Constar International Holdings, which lost its contract with PepsiCo last year, filed for its third bankruptcy since 2008. Constar filed for Chapter 11 protection as it hopes to nail down its sale to Amcor Rigid Plastics USA.
Legal & Regulatory
Dutch court orders luxury jewelry retailer Tiffany & Co. to pay Swatch $449M in damages
A Dutch arbitration court on Friday ordered American luxury jewelry retailer Tiffany & Co. to pay Swiss watchmaker Swatch Group $449 million in damages over their failed 20-year joint venture.
EU mergers and takeovers
The following are mergers under review by the European Commission and a brief guide to the EU merger process.
Hong Kong court orders US hedge fund Tiger Asia to pay investors $5.8M after admitting insider trading
Tiger Asia Management, which has admitted guilt of insider trading, was ordered by a Hong Kong court on Friday to pay $5.8 million to some 1,800 local and overseas investors. No charges have been filed against the US-based hedge fund in Hong Kong.
Is it the end of Bitcoin's venture funding run?
As the hype about the Bitcoin dies, a PCWorld report asks if the well for venture funding for the digital currency has come to an end.
Latest News
In response to investigations from regulatory authorities, the Royal Bank of Scotland has banned its markets division from using multi-dealer online chat rooms, Reuters reported.
A Bloomberg report said Jack Ma and Zhang Jindong may be allowed to create phone companies in China with the possible issuance of their licenses this month.
Private equity firm Centerbridge Partners has abandoned the deal to buy bankrupt LightSquared. Centerbridge, which had offered $3.3 billion for LightSquared, is uncertain over when federal regulators would approve the company's proposed building of a wireless network.
The Tel Aviv District Court has cleared Eduardo Elsztain and Moti Ben-Moshe's rescue plan for highly indebted conglomerate IDB Holding Corp. The partnership's takeover bid has won support from IDB's bondholders and creditors this month.
JPMorgan Chase has filed a case against the Federal Deposit Insurance Corporation in a bid to recover more than a billion dollars from the government agency which managed the receivership of Washington Mutual.
The probe of the European Union involving an underwater power cable cartel is a test of the regulators' ability to penalize private equity investors and their parent firms, Bloomberg reported.
As talk about the US Federal Reserve tapering grows, a Financial Times report said markets are now more prepared should a reduction in asset purchases actually become a reality.
Three of the four largest claims against the US estate of bankrupt telecoms company Nortel Networks Inc has been resolved, reducing the bills the estate needs to settle by by $5.14 billion, said a Reuters report.
UK-based lender Barclays denied allegations that it manipulated electricity prices in California. It asked the the court to stop the US Federal Energy Regulatory Commission from collecting fines.
