WILMINGTON, Del. - A bankrupt German solar energy company on June 4 filed a brief in the U.S. Bankruptcy Court for the District of Delaware seeking Chapter 15 recognition and automatic stay relief concerning the Chapter 11 bankruptcy of an affiliated company in the United States, which would affect the company's bankruptcy proceeding in Germany (In Re: Solar Millennium AG, No. 12-11-722, Chapter 15, D. Del. Bkcy.). A complementary copy of the brief is attached below.
LOS ANGELES - A lead plaintiff in a securities class action lawsuit against a Chinese company and certain of its current and former officers and directors and others has failed to plead its federal securities law claims against certain defendants, a federal judge in California ruled May 31 in dismissing the lead plaintiff's consolidated complaint (In re A-Power Energy Generation Systems Ltd. Securities Litigation, No. 11-2302, C.D. Calif.).Subscribers may view the opinion available within the full update.
WILMINGTON, Del. - A creditor in the Chapter 11 bankruptcy of Bicent Holdings LLC, the holding company for bankrupt energy company Bicent Power, on May 30 filed a brief in the U.S. Bankruptcy Court for the District of Delaware objecting to Bicent's reorganization plan, contending that the company's disclosure statement does not include enough information for creditors to make an informed judgment about the plan (In Re: Bicent Holdings LLC, No. 12-11304, Chapter 11, D. Del. Bkcy.). Subscribers may view the objection available within the full update.
WILMINGTON, Del. - The U.S. trustee in the Chapter 11 case of bankrupt energy company Solyndra LLC on May 24 filed a brief in the U.S. Bankruptcy Court for the District of Delaware objecting to Solyndra's motion to increase post-petition funding (In Re: Solyndra LLC, No. 11-12799, Chapter 11, D. Del. Bkcy.). Subscribers may view the Trustee's brief available within the full update.
WASHINGTON, D.C. - The International Centre for Settlement of Investment Disputes (ICSID) on May 18 released two rulings in a dispute between a Cypriot company and the Republic of Turkey in relation to an energy charter treaty, denying the company's request for provisional measures but granting an application for stay of enforcement until a decision is reached on its request to annul a portion of an arbitration award for Turkey (Libananco Holdings Co. Limited v. Republic of Turkey, No. ARB/06/8, ICSID).
HATTIESBURG, Miss. - A Mississippi federal judge on May 7 granted a motion to extend the time for designating a medical expert filed by homeowners seeking to show that their injuries were caused by mold growth in their mobile home, but limited the relief to designation of the only named expert in the motion (Gerald D. Boyd, et al. v. Southern Energy Homes Inc., et al., No. 2:11cv118, S.D. Miss.; 2012 U.S. Dist. LEXIS 63654).
NEW YORK - An employer that sold its assets was not exempt from withdrawal liability under the Multi-Employer Pension Plan Amendments Act (MPPAA) because the purchaser was obligated to contribute to the pension fund at the same contribution rate but not the same contribution units that the employer contributed presale, the Second Circuit U.S. Court of Appeals affirmed 2-1 on May 3 (HOP Energy, L.L.C. v. Local 553 Pension Fund, No. 10-3889-cv, 2nd Cir.; 2012 U.S. App. LEXIS 9088).
SCRANTON, Pa. - Susquehanna County, Pa., residents seeking to recover for alleged contamination of their residential well water with hydraulic fracturing chemicals in the U.S. District Court for the Middle District of Pennsylvania were granted leave to file a third amended complaint to add four defendants in an order entered May 3 (Susan Berish, et al. v. Southwestern Energy Production Co., et al., No. 10-1981, M.D. Pa.; 2012 U.S. Dist. LEXIS 61943).
ATLANTA - A panel of the 11th Circuit U.S. Court of Appeals on May 2 ruled that a debtor's employment discrimination claim was properly dismissed because the only party with standing to pursue that action is the bankruptcy trustee (Zinnia I. Chen v. Siemens Energy Incorporated, No. 11-14372, Chapter 7, 11th Cir.; 2012 U.S. App. LEXIS 8936).
LOS ANGELES - Contradictory testimony regarding who removed asbestos-containing insulation from boilers entitles the manufacturer of those boilers to summary judgment, a California appellate court affirmed April 26 (Marilyn Davis, et al. v. Foster Wheeler Energy Corp., No. B226089, Calif. App., 2nd Dist., Div. 5). Subscribers may view the opinion available within the full update.
WILLIAMSPORT, Pa. - The judge presiding over a lawsuit brought in the U.S. District Court for the Middle District of Pennsylvania by a Tioga County, Pa., landowner against natural gas extraction companies issued an order April 27 adopting in part the findings and recommendations of the magistrate judge; negligence, strict liability and ultrahazardous activity claims survive defense motions to dismiss for failing to state a claim (Edward E. Kamuck v. Shell Energy Holdings, et al., No. 11-1425, M.D. Pa.; 2012 U.S. Dist. LEXIS 59113).-->
NEW YORK - Bankrupt energy company Dynegy Holdings LLC on April 27 filed a brief in the U.S. Bankruptcy Court for the Southern District of New York, objecting to a creditor's motion seeking to compel testimony and the production of documents from Dynegy and two of its principals (In Re: Dynegy Holdings LLC, No. 11-38111, Chapter 11, S.D. N.Y. Bkcy.).
RICHMOND, Va. - A panel of the Fourth Circuit U.S. Court of Appeals on April 5 reversed and remanded a district court's ruling that had affirmed an arbitrators' award to a debtor company after two unions sued the company seeking payment for vacation benefits accrued prior to the plant's closing. The Fourth Circuit said that the collective bargaining agreement (CBA) between the parties did not address whether the benefits survived following the closing of the plant (Intermet Corporation v. United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union, No. 11-1766, Chapter 11, 4th Cir; 2012 U.S. App. LEXIS 7001).
LOS ANGELES - A federal judge in California on April 2 denied an auditing firm's motion to dismiss a federal securities law claim against it that alleges that the firm issued misrepresentations in financial statements it certified for a Chinese energy company, ruling that the lead plaintiff in the action has properly pleaded its claim (Larry Brown v. China Integrated Energy Inc., et al., No. 11-2559, C.D. Calif.; 2012 U.S. Dist. LEXIS 47019).
HOUSTON - Arguing that a shareholder bringing a shareholder derivative lawsuit should not be allowed to voluntarily dismiss its suit without prejudice, directors and officers of a corporation urged a Texas federal court on March 29 to dismiss the suit with prejudice so the plaintiff could not move the case to a different forum (City of Sterling Heights Police & Fire Retirement System, Derivatively on behalf of Helix Energy Solutions Group, Inc. v. Owen Kratz, et al., No. 11-cv-02537, S.D. Texas).
HARRISBURG, Pa. - The receiver in the City of Harrisburg, Pa., Chapter 9 bankruptcy is calling for state and federal prosecutors to investigate the financing deal for the city's waste-to-energy incinerator facility, the failure of which led to the city's bankruptcy, a source involved in the bankruptcy told Mealey Publications March 28 (In Re: City of Harrisburg, Pa, No. 11-06938, Chapter 9, M.D. Pa. Bkcy.). See related, 2012 U.S. Dist. LEXIS 12237.
WILMINGTON, Del. - Bankrupt energy company Beacon Power Corp. on March 27 filed a brief in the U.S. Bankruptcy Court for the District of Delaware supporting its motion to have its Chapter 11 bankruptcy case dismissed (In Re: Beacon Power Corporation, No. 11-13450, Chapter 11, D. Del. Bkcy.).
Subscribers may view brief within this Mealey's Daily News Report.
NEW YORK - Bankrupt energy company Dynegy Holdings LLC on March 16 responded to an examiner's report of its prebankruptcy restructuring activities, arguing that the report wrongly concluded that the debtor had conducted a fraudulent transfer to one of its affiliates (In Re: Dynegy Holdings LLC, No. 11-38111, Chapter 11, S.D. N.Y. Bkcy.).