Detroit hits back against opposition to its bankruptcy By Tom Hals (Reuters) - Attorneys for Detroit made their case for the city's request for bankruptcy in court papers on Friday, knocking down individual objections to the process and saying filing for protection would not necessarily cut pensions. Unlike corporations or individuals, the city must prove it is eligible for bankruptcy protection from creditors, and oral arguments are set to begin ...
Sept. 7, 2013 - Reuters via Yahoo! News
Chief justice of Delaware's Supreme Court to retire By Tom Hals (Reuters) - Myron Steele will retire November 30 as the chief justice of Delaware's Supreme Court, which plays a key role in interpreting U.S. corporate law. Steele, 68, did not give a reason for his resignation in a letter received on Friday by Governor Jack Markell, a spokeswoman said. Steele has served as chief justice on the five-member court since 2004 and his 12-year term was ...
Sept. 6, 2013 - Reuters via Yahoo! News
Fiat's fight over Chrysler stake may not go to trial until 2015 By Tom Hals (Reuters) - Fiat SpA may have to wait until 2015 before a judge will decide the price the Italian automaker would have to pay to buy out a minority shareholder of its Chrysler business, according to court filings. Delaware judge Donald Parsons should allow a "reasonable time" to prepare for a trial to decide what Fiat must pay to buy part of the 41.5 percent Chrysler stake held by a ...
Sept. 5, 2013 - Reuters via Yahoo! News