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Sep 12, 2011

Dallas Stars hockey team to be sold in bankruptcy

By Tom Hals

(Reuters) – The Dallas Stars hockey team plans to file for bankruptcy this week with a proposal for a quick sale to a Canadian businessman for about $230 million, according to sources close to the talks.

The proposed sale to Tom Gaglardi, whose Vancouver-based investment firm owns Moxie’s Restaurants and Sandman Hotels, Inns & Suites, will be subject to higher bids.

Sep 9, 2011
via Breakingviews

Four crucial calls for the shape of UK banks

By George Hay and Peter Thal Larsen The authors are Reuters Breakingviews columnists. The opinions expressed are their own.

Sir John Vickers is about to drop his bombshell. On Sept. 12, the chairman of Britain’s Independent Commission on Banking will unveil the results of a 14-month probe into stability and competition in the UK sector. The ICB’s mission is to solve what finance minister George Osborne has dubbed the “British dilemma”: how to maintain a large financial industry while protecting taxpayers from future bailouts.

Sep 9, 2011

Breakingviews-Four crucial calls for the shape of UK banks

(The authors are Reuters Breakingviews columnists. The opinions
expressed are their own)

By George Hay and Peter Thal Larsen

LONDON, Sept 9 (Reuters Breakingviews) – Sir John Vickers is
about to drop his bombshell. On Sept. 12, the chairman of
Britain’s Independent Commission on Banking will unveil the
results of a 14-month probe into stability and competition in
the UK sector. The ICB’s mission is to solve what finance
minister George Osborne has dubbed the “British dilemma”: how to
maintain a large financial industry while protecting taxpayers
from future bailouts.

Sep 9, 2011

French banks’ funding flames fuelled by Basel

(The authors are Reuters Breakingviews columnists. The opinions
expressed are their own)

By Margaret Doyle and George Hay

LONDON, Sept 9 (Reuters Breakingviews) – BNP Paribas
(BNPP.PA: Quote, Profile, Research) and Societe Generale (SOGN.PA: Quote, Profile, Research) may be disappointed if
they reckon that their statements this month on funding will
ease investor concerns. While shares in both French banks
enjoyed a relief rally on Sept. 8, they are still down 40 and 54
percent respectively since early July. Both groups want to show
that these sell-offs are fuelled by market hysteria, not
fundamentals. But the Basel Committee’s tough new liquidity
rules suggest the opposite.

Sep 9, 2011

Breakingviews-French banks’ funding flames fuelled by Basel

(The authors are Reuters Breakingviews columnists. The opinions
expressed are their own)

By Margaret Doyle and George Hay

LONDON, Sept 9 (Reuters Breakingviews) – BNP Paribas
(BNPP.PA: Quote, Profile, Research) and Societe Generale (SOGN.PA: Quote, Profile, Research) may be disappointed if
they reckon that their statements this month on funding will
ease investor concerns. While shares in both French banks
enjoyed a relief rally on Sept. 8, they are still down 40 and 54
percent respectively since early July. Both groups want to show
that these sell-offs are fuelled by market hysteria, not
fundamentals. But the Basel Committee’s tough new liquidity
rules suggest the opposite.

Sep 8, 2011

Legal support firm A. Gallo seeks bankruptcy sale

WILMINGTON, Delaware (Reuters) – Alexander Gallo Holdings LLC, one of the largest U.S. providers of litigation services, plans to sell its business to an investment firm after a sharp drop in sales forced it into bankruptcy.

Alexander Gallo provides about 10,000 law firms and companies with court reporting and electronic discovery services. Business has fallen sharply as law firms and companies have scaled back their use of outside legal services during the economic slowdown.

Sep 7, 2011

Solyndra CFO won’t say if solar maker to stay in US

, Sept 7 (Reuters) – The chief financial
officer of bankrupt start-up Solyndra, which had ramped up its
operations after getting a U.S. government loan for solar
companies, declined to say on Wednesday if potential buyers
would keep its business in the United States.

Under questioning at a bankruptcy court hearing from a U.S.
government attorney, CFO W.G. Stover declined to identify
either of the two companies that have shown an interest in
Solyndra’s operations, or even where they were based.

Sep 7, 2011

Cerberus-owned NewPage files for Chapter 11

, Sept 7 (Reuters) – NewPage Corp
[NEWPG.UL], the biggest maker of magazine paper in North
America, filed for bankruptcy on Wednesday, succumbing to
falling demand and rising costs.

NewPage, owned by Cerberus Capital Management LP [CBS.UL],
has been trying to restructure its $4.2 billion of debt but
said jittery suppliers have begun cutting off its credit,
leaving its liquidity “severely constrained,” according to
filings in Delaware’s bankruptcy court.

Sep 6, 2011

U.S. solar firm Solyndra files for bankruptcy

WILIMINGTON, Delaware (Reuters) – Solyndra LLC, a solar panel maker that received $535 million in federal loan guarantees, filed for bankruptcy, the third U.S. solar firm to succumb to pressure from Chinese rivals in recent weeks.

Solyndra, which also received more than $700 million in venture capital funding, said it will try to find a buyer quickly to avoid a firesale liquidation.

Aug 31, 2011

Greek bank M&A shows no mercy on weaker partners

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own)

By George Hay

LONDON, Aug 31 (Reuters Breakingviews) – Piraeus Bank
(BOPr.AT: Quote, Profile, Research) must feel a bit jilted. The smallest of the four big
Greek banks has just watched its most likely merger partners,
Eurobank EFG (EFGr.AT: Quote, Profile, Research) and Alpha Bank (ACBr.AT: Quote, Profile, Research), head off into
the sunset together. A consolation deal with National Bank of
Greece (NBGr.AT: Quote, Profile, Research), the biggest of the bunch, could work. But
Piraeus may have to make significant concessions to make it
happen.

    • About George

      "George Hay writes about the banking and property sectors. He joined from Thomson Financial News, where he was a companies correspondent. Before that he worked at United Business Media, where he was news editor of Building Magazine. He has a first in English Literature from Edinburgh University, and was nominated in two categories at the 2009 Business Journalist of the Year Awards."
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