Bankruptcy

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UPDATE 1-Puerto Rico's Prepa to miss restructuring deadline - official

NEW YORK, Feb 27 - Puerto Rico's debt-laden power authority, Prepa, said on Friday that it will hold off on presenting a restructuring plan as it tries to secure an extension of an agreement from creditors not to foreclose on its $9 billion in debt.

Puerto Rico's Prepa to miss restructuring deadline - official

NEW YORK, Feb 27 - Puerto rico's debt-laden power authority, Prepa, said on Friday that it will hold off on presenting a restructuring plan to creditors as it continues to negotiate an extension of forbearance agreements with bondholders and lenders.

Bonds, Markets 27 Feb 2015

UPDATE 1-Billionaire Rennert, firm must pay $118 mln for looting company -jury

NEW YORK, Feb 27 - Billionaire Ira Rennert and his investment firm were ordered on Friday to pay $118.2 million after being found liable for looting a magnesium company to build one of the most expensive mansions in America.

Financials 27 Feb 2015

Billionaire Rennert, firm must pay $118 mln for looting company -jury

NEW YORK, Feb 27 - Billionaire Ira Rennert and his investment firm were ordered on Friday to pay more than $118 million after being found liable for looting a magnesium company to build one of the most expensive mansions in America.

Financials 27 Feb 2015

UPDATE 1-China's Shandong calls in African Minerals debt

* African Minerals battered by Ebola, iron price rout (Adds information about the injunction)

27 Feb 2015

China's Shandong takes control of African Minerals debt

London Feb 27 - African Minerals said on Friday its Chinese partner in the Tonkolili iron ore project in Sierra Leone, has taken on some of its multi-million dollar debt and is demanding repayment.

27 Feb 2015

BRIEF-African Minerals updates on legal proceedings in Sierra Leone

* Notified that lenders of $250 mln pre-export finance facility yesterday transferred interests in PXF facility to Shandong Steel Hong Kong Zengli Limited

27 Feb 2015

Fitch: U.S. Personal Bankruptcies Set for Fifth Straight Annual Decline

(The following statement was released by the rating agency) Link to Fitch Ratings' Report: Personal Bankruptcy Filings Primed for Fifth Straight Annual Decline http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=862227 NEW YORK, February 27 (Fitch) Annual U.S. personal bankruptcy filings are set for a fifth straight drop, though the rate of decline figures to level off over time as lending guidelines become more lax, according to Fitch Ratings in a new report. Fitch projec

27 Feb 2015

REFILE-Priced-out Yankee issuers to reload after dire start

LONDON, Feb 27 (IFR) - European companies that ditched the dollar market in favour of their home turf this year may soon return thanks to an improving cross-currency swap and a recovery in spreads.

Financials, 27 Feb 2015

Brazil judge who drove Batista's seized Porsche taken off case

RIO DE JANEIRO, Feb 27 - Brazil's judicial obmudswoman has removed the judge presiding over the criminal proceedings against entrepreneur Eike Batista citing media reports that he had been driving one of the fallen tycoon's seized automobiles.

27 Feb 2015

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