Bankruptcy

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Saudi's Algosaibi outlines new debt proposal to creditors

DUBAI, June 2 - Saudi Arabian family conglomerate Ahmad Hamad Algosaibi and Brothers (AHAB) is offering creditors a minimum return of 28 cents on every dollar owed under an enhanced proposal to end one of the Middle East's largest ever debt restructurings.

Macquarie Bank gives guidance for Tier 2 dollar bonds

SYDNEY, June 2 (IFR) - Macquarie Bank has announced price talk for an offering of US dollar benchmark Reg S/144A 10-year bullet Tier 2 notes to yield Treasuries plus high 200s.

Financials 01 Jun 2015

Woori Bank's AT1 bond offering expected as early as Wednesday

HONG KONG, June 2 (IFR) - Woori Bank, rated A1/A-/A-, has announced terms for its inaugural offering of Additional Tier 1 bonds, expected to come as early as tomorrow after a series of investor calls.

Financials, 01 Jun 2015

PREPA forbearance extension looking uncertain -sources

June 1 - Certain creditors of Puerto Rico's debt-laden power authority PREPA are unlikely to support extending a forbearance agreement that expires on Thursday, said a source familiar with the agency's restructuring negotiations.

Bonds, Markets, 01 Jun 2015

Bankruptcy judge scolds warring Energy Future parties

WILMINGTON, Del., June 1 - The judge overseeing the $42 billion bankruptcy of Energy Future Holdings Corp, Texas's biggest power company, scolded warring lawyers in the case on Monday for what he called their "unnecessarily expensive and counterproductive" bickering.

UPDATE 1-U.S. top court says 2nd mortgages on 'underwater' homes cannot be voided in bankruptcy

WASHINGTON, June 1 - The U.S. Supreme Court on Monday handed a win to Bank of America Corp by ruling that a second mortgage on an "underwater" home - one with a mortgage balance exceeding its current value - cannot by voided during bankruptcy.

BRIEF-Orzel shares' trading to be suspended

* Its series PLORZl000019 shares' trading to be suspended due to the voting on the company's bankruptcy arrangement

01 Jun 2015

U.S. top court says second mortgages on 'underwater' homes cannot be voided in bankruptcy

WASHINGTON, June 1 - The U.S. Supreme Court on Monday handed a win to Bank of America Corp by ruling that a second mortgage on an "underwater" home cannot by voided during bankruptcy.

BRIEF-Pinnacle Point says remains in final liquidation

* No change to company's financial circumstances and it remains in final liquidation

Financials 01 Jun 2015

UPDATE 1-Skymark's top creditor says looking for sponsor other than ANA

* Intrepid files own restructuring plan for Skymark, cuts out ANA

Industrials 01 Jun 2015

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