SAN FRANCISCO (Reuters) – Bankrupt gunmaker Colt says
settlement talks with the landlord of its Connecticut factory
are being put at risk by its official committee of unsecured
creditors, which wants to bring claims over the facility’s
The committee last month filed a motion seeking an order
that would give it standing to bring and settle claims related
to Colt’s soon-to-expire lease for its West Hartford,
CHICAGO/SAN FRANCISCO, Sept 9 (Reuters) – West Coast
regional grocer Haggen has filed for bankruptcy protection,
blaming its takeover of 146 stores from rival supermarket chain
Albertsons, and plans to reorganize around its profitable
Haggen, based in Washington state, sued Albertsons last week
for damages that it said could exceed $1 billion, alleging its
rival had failed to adhere to the terms of a $300 million
purchase agreement for the stores it bought last year.
SAN FRANCISCO (Reuters) – Patriot Coal Corp’s miners said
they reached a prospective agreement with the buyers of the
bankrupt company’s assets, potentially ending a dispute that
hung over the coal producer.
The deals involve Blackhawk Mining LLC and the Virginia
Conservation Legacy Fund, which have offered to buy the assets
of the Scott Depot, West Virginia-based company.
By Jim Christie
(Reuters) – Bankrupt gun maker Colt Holdings has reached an agreement with its bondholders that will postpone the company’s rush into a controversial sale to its current private equity owner while also providing much-needed cash.
Colt will accept a loan of up to $75 million from its bondholders and other lenders to finance its operations while in bankruptcy. The company originally planned to borrow up to $20 million from its current lenders, including Morgan Stanley.
SAN FRANCISCO, June 17 (Reuters) – The Kleiner Perkins
Caufield and Byers venture capital firm should get nearly
$276,000 instead of the $973,000 it sought from former partner
Ellen Pao to cover the cost of successfully defending itself
during her discrimination lawsuit, a California judge said on
Most of the Silicon Valley venture capital firm’s award
would cover fees for its experts, Superior Court Judge Harold
Kahn said in a tentative ruling.
SAN FRANCISCO (Reuters) – A California judge has ruled the
state is obligated to pay $331 million in mortgage relief funds
it used to bolster its finances, but stopped short of ordering
that the money be turned over to homeowners hard hit by the
mortgage and foreclosure crisis.
Instead, Judge Timothy Frawley of Sacramento County Superior
Court in his ruling on Friday said it is up to Governor Jerry
Brown and lawmakers to come up with a plan to return $331
million that was part of the $25 billion National Mortgage
Settlement of 2012 when the state has money available to do so.
SAN FRANCISCO (Reuters) – The auction for bankrupt
electronic retailer RadioShack’s brand and customer data has
closed with the Standard General hedge fund posting a winning
bid of $26.2 million after objections piled up to their sale.
Standard General affiliate General Wireless, which had
already bought more than 1,700 RadioShack stores, on Tuesday won
the auction with the offer, well over its initial bid of $15
million on Monday, Adrienne Walker, a lawyer with Mintz, Levin,
Cohn, Ferris, Glovsky and Popeo, said on Wednesday.
SAN FRANCISCO (Reuters) – The auction for bankrupt electronic retailer RadioShack’s name and customer data will resume on Tuesday with bidding at $15 million, according to a lawyer tracking the sale.
The high bidder is an affiliate of the Standard General hedge fund, which acquired 1,740 RadioShack stores in April, according to Adrienne Walker of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo.
By Dan Levine and Jim Christie
(Reuters) – Silicon Valley powerhouse venture capital firm Kleiner, Perkins, Caufield and Byers aims to recover about $973,000 in costs for defending itself against charges of gender discrimination, according to a court filing on Thursday.
In March, a jury cleared Kleiner Perkins of claims it short-circuited the career of former partner Ellen Pao because she is a woman in a trial closely watched in Silicon Valley, the center of the U.S. technology industry.
By Jim Christie
(Reuters) – Personal information gathered by RadioShack Corp from shoppers is not included in its sale, the consumer privacy ombudsman in the electronics retailer’s bankruptcy case said in response to concerns shared by several states that the data could be sold.
If that changes, Elise Frejka also said in a letter on Wednesday to U.S. Bankruptcy Judge Linehan Shannon she would file a report with recommendations based on specific facts and circumstances.