Bankruptcy

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Brazil OKs bankruptcy protection petition for Batista unit MMX Sudeste

BRASILIA, Oct 22 - A Brazilian court has approved a bankruptcy protection petition filed by MMX Sudeste Mineracao SA, an iron-ore mining company controlled by Brazilian tycoon Eike Batista, the company said on Wednesday in a securities filing.

U.S. SEC slams tycoon Wyly's bankruptcy budget as 'staggering'

Oct 22 - Texas tycoon Sam Wyly, who filed for bankruptcy this week, is trying to exhaust his fortune through exorbitant spending to impede the U.S. Securities and Exchange Commission's collection of a $198.1 million fraud claim against him, the regulator told a U.S. judge on Wednesday.

Detroit can survive after bankruptcy but large risks loom -expert

DETROIT, Oct 22 - Detroit's relatively fast move through municipal bankruptcy has resulted in costly creditor settlements and too little emphasis on fixing the city's broken operations, a restructuring expert testified in U.S. Bankruptcy Court on Wednesday.

Bonds, Markets, 1:45pm EDT

Bulgaria has to revoke Corpbank licence unless law is changed-central bank

SOFIA, Oct 22 - Bulgaria's central bank will have to revoke the licence of Corporate Commercial Bank (Corpbank) unless the Balkan country changes its laws, the central bank's spokesman told Reuters on Wednesday.

Financials, 11:46am EDT

Ireland's PTSB sells mortgage loans ahead of stress tests

Oct 22 - Irish state-owned lender Permanent Tsb (PTSB) is selling a portfolio of mostly bad mortgage loans with a gross value of 468 million euros ($594 million) ahead of European stress tests that could require it to boost its capital.

Financials 6:04am EDT

BRIEF-Permanent TSB Group says to sell Springboard's mortgage loan book

* Mortgage loan book comprises gross assets of approximately eur 468 million, eur 350 million of which are non-performing

Financials, 5:04am EDT

UPDATE 2-Apple, supplier GT strike deal to unseal info, shutter Arizona plant

Oct 21 - Apple and GT Advanced Technologies Inc struck an agreement on Tuesday that will let GT begin the shutdown of key Arizona operations, and shed some more light on why the former stock market darling abruptly filed for bankruptcy this month.

Apple, GT strike deal to unseal info, shutter Arizona plant

Oct 21 - Apple Inc and GT Advanced Technologies Inc have struck an agreement to shutter a key Arizona factory and allow the Apple supplier to explain the circumstances leading up to its abrupt bankruptcy filing, a lawyer for GT told a court on Tuesday.

UPDATE 1-Judge drops hints as Detroit bankruptcy case nears finish line

(Adds details of exit financing, revenue projections, background on case)

Stocks, Bonds, Markets, Financials 21 Oct 2014

Judge wants settlements, loan, fees in Detroit's closing arguments

DETROIT, Oct 21 - The federal judge overseeing Detroit's historic bankruptcy case wants the city to explain its settlements with creditors and its exit financing in closing arguments next week, he said on Tuesday.

Financials, Stocks, Bonds, Markets 21 Oct 2014
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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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