George's Feed
Sep 28, 2010

Tribune in Oaktree deal, could leave Chapter 11

, Sept 28 (Reuters) – Bankrupt newspaper
publisher Tribune Co (TRBCQ.PK: Quote, Profile, Research, Stock Buzz) said on Tuesday it reached an
agreement with two hedge funds that would settle some claims
related to its 2007 leveraged buyout and clear the way for it
to exit Chapter 11.

Tribune’s bankruptcy has been mired in a battle among
creditors over who is to blame for the company’s failure, which
came less than year after real estate developer Sam Zell
completed a deal to take control of the company using piles of
debt.

Sep 28, 2010

U.S. court invalidates Sanofi’s Taxotere patents

, Sept 28 (Reuters) – Two Sanofi-Aventis SA
(SASY.PA: Quote, Profile, Research, Stock Buzz) patents on the cancer drug Taxotere were invalidated
by a U.S. court on Monday, clearing the way for Hospira Inc
(HSP.N: Quote, Profile, Research, Stock Buzz) to launch a generic version by the end of the year.

Delaware District Court Judge Gregory Sleet ruled that the
Taxotere patents were invalid because the invention was obvious
and the French drugmaker obtained the patents improperly.

Sep 27, 2010

Al Gore’s lawyer seeks to lead BP oil spill cases

WILMINGTON, Delaware (Reuters) – A high-profile attorney who represented former Vice President Al Gore in the 2000 presidential election recount has made a surprise bid to lead the mammoth U.S. legal cases tied to the Gulf oil spill.

David Boies, a New York litigator, is entering a crowded field of plaintiffs’ lawyers also angling for a prime role in the lawsuits against BP Plc and other corporate defendants.

Sep 22, 2010

Blockbuster expected to file Chapter 11: source

NEW YORK/Wilmington, DELAWARE (Reuters) – Blockbuster Inc is preparing to file for Chapter 11 bankruptcy within the next few days, a source familiar with the video rental chain’s plans said on Wednesday.

The Dallas-based retailer said earlier this year it would close nearly 10 percent of its stores. Customers have moved away from renting films through its outlets in favor of online services such as Netflix.

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.

    • 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."
    • Follow George