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.
Nationwide women's clothing boutique chain Francesca's Holdings Corp. and three affiliates sought Chapter 11 protection in Delaware, reporting $290.5 million in debt, citing pandemic-weakened sales and aiming for a stalking-horse led company auction.
The Third Circuit has refused to revive a proposed securities class action over private equity firm HIG Capital's roughly $360 million acquisition of Lionbridge Technologies Inc., rejecting claims that the globalization specialist issued a misleading proxy statement in seeking shareholder approval of the deal.
A bankrupt, $1 billion effort to build a 110-megawatt "molten salt" power tower secured confirmation of its Chapter 11 plan in Delaware late Thursday, moving forward a private deal to partially repay taxpayers and repair the idled Nevada generating plant.
Biotech company Vivus Inc. received approval Thursday for an amended Chapter 11 plan that provides additional recoveries for existing shareholders through a drug sale royalty settlement, after a Delaware judge rejected its earlier plan proposal because of the plan's treatment of equity.
Utah-based Lighthouse Resources Inc. and 13 affiliates opened a Chapter 11 case in Delaware with more than $256 million in secured debt Thursday, reporting plans for a partial sale forced in part by the COVID-19 pandemic's worsening of already-weak domestic demand for coal-based electricity.