|
|
Frontier Creditors Want Evercore's Fees Reined in | Hertz Vehicle Bonds Lose Their Luster | Instagram Post Costs Kendall Jenner
|
|
|
|
|
|
|
|
Good day. Even in the restructuring business, where good help costs top dollar, $129 million in fees for Frontier Communications Inc.'s investment bankers is too much, according to creditors of the bankrupt telecommunications company. Bonds linked to Hertz Global Holdings Inc.'s fleet of rental cars are in jeopardy, despite their once-pristine credit ratings. And a social media post promoting the failed Fyre Festival cost Kendall Jenner a $90,000 settlement.
Now for today's news...
|
|
|
|
Frontier Creditors Criticize Potential $129 Million Payday for Evercore
|
|
|
Frontier Communications Corp. is taking fire from creditors over a proposed pay package for investment bank Evercore Group LLC that critics said could add up to $129 million in fees and other compensation. Read More.
|
|
|
Hertz Lenders Brace for Losses From Formerly Triple-A Bonds
|
|
|
Bonds backed by Hertz Global Holdings Inc.’s fleet of rental cars had the same credit rating as the U.S. government just a few weeks ago. Now the company’s financial woes are stoking fears investors are headed for a loss. Read More.
|
|
|
Kendall Jenner Settles Lawsuit Over Fyre Festival
|
|
|
Social-media influencer Kendall Jenner has agreed to pay $90,000 to settle a lawsuit over an Instagram post promoting the Fyre Festival, the 2017 music event that collapsed and went viral online. Read More.
|
|
|
|
|
|
|
|
|
Buyout Firms Seek Capital Recycling as Coronavirus Bites
|
|
|
|
Jonathan Nelson is the founder and chief executive of Providence Equity Partners, which has sought changes in the recycling provisions of its investor agreements for its seventh flagship buyout fund.
PHOTO: PATRICK T. FALLON/BLOOMBERG NEWS
|
|
|
|
Buyouts firms focused on shoring up portfolio companies struggling with the coronavirus pandemic have stepped up requests to hold on to more of investors’ realized gains. Read More.
|
|
Pyxus Shares Fall Wednesday, Continue Decline After Hours
|
|
|
Shares of tobacco supplier Pyxus International Inc. are trading lower after hours Wednesday, a day after WSJ Pro Bankruptcy, citing people familiar with the matter, reported the company has begun talks with creditors about a possible bankruptcy filing. — Stephen Nakrosis
|
|
|
|
BlackRock Softens Stance in Argentina Restructuring Talks
|
|
|
BlackRock Inc. is proposing a key group of Argentina’s creditors accept greater losses in a restructuring ahead of a potential default on the country’s sovereign debt later this week. Read More.
|
|
|
Ares Targets €9 Billion for Latest European Debt Fund
|
|
|
Less than two years after Ares Management Corp. raised one of the largest European credit funds on record, the U.S. private-equity firm is back pitching an even bigger one to investors, people familiar with the situation said. Read More.
|
|
|
|
|
$129 Million
|
|
Maximum payday for Evercore Group LLC for its work advising bankrupt Frontier Communications Corp.
|
|
|
|
|
|
The demise of Pier 1 Imports Inc. shows that bankruptcy during a pandemic can mean gone for good. (Bloomberg)
Covid-19 is likely leading more U.S. farmers to file for bankruptcy. (MarketPlace)
Macy’s Inc. said Thursday first-quarter sales fell by as much as 45%. Victoria’s Secret parent L Brands Inc. said quarterly sales fell 37% and that it would close about a quarter of the lingerie brand’s stores in North America. Kohl’s Corp. reported a 41% drop in sales for the spring quarter. (WSJ)
How to navigate bankruptcy if the coronavirus wrecks your business. (CNBC)
The city of Fairfield, Ala. filed for chapter 9 bankruptcy. (Al.com)
American Airlines executive rejects bankruptcy speculation. (Forbes)
Cares Act expands small business access to less expensive, quicker bankruptcy option. (Fox News)
|
|
|
|
|
|
|
|
