The delinquency rate on loans on hotel properties, packaged into commercial mortgage-backed securities rose by 7.3% last month, Fitch Ratings said. Full Story
McGrath's Publick Fish House, a Salem, Ore.-based chain of 20 restaurants located in Arizona, Idaho, Oregon, Utah and Washington, filed for Chapter 11 bankruptcy, the Portland Business Journal reported. Full Story
Cross Canyon Energy, a Spring, Texas-based gas and oil exploration and development company, said it filed a prepackaged Chapter 11 bankruptcy. Full Story
TCW Group cut fees on two distressed debt funds with about $3 billion in assets to satisfy investors, Bloomberg Businessweek reported. Full Story
Imperial Capital Group, a Los Angeles-based investment bank that specializes in high-yield and distressed debt, postponed its $113 million initial public offering, Bloomberg reported. Full Story
Spheris, a Franklin, Tenn.-based provider of clinical documentation technology and services, filed for Chapter 11 bankruptcy and agreed to be sold to MedQuist Inc. Full Story
Fifth Third Bank sued thoroughbred horse breeder Zayat Stables in December over an alleged default on a $34 million senior secured facility, and now Zayat says in a Chapter 11 petition that it was forced to file after Fifth Third changed its mind about a proposed restructuring plan. Full Story
Eaglepoint Advisors, a San Francisco-based turnaround, restructuring and crisis management firm focused on middle market retail and consumer goods companies, appointed former Radia International and Polaroid Corp. Full Story
Apollo Global Real Estate Management said it formed a new Asia Pacific group, to be headed by former Holdfast Capital CEO Grant Kelley, which will invest in distressed assets in Australia and Asia. Full Story
Lawrence E. Rifkin, a former partner with the law firm McGuireWoods in Tysons Corner, Va., joined Greenberg Traurig to lead the firm's new business reorganization and bankruptcy practice for Virginia and Washington, D.C. Full Story
In San Francisco, a 15-story office building in the heart of the financial district was acquired by Pacific Resources Stevenson for $24.2 million in cash. The discount of 40% was enough to get the Taiwan-based player off the sideline. Full Story
Conflicting court decisions regarding Rule 2019 of the Federal Rules of Bankruptcy Procedure are leading to more motions and appeals as distressed debt investors and their attorneys await revisions to the rule, which requires members of creditor committees to disclose information about their interests. Full Story
Dozens of investors have raised billions of dollars to buy distressed hotel assets. But most of that money is unlikely to be spent until 2011 at least, as analysts expect relatively few hotels to be sold this year. Full Story
- Distressed Debt Funds Earned 8.9% Returns in '00s, Hennessee Says
- CMBS Delinquencies to Rise until 2012, Fitch Says
- GSO/Blackstone to Acquire Management Contracts from Allied's Callidus
- Prudential Capital Partners Closes $965M Mezz Fund
- South Florida Repos Escalate
- Clearlake Capital Closes $410M Special Situations Fund
- Morris Publishing Files Prepackaged Bankruptcy
- Retail Development in Kansas Falters
- Chesapeake Lodging Reduces IPO By 40%
- Trenwith Securities Becomes BDO Capital Partners
- Siguler Guff Adds Owayda to Management Team
- Industrial Opportunity Partners Names Business Development Director





