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Report On Corporate Bankruptcy Reform Expected In December 2014

Bankruptcy Codes rules for struggling businesses. The report could provide a template for U.S. lawmakers, should they ever be convinced that Chapter here. 11s current rulesestablished in 1978dont work efficiently in todays business world. About 150 bankruptcy professionals have been pulled into the effort by the American Bankruptcy Institute, a restructuring industry trade group. After about 18 months of listening to testimony (watch it here ) from the industrys brightest minds, commissioners on the project will enter what Maine bankruptcy attorney Robert Keach described as a more deliberative phase. The report could recommend shifting power among company executives, shareholders, bankruptcy judges, unions, landlords and regulators.
For the original version including any supplementary images or video, visit http://blogs.wsj.com/bankruptcy/2013/12/16/report-on-corporate-bankruptcy-reform-expected-in-december-2014/

Hartford Said to Consider Sale of Corporate-Owned Life Business

The company last week completed the $285 million sale of its U.K. variable-annuity business to Berkshire Hathaway Inc., and in January sold a life-insurance unit to Prudential Financial Inc. Shannon Lapierre , senior vice president for communication at the Hartford, Connecticut-based company, declined to comment. Paulson pressed Hartford Chief Executive Liam McGee to split the company in two last year, after a stock slump in 2011. Paulson was Hartfords biggest investor at the time, with an equity stake of more than 8 percent. The insurers shares shares have more than doubled in the past two years, giving it a market value of about $15.7 billion.
For the original version including any supplementary images or video, visit http://www.bloomberg.com/news/2013-12-17/hartford-said-to-consider-sale-of-corporate-owned-life-business.html

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