A USD800 million settlement between feeder fund Kingate Management and bankruptcy trustee Irving Picard has collapsed. The Justice Department ruled out feeder funds from payouts out of the USD2.35 billion Madoff Victim Fund.
Legal & Regulatory
Nevada regulators approve Bally Technologies-SHFL Entertainment merger in just over an hour
The planned merger between Bally Technologies and SHFL Entertainment received recommendations for approval from the Gaming Control Board and the Nevada Gaming Commission without any questions.
Founder Securities to exit from Credit Suisse joint venture - filing
The fate of the joint venture firm of Founder Securities and Credit Suisse have yet to be known after the former reveals its plans to sell its stake in the joint venture and merge with China Minzu Securities.
Opponents of Empire State IPO asks appeals court to declare buyout provision illegal
Investors who had opposed the initial public offering of the Empire State Building asked a Manhattan appeals court to rule a USD 100 per unit buyout provision in the IPO plan illegal.
Automattic, a Wordpress hosting company will finally stand up to bogus DMCA takedowns
Automattic, a Wordpress hosting company would be facing claims via its lawyer Paul Sieminski with regard to fraudulent uses of the Digital Millennium Copyright Act (DMCA).
Latest News
Judge Thomas Bennett of the US Bankruptcy Court in Birmingham, Alabama approved Jefferson County's debt restructuring plan to exit bankruptcy after a 14-hour hearing on Thursday, November 21.
Officials of Jefferson County in Alabama said it had arrived at a new agreement with its Wall Street creditors that would pave the way for its exit from its USD 4.2 billion bankruptcy.
Harvard University has resorted to suing Chime Master Systems over a dispute over a cracked church bell a few months after the installation of a new clapper unit.
Deutsche Telekom announced on Thursday that it would be selling its 70 percent stake of Scout24 to the SF-based Hellman & Friendman group while still retaining a 30 percent stake. The deal is worth 2 billion EU.
The scheduled $35.1 bilion tie-up of both advertising giants Omnicom and Publicis, would be pushed to mid-2014 as the latest date, as announced by both Chief Executives on Thursday.
Spanish telecom group, Telefonica, announced on Thursday that it was open to talks about mergers, acquisitions and deals to share its networks in Mexico in order to streamline its operations.
Catalyst maker Johnson Matthey beat its own expectations with a 13-percent rise in profit, lifted by tighter European rules on emissions due to come into force in January.
Billionaire and IAC/InterActiveCorp Chairman Barry Diller said Aereo Inc may get as much as 35% of US households to use its service once it overcomes the lawsuits filed against it by broadcasters.
The city of Detroit has paid around USD23 million in fees to lawyers, consultants and financial advisers as it awaits a court decision determining its eligibility for bankruptcy protection from creditors.
