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Delaware

  • July 9, 2007

    Mortgage Lenders' Creditors Push For Discovery

    Unsecured creditors of Mortgage Lenders Network USA Inc. have lashed out at a bid by the bankrupt company's primary prepetition lender to suspend discovery in the case, arguing that the request may be an attempt to frustrate an ongoing investigation of the relationship between Mortgage Lenders and an offshore affiliate.

  • July 9, 2007

    PharmaStem Blood Storage Patents Not Valid: Judge

    In an upset for PharmaStem Therapeutics, a federal appeals court has determined that Boston-based biotechnology company ViaCell Inc. and other defendants did not infringe PharmaStem’s technology for the collection and storage of umbilical cord blood.

  • July 9, 2007

    BofA Sued Over Alleged OT Hour Shaving

    A Florida woman has filed a purported class action lawsuit against Bank of America Corp. after a bank manager allegedly deleted the amount of overtime she worked from company records in an effort to receive a branch productivity bonus.

  • July 9, 2007

    Nellson, Creditors Move To End Examination

    Bankrupt diet bar maker Nellson Nutraceutical has asked the court overseeing its Chapter 11 case to end an investigation into the company that began six months ago, saying that the examiner has acted with “apparent disregard for the basic due process rights of the debtors.”

  • July 9, 2007

    Suit Against Pepper Hamilton Moves To Delaware

    A case brought against Pepper Hamilton LLP by the trustee of bankrupt Student Finance Corp. was transferred on Thursday in an attempt to further compel the law firm to turn over information pertaining to the loan company's failure.

  • July 6, 2007

    SEC Takes A Closer Look At New Century

    The U.S. Securities and Exchange Commission has stepped up its investigation into New Century Financial Corp.’s trading activity from the period before it announced sweeping financial restatements, and issued formal notice of investigation, New Century said Friday.

  • July 6, 2007

    Claimants Push Speedy Ch. 11 Exit For W.R. Grace

    A group of people with asbestos-related personal injury and property damage claims against W.R. Grace & Co. Inc. wants a judge to accelerate the specialty chemical manufacturer's bankruptcy proceedings, arguing that they are being "held hostage" to the reorganization process.

  • July 6, 2007

    Ex-Cardinal Health Execs Settle Derivative Suits

    Two months after agreeing to pay out $600 million to settle charges of securities violations, Cardinal Health Inc. said Friday it would receive $58 million stemming from the settlement of derivative suits against current and former company executives.

  • July 6, 2007

    Bally Faces Rival Chapter 11 Plan

    Though the gym giant has already secured financing for its reorganization plan, Bally Total Fitness Holding Corp. is now facing some stiff competition over its proposed exit strategy as a shareholder group tries to muscle its way into the process with a rival restructuring plan of its own.

  • July 5, 2007

    Asurion Sues Amp'd Over Premium Payments

    Asurion Insurance Services Inc. sued bankrupt telecom company Amp'd Mobile Inc. on Tuesday, alleging that Amp'd had failed to turn over insurance premiums it collected from customers to Asurion.

  • July 5, 2007

    Honeywell Lands Win In Aircraft Patent Case

    Marking a victory for aerospace and automotive giant Honeywell International Inc., the Federal Circuit has found that a smaller rival infringed Honeywell’s patent covering a final-approach flight warning system.

  • July 5, 2007

    IDT Seeks Remand Of $300M Fraud Case

    IDT Corp. fought to move its fraud case against several financial companies back to a New York state court, claiming a bankruptcy court does not have jurisdiction over willful misconduct charges under the phone company's $42.5 million purchase agreement for Winstar Communications.

  • July 3, 2007

    Bally Takes A DIP With Morgan Stanley

    Though still waiting for the go-ahead from noteholders, Bally Total Fitness Holding Corp. has already secured the funding necessary to restructure its debt and bankroll its foray into bankruptcy.

  • July 3, 2007

    Sagging Profits Force Breast Implant Co. Into Ch. 11

    One of the world's largest breast implant companies has filed for bankruptcy after at least three straight years of massive losses.

  • July 2, 2007

    Calpine Takes Aim At Rosetta In $400M Suit

    After weeks of sparring, Calpine Corp. has hauled Rosetta Resources Inc. to court for allegedly underpaying Calpine by an estimated $400 million when the energy giant sold its oil and gas assets to the independent oil and gas company for $1.05 billion.

  • July 3, 2007

    Olympus Sued Over Digital Camera Patents

    A German licensing company has filed suit against Olympus Corp. and its American subsidiary, Olympus Imaging America Inc., claiming that the Japanese electronics company’s digital cameras infringe its patents.

  • June 29, 2007

    Global Home Gets Access To More Cash

    A bankruptcy court judge has given Global Home Products the go-ahead to access more cash collateral to fund its ongoing Chapter 11 proceedings, allowing the company to tap into an additional $276,000 in financing.

  • June 29, 2007

    Judge Quells Unsecured Creditors' Fight With Dura

    A bankruptcy judge has refused to force Dura Automotive Systems to file some of its business plan publicly even though the company's unsecured creditors allege the information may have already been leaked and may have caused a spike in trading.

  • June 28, 2007

    AlixPartners Overcharged Refco, Dura: Trustees

    The U.S. Trustees in two separate Chapter 11 cases have accused AlixPartners LLP of overstaffing, overcharging and deceiving Dura Automotive Systems Inc. and Refco Inc.

  • June 28, 2007

    Bank Of New York Employees Demand Overtime

    Adding another name to the long list of banks being sued for Fair Labor Standards Act violations, Bank of New York was hit Wednesday with a putative class action by a Queens assistant branch manager who says employees were misclassified as exempt.