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Top News & Analysis Delaware

  • 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...

  • 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...

  • 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...

  • 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. Aurelius owns around $3 billion of debt guaranteed by Puerto Rico's constitution.

  • District Judge Robert Mariani refused to accept Navient's argument that the Consumer Financial Protection Bureau's lawsuit must be thrown out because the regulator itself was unconstitutional, and had not enacted rules declaring specific practices unfair, deceptive or abusive. Patricia Nash Christel, a spokeswoman, said the Wilmington, Delaware- based...

  • Shares of Aetna gained 2.6 percent to $158.79, helped by stronger results not only for individual insurance but in its small and large business division and in its government-backed Medicaid and Medicare segments. Second-quarter net profit rose to $1.20 billion, or $3.60 per share, from $791 million, or $2.23 per share, a year earlier. Excluding special items,...

  • *Raises FY profit forecast to $9.45- $9.55/ shr. Republican lawmakers have vowed to repeal and replace former President Barack Obama's signature healthcare law, but have not agreed on the means of dismantling it, creating uncertainty about how the program would be run and whether it would be fully funded. Net profit rose to $1.20 billion, or $3.60 per share, in the...

  • Aetna said in May it would exit the 2018 Obamacare individual insurance market in Delaware and Nebraska- the two remaining states where it offered the plans. Net profit rose to $1.20 billion, or $3.60 per share, in the second quarter ended June 30, from $791 million, or $2.23 per share, a year earlier. Excluding items, Aetna earned $3.42 per share, beating analysts'...

  • WILMINGTON, Del., Aug 1- The Delaware Supreme Court on Tuesday reversed a lower court ruling that payday lender DFC Global Corp was sold too cheaply in 2014, but stopped short of declaring that the deal price should be a key test of fair value of a stock in a merger. The Delaware Supreme Court sent the case back to the Court of Chancery and directed Chancellor Andre...

  • WILMINGTON, Del., Aug 1- The Delaware Supreme Court reversed on Tuesday a lower court ruling that payday lender DFC Global Corp was sold too cheaply in 2014 and criticized the finding that private equity buyers do not necessarily pay fair value in merger deals. The ruling stems from a so-called appraisal action, which has become a popular strategy for hedge funds...

  • WILMINGTON, Del./ CHICAGO, Aug 1- Energy businesses that are trying to exit bankruptcy are finding a savior in some of their own creditors, which have been scooping up newly issued stock from the companies at hefty discounts. An official committee representing shareholders hopes to derail a $1 billion rights offering that the company is considering, which would...

  • WILMINGTON, Del./ CHICAGO, Aug 1- Energy businesses that are trying to exit bankruptcy are finding a savior in some of their own creditors, which have been scooping up newly issued stock from the companies at hefty discounts. An official committee representing shareholders hopes to derail a $1 billion rights offering that the company is considering, which would...

  • WILMINGTON, Del./ CHICAGO, Aug 1- Energy businesses that are trying to exit bankruptcy are finding a saviour in some of their own creditors, which have been scooping up newly issued stock from the companies at hefty discounts. An official committee representing shareholders hopes to derail a $1 billion rights offering that the company is considering, which would...