FACT Corp. (FCTOA.OB) Restructures Outstanding Debt

FACT Corporation operates through its wholly-owned subsidiary, Food & Culinary Technology Group Inc. The company develops and markets customized nutrition solutions for the global baked-goods industry. FACT sells specialty bake mixes to commercial producers who use these mixes to manufacture popular, health-friendly packaged baked goods. The company announced today that it has successfully negotiated a restructuring of the majority of its short-term debt with various creditors. [more...]

Date: 2009-09-16 13:59:26

Blog posts (154) | Videos (38)
 

PIMCO Plays Chicken with Treasury

A friend Andrew, all around big firm Analyst, writes: “Correct me if I’m wrong, ... its GMAC debt for restructuring? Didn’t that effectively force the Fed to use clause 13(3) to save GMAC? As I understand it, a debt restructuring would have smoothed GMAC’s conversion into a bank [more...]

Date: 2008-12-26 16:14:16

Global Competitiveness 2008-2009

Argentina: puesto 88 sobre 134 países (caímos tres lugares)Subíndices: Basic requirements: puesto 89 1. Institutions: puesto 128 2 ... to last year.The country has a number of important competitive advantages, including its relatively well ... of vulnerability going into the future. For example, despite debt restructuring, the public debt remains [more...]

Date: 2008-12-06 18:28:00

Kuwait’s Investment Dar keeps lenders at bay with “standstill agreement”

Sep 27th, 2009printemailPost a comment The Investment Dar Co., a Kuwaiti financial institution that owns half of Aston Martin, has negotiated a “standstill agreement” with lenders as it works to restructure its debt, reported Bloomberg on Sunday.“The consenting banks and investors will, for the duration of the standstill agreement, suspend individual claims relating to investment arrangements,” it said in a statement.Investment Dar defaulted on a $100 million Islamic bond this April, prompting [more...]

Date: 2009-09-27 12:42:50

Rep Wants To Show AIG Love

Continuing to rehabilitate his formerly tarnished image, Maurice ”Hank” Greenberg has been peddling a proposal to restructure the debt of American International Group (AIG) . Despite what would seem like an inhospitable climate for a nakedly self-serving initiative, Greenberg has gained some traction with Congress. Greenberg met with Rep.. Edolphus Towns, the chairman of the House Oversight and Government Reform committee, to pitch his proposal for resetting AIG’s debt. [more...]

Date: 2009-09-21 15:28:18

Cutting off supply of gas to Europe

On 23 December 2008, President Yushchenko said that more than $1 billion was paid by Ukraine to reduce its debt, while a part of the debt was restructured for January–February 2009. Gazprom denied that there is any [more...]

Date: 2009-01-07 13:22:20

GM Proves There Is an Alternative to Bailouts

One of the top U.S. business stories Monday involved a Credit Suisse analyst predicting that ] could go to zero in its restructuring process. Which would mean that over $2bn of equity value could be wiped out as debt restructuring could ... , creditors would agree to haircuts on their principal.Which would reduce the debt burden and help [more...]

Date: 2008-12-23 15:30:21

How are they doing now?

After yesterday’s less than stellar day on Wall Street, I couldn’t help but think of this post that I wrote back in October 2006 ... to reposition your equity and employ those funds elsewhere. Consolidating non-tax preferred interest ... to start investing in your future than today. In many cases, homeowners who restructured their debt [more...]

Date: 2008-10-07 13:00:22

The Many Problems With Bailing Out Big Auto

Resplendent in their private jets, Detroit’s auto executives have been pleading to Congress for a piece of the bailout mania ... .  In the financial sector, collapse would lead to a chain reaction, as the bad debt cascaded ... into restructuring and consolidation efforts that would shed their unsustainable “legacy” contracts [more...]

Date: 2008-11-20 15:07:15

GM Still Faces Bankruptcy

Deutsche Bank Managing Director Rod Lache predicted that GM will need a modified restructuring through some form of bankruptcy in 2009, ... a court order Lache worries that GM won’t be able to get all involved parties to agree to its debt restructuring. Labor issues have been an ongoing sore spot in the battle to save GM. The friendly ‘light’ [more...]

Date: 2009-01-14 14:02:04

Nortel Files for Chapter 11 Bankruptcy

In the about us page on Nortel’s website, they proudly state “Hundreds of millions of people, Fortune 500 companies, ... under the Companies’ Creditors Arrangement Act (”CCAA”) in Canada. As well, certain of the Company’ ... and debt burden, to effectively restructure its operations and to narrow its strategic focus [more...]

Date: 2009-01-14 16:02:05

Follow the debt

From the Times of Trenton: Bankruptcy lawyers’ business booming With real estate activity in a deep freeze, ... the debt. McCarter & English, the state’s largest law firm, will announce today it’s ramping ... with expertise in restructuring and debt management,” McCarter & English chairman Drew Barry said. Lawyers [more...]

Date: 2008-10-30 11:34:51

White House Considering “Orderly Bankruptcy” for U.S. Automakers

From AP: President George W. Bush answers a question during a meeting of the American Enterprise Institute, a conservative think tank, ... is the best way to work through credit and debt and restructuring,” Bush said of the U.S. auto industry at AEI. “These aren’t normal circumstances. That’s the problem.” From White House Press [more...]

Date: 2008-12-18 20:34:33

Mini Credit Recap of Yesterday

This was sent to me by a friend of the blog and captures some of the issues which confronted the credit markets and which I think will re-emerge ... . Masonite, a KKR owned Canadian company, bought some time to restructure its debt, but too late, the LCDS (loan-only CDS) are triggered because of a missed interest payment. Meanwhile the 30 year [more...]

Date: 2008-11-19 12:09:52

Ecuador's Ingenious Descending Auction

There's something quite elegant about Ecuador's proposed bond auction ... and 2030 bonds, which were issued as part of a 2000 debt restructuring, in a series of auctions ... into. And it's not trying to buy up its debt in the secondary market, where it could be picked off by mercenary [more...]

Date: 2009-01-04 12:50:59

Citi Throws Weight Behind Cram-Downs

In a move that clearly caught much of the financial and mortgage markets by surprise late Thursday, Citigroup, Inc. (C: 6.92 -3.35%) agreed with key legislators on a plan that would allow bankruptcy judges to modify the terms of mortgages during debt restructuring. The move is a surprising break from the financial industry’s long [more...]

Date: 2009-01-09 14:38:23

GM Could Go to Zero, Chrysler Even More Likely. Ahh... So We Do Have a Non-Govt Mechanism for Restructuring Companies

Yes we know. We could have been more succinct with our title ... , and there you have it GM can reduce its onerous debt burden. So where's the problem? Ah yes, the UAW. They refused ... of equity value could be wiped out as debt restructuring could lead to current equity holders being diluted [more...]

Date: 2008-12-23 05:49:55

Nortel Files For Chapter 11

Nortel Files For Chapter 11 ! Posted by Simon Perry on 14 January 2009 | Tagged as: Business, Financials, Networking [ ... authorization of its Board of Directors after thorough consultation with its advisors and extensive ... and debt burden, to effectively restructure its operations and to narrow its strategic focus [more...]

Date: 2009-01-14 16:34:54

Bush Working on "Orderly" Auto Bankruptcy

Apparently the President has heard the voices of his own party, ... for at least a month as it, General Motors Corp. and Ford Motor Co. await word on government action. General ... bankruptcy court is the best way to work through credit and debt and restructuring," he said during [more...]

Date: 2008-12-18 19:04:54

LyondellBasell May Seek Chapter 11 Bankruptcy Protection

LyondellBasell Industries, a chemicals maker controlled by the investor Len Blavatnik, may file for bankruptcy as a way to restructure debt that financed its $12.7 billion merger a year ago. The company hired an executive to oversee a restructuring in case it seeks court protection [more...]

Date: 2009-01-05 11:50:18

Bodhi Global Services expands its US presence

/India PRwire/ - Bodhi Global Services is pleased to announce a significant expansion of its US presence ... -border private and public financings, project development and debt restructuring. She also ... attorneys to the US team. Svati and Naseem will work closely with Ed Burke, the Company’s President [more...]

Date: 2008-11-26 05:20:49

Wall Street Breakfast: Must-Know News

GMAC a bank, at last. GMAC (GKM), owned by General Motors (GM) ... must restructure $38B of debt, GM must reduce its stake to less than 10% in voting shares and total ... in the holding company of the Boston Red Sox. Times has been rumored for months to be open to selling non [more...]

Date: 2008-12-26 12:03:38

Redstone tries to quell Viacom and CBS investor fears

Sumner Redstone's continued insistence that he has no plans to sell more shares of Viacom Inc. or CBS Corp ... . frantically attempts to work with bankers to restructure its massive $1.6-billion bank debt ... %, are under intense pressure to make an $800-million payment by Dec. 19. Ctlogosmall Redstone [more...]

Date: 2008-11-14 00:57:50

Distressed Debt Specialists See “Bonanza Year” in 2009

John Paulson, who runs the $36 billion hedge fund firm Paulson & Co., is looking to buy distressed mortgages and distressed debt, despite being bearish on the overall ... in a 2009 outlook to investors that he is interested in investing in debt restructurings, bankruptcies [more...]

Date: 2009-01-14 11:00:11

Financial Debt Restructuring

1. Citibank Credit Card (Checked-just made full settlement via online transfer) 2. RHB Credit Card (Tomorrow will make full settlement-why not today? ... -biar cepat sket habis) 5. Use Debit Card or Cash instead of Credit Card (also apply when pumping fuel) 6. No more big purchase for 2008. 7. Terminate all Credit Cards (tapi terpaksa tinggalkan 1 utk [more...]

Date: 2008-11-06 09:02:00

Nortel's statement on the bankruptcy filings

Nortel's statement on the bankruptcy filings Posted: January 14, 2009, 9:24 AM by DrewHasselback Filed under: ... authorization of its Board of Directors after thorough consultation with its advisors and extensive ... with its cost and debt burden, to effectively restructure its operations and to narrow its strategic focus [more...]

Date: 2009-01-14 14:24:00

The Camden Bobos Proposal

Below is a list of Ten Proposals for the next Administration, which came from a talk by Juan Enriquez ... the dollar (AAA rating in jeopardy) 2. We have to fundamentally and brutally restructure debt [more...]

Date: 2008-10-29 01:03:09

Another California food landmark fails: Copia in Napa

Here's another sign of the fading fortunes of upscale California "food concepts ... that it had secured a $2-million line of credit to fund its day-to-day operations while it looks ... costs since restructuring its considerable debt in 2007. [more...]

Date: 2008-12-02 01:23:02

Accountants Hot Commodities in Slowing Economy

Job seekers face one of the most challenging job markets in more than a decade ... , tax planning as well as debt consolidation and restructuring. Amid the trend, accounting firm [more...]

Date: 2008-12-18 10:30:09

Australias B&B Power says debt overhaul delayed

SYDNEY, Sept 28 - Australia's Babcock&Brown; Power Ltd now expects to put the final legal touches to a debt-restructuring plan by late October, rather than its original end-September timeframe, the firm said on Monday. Keywords: BABCOCK POWER/ ... [more...]

Date: 2009-09-28 03:39:46

Nortel Telecom equipment vendor Declares Bankruptcy

After years of layoffs and losses, one time telecom giant may be near rock bottom ... . The filing caps years of continuing losses as the embattled telecom vendor struggled to manage debt ... as part of its 2005 restructuring. In addition to rebuilding its core business after the dot-com [more...]

Date: 2009-01-15 10:05:01

It’s not just an era; it’s a new world order

Fred Wilson says what I’ve been thinking: That we’re in more than a financial crisis, we’re in a fundamental restructuring ... to critical mass through vast ownership funded by vast debt but instead, Google-like, by building ... to undergo this radical restructuring. Communications was also early on because it - like media [more...]

Date: 2008-12-26 20:27:31

Retirement Investing During Deflation

 If a recession becomes severe, dollars may suffer from deflation rather than inflation ... by reducing payments or restructuring.   As deflation sets in you’re paying off debt ... in value (real estate, stocks, etc).   Most retirees have no job to lose. They’re living off Social [more...]

Date: 2009-01-14 17:25:11

Financial Turnaround - If you are a farmer or fisherman, there

Financial Turnaround - If you are a farmer or fisherman, there The one sensible way to turnaround your business and stop business liquidation ... of wealth owing to an unsuccessful restructure. Most turn around projections include items like debt management, equipment leasing, financial resource based lending and the raising of capital funds. New [more...]

Date: 2009-01-15 23:33:09

CommScope Juiced by Debt Restructuring

Billion-dollar (market cap) telecom equipment supplier CommScope (CTV) is up $1.33, or 9.93%, at $14 ... , but it still has another $1.8 billion or so of debt on the books and roughly $500 million [more...]

Date: 2008-12-26 20:20:32

Charter Ties Incentives to Debt Restructuring

The big cable company hopes management will be encouraged to build enterprise value for its talks with bondholders. [more...]

Date: 2009-01-14 22:54:00

Charter Ties Incentives to Debt Restructuring

The big cable company hopes management will be encouraged to build enterprise value for its talks with bondholders. [more...]

Date: 2009-01-15 14:00:00

CommScope Jumps 5% on Debt Restructuring

Billion-dollar (market cap) telecom equipment supplier CommScope (CTV) is up 70 cents, or 5.23%, at $14 ... , but it still has another $1.8 billion or so of debt on the books and roughly $500 million [more...]

Date: 2008-12-26 09:18:00

U.S. Better Not Make Same Bailout Mistakes Twice

Celebrating bank bailouts as if they are a substitute for restructuring debt is "a mistake that will haunt us," John Hussman writes. [more...]

Date: 2009-09-29 19:04:53

Can the Beatles save EMI from Citi?

Citigroup may be taking a hard line on working out a debt restructuring of Beatles' music label EMI Group. [more...]

Date: 2009-09-28 16:28:13

Sign of the times: Ecuador defaults on bond payment

From Bloomberg: Ecuador won’t make a $30.6 million bond interest payment due next week, ... , calling the debt “illegal” and “illegitimate,” said the government will present a restructuring proposal [more...]

Date: 2008-12-12 20:26:43

AMD expected to report large fourth-quarter loss

AMD expected to report large fourth-quarter loss Posted on Friday, January 16 2009 @ 00:05: ... Co. Analysts say the plan could help ease AMD's financial burdens. "The asset-light restructuring can't come soon enough to improve the balance sheet (debt reduction, cash infusion), reduce [more...]

Date: 2009-01-15 23:23:00

Nortel files for bankruptcy

Technology giant Nortel Networks Corp. filed for bankruptcy protection in Canada and the US on Wednesday, ... is due to repay a US$107 million interest debt on bonds.Creditor protection would give the company more opportunities to explore restructuring options or sell off some of its assets.The Toronto-based [more...]

Date: 2009-01-15 02:15:00

Shrink Your Debt

From Entrepreneur.com : In general, the best choices for debt negotiation and settlement are unsecured loans and credit cards. Since there is no collateral that can be attached to satisfy the debt, creditors are more likely to negotiate to avoid writing off the entire debt. The two most common approaches for debt negotiation are to pay a lump sum that is less than the total amount owed, or to restructure the payment schedule with lower monthly payments. [more...]

Date: 2009-09-14 14:00:00

Sony, Like GM, Makes Products Nobody Wants

The Financial Times’ Lex posts on why Kleenex would be a better investment than Sony right now: Sony forecast operating profits of $2 ... in restructuring costs from the elimination of 8,000 full-time workers, and the likelihood of growing debt and higher interest costs. Sony has net debt of around $5.5bn, after stripping [more...]

Date: 2009-01-13 17:47:30

UK’s Marks and Spencer to sack 1,000 employees

UK fashion retailer Marks and Spencer will announce the sacking of 1,000 employees tomorrow after experiencing dire Christmas trading ... have had an emergency restructuring team sent in from Deloitte. According to The Times, these stores employ ... its three billion pound debt. Unemployment is now rising at a faster rate than during the 1990s [more...]

Date: 2009-01-06 10:33:19

USC Lusk Center Says Commercial Real Estate Will Continue to Weaken and Markets Won’t Grow for Two Years

LOS ANGELES–(BUSINESS WIRE) ... to lenders this year because cash flows have declined and, more importantly, debt coming due cannot be refinanced while credit is scarce. “Borrowers can still avoid foreclosure with creative restructuring [more...]

Date: 2009-01-15 00:15:09

Deal Stocks mixed as broader market has moderate drop

Moderate has not been a term used of late to describe the violently swinging market, ... as part of a restructuring, announced Tuesday it had amended and extended a credit line, removing concerns over its ability to meet debt obligations. - Michael Rudnick [more...]

Date: 2009-01-12 20:19:11

Air Chapter 11: 5 tips for surviving the bankrupt skies

September 27, 2009 If I were a bettin’ man, I’d put some money on a big airline filing for bankruptcy protection in the not-too-distant future.My oddsmaker is Robert Herbst, who publishes the Web site AirlineFinancials.com. “Based on my analysis,” he told me, “US Airways and United Airlines look to have the greatest challenges over the next year.”Enough of a challenge to push them off the Chapter 11 cliff? Perhaps. Point is, one day — maybe soon — you could be flying the bankrupt skies. [more...]

Date: 2009-09-27 11:08:03

Commonwealth in the networked economy [2]

Overcapacity results in a bailout of General Motors to the tune of $50billion Last December the boss of Fiat, Sergio Marchionne, predicted that the economic crisis would finally force the world’s car industry to confront profit-destroying overcapacity and change its broken business model. He also thought that, by the end of 2010, consolidation would result in there being only six high-volume carmakers left in the world. This week, as the industry gathered in Frankfurt, he returned to his theme. [more...]

Date: 2009-09-29 10:09:36

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