begun marketing a dual-tranche Additional Tier 1 bond, the first deal in the format from Sweden.The bank has set initial price thoughts on a perpetual non-call five-year...

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German property firm IVG says insolvency over, eyes listing

FRANKFURT, Sept 16 Tue Sep 16, 2014 4:29am EDT FRANKFURT, Sept 16 (Reuters) - German property group IVG Immobilien has emerged from insolvency following a sweeping restructuring and a debt-for-equity swap and is now considering...

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UPDATE 1-Nordea emerges with Sweden's first CoCo

Tue Sep 16, 2014 4:53am EDT (Adds background and quotes) By Aimee Donnellan LONDON, Sept 16 (IFR) - Nordea has pulled the trigger on Sweden's first contingent capital bond as it seeks to meet new regulatory requirements...

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