FPA Medical to get additional funds from creditors
Article Abstract:
Physician management services provider FPA Medical Management Inc. announced it might be able to avoid bankruptcy because of $25 million supply in new funding it received from its bank creditors. It also announced that the banks are offering it a reprieve on debt payments on its previous $315 million in loan agreements through December 1, 1998. The reprieve is to allow FPA enough time to restructure, including reducing expenses and withdrawing from some markets. FPA is overdue on payments to physicians, administrative staff, computer vendors and malpractice insurers.
Comment:
To avoid bankruptcy w/$25 mil in new funding from creditors to finance payments & restructuring
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Northeast Utilities says it may not meet credit-accord terms
Article Abstract:
Northeast Utilities announced that it is unlikely to be able to fulfill the terms of a $314 million credit agreement that it made with major banks for the 1998 third-quarter. The company stated that it is engaged in talks with the banks in an attempt to restructure the terms of the agreement. Northeast is still confronted with financial problems as it works to prove the safety of its nuclear power plant in Waterford, Conn.
Comment:
Northeast Utilities announced that it is unlikely to be able to fulfill the terms of a $314 million credit agreement with banks
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Comment about this article or add new information about this topic:
Galvin must show a Motorola recovery before dismissal pressure grows intense
Article Abstract:
Motorola Inc.'s CEO, Christopher Galvin, has been given an ultimatum to improve the company by early 1999 or be replaced. Galvin announced recently that the company would take a $1.95 billion pretax charge to finance company restructuring. The plan includes closing paging and chip plants and a 10% reduction in the workforce worldwide.
Comment:
CEO, Christopher Galvin, has been given ultimatum to improve the co by early '99 or be replaced
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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