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Patriot Coal Delays Auction—Again

09/14/15

Patriot Coal Corp. on Friday said efforts to firm up a deal with its bankruptcy lenders to finance the sale of its mines have led it to postpone its auction for a second time. Read the Daily Bankruptcy Review story in The Wall Street Journal.

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Credit Suisse Ordered to Pay Hedge Fund Over Real Estate Deal

09/08/15

A judge on Friday said Credit Suisse must pay a unit of Highland Capital Management $287.5 million over a soured real-estate loan, a win for James Dondero’s hedge-fund firm in its multipronged fight against the Swiss bank over luxury developments, The Wall Street Journal reports.

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Patriot Coal Reaches Money-Saving Deal With Labor Union  

09/04/15

Patriot Coal Corp. averted a bankruptcy showdown with its miners on Thursday after the union representing its workers and the company’s proposed suitor agreed on a new employment pact, The Wall Street Journal reports. The deal still needs a vote of approval from union members.

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Patriot Coal Judge Urges Union, Buyer to Continue Talks

09/02/15

A judge “strongly” recommended that Patriot Coal Corp.’s buyer and its miners’ union keep engaging in bargaining talks, Daily Bankruptcy Review reports via The Wall Street Journal.

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RadioShack’s Junior Creditor File Suit Against Standard General

09/01/15
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Junior creditors of the former RadioShack are suing hedge fund Standard General LP to try to get repaid, Daily Bankruptcy Review

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Junk Bond Market Says This Correction Is Different from 2008

08/25/15
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On Monday, bond investors may have said we-told-you-so, but they also tacitly gave investors

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Bill Gates’s Optim Energy Settles With Blackstone

08/14/15

Optim Energy LLC will pay Blackstone Group LP $5 million to settle their fight in the Texas power-plant operator’s bankruptcy case in exchange for Blackstone dropping its appeal of Optim’s court-approved plan to exit bankruptcy. Read the Daily Bankruptcy Report story in The Wall Street Journal.

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Columbia House Ovner Enters Bankruptcy

08/11/15

The owner of former mail-order music giant Columbia House filed for bankruptcy to sell off the remains of its business. Read the Daily Bankruptcy Review article via The Wall Street Journal.

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Puerto Rico Misses $58 Million Bond Payment

08/04/15

Puerto Rico missed most of a $58 million bond payment Monday, marking the first default by the U.S. commonwealth and escalating its attempt to restructure about $72 billion in debt, The Wall Street Journal reported. The payment to bondholders is the first skipped since Gov. Alejandro García Padilla in June said the island’s debts were unsustainable and urged negotiations with creditors, which range from individuals to hedge funds.

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