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<title> SecondMarket</title>
<link>http://www.secondmarket.com</link>
<description>With 3,000 members managing over $1 trillion in investable assets, SecondMarket brings together buyers and sellers in the largest marketplace for illiquid assets. SecondMarket's members include global financial institutions, hedge funds, private equity firms, mutual funds, and other institutional and accredited investors.</description>
<language>en-us</language>
<pubDate>Tue, 02 Mar 2010 18:01:08 -0600</pubDate>
<lastBuildDate>Tue, 02 Mar 2010 18:01:08 -0600</lastBuildDate>
<copyright>Copyright 2010, SecondMarket</copyright>
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<title><![CDATA[Regent Files Bankruptcy to Give Lenders Radio Company]]></title>
<link>http://www.secondmarket.com/articles/regent-files-bankruptcy-to-give-lenders-radio-company.html</link>
<pubDate>Wed, 31 Dec 1969 18:00:00 -0600</pubDate>
<description><![CDATA[
    Regent Communications, the owner and operator of 62 radio stations in 13 markets, has filed for bankruptcy with about $211 million in debt
    The company plans to eliminate $87 million through a debt for equity conversion that would will give control of the company to its creditors
    Under the current plan Oaktree Capital Management will become the majority owner of Regent once it exits bankruptcy
    &nbsp;
]]></description>
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<title><![CDATA[Lehman Brothers Files Plan for Liquidation With Court]]></title>
<link>http://www.secondmarket.com/articles/lehman-brothers-files-plan-for-liquidation-with-court.html</link>
<pubDate>Tue, 16 Mar 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    Lehman Brothers has filed an initial bankruptcy plan with the court outlining how the company plans to divide up its assets
    While the plan did not cover expected recoveries, it listed over 130 classes of creditors
    While Lehman plans to liquidate most of its assets, the company will hold onto some units including real estate, uranium and asset management opperations
]]></description>
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<title><![CDATA[Lyondell Reorganization Terms Approved Over Objections on Value]]></title>
<link>http://www.secondmarket.com/articles/lyondell-reorganization-terms-approved-over-objections-on-value.html</link>
<pubDate>Mon, 15 Mar 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    Judge Gerber has paved the way for Lyondell to exit bankruptcy, overruling objections over the valuation of the company
    A group of creditors had argued that the $15.2 billion valuation of the company was artificially low
    The ruling brings Lyondell one step closer to achieving its planned exit from bankruptcy on April 30th
]]></description>
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<title><![CDATA[Six Flags Creditors See Signs Of Merger With Cedar Fair]]></title>
<link>http://www.secondmarket.com/articles/six-flags-creditors-see-signs-of-merger-with-cedar-fair.html</link>
<pubDate>Wed, 10 Mar 2010 00:00:00 -0600</pubDate>
<description><![CDATA[
    Speculation of a merger between Cedar Fair and Six Flags have begun to come to light even before Six Flags has left bankruptcy
    Representatives of Avenue Capital, who has committed to raise $450 million in equity for Six Flags, have apparently held talks with the leadership of the rival amusement park operator
    Some bondholders speculate that a merger could greatly improve the recoveries they see from Six Flags bankruptcy case
    &nbsp;
]]></description>
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<title><![CDATA[Extended Stay Seeks to Exit Bankruptcy]]></title>
<link>http://www.secondmarket.com/articles/extended-stay-seeks-to-exit-bankruptcy.html</link>
<pubDate>Tue, 09 Mar 2010 00:00:00 -0600</pubDate>
<description><![CDATA[
    Extended Stay filed a plan of reorganization on Friday proposing that its secured lenders join Paulson &amp; Co and Centerbridge Partners to provide exit financing for the hotel chain
    Paulson &amp; Co and Centerbridge will invest a total of $225 million for a 22.5% stake in the company, while the holders of $4.1 billion in mortgage debt will receive new mortgage notes totaling $2.5 billion and a 55% stake
    Extended Stay also plans to raise $225 million through a rights offering...]]></description>
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<title><![CDATA[Lyondell files restructure plan, rejects Reliance bid]]></title>
<link>http://www.secondmarket.com/articles/lyondell-files-restructure-plan-rejects-reliance-bid.html</link>
<pubDate>Mon, 08 Mar 2010 00:00:00 -0600</pubDate>
<description><![CDATA[
    Lyondell has rejected a takeover bid by Reliance and will move forward with its own reorganization plan
    As part of the restructuring plan, Lyondell will issue 263.9 Class B shares on the NYSE, with the offering being backstopped by Apollo, Ares and Access
    The three private equity shops can invest $1.52 billion, $475.7 million and $805.9 million respectively
]]></description>
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<title><![CDATA[Mall Operator Given Extra Time to Reorganize]]></title>
<link>http://www.secondmarket.com/articles/mall-operator-given-extra-time-to-reorganize.html</link>
<pubDate>Fri, 05 Mar 2010 00:00:00 -0600</pubDate>
<description><![CDATA[
    General Growth Properties has been granted a four month extension of the exclusivity period in which it has the sole right to file a plan of reorganization
    The extension gives the company time to work out to details of a recapitalization plan with Brookfield Asset Management and fend off an unsolicited $10 billion bid by Simon Property Group
    Simon had requested that the court only extend the exclusivity period by 45 days, arguing that a longer extension would impede the efforts...]]></description>
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<title><![CDATA[General Growth Can Reorganize $500 Million in Loans]]></title>
<link>http://www.secondmarket.com/articles/general-growth-can-reorganize-500-million-in-loans.html</link>
<pubDate>Thu, 04 Mar 2010 00:00:00 -0600</pubDate>
<description><![CDATA[
    General Growth properties has won court approval to reorganize $500 million in loans, bringing its reorganized debt total up to $11.6 billion
    GGP now only has $2.8 billion in property loans that it plans to restructure
    A bidding war for GGP&rsquo;s assets with Brookfield Asset Management serving as the stalking horse bidder and Simon Property Group already making an unsolicited $10 billion offer
    &nbsp;
]]></description>
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<title><![CDATA[Judge backs Madoff trustee]]></title>
<link>http://www.secondmarket.com/articles/judge-backs-madoff-trustee.html</link>
<pubDate>Wed, 03 Mar 2010 00:00:00 -0600</pubDate>
<description><![CDATA[
    The judge overseeing the Madoff bankruptcy has ruled that claim amounts should be based on total capital invested with the firm rather than on the last account statement issued prior to the uncovering of the fraud
    As the judge pointed out, the content of the account statements were entirely fictitious and as such should have no bearing on the distribution of funds recovered by the trustee
    The ruling brings the total claims pool down to about $21 billion, significantly lower than...]]></description>
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<title><![CDATA[Resort Linked to Woods Apology Files for Bankruptcy]]></title>
<link>http://www.secondmarket.com/articles/resort-linked-to-woods-apology-files-for-bankruptcy.html</link>
<pubDate>Wed, 03 Mar 2010 00:00:00 -0600</pubDate>
<description><![CDATA[
    RQB Resort LP, the owner of Sawgrass Marriott Resort, has filed for bankruptcy, listing assets and liabilities each as much as $500 million
    The resort owes Goldman Sachs $192.5 million from mortgage debt taken on during its acquisition in 2006
    While the two parties were originally working toward restructuring the debt, Goldman apparently had an 11th hour change of heart, deciding instead to foreclose on the property
    &nbsp;
]]></description>
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