C&J Energy files for bankruptcy to cut $1.4 billion in debt | Reuters
Agreement with its lenders to swap $1.4 billion in debt for ownership of the reorganized company
Puerto Rico Sued for Diverting Cash After Federal Law Passed - Bloomberg
Aurelius, Autonomy and Monarch sue island’s Governor
Novation Companies, Inc. and Subsidiaries Commence Voluntary Chapter 11 Business Reorganization
OTCQB: NOVC
SunEdison retirement plan takes hit on company stock investments | Reuters
Participants suffered heavy losses on their investments in company stock last year.
Ground Zero of China’s Slowdown Leaves Locals Looking for Exit - Bloomberg
President Xi Jinping needs to slash excess capacity while cushioning the blow to affected citizens.
Philly airport workers vote to strike during the DNC
Workers seeking better scheduling, clarity on sick pay, a more predictable disciplinary system, and ability to unionize.
An Ugly Hump Day for Oil - Bloomberg Gadfly
When it comes to the great rebalancing of the global oil market, Wednesday will not be remembered very fondly
Excess Policies at Issue Deemed Not to Attach Absent Actual Payment of the Amount of Underlying Limits by Either the Insured or its Underlying Insurers | K&L Gates LLP
Policyholders contemplating insurance coverage settlements with low-level insurers should use caution to preserve their ability to access higher-level excess policies. Excess insurers are increasingly disputing that underlying policies are properly exhausted where policyholders elect to settle with underlying insurers for less than full limits.
Midstream Contracts Remain in Doubt in Bankruptcy | King & Spalding - JDSupra
It has been somewhat quiet in the E&P bankruptcy cases on midstream issues until recently.
Court Declines to Convert a Chapter 12 Case to a Chapter 11 Case | Weil Gotshal
Recently, a bankruptcy court in the First Circuit, confronted with whether the debtors’ chapter 12 case could be converted to a chapter 11 case – an issue over which there is split in the case law – determined that the Debtors’ chapter 12 case could not be converted to a chapter 11 case.