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Restructuring

Sun Capital Buys ScS Unit

July 3, 2008 - Sun European Partners, a European investment affiliate of Sun Capital Partners, has acquired the trading subsidiary of UK retail sofa seller ScS Upholstery, as the parent company has gone into administration.

Another Rough Month For Financial-Services Jobs

July 3, 2008 - For professionals on Wall Street, the June jobs number confirmed what many already knew: The financial-services segment of the US economy lost jobs last month.

Heightened Worries For GM, Ford, Chrysler

July 1, 2008 - Credit default swaps, a market on Wall Street where corporate debt investors can buy protection against default, continue to take a harsher look at Chrysler, Ford and GM amid ongoing signs of a slowing economy and rapid gains in oil prices that are sapping demand for their products.

JHT Delivered To Bankruptcy Court

June 30, 2008 - JHT Holdings Inc., a Kenosha, Wisc.-based delivery service provider to North American commercial vehicle manufacturers, filed for bankruptcy protection on June 24.

Whitehall Jewelers Files, Seeks DIP Loan

June 30, 2008 - Whitehall Jewelers of Chicago filed for bankruptcy protection on June 23 in Delaware's bankruptcy court.

Spain's Restructuring Pull

June 30, 2008 - Spain may be on top of the soccer world after its recent win in the European Cup, but it’s apparently just as proficient at something else: luring restructuring pros.

Lazard Middle Market Bolsters Three Groups

June 30, 2008 - Lazard Middle Market has hired three managing directors for its M&A and restructuring practices, and assigned another managing director to lead its private placement group.

'Big Dig' Builder Files For Protection

June 30, 2008 - Modern Continental Construction Co., the builder involved with the Big Dig project in Boston, filed for bankruptcy protection just days after it was charged by federal regulators with false statements about the quality of construction in two Boston public works projects.

Ratings Actions & Outlooks

June 30, 2008 - The latest ratings downgrades and outlooks from Moody's and S&P.

Dura's Long Run In Bankruptcy Is Over

June 30, 2008 - As part of its exit, Dura has secured a $110 million revolving credit facility, a $50 million European first-lien term loan, and an $84 million US second-lien term loan.

Personnel File

June 30, 2008 - Comings and goings from the world of restructuring and bankruptcy.

Carlyle Boosts Financial Services Group

June 27, 2008 - The Carlyle Group has added a tenth professional to its global financial services team, which aims to recapitalize distressed players in the sector. James Burr, most recently corporate treasurer of Wachovia, will join Carlyle as a managing director on Aug. 1.

Citi Rejiggering Distressed Debt Group

June 27, 2008 - Citigroup on Friday announced changes to its distressed debt group that have some professionals leaving the firm, the latest in a series of moves by the banking giant to right its business.

California Going After Mozilo, Countrywide

June 25, 2008 - California's attorney general, Edmund Brown, Wednesday announced a suit against mortgage lender Countrywide Financial, its chief executive, Angelo Mozilo, and its president, David Sambol.

Home Prices Still Falling, Index Shows

June 24, 2008 - The S&P/Case Shiller Index showed continued declines in home prices in April, and metropolitan statistical areas (MSAs), posted annual declines.