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Top News & Analysis Delaware

  • WILMINGTON, Del., July 26- A U.S. bankruptcy judge on Wednesday gave Elliott Management Corp 11 more days to formalize its plans to bid on Oncor Electric Delivery Co before the court approves the $9 billion offer for the utility from Berkshire Hathaway Inc.. Judge Christopher Sontchi of the Delaware bankruptcy court pushed back the hearing for the approval of...

  • WILMINGTON, Del., July 26- Warren Buffett's Berkshire Hathaway Inc will walk away from its $9 billion acquisition of Oncor Electric Delivery Co if the deal is delayed, an attorney for the parent company of Texas' largest utility told a bankruptcy judge on Wednesday. Energy Future Holdings Corp, the bankrupt owner of Oncor, disclosed Berkshire Hathaway's warning...

  • WILMINGTON, Del., July 26- Warren Buffett's Berkshire Hathaway Inc will walk away from its $9 billion acquisition of Oncor Electric Delivery Co if the deal is delayed, an attorney for the parent company of Texas' largest utility told a bankruptcy judge on Wednesday. Energy Future Holdings Corp, the bankrupt owner of Oncor, disclosed Berkshire Hathaway's warning...

  • Halting the litigation would help Takata sell its healthy business to Key Safety Systems, which is owned by China's Ningbo Joyson Electronic Corp, according to TK Holdings Inc, the U.S. unit. Funds from that $1.6 billion proposed sale will be used to compensate injured drivers, according to court papers filed in the U.S. Bankruptcy Court in Wilmington, Delaware.

  • July 17- A U.S. appeals court ruled on Monday that a patent on Takeda Pharmaceutical Co Ltd's cancer treatment Velcade is valid, pushing back the date when generic drug makers including Teva Pharmaceutical Industries Ltd and Mylan NV will be allowed to launch lower-cost versions of the drug in the United States. The U.S. Court of Appeals for the Federal Circuit...

  • WILMINGTON, Del./ NEW YORK, July 17- The global recall of Takata Corp's defective air bags widened last week and the number of confirmed deaths rose, but legal experts said the bigger worry for car companies caught in the fallout is playing out in a Delaware bankruptcy courtroom. The car companies have been trying to use the bankruptcy to limit their liability for...

  • WILMINGTON, Del., July 12- An attorney for Elliott Management on Wednesday complained to a bankruptcy court judge that the owner of Texas's largest power distribution business did not provide the investment fund with information needed to line up financing for its offer of more than $18 billion to buy the company. Instead, Energy Future Holdings Corp, the...

  • July 11- Oil producer Halcon Resources Corp said on Tuesday it would sell assets it operates in the Williston Basin to Bruin E&P Partners for $1.4 billion in cash, as it looks to focus on the more lucrative Delaware Basin. "The sale of our Williston Basin operated assets transforms Halcon into a single-basin company focused on the Delaware Basin where we have more...

  • WASHINGTON, July 6- More than one-third of U.S. states on Thursday sued the U.S. Education Department and Secretary Betsy DeVos over the recent suspension of rules that would have swiftly canceled the student-loan debt of people defrauded by Corinthian Colleges Inc and other for-profit schools. Massachusetts, 17 other states and the District of Columbia said...

  • A seven-member official committee will represent economic loss and personal injury or tort claimants, David Buchbinder, a lawyer with the U.S. Department of Justice's bankruptcy watchdog, told a meeting of creditors of Takata's U.S. business. Takata filed for bankruptcy in Japan and the United States last month, facing billions of dollars in liabilities from...

  • WASHINGTON, July 6- More than one-third of U.S. states on Thursday sued the U.S. Education Department and Secretary Betsy DeVos over the recent suspension of rules that would have swiftly canceled student-loan debt of people defrauded by Corinthian Colleges Inc and other for-profit schools. Massachusetts, 17 other states and the District of Columbia said in a...

  • WASHINGTON, July 6- More than one-third of U.S. states on Thursday sued the U.S. Education Department and its secretary, Betsy DeVos, over a recent decision to suspend rules intended to speedily cancel student-loan debt of people defrauded by for-profit Corinthian Colleges Inc and others. Massachusetts, 17 other states and the District of Columbia said in a...

  • July 5- True Religion Apparel Inc, whose heavily adorned denim jeans have fallen out of fashion, filed for bankruptcy on Wednesday with a deal in hand to slash its debt of about $500 million and emerge from court protection quickly as a going concern. The retailer joins American Apparel LLC, Payless ShoeSource Inc and other chains in bankruptcy as shoppers...

  • July 5- U.S. denim retailer True Religion Apparel Inc said on Wednesday it filed for bankruptcy protection and signed a restructuring agreement with a majority of its lenders. True Religion, a company whose denims have gradually fallen out of style, filed for creditor protection under Chapter 11 in the U.S. bankruptcy court in the District of Delaware, and listed...

  • July 5- Embattled retailer True Religion Apparel Inc said on Wednesday it filed for bankruptcy protection and signed a restructuring agreement with a majority of its lenders. True Religion, a U.S. denim company whose signature products have gradually fallen out of style, filed for creditor protection under Chapter 11 in the U.S. bankruptcy court in the...

  • *Deal to sell six reactors to India might close in 2018. *Deal to sell six reactors to India might close in 2018. NEW DELHI, July 3- The U.S. administration has told India that Westinghouse Electric Co will emerge from bankruptcy and be sold by the year end, industry and diplomatic sources have said, raising the prospect of a Washington- supported sale or bailout for the...

  • The board set July 19 as the record date for the spinoff of Brighthouse Financial Inc, with shares to be distributed on Aug. 4, subject to approval by the U.S. Securities and Exchange Commission, the company said. On Wednesday, Delaware insurance regulators approved Brighthouse's request to acquire key MetLife businesses operating in Delaware and do business in...

  • WILMINGTON, Del./ BOSTON, June 29- Sprint Corp used confidential information from its alliance with RadioShack Corp to open competing mobile phone stores, dooming the comeback by the electronics retailer and destroying jobs, according to a lawsuit filed on Wednesday by RadioShack creditors. RadioShack emerged from bankruptcy in 2015 with a deal to co-brand...

  • The board set July 19 as the effective date for the spinoff of Brighthouse Financial Inc, with shares to be distributed on Aug. 4, subject to approval by the U.S. Securities and Exchange Commission, the company said. On Wednesday, Delaware insurance regulators approved Brighthouse's request to acquire key MetLife businesses operating in Delaware and do...

  • WILMINGTON, Del., June 27- Lawyers for people injured by exploding Takata Corp air bags told a U.S. bankruptcy court judge on Tuesday that the company's restructuring plan is being skewed to benefit automakers over victims. TK Holdings Inc, the U.S. business of Takata, filed for Chapter 11 bankruptcy on Sunday due to tens of billions of dollars of liabilities from...