Intervenor Sees Texas PUC Rejecting NextEra’s Request for Oncor Rehearing

NextEra Energy’s request for a rehearing over the Texas Public Utility Commission’s rejection of the Florida-based utility giant’s proposed $18.4 billion acquisition of Oncor Electric Deliveryfeatured

Oi Creditor Meeting Likely in March

Brazilian distressed telco Oi is expected to hold a meeting with its creditors in March 2017 to decide on the restructuring plan filed by the company last month, sources involved in the process told CTFN. “We estimate that the meeting with creditors will be held in March, approximately 180 working days after the court approval … Read Morefeatured

Oi Alternative Restructuring Plan Would Dilute Shareholders Below 50%

A group of debt-focused investors is going to propose to Oi an alternative plan for its reorganization after analyzing the plan submitted by the carrier on Monday, a lawyer involved in the matter told CTFN. Oi filed its reorganization plan September 5 with the 7th Corporate Court of the Judicial District of the State Capital … Read Morefeatured

Pharol Fights Back Against Oi Minority Shareholder Claims

Portuguese holding company Pharol, the largest shareholder in Brazilian distressed telco Oi, is taking action to defend itself from the accusations put forward by opportunistic minority shareholder Société Mondiale, which has called for two shareholders meetings on September 8 to discuss, among other items, the replacement of Pharol-linked board members. Pharol, which holds a 27.5% … Read Morefeatured

Hunt to Remain Involved in Process for Oncor

Texas billionaire Ray L. Hunt may not be out of the running for Oncor, Texas’ largest power line company, just yet. Florida-based NextEra Energy’s agreement to acquire Dallas-based Energy Future Holdings’ controlling stake in Oncor in a dealfeatured

Samarco Heads Toward Bankruptcy

Chances that Samarco, the 50:50 joint venture between Brazilian mining company Vale and Australian peer BHP Billiton, could file for bankruptcy are getting higher amid dimming hopes that the company will resume full operations in the short term, sources told CTFN. “… it’s very unlikely that it will resume its activities in Mariana, Minas Gerais. … Read Morefeatured

Court Investigator Critical to Stay of Claims Against Caesars Entertainment

In 2008, Apollo Global Management and TPG Capital acquired Caesars Entertainment Corporation (CEC) in one of the largest leveraged buyouts in history for $6 billion in cash and $24 billion in debt. Shortly after the acquisition, the financial crisis struck, and CEC, which has been described in its bankruptcy filings as “the world’s most diversified … Read Morepublic

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