Bankruptcy

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Bankrupt Energy Future will soon propose auction process

Aug 27 - Energy Future Holdings, the big Texas power company that filed for bankruptcy in April, said it will present a proposal for auctioning the company after it scrapped an earlier plan to exit Chapter 11 under control of unsecured creditors.

CORRECTED (OFFICIAL)-Bankrupt Detroit offered bigger loan secured by art

(In paragraph 11, FGIC changes statement to say "billions of dollars" instead of "more than $2 billion.")

Bonds, Markets, 3:35pm EDT

UPDATE 1-PwC must face $1 bln lawsuit over MF Global advice

(Adds lawyer statement, other MF Global litigation, paragraphs 9, 13)

PwC must face $1 bln lawsuit over MF Global advice

NEW YORK, Aug 27 - A federal judge on Wednesday ordered PricewaterhouseCoopers to face a $1 billion lawsuit claiming that its bad accounting advice was a substantial cause of the October 2011 bankruptcy of MF Global Holdings Ltd, a brokerage run by former New Jersey Governor Jon Corzine.

Detroit says investor demand for water/sewer bonds is big

Aug 27 - Detroit's sale on Tuesday of nearly $1.8 billion of water and sewer bonds attracted about $7.6 billion in orders and will save the bankrupt city nearly $250 million, city officials said on Wednesday.

Bonds, Markets, 1:44pm EDT

PRESS DIGEST- New York Times business news - Aug 27

Aug 27 - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.

M&A, Markets, Stocks, Earnings, Media 12:55am EDT

Detroit's $1.8 bln refunding bonds priced in muni market

Aug 26 - Detroit completed the pricing on Tuesday of $1.8 billion of water and sewer refinancing bonds related to a tender offer aimed at dealing with a big chunk of the bankrupt city's debt.

Bonds, Markets, 26 Aug 2014

U.S. bankruptcy judge sides with Momentive, rejects creditor objections

Aug 26 - A judge on Tuesday approved the bulk of Momentive Performance Materials' bankruptcy exit plan, rejecting creditor objections and pushing the quartz and silicone maker a step closer to cutting its debt by $3 billion.

Stocks, Bonds, Markets, Financials 26 Aug 2014

With Lady Luck no longer at its side, Revel casino details closure plan

Aug 26 - As hopes for a last-minute buyer dim, Atlantic City's Revel casino has laid out its closure plans, from disposing of opened bottles of alcohol to cashing unredeemed poker chips.

Detroit, hold-out creditors must go to bankruptcy mediation -judge

Aug 26 - Detroit and its major hold-out creditors were ordered on Tuesday into mediation, just a week before a key federal court hearing is to start in the city's historic bankruptcy case.

Bonds, Markets, Stocks, Financials 26 Aug 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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