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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...
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...