May 11, 2016 4:40 p.m. ET Chaparral Energy Inc. is very close to a restructuring deal that will wipe $1.2 billion in debt from its balance sheet, said Richard Levy, lawyer for the Oklahoma oil and gas producer. Speaking at the companys bankruptcy-court debut Wednesday, Mr. Levy said unsecured bondholders have agreed to swap out…
Sen. Lindsey Graham (R-SC) speaks with reporters before a weekly policy meeting with Senate Republicans, at the U.S. Capitol, May 10, 2016, in Washington, DC.(Photo: Drew Angerer, Getty Images) WASHINGTON Having already promised not to vote for either Hillary Clinton or Donald Trump in the November election, Sen. Lindsey Graham made a politically neutral offer on…
ROSEMONT, Ill.–(BUSINESS WIRE)–Comdisco Holding Company, Inc. (OTCQB: CDCO) and (OTCQB: CDCOR) (Comdisco) today reported financial results for its fiscal second quarter ended March 31, 2016. Comdisco emerged from Chapter 11 bankruptcy proceedings on August 12, 2002. Under Comdiscos First Amended Joint Plan of Reorganization (the Plan), Comdisco was charged with, and has been, liquidating its…
Thursday, May 12, 2016 Hexi Pharma Co. SRL, a Romanian pharmaceutical company involved in a recent scandal of faulty hospital disinfectants, has filed for insolvency with the Bucharest Tribunal. According to the courts’ web portal, the application was filed on Tuesday and it regards bankruptcy upon debtor’s request under Article 66 of Law 85/2004 on…
Under the bankruptcy bill, a debtor could be jailed for five years for concealing property or defrauding creditors. (File Photo) New Delhi: The Rajya Sabha passed a new bankruptcy code on Wednesday, as the opposition swung behind measures to take tougher action against corporate defaulters and help banks recover nearly 8 lakh crore in troubled…
Last Modified: Thu, May 12 2016. 01 06 AM IST Rajya Sabha passes Insolvency and Bankruptcy Code 2016; implementation will be the key, say analysts The Rajya Sabha on Wednesday passed the Insolvency and Bankruptcy Code 2016, a vital reform that will make it much easier to do business in India. Once the President…
WASHINGTON — House lawmakers on Wednesday again delayed the release of legislation to help Puerto Rico restructure its $70 billion in debt. Rep. Rob Bishop (R-Utah), who chairs the House Committee on Natural Resources, had anticipated that the third draft of the bill would be ready Wednesday. But it became clear early in the day…
The Greek debt crisis is the crisis that never stops giving. More than six years have now passed since the crisis broke, and the country is still struggling to get its finances under control. In the latest installment, Greek lawmakers agreed early Monday morning to a new set of pension and tax reforms. Unfortunately, the…
NEW DELHI The Rajya Sabha passed a new bankruptcy code on Wednesday, as the opposition swung behind measures to take tougher action against corporate defaulters and help banks recover over $120 billion in troubled loans. Prime Minister Narendra Modi, who completes two years in office this month, had promised to introduce the code to address…
There is no good alternative to helping the Greeks in the task before them, writes Mark Mazower ©AP Alexis Tsipras, Greece’s prime minister, in parliament in Athens last week Greeces parliament this week approved reforms to the countrys creaking pensions and tax system by a larger margin than had been anticipated. But significant differences remain,…