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AvtoVAZ, Russia’s Largest Car Maker May File for Bankruptcy

AvtoVAZ, Russia’s Largest Car Maker May File for Bankruptcy

Russia’s largest car producer, AvtoVAZ, has announced it may have to file for bankruptcy due to losses and spiraling debts, but that production will not be halted. Executive vice-president Oleg Lobanov told reporters: “In such an event, we...
Reader’s Digest Association Reaches Agreement in Principle With Lenders To Reduce Its Debt From $2.2 Billion to $550 Million

Reader’s Digest Association Reaches Agreement in Principle With Lenders To Reduce Its Debt From $2.2 Billion to $550 Million

The Reader’s Digest Association, Inc. has announced it has reached an agreement in principle with a majority of its senior secured lenders on the terms of a restructuring plan to significantly reduce its debt burden and strengthen the company financially...
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