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-0.000219490781387138 0 0.00120719929762949 0.000877963125548708 0.000877963125548708 0.000877963125548708 0.000877963125548708 0.000877963125548708
Stock impact report

UPDATE 1-Party City set to exit bankruptcy with $1 billion debt reduction [Reuters]

Moelis & Company Class A (MC) 
Last moelis & company class a earnings: 4/22 04:15 pm Check Earnings Report
US:NYSE Investor Relations: moelis.com
Company Research Source: Reuters
U.S. Bankruptcy Judge David Jones approved the deal at a court hearing in Houston, while acknowledging the poor outcome for individual shareholders whose shares will be wiped out. Party City simply could not repay all of its $1.4 billion in pre-bankruptcy debt and have money left over for shareholders, according to the judge. “The math is what the math is,” Jones told a shareholder who spoke up at the hearing. “It's one of those things where there simply is not an alternative.” Party City is estimated to be worth between $450 million and $750 million, the company's financial adviser Moelis & Co said in an Aug. 31 court filing. (Reporting by Dietrich Knauth in New York and Granth Vanaik in Bengaluru Editing by Nick Zieminski) Show less Read more
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