Owners for Revel AC In (with its Company, "Revel"), located on the Boardwalk in Atlantic City, New Jersey, announced its "restructuring" plan to help reduce its debt load by over $1 billion through an exchange of debt for equity. Its plans is to recapitalize through a consensual prepackaged Chapter 11 reorganization.
Wrong ratings by the S&P, in 2007, appeared to be safer for the investors and eventually contributed in financial crash, leaving them with loss of billions of dollars.
BP won final approval of a $4 billion guilty plea that resolves all criminal charges against the company related to the biggest offshore oil spill in U.S. history.
Seattle Seahawks cornerback, Richard Sherman won an appeals case against a four game suspension due to alleged use of performance enhancing drugs on Thursday. The arbitrator's decision consequentially makes Sherman eligible to play in the NFL playoffs.
