We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Hospitality

  • July 22, 2011

    Ace Settles With Mets Ballpark Over Injury Suit Coverage

    An Ace Ltd. subsidiary agreed Thursday to settle its suit against the developer of the New York Mets' Citi Field alleging the insurer has no duty to defend or indemnify a construction worker's bodily injury suit until the developer pays a self-insured retention.

  • July 22, 2011

    Cassa Hotel Developer's Ch. 11 Plan OK'd After Deal

    The developer behind New York's Cassa NY Hotel is on track to emerge from its brief stint in Chapter 11 following the approval of its reorganization plan Friday, three days after negotiating a way to resolve disputes with the hotel's builders.

  • July 22, 2011

    Judge Ejects Dodgers' $150M DIP Financing Plan

    A Delaware bankruptcy judge on Friday shot down the Los Angeles Dodgers’ bid for $150 million of debtor-in-possession financing from a hedge fund, leaving a pinch-loan from Major League Baseball as the team's only option to finance its reorganization.

  • July 22, 2011

    8th Circ. Tosses Anheuser-Busch ERISA Action

    The Eighth Circuit on Friday affirmed the dismissal of a putative class action accusing Anheuser-Busch InBev NV of denying pension plan participants enhanced benefits following the sale of its theme park unit to Blackstone Capital Partners VLP.

  • July 21, 2011

    Wells Fargo Files $239M Suit Over MBS Loan Default

    Wells Fargo Bank NA sued several funds associated with defunct investment firm Babcock & Brown LP for $239 million in Texas federal court on Thursday, saying the funds breached the contract on a mortgage-backed loan secured by 14 apartment complexes.

  • July 21, 2011

    Starbucks Vendor Recalls Wraps Over Bacteria Fears

    A Starbucks Corp. food supplier on Tuesday recalled ready-to-eat chicken wraps sold at the coffee chain's locations in Georgia and Alabama after tests showed they may be contaminated with potentially deadly bacteria.

  • July 20, 2011

    MLB, Dodgers Trade Hits Over $150M Ch. 11 Funding

    The Los Angeles Dodgers and Major League Baseball feuded in Delaware bankruptcy court Wednesday over who would provide a $150 million loan to fund the team’s reorganization, with the team railing against a league-sponsored alternative as a thinly veiled bid for control of the club.

  • July 20, 2011

    Harbor Wealth Exec Gets 6 Years For $5M Fraud

    An Illinois federal judge sentenced the owner and former operator of Harbor Wealth Management LLP on Tuesday to six years in prison for allegedly running an investment fraud scheme that bilked at least 150 investors out of more than $5 million.

  • July 19, 2011

    Cassa Hotel Developer Nears Ch. 11 Exit

    The developer behind New York's newly built Cassa NY Hotel on Tuesday cleared a major stumbling block in its bid to emerge from bankruptcy, negotiating a way to resolve disputes with the hotel's builders.

  • July 19, 2011

    NY Times Fires 1st In Webvention Data Patent Fight

    The New York Times Co. sued Webvention LLC in Delaware on Monday to avoid becoming the latest defendant in a series of suits the intellectual property licensing company has filed to enforce a data-organization patent.

  • July 18, 2011

    Walker Digital Ends Patent Fight Over Facebook Ads

    A Delaware federal judge on Monday dismissed a patent infringement suit against Facebook Inc. brought by Walker Digital LLC — a company led by the founder of Priceline.com Inc. — after both parties agreed to drop the case over online ads.

  • July 18, 2011

    Dodgers Creditors Say MLB Loan Deal Beats Fund Offer

    Unsecured creditors of the Los Angeles Dodgers LLC told a Delaware bankruptcy judge on Monday that a $150 million financing offer from hedge fund firm Highbridge Capital Finance LLC is inferior to a competing pitch by Major League Baseball.

  • July 18, 2011

    Pizza Hut Can’t Toss Drivers’ FLSA Action

    A Colorado federal judge on Thursday declined to dismiss a putative collective action accusing Pizza Hut Inc. of stiffing delivery drivers on auto expense reimbursements, but trimmed a claim that the company had violated the minimum wage laws of several states.

  • July 18, 2011

    Perkins Plan Would Leave Unsecureds With New Equity

    Perkins & Marie Callender’s Inc. said Friday in Delaware that it hoped to exit bankruptcy in the fall by implementing a restructuring agreement with its secured creditors and issuing equity to unsecured noteholders to whom it owes $204 million.

  • July 18, 2011

    Jenner, Weil Rep Hertz In $930M Donlen Purchase

    Fresh off its winning bid for Dollar Thrifty Automotive Group Inc., an acquisition-minded Hertz Global Holdings Inc. said Monday it would buy corporate fleet manager Donlen Corp. for $930 million.

  • July 15, 2011

    MLB Sweetens Terms In Fight For Dodgers DIP Loan

    Major League Baseball on Thursday enhanced its bid to finance the Los Angeles Dodgers during its time in Delaware bankruptcy court by offering a longer repayment that would allow the team time to negotiate a new TV contract with Fox.

  • July 15, 2011

    McDonald's, Others To Meet New Nutrition Standard

    McDonald's USA LLC, Coca-Cola Co., and 15 other food and beverage producers on Thursday agreed to comply with an industry plan to reduce the amount of calories, sodium, sugar and fat contained in products advertised to children by 2013.

  • July 15, 2011

    Ex-TPG Associate Fined In Insider Trading Case

    A federal judge in California on Thursday ordered a former associate at TPG Capital LP to fork over $112,000 for providing inside tips on planned acquisitions to a group of investors, a far cry from the $1.5 million requested by regulators.

  • July 15, 2011

    Country Club Says DuPont Herbicide Destroyed Trees

    A Michigan country club slapped DuPont Co. with a class action Friday in Delaware claiming that Imprelis — an herbicide the company touted as environmentally friendly — killed thousands of mature pine and spruce trees.

  • July 14, 2011

    Plaintiffs To Refile $1B Fly Ash Suit Against Dominion

    Lawyers for a group of Virginia residents seeking $1 billion in damages from Dominion Virginia Power for alleged exposure to coal ash said Thursday they plan to refile the lawsuit with new claims after a state judge partially dismissed the complaint.