Bankruptcy

Treveria and Hatfield clash over defaulted German loan

LONDON, May 17 (IFR) - Special servicer Hatfield Philips has sought to reassure investors in the Talisman-6 CMBS worried about the future of the EUR360.4m Orange Loan, which has been in default since July 2012.

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Bankrupt Alabama county names new top lawyer

BIRMINGHAM, Ala., May 16 - Alabama's bankrupt Jefferson County on Thursday hired a new top, in-house attorney as officials put finishing touches on an exit plan meant to end America's biggest ever municipal bankruptcy.

Bonds, Regulatory News, 16 May 2013

UPDATE 1-Detroit recovery plan raises specter of default -Moody's

May 16 - Detroit's bondholders face a heightened chance of default or bankruptcy by the city under a financial recovery plan released on Monday by a state-appointed emergency manager running the city, Moody's Investors Service said on Thursday.

16 May 2013

Detroit recovery plan a negative for bondholders-Moody's

May 16 - 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.

16 May 2013

PRESS DIGEST - Wall Street Journal - May 16

May 16 - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

Bonds, Regulatory News, 16 May 2013

Hong Kong April bankruptcy petitions rise 2.6 pct from March

HONG KONG, May 16 - Following are monthly bankruptcy statistics provided by the government: Pct Change Pct Change No. of April M/M Y/Y Jan-Apr Y/Y Bankruptcy petitions 815 2.64 21.10 3,010 10.50 Bankruptcy orders 927 35.92 20.39 3,126 18.63 Hong Kong's economy grew a seasonally adjusted 0.2 percent in the first quarter ended March over the previous three months than

16 May 2013

Suntech lenders agree to defer $541 mln bond repayment again

May 15 - China-based solar panel maker Suntech Power Holdings Co Ltd, whose main unit is in insolvency proceedings, said it reached an agreement with some lenders to further defer its obligations on a $541 million loan.

Bonds, Regulatory News, 15 May 2013

UPDATE 2-California cities to remain 'fiscally challenged' -Moody's

WASHINGTON, May 14 - Many California cities will remain fiscally challenged over the next few years due to limits on raising revenues and demands for pensions and other spending, Moody's Investors Service said on Tuesday.

14 May 2013

UPDATE 1-Bankrupt Alabama county has deal on $105 mln of bonds

* County says bonds will shift to fixed-rate from variable

Bonds, Regulatory News, 14 May 2013

Detroit Mayor Bing will not run for reelection in crisis-hit city

DETROIT, May 14 - Detroit Mayor Dave Bing, who has lost most of his authority to an emergency manager appointed by the state, said on Tuesday that he will not seek reelection, and accused Michigan, the media and political pundits of unfairly denigrating the city.

14 May 2013
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