Hertz Seeks Permission to Sell New Shares Amid Bankruptcy

Joseph B. Hash

Hertz World has requested a personal bankruptcy choose to approve a deal to promote up to 246.eight million unissued shares, up to $1 billion, to Jefferies even as impending liquidation threatens to wipe out their value.

Hertz shares jumped to as significant as $five.fifty three just after the filing ahead of falling to under $3 by Friday afternoon. The stock closed at fifty six cents on May 22.

“The the latest current market rates of and the buying and selling volumes in Hertz’s widespread inventory most likely current a exceptional opportunity for the debtors to increase funds on conditions that

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Yuma Energy Files for Bankruptcy, Plans to Liquidate

Joseph B. Hash

Yuma Energy has filed for Chapter eleven personal bankruptcy safety in the U.S. Personal bankruptcy Court for the Northern District of Texas. The company claimed its money situation deteriorated in the initially quarter of 2020 and its money circulation from functions was no longer adequate to cover its operating charges.

It was trying to find courtroom approval to hold an auction “for considerably all” of its assets, it claimed. The auction is envisioned to manifest in the initially ninety days of the personal bankruptcy. The assets are generally qualities in Louisiana, Texas, Wyoming, and Oklahoma.

Yuma claimed it may negotiate

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Newspaper Publisher McClatchy Files for Bankruptcy

Joseph B. Hash

Newspaper publisher McClatchy Co. has submitted for Chapter 11 bankruptcy security as it seeks to restructure more than $seven hundred million in personal debt.

The organization publishes 30 newspapers which include The Miami Herald, The Kansas Town Star, and The Sacramento Bee.

Pending court docket approval, sixty% of its personal debt would be eliminated and regulate of the organization would be presented to McClatchy’s biggest creditor, the hedge fund, Chatham Asset Management.

Chatham Asset Management also owns a bulk stake in the National Enquirer and Postmedia, the biggest Canadian newspaper chain.

“When regional media suffers in the experience of market

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