Lawyers

• New Jersey judge to oversee Atlantic City finances

  A New Jersey judge said that he will oversee the finances of cash-strapped Atlantic City to ensure it pays $25 million it owes the local school district for the rest of this school year.

• Puerto Rican government hopes to appease congress with new proposal on country's debt crisis

  The Puerto Rican government is now making new proposals in order to address the debt issue that the country needs to disburse. The new plan aims to help the country resolve its ever growing financial crisis.

• Greece to pursue deal with creditors to alleviate financial status

  Greece is keen on continuing the talks with its creditors in order to come up with a solution to the country's financial ailment. Different opinions on the issue have been the roadblock in coming up with a solution.

• Argentina reaches $190 million settlement with more houldout creditors

  Argentina reaches additional settlements of $190 million with seven holdout creditors to close litigation over its faulted bonds.

• Major Argentine Creditors Disagreed To Bid In Lifting Debt Injunctions

  Argentina's major creditors rejected the notion of removing the injunctions for debt settlment. They claimed that the action can only slow down the current negotiations.

• Soros to become key shareholder in Spanish company FCC

  U.S. billionaire George Soros will become a key shareholder in Spanish building and services company FCC (FCC.MC) following a 1 billion euro ($1.25 billion) rights issue aimed at paying down debt, a source with knowledge of the matter said on Friday.

• Detroit wins court approval for plan to exit bankruptcy

  Detroit won U.S. Bankruptcy Court approval on Friday for a road map to end its fiscal free fall and revitalize a city sinking under a huge debt load and dysfunctional government.

• New Jersey's Revel Resorts Reaches Agreement with Lenders, Plans "Restructuring" [Video]

  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.