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The trailing 12-month U.S. high-yield default rate increased slightly to 1.7% in January from 1.5% in the previous month, as middle-market issuer Aquilex Corp. joined large companies Eastman Kodak and Catalyst Paper in defaulting on $1.9 billion in bonds, according to Fitch Ratings. More

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February 22, 2012 11:04 AM PST

Washington State Investment Board committed $400 million to Oaktree Opportunities Fund IX, a distressed debt fund launched by private equity firm Oaktree Capital Management last fall that will target about $4 billion in investments. More


February 21, 2012 2:28 PM PST

Turnaround management firm Alvarez & Marsal expanded its Canadian operations as it opened a new office in Calgary, Alberta. More


February 21, 2012 11:38 AM PST

Gordon Brothers Group, the Boston-based restructuring, advisory and investment firm, promoted Mark Dufton to chief executive officer of its affiliate DJM Realty. More


February 16, 2012 6:13 AM PST

Law firm Thompson & Knight hired William O'Connor and Evelyn Seeler as partners in the company's New York office serving clients in the restructuring, bankruptcy and real estate capital markets practices. More


February 15, 2012 6:13 AM PST

Energy Conversion Devices, a developer of materials science and renewable energy technologies, filed Chapter 11 bankruptcy and plans to sell its subsidiary United Solar Ovonic and other assets in Section 363 bankruptcy sales. More


February 14, 2012 6:25 AM PST

CDEX Inc., a Tucson, Ariz., maker of chemical detection devices for the health care and security markets, filed for Chapter 11 bankruptcy after failing to negotiate restructuring terms with all of its noteholders. More


February 13, 2012 6:38 AM PST

Middle market companies holding $79 billion of the lowest-rated, speculative-grade debt will face refinancing challenges over the next five years before their debt hits the maturity wall in 2016, according to Moody's Investors Service analysts and restructuring consultants. More


February 09, 2012 11:40 AM PST

Prudential Mortgage Capital plans to finance unstabilized multifamily properties through its lending program as it increases its volume target for commercial real estate mortgage originations in 2012 by nearly 20% over the previous year. More


February 08, 2012 6:45 AM PST

Law firm Thompson Hine hired William Schrag in its business restructuring, creditors rights and bankruptcy practice in New York. More


February 06, 2012 2:41 PM PST

Commercial real estate exposure continues to be the driving force behind bank failures. More


February 22, 2012 9:58 AM PST

Turnaround management firm Huron Consulting Group hired John Mansell as a managing director in its financial consulting segment, focusing on European cross-border restructuring and operational turnarounds. More


February 21, 2012 2:24 PM PST

Grubb & Ellis Co., a Santa Ana, Calif.-based commercial real estate services firm, filed for Chapter 11 bankruptcy and reached an agreement to sell all of its assets to BGC Partners in a Section 363 bankruptcy auction. More


February 17, 2012 5:05 AM PST

Third Avenue Management, a New York-based investment fund manager, will partner with Washington, D.C.-based restructuring adviser Millstein & Co. on new distressed investments. More


February 15, 2012 11:41 AM PST

Solus Alternative Asset Management said it hired veteran investment banking analysts from Deutsche Bank as portfolio managers to target growing distressed asset investment opportunities. More


February 14, 2012 6:52 AM PST

TSC Global, a Charlotte, N.C., distributer of consumer brand products, filed for Chapter 11 bankruptcy to reduce its debt and restructure its operations. More


February 14, 2012 5:23 AM PST

LSP Energy, an electric generation company that operates a facility in Batesville, Miss., filed for Chapter 11 bankruptcy and will seek an asset sale after mechanical failures of two units at its facility led to huge losses from extended outages and mounting repair bills. More


February 13, 2012 5:25 AM PST

The frequency of distressed exchanges, which began accelerating in 2010, is revealing flaws in capital structure repairs as a high amount are re-defaulting.


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February 08, 2012 11:07 AM PST

Real Mex Restaurants, a Cypress, Calif.-based operator of the bankrupt Chevy's Fresh Mex, El Torito and Acapulco Mexican restaurant chains, approved a bid to sell all of its assets and subsidiaries to a group of its senior lenders. More


February 07, 2012 2:19 PM PST

TBS International, a Yonkers, N.Y.-based international shipping company with a 41-vessel fleet, filed for a prepackaged Chapter 11 bankruptcy and will transfer 90% ownership of the company to its lenders Bank of America and DVB Bank. More


February 03, 2012 1:30 PM PST

Business bankruptcy filings, which include Chapter 11, Chapter 7 and some Chapter 13 cases, decreased to their lowest level in nearly four years as 4,967 cases were filed in January, according to bankruptcy data provider Epiq Systems. More



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