· A rights offering would delay the company’s emergence from bankruptcy, the people said, adding that issuing bonds would be essential for paying wildfire claims expeditiously.
Retailer can exit chapter 11 protection as soon as next week. Oaktree, which will backstop the rights offering, is set to earn nearly $9 million in fees in exchange for making sure Quiksilver raises enough cash, court papers show. The funds raised in the rights offering on top of another $140 million in bankruptcy-exit financing will help the company pay off its debts and fund its emergence from.
Walter Investment Management Ditech returns to bankruptcy to restructure its debt Ditech Holding Corp. is refiling for bankruptcy almost a year after emerging from it in order to facilitate a restructuring agreement with lenders holding more than 75% of its term loans.
Management blamed its recent bankruptcy proceedings, which saw the former Walter investment management corporation emerge as Ditech earlier this year, for the delay. in connection with the.
Fannie Mae will pay $2.8B to Treasury after profit Fannie Mae said Friday that it will pay the U.S. Treasury a $5.5 billion dividend next month after its profit doubled in its latest quarter. The government-controlled mortgage company has already paid.
The practice, ostensibly aimed at keeping experienced management teams in place during turbulent times, appears to reward executives who take companies into bankruptcy rather than disciplining them -.
Last week, Walter disclosed in a filing with the Securities and Exchange Commission that it planned to change its name to Ditech Holding Corp. upon its exit from bankruptcy. That disclosure came as part of an announcement that the company’s emergence from bankruptcy would be delayed.
People on the move: march 23 walter investment’s emergence from bankruptcy is delayed * WALTER INVESTMENT MANAGEMENT CORP – EFFECTIVE DATE OF EMERGENCE FROM chapter 11 proceedings WILL NOT OCCUR PRIOR TO FEBRUARY 2, 2018 Source text for Eikon: Further company coverage: Our.Business Events Calendar for March 18, 2019.
Situs strikes deal to buy MountainView Financial Solutions Acknowledging a shift in the legal landscape, Palo Alto officials agreed on Monday night to repeal the city’s controversial ban on car camping. By an 7-1 vote, with Councilman Larry Klein dissenting.One57 foreclosure shatters price dreams at billionaires’ tower The Bloomberg story (that I got to chime in on) lays out the details of the one57 auction sale: one57 Foreclosure Shatters Price Dreams at Billionaires’ Tower. The story reached #1 as the most read on the 350k bloomberg terminals worldwide yesterday.
There are a number of factors at play that have caused this price discrepancy, including limited sell-side coverage, bond holders becoming forced sellers, lack of inclusion in ETFs, and lack of trust.
FORT WASHINGTON, Pa., Jan. 31, 2018 /PRNewswire/ — As previously announced, Walter Investment Management Corp. (the "Company") (NYSE: WAC.BC) received approval of its prepackaged financial restructuring plan (the "Prepackaged Plan") from the United States Bankruptcy Court for the Southern District of New York on January 17, 2018.
People on the move: Feb. 9 People on the Move. Crain’s is the place to showcase your Chicago-area job changes and board appointments. Best of all, with paid People on the Move listings, publication is guaranteed in print.