Bankruptcy

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High-yield E&P energy bonds are risky temptations

NEW YORK, Oct 31 (IFR) - Investors betting that oil prices will recover are starting to support the battered prices of high-yield bonds from exploration and production (E&P) energy companies.

Veolia, CDC to call in loans on Corsica ferry firm SNCM

PARIS, Oct 31 - French public passenger transport group Transdev, owned by Veolia and state bank CDC, is to call in loans to its France-Corsica ferry operator unit SNCM next week, it said on Friday, pushing the unit into filing for court protection from insolvency.

31 Oct 2014

SEB plans debut CoCo following investor meetings

LONDON, Oct 31 (IFR) - SEB is preparing to sell a debut contingent convertible (Coco) bond following an investor roadshow that will begin next week, according to a lead manager.

Financials, 31 Oct 2014

Bail-in of senior European bank debt not fully priced in

LONDON, Oct 31 (IFR) - The European senior bank debt market is yet to fully factor in the risk of bail-in despite an approaching deadline that will see some countries introduce burden sharing measures into local laws as early as 2015.

Financials, 31 Oct 2014

UPDATE 3-Stockton, California, workers relieved as judge ruling secures pensions

SACRAMENTO, Oct 30 - Stockton, California, employees breathed a sigh of relief on Thursday as a judge ruled the city could exit bankruptcy, leaving benefits administered by public pension giant Calpers untouched.

Harbinger cannot 'leapfrog' LightSquared creditors -U.S. judge

NEW YORK, Oct 30 - Hedge fund manager Phil Falcone's efforts to hold onto a piece of his LightSquared wireless venture took a hit on Thursday when a bankruptcy judge denied a request by his Harbinger Capital Partners to wipe out a lender group's $1.7 billion claim against a unit of the company.

Some MF Global creditors to get first payout, 3 years after bankruptcy

NEW YORK, Oct 30 - A large group of creditors of MF Global Holdings Ltd's bankrupt brokerage unit will soon receive their first payout, as $518.7 million of checks start to be mailed out on Friday, the third anniversary of the company's Chapter 11 filing.

Russian investor buys majority of Nuerburgring race track

FRANKFURT, Oct 30 - Russian investor Viktor Kharitonin has bought a majority stake in the financially troubled Nuerburgring race track in Germany, the track's administrator said on Thursday.

Calpers welcomes Stockton bankruptcy ruling, says it 'protects pension promises'

Oct 30 - The California Public Employees' Retirement System (Calpers) welcomed a ruling by a federal judge on Thursday allowing Stockton to exit bankruptcy in a plan that will not see pensions cut.

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