Bankruptcy

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Detroit's revised bankruptcy plan sheds light on bonds, monitor

July 25 - Detroit released a revised debt adjustment plan on Friday that details the role of a post-bankruptcy monitor and sets up a reserve fund to possibly enhance recoveries for certain creditors.

Detroit revs up for approval of bankruptcy plan

July 25 - Detroit could be on the fast track to complete the final, crucial phase of its historic bankruptcy case, as settlements with key creditors line up and city workers and retirees demonstrate overwhelming support for cost-saving retirement benefit changes.

Regulatory News, 26 Jul 2014

KKR to invest in troubled sand maker Preferred Sands

NEW YORK, July 25 - Private equity firm KKR & Co LP said on Friday its special situations fund would lead an investment of more than $680 million in Preferred Sands, keeping one of North America's largest producers of sand for oil and gas producers in business.

Argentina and holdouts play chicken

NEW YORK, July 25 (IFR) - The prospect of a technical default by Argentina is looming as the government and holdout investors stare each other down in a very public battle of nerves ahead of the expiration of a grace period for debt payments on July 30.

25 Jul 2014

Time for the Bank of England to show a steady hand

LONDON, July 25 (IFR) - The Bank of England's latest curveball on the leverage ratio muddles the waters further in what is already a fiendishly complicated UK bank capital framework.

25 Jul 2014

UPDATE 1-Ambac says has final deal with bankrupt Detroit over bonds

July 25 - Ambac Assurance Corp said on Friday its final settlement in Detroit's bankruptcy case over the treatment of limited-tax general obligation bonds that it insured for the city would result in a 34 percent recovery, plus another possible 19 percent from a litigation reserve.

Regulatory News, 25 Jul 2014

UPDATE 2-Virgin Money to pay back Treasury loan with bond debut

* Equity convertible AT1 bond comes ahead of rumoured IPO (Recasts, adds HM Treasury quotes, pricing details and background information)

25 Jul 2014

Virgin Money to sell £160m Additional Tier 1 bond

LONDON, July 25 (IFR) - Virgin Money is poised to sell a £160m Additional Tier 1 bond, according to a market source.

25 Jul 2014

'Risk-free' rating raises questions for Indian bank capital

* Bank of India launches first Tier 1 bond from state-run lender

25 Jul 2014

Nortel Networks to pay U.S. bondholders up to $1 bln in interest

WILMINGTON, Del., July 24 - Nortel Networks Inc, the U.S. unit of defunct Canadian telecom company Nortel Networks Corp, has agreed to pay up to about $1 billion in interest that has accrued on the $3.9 billion it owes to its U.S. bondholders, a court filing showed.

Regulatory News, 25 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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