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Top News & Analysis Delaware

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  • WILMINGTON, Del., June 12- A top executive of bankrupt Corinthian Colleges Inc on Friday detailed the for-profit higher education company's executive pay and recent financial dealings, as creditors began the hunt to find money to repay what they are owed. Corinthian Chief Financial Officer Robert Owen spent four hours in a windowless government conference...

  • NEW YORK, June 10- Wall Street's industry-funded watchdog is crafting guidance that would give brokers clarity about delaying transactions made by investors whom they believe may be suffering from dementia or are being influenced by caregivers, its chief said on Wednesday. The issue is a high priority for the Financial Industry Regulatory Authority, said...

  • June 9- Boomerang Tube LLC, a maker of pipes and tubes for oil and natural gas companies, filed for Chapter 11 bankruptcy protection on Tuesday, becoming the latest victim of the slide in oil prices. St. Louis, Missouri- based Boomerang Tube, which was bought by Access Tubulars LLC in 2008, said it had total assets of about $299 million and total liabilities of about...

  • WASHINGTON, June 8- The U.S. Department of Education said on Monday it was moving to forgive much of the federal student debt of some of the 78,000 students who had attended the now-bankrupt Corinthian Colleges. Santa Ana, California- based Corinthian, which had operated the Heald College, Everest and WyoTech schools and offered degrees in healthcare and trades,...

  • June 5- Orexigen Therapeutics Inc and partner Takeda Pharmaceutical Co Ltd said they had filed a lawsuit against Actavis Plc to block a generic version of diet-pill Contrave. The lawsuit, filed at a Delaware district court, alleges that Actavis has infringed patents on Orexigen and Takeda's weight-loss treatment. Actavis and Teva Pharmaceutical Industries...

  • WILMINGTON, Del., June 1- The judge overseeing the $42 billion bankruptcy of Energy Future Holdings Corp, Texas's biggest power company, scolded warring lawyers in the case on Monday for what he called their "unnecessarily expensive and counterproductive" bickering. Judge Christopher Sontchi in Wilmington, Delaware, made the comments as he extended to the end of...

  • *Intel to buy Altera for $16.7 bln. June 1- Wall Street was set to open higher on the first day of the month, helped by an almost five percent rally in Chinese stock markets and ahead of a string of domestic economic data. "It's the first day of the month and news out of China is bullish," said Andrew Barber, chief market strategist at Eagleview Capital in Delaware.

  • WASHINGTON, May 29- Alpha Natural Resources Inc no longer qualifies for a government program that subsidizes a share of mine cleanup insurance, requiring the coal company to find another way to cover roughly $400 million in liabilities, Wyoming officials said on Friday. "At the end of the day, the rules for self bonding are very clear," said Keith Guille, a spokesman...

  • May 29- Alpha Natural Resources Inc said it was notified by Wyoming's environment department that it no longer qualified for "self bonding," which allowed the coal miner to avoid insurance or provisions of about $400 million for cleanup of mines. The news comes a day after a Delaware judge asked Alpha Natural to pay for the legal defense of Donald Blankenship, the...

  • May 28- A Delaware jury on Thursday ordered Boston Scientific to pay $100 million to a woman who said she was injured by transvaginal mesh, a device that is the subject of more than 25,000 lawsuits against the company. The 51- year old Newark, Delaware- resident was implanted with Boston Scientific's Pinnacle and Advantage Fit mesh products in 2009, to treat...

  • May 28- Alpha Natural Resources Inc must pay for the legal defense of Donald Blankenship, who is facing a criminal trial over a coal mining disaster in 2010, when he headed Alpha's Massey Energy Co business, a Delaware judge ruled on Thursday. The indictment also said that after the explosion, he misled the U.S. Securities and Exchange Commission about Massey's...

  • NEW YORK, May 27- Comedian Tracy Morgan and other people injured in a crash with a Wal-Mart Stores Inc truck last year have reached an out-of-court settlement for an undisclosed sum with the world's largest retailer, court documents filed on Wednesday showed. His lawyer and Wal-Mart's lawyers did not immediately respond to requests for comment.

  • Wal-Mart, Tracy Morgan settle lawsuit related to accident Wednesday, 27 May 2015 | 3:51 PM ET

    May 27- Wal-Mart Stores Inc said it settled a lawsuit with the representatives of comedian Tracy Morgan and two others, who were seriously injured in an accident involving its truck. Wal-Mart had already settled with his children. McNair, Morgan and others were returning from a performance in Delaware when the limousine bus they were traveling in on the New...

  • CHICAGO, May 27- The operating unit of Caesars Entertainment Corp received court approval on Wednesday to remain in control of its bankruptcy for another six months. Bankruptcy Judge Benjamin Goldgar in Chicago allows the country's largest casino operator to pursue its plan for cutting its $18 billion debt without the threat of a rival plan from creditors.

  • May 27- A nun-turned-developer was ordered to pay nearly $1 million for lavish spending and for hiring an ex-con known as Frankie the Fish while building a Mississippi casino, a court ruled on Wednesday. Sandra Manno, a one-time mayor of Marlton, New Jersey, who had spearheaded a vote to legalize gambling in the state, was ordered by a Delaware judge to pay $970,123...

  • May 26- The U.S. Supreme Court ruled on Tuesday that bankruptcy judges can resolve disputes that otherwise would have to be decided in a federal court, in an opinion tied to the legal legacy of the late Anna Nicole Smith. The 6-3 ruling, which stemmed from the Chapter 7 bankruptcy of Richard Sharif of Chicago, recognized the authority of U.S. bankruptcy judges to...

  • US STOCKS-Wall St shrugs off weak data to inch higher Thursday, 21 May 2015 | 10:22 AM ET

    *Lumber Liquidators plunges after CEO resigns. *CVS up on $10.1 bln Omnicare deal. May 21- U.S. stocks moved higher in morning trading on Thursday as investors shrugged of fresh batch of weaker-than-expected data, which came a day after the Federal Reserve all but ruled out an interest rate hike in June.

  • *Lumber Liquidators plunges after CEO resigns unexpectedly. *Best Buy rises; NetApp falls after results. *CVS up on $10.1 bln Omnicare deal.

  • UPDATE 1-U.S. judge rules RadioShack IP auction was fair Wednesday, 20 May 2015 | 4:13 PM ET

    May 20- A U.S. bankruptcy judge on Wednesday cleared the way for RadioShack Corp to sell its brand name and customer data to a Standard General affiliate for about $26 million, rejecting a competing bidder's claim that the auction process was unfair. Those matters were the last major hurdles to the bankrupt electronics chain's plan to sell its intellectual...

  • WILMINGTON, Del., May 19- The bankruptcy of Corinthian Colleges Inc, one of the biggest for-profit college chains, has set off a scramble to find a way to wipe away billions of dollars of student loans for those who attended its campuses. The groups, including the National Consumer Law Center, said the Department of Education had the authority because Corinthian...