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Latest Debtor-in-possession financing Stories

2009-04-01 10:01:00

Texas-Based Refiner Purchases Five Facilities and Development Site SIOUX FALLS, S.D., April 1 /PRNewswire/ -- VeraSun Energy Corp. today announced that it closed on the sale of assets to Valero Renewable Fuels that included five ethanol production facilities and a development site. The sale closed at 12:01 a.m. CDT, this morning. The facilities are located in Aurora, S.D.; Fort Dodge, Charles City, and Hartley, Iowa; and Welcome, Minn., and the development site is in Reynolds, Ind. VeraSun...

2009-03-23 07:00:00

SUNNYVALE, Calif., March 23 /PRNewswire-FirstCall/ -- Spansion Inc. (Nasdaq: SPSN) the world's largest pure-play provider of Flash memory solutions, today released its fourth quarter net sales results and issued its net sales outlook for the current fiscal quarter. (Logo: http://www.newscom.com/cgi-bin/prnh/20060118/SFW077LOGO) In the fiscal fourth-quarter ended December 31, 2008, net sales were $468 million. During the fiscal first quarter 2009, ending March 29, Spansion anticipates net...

2009-03-18 16:26:00

BEACHWOOD, Ohio, March 18 /PRNewswire/ -- Aleris International, Inc. announced today that following a hearing on Monday, March 16, the U.S. Bankruptcy Court for the District of Delaware has granted final approval for the company's debtor-in-possession ("DIP") credit facility in connection with its previously announced Chapter 11 filing on February 12, 2009. The $1.075 million DIP credit facility, which includes a new $500 million term loan and a $575 million revolving credit facility, will...

2009-03-18 16:04:00

Valero to Purchase Seven Facilities and Development Site Secured Lenders Credit Bid for Remaining Assets Transactions Expected to Close in 2 to 6 weeks SIOUX FALLS, S.D., March 18 /PRNewswire-FirstCall/ -- VeraSun Energy Corp. today announced that the U.S. Bankruptcy Court has approved the sale of sustainably all the Company's assets. Yesterday at an auction in Wilmington, Del., VeraSun selected Valero Renewable Fuels as the successful bidder for assets contained in the "VSE Group", in...

2009-03-17 20:08:00

Valero Bids $477 Million Plus Working Capital Secured Lenders Submit Credit Bids Totaling $516 Million for Remaining Assets Sale Approval Hearing Scheduled for Tomorrow at Noon in Wilmington, Delaware SIOUX FALLS, S.D., March 17 /PRNewswire-FirstCall/ -- VeraSun Energy Corp. today announced that it has selected Valero Renewable Fuels as the successful bidder for assets contained in the "VSE Group", in addition to ethanol production facilities in Albion, Neb., and Albert City, Iowa,...

2009-03-16 15:15:00

John Brincko to Spearhead Restructuring Efforts SUNNYVALE, Calif., March 16 /PRNewswire-FirstCall/ -- Spansion Inc. (Nasdaq: SPSN), the world's largest pure-play provider of Flash memory solutions, today announced that it has retained John P. Brincko as Chief Restructuring Officer (CRO). Brincko's firm, Brincko Associates, Inc., has been listed as one of the "Outstanding Turnaround Firms" for ten of the past ten years by Turnarounds and Workouts, a leading publication dedicated to...

2009-03-11 18:26:00

BEACHWOOD, Ohio, March 11 /PRNewswire/ -- Aleris International, Inc. today provided an update on its debtor-in-possession financing and first day motions in connection with its previously announced Chapter 11 filing on February 12, 2009. The U.S. Bankruptcy Court for the District of Delaware authorized the Company to pay and continue to honor certain remaining employee benefits that had not been previously approved. It also granted final approval of the Company's first day motions for...

2009-03-05 12:23:00

AURORA, ON, March 5 /PRNewswire-FirstCall/ - Magna Entertainment Corp. ("MEC" or "the Company") (NASDAQ: MECA; TSX: MEC.A), together with certain of its wholly-owned subsidiaries, today announced that it has filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the "Court") and will seek recognition of the Chapter 11 proceedings from the Ontario Superior Court of Justice under section 18.6...

2009-02-27 19:44:00

Action Provides Access to an Additional $1.083 Billion ROTTERDAM, Netherlands, Feb. 27 /PRNewswire/ -- The United States Bankruptcy Court for the Southern District of New York has approved the terms of Lyondell Chemical Company's debtor-in-possession (DIP) financing package. This action will allow the company access to an additional $1.083 billion of the DIP financing and will make an additional euro 260 million available to LyondellBasell entities that are organized outside of the United...

2009-02-11 13:14:00

BAKERSFIELD, Calif., Feb. 11 /PRNewswire-FirstCall/ -- Foothills Resources, Inc. (OTC Bulletin Board: FTRS) (the "Company") today announced that it and its subsidiaries have filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court in Wilmington, Delaware. The Company plans to use this process to restructure its debt, which the Company expects will result in a substantially de-levered capital structure more suited to support its current operations in light of...


Word of the Day
malpais
  • The ragged surface of a lava-flow.
'Malpais' translates from Spanish as 'bad land.'