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.
Legal & Regulatory
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.
Customer lawsuits, social media ire, state attorneys general probes target Target Corp due to data breach
After a cyber attack of its systems, Target Corp now has to deal with angry customers venting on social media, customer lawsuits and probes from state attorneys general, the Los Angeles Times reported.
Investigators say overseas hackers responsible for Target cyber attack- source
Investigators think that overseas hackers were responsible for the cyber attack that compromised 40 million payment cards of Target Corp, a US retailer, Reuters reported.
Constar International Holdings, which lost its contract with PepsiCo last year, filed for its third bankruptcy in a bid to complete the sale of the company
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.
Latest News
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.
Canadian dairy firm Saputo Inc, following a probe by Australia's Takeover Panel, said that it will raise and extend its takeover offer for Warrnambool Cheese and Butter Factory Holdings Co.
US District Judge Robert Sweet ruled that Nasdaq OMX Group Inc needs to face the cases filed against it by investors who claimed that the exchange platform was responsible for the bungled Facebook IPO, Reuters reported.
The Delaware Supreme Court on Monday dismissed Cooper Tire & Rubber Company's appeal against an earlier court ruling favoring Indian tire maker Apollo Tyres Ltd. The two companies went on trial in November over the stalled merger deal.
