Daily Archives: March 28, 2016

Muni-Bond Funds Burned Chasing Yield With Wood-Pellet Bankruptcy – Bloomberg

GamblingBy Insolvency Guardian March 28, 2016

Wood pellets are made to be burned. It turns out a Louisiana facility that was built to make the pieces for power plants is doing the same to municipal-bond investors. Invesco Ltd., Waddell & Reed Financial Inc. and AllianceBernstein Holding LP are among buyers left in limbo after Louisiana Pellets Inc., a subsidiary of the…

Abengoa Wins Reprieve in Debt Talks to Avert Insolvency Process – Bloomberg

BankruptcyBy Insolvency Guardian March 28, 2016

Abengoa SA won support from creditors to allow more time to approve a 9.4 billion-euro ($10.5 billion) debt restructuring and avoid insolvency. More than 75 percent of the companys lenders agreed to continue talks for as much as seven months, Seville-based Abengoa said in a regulatory filing Monday. The support from creditors is higher than…

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