Energy

  • March 31, 2006

    Owens Corning Files Fifth Amended Plan

    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.

  • March 31, 2006

    Stelco Nearing Bankruptcy Exit

    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.

  • March 30, 2006

    As Prosecution Rests, Fireworks Expected In Enron Trial

    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.

  • March 30, 2006

    Investors To Buy Enron’s Offshore Assets For $2B

    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.

  • March 30, 2006

    Judge Sacks Part Of Yukos Lawsuit

    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.

  • March 29, 2006

    Swiss To Assist SEC With Insider Trading Probe

    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.

  • March 29, 2006

    Equity Committees Take A Stand In Bankruptcy Court

    Since the shareholders won committee representation in the Calpine and Delphi bankruptcy proceedings, equity committees seem to be a growing presence in court.

  • March 28, 2006

    Judge Dismisses Four Charges In Enron Case

    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.

  • March 28, 2006

    Ex-Enron Accountant, Lawyer Settle SEC Charges

    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.

  • March 28, 2006

    Suez Looks To EC For Help With Enel

    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.

  • March 27, 2006

    French Utility Spurns Belgian Sell Off Demands

    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.

  • March 27, 2006

    E.On Seeks Green Light From Spain In Endesa Battle

    Forging ahead with its bid to acquire Spain’s biggest energy utility, German energy giant E.On AG has formally requested regulatory clearance from Spanish authorities for its €29.1 billion takeover offer.

  • March 23, 2006

    Court Vindicates EC's Merger Review Procedure

    More than four years after a blocked merger embarrassed the European Commission, the European Court of Justice has partially vindicated the regulator in a lawsuit filed by French electrical equipment maker Schneider Electric SA.

  • March 23, 2006

    Court Cuts Acadia Loose From Calpine Energy Contracts

    After an earlier plea from Acadia Power Partners LLC that bankrupt power generator Calpine Corp. was forcing it into a state of financial distress, a federal bankruptcy judge ruled Thursday that Acadia can cut its ties from Calpine and sell its energy to other utilities.

  • March 23, 2006

    Circuit Court Reverses Stolt-Nielsen Injunction

    In a landmark case that tests the boundaries of the U.S. government's amnesty program, a federal appeals court has reversed a lower court injunction blocking the U.S. from indicting a transportation service company in connection with antitrust violations in the tanker industry.

  • March 22, 2006

    Honeywell Accused Of Monopolizing Chemical Market

    Honeywell International Inc. is facing a federal antirust lawsuit for allegedly using monopoly power in a niche chemical industry to break a pricing agreement with its biggest customer for the product.

  • March 22, 2006

    Enron's Ex-Treasurer Points Finger At Lay, Skilling

    Desperate to keep Enron Corp.'s investment credit rating high, the energy giant’s top executives hatched a plan to restrict write offs and embrace increased trading risks, Enron’s former treasurer testified on Wednesday.

  • March 22, 2006

    In E.U. Energy Debate, Power Struggle Runs Deep

    The European Commission’s shake-up of the gas and electricity markets in Europe has been met with support and dissent alike. But one thing is clear: the efforts are tapping into fundamental questions over the authority of independent member states versus the union’s executive body.

  • March 21, 2006

    Calpine Seeks Control Over Ch. 11 Plan Through 2006

    Suggesting that its stint in bankruptcy court could stretch into 2007, power generator Calpine Corp. is looking to extend its Chapter 11 plan through 2006.

  • March 21, 2006

    Brazil Opens Cartel Probe Into European Firms

    The Brazilian government has opened two probes into European and Japanese power distribution companies, exploring whether the firms engaged in price fixing for equipment used to generate electricity in the country.