In a bid to block a €22-billion takeover deal, Endesa, Spain's largest electricity supplier, has launched an attack against Gas Natural SDG SA in a U.S. federal court, alleging the company made false and misleading disclosures in its move to acquire Endesa.
In another step forward in its restructuring procedures, the new chief financial officer of bankrupt power producer Calpine Corp., Scott Davido, will also serve as the company’s chief restructuring officer, according to the company.
Investigating whether France illegally blocked an Italian utility company’s takeover bid, the European Commission ordered France to explain by March 17 the events that resulted in a merger between two French energy companies, Suez and Gaz de France.
After a courtroom outburst last month, a bankruptcy court judge has extended steel company Stelco Inc.’s bankruptcy protection until the end of March.
In an effort to prompt an investigation into a planned merger between two French energy giants, the Italian utility company Enel sent a memorandum to the European Commission Thursday.
Energy provider CMS Energy Corp. will pay $28 million to settle two consolidated class action lawsuits filed on behalf of beneficiaries of the company’s employee savings plan.
The utility company Allegheny Energy Inc. announced in its annual report that the Securities and Exchange Commission has completed its probe, which dates back to 2004, into the energy company’s accounting affairs.
In a move that promises to shield ABB Ltd. from future asbestos litigation troubles, a bankruptcy court has approved the amended reorganization plan of the Swiss/Swedish engineering group’s U.S. subsidiary, Combustion Engineering.
The European Union is considering legal action against the French government amid complaints about inadequate responses to what the Commission charges is France’s protectionist behavior concerning foreign takeovers.
Rejecting claims of gasoline price fixing, The U.S. Supreme Court has tossed out an antitrust lawsuit that accused oil giants Shell Oil Co. and Texaco Inc. of artificially inflating gas prices by over $1 billion.
In a hastily arranged move to fend off a hostile bid from Italy’s power company Enel, Gaz de France SA said it will take over the energy and water supplier Suez SA in a €39 billion merger.
European Union officials are investigating the proposed merger of two Canadian mining companies, which could violate European Commission competition regulations by leading to price increases in the narrowing nickel production industry.
The former chief accountant for Enron Corp.’s trading division admitted at Monday’s trial to using Enron’s reserve accounts to boost the company’s reported earnings.
Chemical products maker Solutia Inc., a spin-off of chemical giant Monsanto Co., will receive an additional $300 million in debtor in possession financing and an extension of more than nine months to its current financing deal as the company struggles to emerge from Chapter 11.
The unsecured creditors in the Integrated Electrical Services bankruptcy have brought in Weil, Gotshal & Manges to go to bat for them, after a bankruptcy court judge approved an $810 an hour fee for Weil partner Marcia Goldstein.
Galvex Capital LLC’s committee of unsecured creditors requested the retention of its counsel, DLA Piper Rudnick Gray Cary US LLP, in a strategic move to help the company emerge from Chapter 11 bankruptcy.
A judge has granted several requests made by newly bankrupt Integrated Electrical Services, clearing the way for the company to seek permission to solicit creditor support for its reorganization plan as early as next month.
A class action lawsuit alleging price fixing has been filed against several countries and their state-controlled oil companies, targeting the governments of Angola, Norway, Oman and Mexico.
In a deal that further swells record-setting payouts to aggrieved investors following Enron’s accounting scandal and bankruptcy, a federal judge in Houston is close to approving a $5.8 billion settlement from three investment banks accused of helping Enron hide massive financial losses.
Looking to alleviate defense costs for several employees mired in class action securities litigation, bankrupt power company Calpine has asked a bankruptcy court judge to allow the company’s insurers to cover the litigation expenses so employees can focus on turning around the ailing company.