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.
A Federal Reserve examiner testified Thursday in Delaware court in the criminal trial of four Wilmington Trust executives that he conducted examinations of the bank’s loan programs in 2009 and 2010 that included issues with its alleged waiver of past due loans.
Ousted American Apparel founder Dov Charney asked Delaware's Supreme Court on Thursday to reverse a Chancery Court ruling that he must pay Standard General LP $19.5 million plus interest in a dispute over his debts from a failed bid to regain control of the retailer.
The unsecured creditors committee of defunct metal fabricator Constellation Enterprises LLC will not get another shot at undoing a bankruptcy resolution that cut them out of a recovery, a Delaware federal court ruled Thursday, finding that when the case was converted to a liquidation afterwards, the committee “automatically dissolved and ceased to exist.”
Pennsylvania tax officials on Wednesday withdrew their objection to Philadelphia Energy Solutions LLC's fast-track prepack Chapter 11 plan, saying the oil refinery agreed to amend the plan to preserve the state’s right to collect on a $3.8 billion tax claim.
A bankruptcy spawned by the still unfolding Harvey Weinstein scandal has driven seven BigLaw firms into unaccustomed roles as last-paid instead of first in The Weinstein Co.'s cash-poor Chapter 11, with Boies Schiller & Flexner LLC accounting for half of the group's $20.6 million in claims.