Delaware Law360 provides breaking news and analysis on legal and regulatory issues in Delaware. Coverage includes high-stakes litigation, policy developments, and corporate deals affecting the state.
An insurer may be held liable under New Jersey’s Consumer Fraud Act in a suit alleging a company agent fraudulently induced a woman into releasing one of its other customers from liability over a car crash, the Third Circuit said Thursday in a precedential opinion reviving her class action CFA claim.
Massachusetts retail electricity supplier Starion Energy Inc. sought refuge in Delaware bankruptcy court late Wednesday, saying it needed a Chapter 11 shield while battling a Commonwealth consumer protection action that threatened the business and more than $30 million of its cash.
Irish and Bermuda affiliates of specialty finance company Emergent Capital Inc. opened a Delaware Chapter 11 late Wednesday as their $2.8 billion life settlements investment subsidiary neared a collision with its $370 million borrowing limit.
Unsecured creditors for bankrupt aircraft manufacturer One Aviation Corp. filed an objection on Thursday claiming that $17 million in post-petition financing is insufficient to cover claims and fund the company’s Chapter 11 in Delaware and questioning the role of the debtor-in-possession lender in the bankruptcy.
The controlling shareholders of chicken producer Pilgrim’s Pride Corp. and their affiliated board members told a Delaware Chancery Court judge Thursday that breach of fiduciary duty claims lodged by minority shareholders should be tossed because the Delaware courts don’t have jurisdiction over the defendants.