Distressed

Bankruptcy Claims Trading Up 54% in December

SecondMarket began tracking 21 new cases in December with cumulative liabilities of over $4.1 billion...

Simplifying Cross-Border Insolvency

A case coming before the U.K. Supreme Court in May could make it easier for U.S. creditors to recover offshore assets of insolvent companies...

Mohegan Exchange Better Than Expected

On Tuesday, the casino operator announced a dollar-for-dollar exchange of its outstanding debt for notes with a higher coupon and longer maturities...

Cantor Expands HY, Research Groups

The New York firm added two managing directors to its high yield group and two to its research group...

Petroplus Bankruptcy Spurs Fraud Probe

The oil refiner's French subsidiary is under investigation by authorities for a transfer of funds prior to its filing...

CIT Continues Buy Back Effort with $500M Redemption

This brings the firm's total of first- and second-lien debt cut or refinanced to $18 billion since the start of 2010...

Kodak Secures $950M DIP as it Files Ch. 11

The company has more than $6.7 billion in outstanding debt and expects to complete its financing sometime in 2013...

Trailer Bridge Files Reorg Plan

The company's senior secured bondholders will get $65 million in debt and a 91% stake in the reorganized company...

Trading Leaders Depart Citigroup

The bank's heads of high yield trading and distressed debt trading have departed as the bank is cutting 4,500 jobs...

Petroplus' Banks Give it Temporary Reprieve

The lenders are providing the Swiss refiner with financing for critical resources at two refineries while it negotiates an amendment to its revolver...

More