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Zombie companies
In zombie films, the dead walk the earth and slowly annihilate the living. Such a frightening prospect may be in store for Europe, the Reuters Restructuring Summit was told. Banks are one of the big...
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Ukraine’s Naftogaz leaves Eurobond holders with little choice
The repayment date for Ukrainian state energy group Naftogaz's $500 million Eurobond came and went on Wednesday, but all bondholders got was a coupon payment. Talks to restructure the five-year bond...
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Diamonds in the rough
Somewhere out there are ailing companies in need of a turnaround specialist. These experts — also known as company doctors — parachute into troubled businesses to turn their business around. Funds,...
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Under pressure
Restructuring a company’s finances usually means someone takes a loss. But who should take that loss is often a difficult and nerve-jangling process. Brinkmanship is the usual tactic with hard...
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Icahn takes a shot at CIT “Tammany Hall” financing
As if CIT didn’t have enough problems digging itself out of a credit morass, now it has Carl Icahn to contend with. Troubled by what he sees as sweetheart deals between CIT and its largest creditors,...
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Die Hard (with a vengeance)
American actor Bruce Willis is probably best known as the all-action hero in the Die Hard films, fighting evil-doers against all the odds. But in France, Willis looks to be a new shareholder in French...
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Lenders quiet on Yell support
For Yell, the publisher of Britain’s Yellow Pages directories, there is a world of difference between 90 and 95 percent. The lower figure is the amount of lenders backing its debt financing plan, the...
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Noted: 5-year funk means no office firesales
Despite a looming wave of defaults, sell-offs of European offices at knock-down prices are unlikely, because commercial property prices are likely to tread water for years, rating agency Moody’s says....
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Battered car-makers rounding blind corner
(Update: This piece was written, as several commenters have pointed out, before GM clinched a sale of Saab to Spyker on January 26.) By Quentin Carruthers (Acquisitions Monthly) Automakers face a...
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British Petroleum is bidding on a package of Devon Energy assets that the US energy company put up for sale late last year, sources familiar with the matter told Reuters. The company is looking at...
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