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Energy Future favors Hunt debt repayment plan to exit bankruptcy

2015-07-24 18:39:24| Oil & Gas - Topix.net

As Energy Future Holdings Corp nears a deadline for ending its bankruptcy, Texas's largest power company has crowned a group supported by Hunt Consolidated Inc as the new leader in the effort to craft the best plan. Hunt has teamed up with junior creditors of Energy Future Holdings to raise about $12.1 billion to repay the power company's debt and convert its power distribution business, known as Oncor, into a real estate investment trust, or REIT.

Tags: plan future energy debt

Global Cobalt Extends Private Placement to August; Settles Debt with Shares

2015-07-23 04:55:30| Footwear - Topix.net

Global Cobalt Corp. announced that it has extended the closing of the previously announced private placement by 30 days to August 21. The company also announced that it has entered into settlement agreements with creditors of the company that will see Global Cobalt issue common shares at a price of $0.05 per common share in full and final settlement of the amounts owing to creditors. The Company has already closed on an initial first tranche on May 11th, 2015 that consisted of the issuance of a total of 2,990,000 Units at a price of $0.05 per Unit to four placees, for gross proceeds of $149,500.

Tags: august private global debt

Order delay, lack of debt support cause depression on jute counter

2015-07-20 07:40:31| Agriculture - Topix.net

Jute mills have voiced concerns over the delay in getting orders for gunny bags from Food Corporation of India and the state procurement agencies in Punjab and Chhattisgarh. They have also expressed concern over the Reserve Bank of India not heeding their pleas for improving the attitude of banks towards the traditional industry.

Tags: order support counter lack