NEW YORK & LONDON -- Steps were taken today by bondholders
to place one of Argentina's leading bread-producing companies under Chapter 11 bankruptcy protection in the US, in a move highlighting deep tensions between international investors and Argentinian law.
The Committee of Unsecured Bondholders
, led by Lehman Brothers and well-known "vulture" investor Leon Black of Apollo Advisors, had unsuccessfully attempted to derail last December's trial with an eleventh hour settlement agreement with attorneys for the asbestos claimants.
will receive two types of warrants ("A" or "B" warrrants, respectively) under the Plan.
have a security interest in the trust estate pledged under the indenture which includes payments from the participants to FGU (under the Supply Agreements), amounts receivable under the commodity swap, amounts receivable under the Purchase Agreement and all other income available to the gas project, including reserve fund earnings.
Airis, through the lease with the issuer, assigned its interest in the sublease payments to the trustee for the benefit of the bondholders
MCGH covenants to provide annual and quarterly disclosure to bondholders
Together, these provisions have spared many REIT bondholders
from the fate of fixed income investors in other corporate sectors.
3 /PRNewswire/ -- The official representatives of Orange County's bondholders
called today for a full investigation of the County's reported use of bond repayment funds for other purposes and an immediate return of all wrongfully diverted monies.
NYW second general resolution (SGR) bondholders
benefit from similar legal protections afforded first general resolution (FGR) bondholders
, provided by a debt structure similar to those within structured finance.
All unsecured bondholders
will receive a combination of cash, new debt securities and new common stock based on the amount of their allowed pre-petition claims.
If the company doesn't make its filing during the cure period, the indenture provides that bondholders
have the right to accelerate the bonds.
The essence of Belle Casino's allegations is that its casinos are not "vessels" and thus are not covered by the "ship mortgages" held by the bondholders