Daily Bankruptcy & Restructuring Newsletter for May 14, 2015

Reuters: Judges craft their own formula for Nortel’s $7.3 bln in cash


S&P Capital IQ: Nortel High Yield Bonds Plunge 20-30 Points After Asset-Distribution Rulings


High Yield Bond: Hexion, Guitar Center bonds advance after 1Q results



Reuters: SEC charges ITT Educational, CEO, CFO with fraud; shares plunge


SEC: Copy of ITT Educational Complaint


Wall Street Journal: Standard General Wins Auction of RadioShack Brand



Bloomberg: Puerto Rico Talks Seeking to Avoid Receiver, Knighthead Says


Reuters: Cablevision to drop $1 bid for NY Daily News – source


Moody’s: Rating Action: Moody’s downgrades Chicago, IL to Ba1, affecting $8.9B of GO, sales, and motor fuel tax debt; outlook negative


ProPublica: How Illinois’ Pension Debt Blew Up Chicago’s Credit



CNN Money: What the heck happened to Ralph Lauren?


Wired: China’s Massive Smartphone Market Is Finally Slowing Down


Denver Business Journal: Frontier Airlines CEO Siegel leaves company


Bloomberg: HRG’s Salus Capital Lending Unit Said to Trim 40% of Its Staff


Weil, Gotshal & Manges: Bankruptcy Court Analyzes Preferences and Fraudulent Transfer Claims as Applied to a Lease Termination Agreement

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