North America

Results for North America

Frustrated Judge Scolds Argentina but Does Not Hold It in Contempt

A federal court judge said on Thursday that Argentina’s attempt to skirt one of his rulings was “lawless” but stopped short of finding the country in contempt of court, the International New York Times reported. Exasperated lawyers for a group of New York hedge funds that are seeking more than $1.5 billion in ...

Daily Headline - global.abi.org - 08/21/2014 - 22:49 - 0 comments

Argentina to Pay Bondholders in Local Account to Skirt Ruling

Argentina will send a bill to Congress to authorize the payment of foreign debt in local accounts in a bid to skirt a U.S. court ruling that is blocking payments and caused the nation to default on July 30, Bloomberg News reported. Argentina will seek to ...

Daily Headline - global.abi.org - 08/19/2014 - 21:33 - 0 comments

Argentina Slams US Debt Case Judge Despite Contempt Threat

Argentina came out swinging today against the US judge overseeing its debt default case, in defiance of a threatened contempt order, and disappointed market hopes it might soon restart talks with the hedge funds suing the country, the Irish Times rep ...

Daily Headline - global.abi.org - 08/13/2014 - 22:11 - 0 comments

Bombay, Bowring Under Court Protection While Looking For Solution To Debt Problem

Benix closed its final store in June. The retailers collectively owe about $80-million, including $14.5 ... plan under court supervision. An Ontario Superior Court judge granted a stay until Sept. 5 last week ... other financial covenants with their primary lender, CIBC. The companies also owe $28.5-million to Isacc ...

Daily Headline - global.abi.org - 08/12/2014 - 23:18 - 0 comments

Thirty-Something Canadians Most Indebted After Home Boom

Canadians from 35 to 44 years old added the most relative to other age groups to their debt loads as rising home prices led them to take out larger mortgages, according to a report by Royal Bank of Canada, Bloomberg News reported today. People in that ag ...

Daily Headline - abi_admin - 08/07/2014 - 14:09 - 0 comments

THE INTERNATIONAL SCENE: Can Chapter 15 Be an Ally to Bondholders in Foreign Insolvency Cases?

THE INTERNATIONAL SCENE: Can Chapter 15 Be an Ally to Bondholders in Foreign Insolvency Cases? (citation: George W. Shuster, Jr. and Benjamin W. Loveland, Can Chapter 15 Be an Ally to Bondholders in Foreign Insolvency Cases?, XXXIII ABI Journal 8, 50-5 ...

Resource Article - abi_editor - 08/06/2014 - 14:04 - 0 comments - 0 attachments

Hopes Remain Of Deal On Argentine Debt

Argentina’s debt saga has been dragging on for more than 12 years and, with the country slipping back into default on Wednesday, it is far from over. Hopes remain that a deal with the private sector can still be reached, the Financial Times reported. ...

Daily Headline - global.abi.org - 07/31/2014 - 18:55 - 0 comments

Carlyle-Owned Zodiac Pool Seeks U.S. Bankruptcy Protection

Zodiac Pool Solutions SAS, the Paris-based swimming pool and spa manufacturer, filed Thursday for bankruptcy protection in the U.S. as part of its debt-restructuring effort now under way in the U.K., The Wall Street Journal reported. Formerly known a ...

Daily Headline - global.abi.org - 07/31/2014 - 19:03 - 0 comments

Argentina, Creditors Fail to Reach Deal

Talks aimed at a last-minute settlement between Argentina and holdout creditors collapsed late Wednesday, and a court-appointed mediator said the country would "imminently" be in default, The Wall Street Journal reported. At a news conferen ...

Daily Headline - global.abi.org - 07/30/2014 - 22:06 - 0 comments

Bombardier Restructuring Exposes Liquidity, Debt Risks –Analysts

Bombardier Inc's unexpected aerospace restructuring announcement last week casts an uncomfortable light on the division's ongoing struggles, with credit rating firms uncertain about its longer term prospects. The restructuring, which was announ ...

Daily Headline - global.abi.org - 07/30/2014 - 22:07 - 0 comments

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