The long-awaited bankruptcy of Caesars Entertainment Corp.’s debt-laden operating unit has turned into a feeding frenzy for the nation’s top restructuring firms that tees up a rematch of the two that fought to the finish in the city of Detroit’s controversial Chapter 9.
The Third Circuit has declined to reconsider its decision to remand to New Jersey state court a racketeering and securities fraud suit alleging Merrill Lynch & Co. Inc., Knight Capital Americas LP, UBS Securities LLC and others engaged in manipulative naked short-selling, according to an order filed Thursday.
Georgetown Co. has paid $64 million for a Chicago mall, while Donahue Schriber is said to have bought a San Jose, California, shopping center for $111 million and Moishe Mana has dropped $35 million on a Miami redevelopment site.
The question of whether Credit Suisse AG should get a waiver to manage roughly $2 billion in pension funds despite its guilty plea for aiding tax evasion has become a battle over how deep bank punishments should cut and could complicate future U.S. Department of Justice settlement negotiations.
A California state judge has axed a consolidated shareholder class action alleging TPG Capital LP’s $394 million purchase of Delaware corporation Arden Group Inc.’s luxury supermarket chain Gelson's stiffed shareholders to enrich Arden's board, ruling the transaction appeared to be entitled to safe harbor protection under Delaware state law.
The first major insurance acquisition of 2015 landed on the books earlier this month, spotlighting a buzzing marketplace that in recent weeks planted the spotlight on rising interest in the property and casualty segment — one deal-making attorneys say will buoy activity for the foreseeable future.
Four shareholders of American Realty Capital Properties Inc. lobbed a New York state court securities suit against the company on Thursday over its accounting irregularities in recent earnings reports, knocking ARCP for allegedly not revealing the full extent of the issue in its initial disclosure.
A New York bankruptcy judge on Friday again rejected lawsuits accusing Momentive Performance Materials Inc. bondholders of stepping on higher-ranking creditors’ collateral rights, finding no impropriety in the junior group’s receipt of $7.1 million in legal fees from the debtor.
A New York federal judge on Thursday declined to dismiss lawsuits brought by Caesars Entertainment Operating Co. Inc. noteholders challenging a $155 million refinancing deal they say ensured their debts will be wiped out in bankruptcy, ruling that the transaction was exactly what the Trust Indenture Act was designed to prevent.
Years of creative financial engineering by the private equity firms that acquired Caesars Entertainment Corp. in 2008 will test if buyout sponsors can get away with extracting as much value as possible from a bad bet while leaving creditors unpaid in bankruptcy.
The Travelers Cos. is reportedly in discussions to sell its iconic Saint Paul, Minnesota, tower, while Children's Aid is said to have leased 26,000 square feet in Harlem and Temasek is reportedly teaming up with the Singapore Tourism Board on a project to turn a part of northern Singapore into a natural heritage area.
A California federal judge on Thursday certified a class of Bridgepoint Education Inc. shareholders who claim the company misled them about the chances that its largest university would remain accredited, saying investors likely relied on the alleged misrepresentations during trading.
RadioShack Corp. on Thursday hit a deadline to come up with $100 million to keep in compliance with its reworked credit facility, amid new reports that the troubled electronics retailer may file for bankruptcy protection as soon as early February.
A dark chapter in a stockbroker's life could end up haunting his firm now that the Financial Industry Regulatory Authority has announced plans to probe compliance with rules on reporting things like convictions and liens that are disclosed in a public database about the industry's roughly 640,000 registered representatives.
Former presidential candidate Ralph Nader led the charge against Credit Suisse AG brass over whether the banking giant should be allowed to continue to manage roughly $2 billion in pension funds after pleading guilty to federal tax evasion earlier this year.
A New York appeals court on Thursday affirmed a lower court's ruling that a group of insurers can't invoke a fraud exclusion to avoid responsibility for $200 million that JPMorgan Securities Inc. paid regulators over market-timing trades, but the panel said the insurers can argue that public policy disfavors covering intentionally harmful conduct.
JPMorgan Chase is said to have launched a $7.15 billion offering of senior notes, the largest since Bank of America's offering in March 2014, while Malaysia's second-richest man is mulling becoming a cornerstone investor in the planned $3 billion initial public offering of 1MDB's power assets.
Freeport McMoRan Copper & Gold Inc.'s board has reached a $137.5 million settlement in a derivative suit over $20 billion worth of energy company acquisitions that shareholders such as the Boston retirement system said were rife with conflicts of interest.
Ex-California Public Employees Retirement System board member and former Los Angeles Deputy Mayor Alfred Villalobos, who was accused in a notorious $3 billion pay-to-play investment scheme, died of an apparent suicide roughly five weeks before he was due to stand trial, authorities confirmed Thursday to Law360.
Blackstone Real Estate Advisors LP has purchased a 22-floor Midtown Manhattan office tower that includes ground-floor retail for $165.7 million from L.H. Charney Associates Inc., according to a New York deed recorded on Wednesday.