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.
Enron Corp.’s workers and retirees will receive approximately $134 million under the defunct energy company’s settlement of government and employee claims, the U.S. Department of Labor announced.
In the face of strong opposition, embattled steel maker Galvex has withdrawn its request to dismiss Chapter 11 proceedings, retreating from the motion it filed two weeks ago.
Steel maker Galvex, which last week asked a bankruptcy court to dismiss its Chapter 11 proceedings, may not have the smooth exit it anticipated. U.S. Trustee Deirdre Martini has opposed the request, questioning the circumstances that would allow the dismissal of the bankruptcy.
The Ontario Superior Court has approved bankrupt Canadian steel maker Stelco Inc.’s reorganization plan, propelling the company one step closer to emerging from bankruptcy protection.
Calpine Corp.’s recent attempts to scrap contracts signed before its bankruptcy may undermine bondholders' ability to recover their money from the power producer, according to a report released by Standard & Poor's this week.
Frustrated by the constant delays, a judge overseeing bankruptcy proceedings for Canadian steel maker Stelco Inc. exploded last week after lawyers suggested the company would not emerge from bankruptcy for another month.
After a lengthy day filled with audio and video recordings, the defense has finally completed its cross-examination of the government’s first witness in the fraud and conspiracy trial of Enron’s tarnished top executives, Kenneth Lay and Jeffrey Skilling
In a move that could have far-reaching implications, the U.S. Court of Appeals for the Federal Circuit has finally tried to clarify a concept that has often proved both ambiguous and arbitrary in its implementation: the materiality standard for inequitable conduct.
Fearing potential repercussions, creditors of Calpine Corp. have asked the U.S. Bankruptcy Court to ensure that rules are in place to prevent the bankrupt independent power producer from engaging in speculative energy trading.