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 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.