Bankruptcy

Federal court asked to suspend Detroit bankruptcy appeals

July 31 - A federal court was asked on Thursday to suspend seven pending appeals over Detroit's eligibility for bankruptcy until the city concludes a confirmation process for its plan to adjust $18 billion of debt.

UPDATE 1-ISDA agrees to consider credit event on Argentina CDS

NEW YORK, July 31 (IFR) - The International Swaps and Derivatives Association (ISDA) has agreed to consider whether a credit event has occurred on Argentina's credit default swap contracts (CDS), according to its website.

Bonds, Regulatory News, 31 Jul 2014

ISDA asked to consider credit event on Argentina CDS

NEW YORK, July 31 (IFR) - The International Swaps and Derivatives Association has received its first request to consider whether a credit event has occurred on Argentina's credit default swap contracts (CDS), according to the ISDA website.

Bonds, Regulatory News 31 Jul 2014

Argentina bonds drop, CDS widens in wake of default-traders

NEW YORK, July 31 (IFR) - Argentine five-year protection widened over 500bp Thursday while the sovereign's bonds dropped around seven points following its default.

Bonds, Regulatory News, 31 Jul 2014

BNY confirms still holding Argentina bond monies

NEW YORK, July 31 (IFR) - Bank of New York Mellon (BNY) sent a formal letter Thursday to holders of Argentina's exchange bonds essentially confirming that the sovereign had defaulted.

Bonds, Regulatory News, 31 Jul 2014

CORRECTED-UPDATE 3-BES seeks capital as key staff suspended after massive losses

(Corrects in seventh paragraph to show losses on family loans of 1.2 bln euros, not 2.1 bln euros)

31 Jul 2014

UPDATE-Argentina 2033 bond stable after talks to avoid default collapse

LONDON, July 31 (IFR) - The price of the restructured bond on which Argentina missed an interest payment, leading the country into a technical default, was stable in early London trading.

Bonds, Regulatory News, 31 Jul 2014

Argentina credit story grows murkier as talks collapse

NEW YORK, July 30 (IFR) - Argentina's murky credit story grew even more complicated Wednesday as the US mediator said the country was headed to default after last-ditch talks with holdout creditors failed.

Bonds, Regulatory News, 31 Jul 2014

UPDATE 1-BES warns of possible legal breaches, vows to raise capital

(Recasts throughout, adds CEO comments, detail of family irregularities, capital raise)

30 Jul 2014

Detroit, Syncora fight over casino money in appeals court-report

July 30 - A federal appeals court panel heard arguments on Wednesday between Detroit and one of its last hold-out creditors over casino tax revenue, with one of the judges promising a careful consideration of the case, the Detroit News reported.

Bonds, Regulatory News, 30 Jul 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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