Legislation has been proposed on Capitol Hill that would dramatically change U.S. antitrust laws by giving the government greater power to sue foreign oil producers and prevent mergers and acquisitions between domestic oil and gas companies.
The European Commission has launched an investigation into €16 million in state aid granted to Italian utility AEM Torino SpA as part of an effort to help the company withstand the liberalization of the Italian energy sector.
The European Commission has taken formal disciplinary action against seventeen European Union member states after an investigation revealed the states were not in compliance with the country’s energy laws.
In a move that reflects a growing concern over alleged Paris-backed protectionism, the European Commission has taken formal action against France for its national decree designed to impede foreign investment in strategic areas of industry.
Looking to slim down before it emerges from bankruptcy protection, power producer Calpine Corp. announced Tuesday that it plans to sell 20 power plants and close three of its offices as part of its restructuring objective to trim its annual costs by $150 million.
In a spectacular kickoff, the Enron defense launched its counterattack on federal prosecutors this week by calling its first four witnesses—all former Enron employees—as the trial continues to approach its boiling point, with former Enron executives Jeff Skilling and Ken Lay expected to take the stand within the next few weeks.
An investigation into whether European Union member states are in compliance with the country’s energy laws has prompted regulators to charge several states for failing to follow the rules, marking the European Commission’s latest move in its shake-up of the gas and electricity markets.
A reorganization plan has been finalized for the Swiss/Swedish technology group ABB Ltd. and its U.S. unit Combustion Engineering, Inc., concluding years of legal wrangling involving asbestos-related charges.
Beleaguered power producer Calpine Corp. has asked the bankruptcy court to authorize a $35-million payment to CPN Insurance Corp., fearing that its internal insurance company will slip into insolvency without the financial boost.
Mapping out how it will compensate creditors and asbestos personal-injury victims, Owens Corning has filed a fifth amended version of its Chapter 11 reorganization plan.
After lingering in court-supervised restructuring for the past 26 months, Canadian steel maker Stelco Inc. expressed confidence that it will emerge from bankruptcy proceedings by midnight Friday.
While the trial of former Enron executives Jeff Skilling and Ken Lay has not held many surprises thus far, some of the most explosive moments may still be yet to come, as the defense prepares to begin its arguments next week.
Enron Corp.’s international assets are slated to be purchased for close to $2 billion by a group of private equity and hedge fund managers, according to the Wall Street Journal.
As the contentious Yukos bankruptcy case continues to unfold in Russia, a U.S. judge has partially dismissed a long-standing shareholder securities lawsuit against the oil giant, citing a lack of jurisdiction.
Seven years after the U.S. Securities and Exchange Commission first asked for help from Swiss officials with its insider-trading investigation into ABB Ltd.’s purchase of a Dutch company, Switzerland’s highest court ordered officials to turn over documents to the SEC on Tuesday.
Since the shareholders won committee representation in the Calpine and Delphi bankruptcy proceedings, equity committees seem to be a growing presence in court.
Former Enron Corp. Chief Executive Officer Jeffrey Skilling can breathe a brief sigh of relief after a federal judge dismissed three counts against him Tuesday.
A former Enron Corp. accountant and a former lawyer have agreed to pay $30,000 each in response to U.S. Securities and Exchange Commission civil fraud charges over a scheme to inflate Enron’s earnings.
French energy company Suez SA has looked to European Commission regulators for help in its battle against a possible takeover by Italian company Enel SPA. Suez filed a complaint with the Commission alleging that Enel policies illegally protect it from takeover.
Suez SA, the French utility set to merge with Gaz de France SA, has rebuffed demands calling for the energy company to sell off its assets in Belgium—a condition some critics of the tie-up say is necessary for the blockbuster deal to go through.