George's Feed
Sep 21, 2010

Student Loan shareholder sues to bar Citi deal

WILMINGTON, Delaware (Reuters) – A Student Loan Corp (STU.N: Quote, Profile, Research, Stock Buzz) shareholder has sued to block the sale of the company by majority owner Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) because it benefits the Wall Street bank at the expense of minority investors, according to a lawsuit.

Citigroup, which owns 80 percent of the Stamford, Connecticut-based student lender, agreed last week to sell it to Discover Financial Services (DFS.N: Quote, Profile, Research, Stock Buzz) for $600 million.

Sep 17, 2010

Judge handling spill lawsuits a “straight shooter”

NEW ORLEANS (Reuters) – The judge overseeing hundreds of lawsuits spurred by BP Plc’s Gulf of Mexico oil spill brought his much-noted calm, easy manner to the first major hearing in what could be one of the most complex and costly court fights in U.S. history.

U.S. District Judge Carl Barbier, a New Orleans native, will wield huge power over the direction of the legal cases involving shrimpers, restaurant owners, injured rig workers and others seeking damage claims from BP, its Gulf oil well partners and other corporate defendants.

Sep 16, 2010

US Gulf spill judge says never too early to settle

NEW ORLEANS, Sept 16 (Reuters) – The U.S. judge overseeing
the hundreds lawsuits filed by shrimpers, restaurateurs and
others against BP Plc (BP.L: Quote, Profile, Research, Stock Buzz) (BP.N: Quote, Profile, Research, Stock Buzz) and its partners as a
result of the Gulf of Mexico oil spill urged the parties on
Thursday to consider an agreement to avoid a trial.

Most of the cases were sent from around the United States
last month to U.S. District Judge Carl Barbier in New Orleans.
He will oversee what is expected to be among the costliest and
most complex litigation in U.S. history.

Sep 16, 2010

Hearing into Gulf lawsuits opens in New Orleans

NEW ORLEANS (Reuters) – A federal judge began on Thursday sorting through hundreds of lawsuits resulting from the oil spill in the Gulf of Mexico as shrimpers, restaurateurs and others pressed their cases against BP Plc and its partners.

Most of the cases were sent from around the United States last month to District Judge Carl Barbier in New Orleans. He will oversee what is expected to be among the costliest and most complex litigation in U.S. history.

Sep 15, 2010

Oil spill lawsuits to start with clash over pace

NEW ORLEANS (Reuters) – Scores of attorneys will jam a federal courtroom on Thursday to argue for almost immediate access to emails and other documents from BP Plc (BP.L: Quote, Profile, Research, Stock Buzz) (BP.N: Quote, Profile, Research, Stock Buzz) and its business partners as the legal fight over the Gulf of Mexico oil spill heats up.

The hearing is the first major gathering of attorneys involved in the sprawling spill-related litigation since hundreds of civil lawsuits were combined before a judge in New Orleans federal court last month.

Sep 14, 2010

BP and partners say most victims not yet entitled to sue

WILMINGTON, Delaware (Reuters) – BP Plc and its partners in the blown-out Gulf well said on Monday that thousands of fishermen, seafood processors, restaurants, hotel owners and others may not yet have the right to sue over the spill, according to court papers.

BP and its partners such as Transocean Ltd and Halliburton Co said the majority of alleged victims who have brought about 400 lawsuits must first take their claims to a $20 billion fund established by BP.

Sep 13, 2010

Tribune creditors want to pursue Zell over LBO

, Sept 13 (Reuters) – Creditors of Tribune
Co want to sue Sam Zell for his $8 billion leveraged buyout of
the company, which they blame for newspaper publisher’s
bankruptcy, according to court documents filed on Monday.

The official committee of unsecured creditors asked
Delaware’s bankruptcy court to allow it to sue the billionaire
as well as others who had a role in the 2007 buyout, such as
the board of directors, large shareholders and advisers.

Sep 9, 2010

eBay stake in Craigslist restored but no board seat

/SAN FRANCISCO (Reuters) – A judge on Thursday reinstated eBay Inc’s 28.4 percent stake in Craigslist, but allowed the classifieds site to keep eBay off its board.

The mixed ruling in Delaware’s Chancery Court gave no clear victory to either of the companies, whose relationship turned from cozy to competitive and ended up in court in 2008.

Sep 9, 2010

Court allows Dollar Thrifty vote on Hertz deal

, Sept 9 (Reuters) – Car rental company
Dollar Thrifty Group (DTG.N: Quote, Profile, Research, Stock Buzz) was cleared by a Delaware court to
put its agreed $1.1 billion merger with rival Hertz Global
Holdings (HTZ.N: Quote, Profile, Research, Stock Buzz) to a vote by shareholders next week.

In a decision late on Wednesday, Chancery Court Judge Leo
Strine refused to grant an injunction blocking the vote,
scheduled for Sept. 16.

Sep 7, 2010
via Breakingviews

Barclays’ Diamond choice spices up strategy debate

Bob Diamond’s promotion to chief executive of Barclays is no surprise. The driving force behind the UK bank’s investment banking arm was a candidate for the top job back in 2004, and Barclays Capital’s rise since then — it contributed over 80 percent of the group’s pre-tax profit in the first half of 2010 — made him a shoo-in.

The question is what the decision means for Barclays’ future structure. The UK banking commission, which reports next year, is examining whether to demand that lenders separate their retail and wholesale arms. Barclays’ leaders have to consider every possible scenario.

    • About George

      "George Hay writes about the banking and property sectors. He joined from Thomson Financial News, where he was a companies correspondent. Before that he worked at United Business Media, where he was news editor of Building Magazine. He has a first in English Literature from Edinburgh University, and was nominated in two categories at the 2009 Business Journalist of the Year Awards."
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