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Top News & Analysis Delaware

  • The board of bankrupt Texas utility Energy Future Holdings will meet later on Sunday to decide whether to sell its crown jewel, power transmission company Oncor, to Buffett's Berkshire Hathaway Inc or accept an opposing bid from Sempra Energy, a person familiar with the confidential deliberations said on condition of anonymity. The rival bid for Oncor was...

  • The board of bankrupt Texas utility Energy Future Holdings will meet later on Sunday to decide whether to sell its crown jewel, power transmission company Oncor, to Buffett's Berkshire Hathaway Inc or accept an opposing bid from Sempra Energy, a person familiar with the confidential deliberations said on condition of anonymity. The rival bid for Oncor was...

  • DOVER, Del.— A Delaware judge has dismissed a class-action lawsuit filed by former stockholders of Martha Stewart Living Omnimedia over the company's 2015 acquisition by Sequential Brands. The judge said Friday that Stewart was entitled to the deference given to corporate leaders under Delaware's "business judgment" rule. The judge said that the...

  • SAN FRANCISCO, Aug 17- The ousted chief executive of Uber Technologies Inc rejected a lawsuit filed against him by one of the company's top investors as a "public and personal attack" without merit, according to court documents filed late on Thursday. Venture capital firm Benchmark Capital, which says it owns 13 percent of Uber and controls 20 percent of the voting...

  • WILMINGTON, Del., Aug 7- Puerto Rico's bankruptcy, aimed at restructuring $72 billion of debt, violates the U.S. Puerto Rico is barred from traditional municipal bankruptcy protection under Chapter 9 of the U.S. code. The fund, known for its years-long battle with Argentina over its defaulted debt, seeks to bar the oversight board from operating until it has been...

  • Bankruptcy Judge Brendan Shannon in Wilmington, Delaware, granted a 90- day halt on lawsuits brought by Hawaii, New Mexico, the U.S. Virgin Islands as well as individuals. Takata argued for a six-month freeze on hundreds of lawsuits so management could complete a $1.6 billion sale of its viable operations, crucial to its reorganization, and replace air bag...

  • DOVER, Del.— A Delaware bankruptcy judge on Wednesday temporarily halted the prosecution of lawsuits filed by Hawaii, New Mexico and the U.S. Virgin Islands against Japanese auto-parts supplier Takata over its lethally defective air bag inflators. Judge Brendan Shannon ordered the 90- day stay after hearing arguments last week on Takata's request to halt...

  • Bankruptcy Judge Brendan Shannon said on Wednesday in the Wilmington, Delaware courtroom. Takata and TK Holdings Inc, its U.S. unit, said they faced tens of billions of dollars in liabilities when they filed for bankruptcy protection in June, including claims from automakers that used its airbags and individuals who filed class-action lawsuits.

  • CARACAS, Aug 15- Canadian miner Crystallex is seeking to seize shares in a subsidiary of Venezuelan state oil company PDVSA that owns U.S. refiner Citgo as part of a dispute over Venezuela's 2008 takeover of the Las Cristinas gold mine, according to court filings. Crystallex on Monday asked the U.S. District Court in Delaware to attach shares in Delaware- based PDV...

  • Crystallex is seeking to collect on a $1.4 billion award it won via a World Bank arbitration panel in 2016.. The company on Monday asked the United States District Court for the District of Delaware to attach shares in Delaware- based PDV Holding, a PDVSA subsidiary that owns of refining and marketing company Citgo Petroleum. Companies ranging from U.S. oil giant...

  • Former Uber CEO Travis Kalanick.

    Venture capital firm Benchmark Capital is suing former Uber Chief Executive Officer Travis Kalanick to force him off the board of the ride-services company and rescind his ability to fill three board seats, according to the lawsuit. Benchmark's lawsuit marks a rare instance of a Silicon Valley investor suing the central figure at one of...

  • SAN FRANCISCO, Aug 10- Venture capital firm Benchmark Capital is suing former Uber Chief Executive Officer Travis Kalanick to force him off the board of the ride services company and rescind his ability to fill three board seats, according to the lawsuit. The statement accused Benchmark of "acting in its own best interests contrary to the interests of Uber" and...

  • SAN FRANCISCO, Aug 10- Venture capital firm Benchmark Capital is suing former Uber Chief Executive Officer Travis Kalanick to force him off the board of the ride services company and rescind his ability to fill three board seats, according to the lawsuit. The statement accused Benchmark of "acting in its own best interests contrary to the interests of Uber" and...

  • SAN FRANCISCO, Aug 10- Venture capital firm Benchmark Capital is suing former Uber Chief Executive Officer Travis Kalanick to force him off the board of the ride services company and rescind his ability to fill three board seats, according to the lawsuit. Benchmark Capital and a spokesman for Kalanick did not immediately respond to requests for comment.

  • Aug 10- Venture capital firm Benchmark Capital is suing former Uber Chief Executive Officer Travis Kalanick to force him to leave the board of the ride services company and rescind his ability to fill three board seats, according to a copy of the lawsuit obtained by news website Axios. Kalanick, who was forced out as chief executive following a series of...

  • NEW YORK, Aug 10- Payments firm PayPal Holdings Inc has agreed to acquire online lending company Swift Financial in a bid to expand its business that provides working capital to merchants. PayPal has been offering short-term loans to its smaller merchants through a division called PayPal Working Capital since 2013. The company has lent more than $3 billion to...

  • WASHINGTON— Actions by the Trump administration are triggering double-digit premium increases on individual health insurance policies purchased by many people, according to a nonpartisan study. The analysis released Thursday by the Kaiser Family Foundation found that mixed signals from President Donald Trump have created uncertainty "far outside the...

  • DOVER, Del.— A Delaware bankruptcy judge is weighing a request by Japanese auto-parts supplier Takata for an injunction prohibiting the governments of Hawaii, New Mexico and the U.S. Virgin Islands from prosecuting lawsuits involving the company's lethally defective air bag inflators. After a hearing Wednesday, the judge said he will issue an oral ruling Aug....

  • In its filing with the U.S. Bankruptcy Court in Delaware, Takata said the Chapter 15 petition was critical to ensure the "continuation of Takata's business, preserving tens of thousands of jobs and ensuring that Takata's business partners continue to have access to critical components that ensure the safety of drivers worldwide." Takata and automakers face...

  • WILMINGTON, Del./ WASHINGTON, Aug 8- Takata Corp's bankrupt U.S. business will ask a federal judge on Wednesday to suspend lawsuits against automakers that have been brought by people injured by its faulty air bag inflators, something that opponents say is an abuse of the law. Takata and TK Holdings Inc, the company's U.S. unit, filed for bankruptcy in June and said...