The IMF's Christine LaGarde welcomes confirmation that a $505 million payment would beat Greece's debt deadline.
"When you stripped away its relatively heavy cost structure," the hedge fund chief believed, "there was a core...worth saving."
The maker of kitchen glassware and dishes expects to emerge from Chapter 11 within 75 days.
First-tier and second-tier lenders duke it out for control of the moribund retailer's stores and product.
The new rules would apply to short-term credit products that require consumers to pay back the loan in full within 45 days, such as payday loans.
BNP Paribas, HSBC, and Royal Bank of Scotland are told to resubmit their plans by the end of the year.
Scott Fearon, author of "Dead Companies Walking," offers a plethora of wisdom for finance executives.
Hedge fund manager Scott Fearon's book reveals how companies ensure their demise.
New elements of the methodology are designed to help determine how different creditor classes are likely to be treated when a bank fails.
Watch for a flood of Chapter 11 filings later this year if interest rates are raised, a prominent bankruptcy attorney warns.