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Messy situation as Argentina debt default looms

LONDON, July 29 (IFR) - Argentina will find itself in its second default of the 2000s on Thursday unless a last-minute deal is reached with holdout creditors who have rejected a debt restructuring deal.

UPDATE 1-Critical Detroit bankruptcy hearing delayed by one week

(Add details of new hearing schedule, background on Syncora's request, Detroit's plan)

Start of key Detroit bankruptcy hearing delayed by one week

July 29 - The start of a critical hearing on Detroit's plan to adjust $18 billion of debt and exit bankruptcy will be delayed by one week to Aug. 21, a federal judge ruled on Tuesday.

Pending settlements stall appeals of Detroit bankruptcy ruling

July 29 - Detroit has been making progress in settling disputes with its public safety unions, a development that has put the brakes on several appeals in federal court of a ruling that the city was eligible for municipal bankruptcy, attorneys said on Tuesday.

As Argentina stares down deadline, one group will make default call

July 29 - As Argentina's options run out as the clock ticks down to the deadline before a default, attention is turning to the committee that makes the "official" call on such matters - even though that call is really only for the benefit of those investors who bought insurance in case of non-payment.

BES bondholders eye results for guidance on potential losses

* Senior debt at risk if losses are greater than expected

Luxembourg court accepts ESFG, Rio Forte creditor protection claims

BRUSSELS, July 29 - A Luxembourg court on Tuesday accepted requests for creditor protection filed earlier by Espirito Santo Financial Group (EFSG) and Rio Forte Investments, holding companies of Portugal's troubled Espirito Santo family.

Financials 7:11am EDT

Bank of Portugal says BES loss can be remedied by capital hike

LISBON, July 28 - Portugal's central bank said late on Monday that if Banco Espirito Santo posts a loss larger than its existing capital cushion of 2.1 billion euros ($2.8 billion), a capital increase will be used to guarantee adequate solvency levels.

Financials 28 Jul 2014

Hold-out creditor argues for dismissal of Detroit bankruptcy case

WASHINGTON, July 28 - One of the biggest hold-out creditors in Detroit's bankruptcy will argue next month for a dismissal of the historic case to lead to more equitable treatment of all the city's creditors, according to a report obtained by Reuters on Monday.

RPM reaches $797.5 million deal to resolve Bondex asbestos claims

July 28 - Rust-Oleum paint maker RPM International Inc on Monday announced a $797.5 million deal to resolve asbestos claims against its Bondex International Inc unit, which filed for protection from creditors in 2010 after mounting personal injury lawsuits.

Stocks, Bonds, Markets, 28 Jul 2014

Is U.S. economic patriotism hurting?

Any Americans believing that their country is being bought up by the Chinese might want to think again, according to the Vale Columbia Center on Sustainable International Investment.


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