Thu May 16, 2013 11:15am EDT May 16 (Reuters) – A financial recovery plan released on Monday by a state-appointed emergency manager running Detroit has negative consequences for the city’s bondholders, Moody’s Investors Service said on Thursday.”The plan is negative Read more »
Tag Archives: Reuters
Ally, ResCap creditors race to finalize settlement
Tue May 14, 2013 9:20am EDT May 14 (Reuters) – Ally Financial Inc must sign a deal to resolve claims that it owes billions of dollars to creditors of its Residential Capital LLC unit by 11 a.m. EDT Tuesday (1500 Read more »
BRIEF-Ally, Rescap creditors reach settlement in principle – ResCap’s CRO
Thomson Reuters is the world’s largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and Read more »
Commerzbank mulls platform to operate seized ships with partners
FRANKFURT | Tue May 14, 2013 11:48am EDT FRANKFURT May 14 (Reuters) – Commerzbank, Germany’s second-biggest lender, said it is considering launching a platform to operate ships in a bid to recover higher values from the vessels that it seizes Read more »
Ally, ResCap creditors reach settlement
Tue May 14, 2013 11:56am EDT May 14 (Reuters) – Bankrupt Residential Capital LLC said on Tuesday that parent Ally Financial Inc reached a private settlement with ResCap creditors, who say Ally owes them $25 billion.The deal will keep sealed Read more »
Bulgaria resumes sale of ailing arms plant
SOFIA | Tue May 14, 2013 12:04pm EDT SOFIA May 14 (Reuters) – Bulgaria on Tuesday resumed the sale of state-owned arms maker VMZ Sopot, aiming to attract a strategic investor to overhaul the debt-laden plant and funds for the Read more »
UPDATE 1-Ally reaches deal with ResCap creditors
Tue May 14, 2013 12:32pm EDT * Deal allows Ally to shed links to mortgage lending * Settlement details likely next week * Examiner’s report remains sealed until May 23 By Nick Brown and Tom Hals May 14 (Reuters) – Read more »
California cities to remain ‘fiscally challenged’-Moody’s
WASHINGTON | Tue May 14, 2013 12:48pm EDT WASHINGTON May 14 (Reuters) – Many California cities are showing signs of improvement, but limits on raising revenues, swelling pension costs and other pressures will leave them “fiscally challenged over the next Read more »
Ropes Settles Age Discrimination Suit With Ex-Partner
Ropes & Gray has settled a two-year-old discrimination lawsuit brought by former partner Patricia Martone, who claimed Ropes management routinely passed her clients off to younger male partners and unfairly pushed her out of the firm.In a one-page stipulation filed Read more »