New York Post (Free subscription) | 11/26/2009
The senior lender behind Trump Entertainment Resorts Inc. opposes a deal Donald Trump and his daughter Ivanka made with other creditors to end the bankruptcy of the casino company named for the celebrity investor. Beal Bank had been working with T...
Reuters (Free subscription) | 2 hours ago
... of the approximately $870 million in notes issued by the company.The new plan proposes that lenders and a senior class of noteholders be paid in full, either with cash or reinstatement of debt.The noteholders who proposed the plan will receive up to 81 percent of the reorganized company's stock. That compares with the company's current plan that proposes giving them less than 5 percent...
Business Wire (Free subscription) | 11/25/2009
NEWTON, Mass.--(BUSINESS WIRE)--Questex Media Group Holdings, Inc. announced today that the U.S. Bankruptcy Court for the District of Delaware has approved the sale of Questex’s assets to a group of its senior lenders. The sale brings Questex to the final step in the company’s balance sheet restructuring process, which will reduce the company’s overall indebtedness and...
Paidcontent (Free subscription) | 11/25/2009
... extension so it could come up with a reorg plan to emerge from Chapter 11 by the end of May. Senior creditors argue that as the year-anniversary of Tribune’s bankruptcy filing approaching, Zell and his team have had more than enough time to come up with program to structure the company.
Chicago Tribune (Free subscription) | 11/25/2009
A large group of prominent investment funds sought to wrest control of the Tribune Co. bankruptcy case Tuesday in a move that threatens to intensify an already pitched battle between senior and junior creditors.
The Philadelphia Business Journal (Free subscription) | 11/23/2009
InfoLogix Inc. said late Friday night it has restructured its debt with its senior lender, Hercules Technology Growth Capital Inc., in a move that it thinks brings it back into compliance with the NASDAQ’s requirement for minimum stockholders’ equity. (IFLG) (HGTC)
Reverse Mortgage Daily (Free subscription) | 11/23/2009
... to the closing process. “I am looking forward to continuing the Equitas tradition of guiding seniors and lenders through the reverse mortgage process. Under the leadership of Rob Cannon, Equitas was able to grow and serve thousands of seniors with reverse mortgages. We will continue the mission of making the reverse mortgage closing a positive experience for seniors...
Editor And Publisher (Free subscription) | 11/23/2009
... period to Jan. 31, 2010, or 30 days after a crucial appeals court ruling, whichever comes later. Senior lenders, including Citizens Bank, CIT Group and Angelo, Gordon & Co., want to use the $318 million in debt they are owed to bid on the newspapers and Philly.com at auction. But earlier this month, a federal judge ruled that they could not engage in so-called "credit bidding" --...
Law Blog - WSJ.com (Free subscription) | 11/22/2009
... of creditor support."The deal could upend a restructuring plan that would hand Lyondell Basell to senior lenders in exchange for canceling much of their debt. That plan includes a $2.5 billion rights offering to take the company out of bankruptcy, led by private-investment firms that include Apollo Management, Ares Management and Kohlberg Kravis Roberts & Co.LyondellBasell called...
