0 results for 'Simpson Thacher'
Power Company Calpine Files Year's Largest Bankruptcy
Power generation company Calpine Corp. filed for Chapter 11 late Tuesday. It is the country's largest bankruptcy this year by assets and the eighth largest in U.S. history. The builder, owner and operator of power plants cited numerous reasons for its bankruptcy petition and those of 19 affiliates. The final straw for Calpine was the Delaware Supreme Court's affirmation of a Court of Chancery ruling on litigation over the company's use of asset sale proceeds for fuel purchases.In the warped bubble that is New York, even government lawyers can fall victim to the Wall Street mystique.
The Supreme Court's Janus ruling didn't close the door to investors suing entities that didn't issue the securities they bought, according to Manhattan federal district court judge John Koetl. In a case brought by investors in EnergySolutions, he held that plaintiffs could bring Section 10(b) claims against the issuer's parent company, citing the parent's control over the issuer.
Five months after Manhattan federal district court judge Thomas Griesa ruled that Argentine pension funds held in the U.S. could be seized by former bondholders that had obtained judgments against the Republic, the bondholders returned to court with claims that Argentina was secretly moving its frozen assets out of the U.S. The result: Argentina is in contempt.
Trending Stories
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
2024 Trends Report Mid-Year Special Edition: Update on Outside Counsel Billing Rates
Brought to you by LexisNexis® CounselLink®
Download Now
AI in Private Equity: A Guide for Gaining an Early Advantage
Brought to you by Ontra
Download Now
Why Are So Many Law Firms Suddenly Embracing Digital Transformation?
Brought to you by AllRize
Download Now
2025 State Legislative Sessions
Brought to you by LexisNexis®
Download Now