liabilities News

Philadelphia Energy Solutions Files for Bankruptcy after Refinery Fire

Philadelphia Energy Solutions (PES) filed for Chapter 11 bankruptcy protection, the company said on Monday, its second such filing in less than two years, after a fire last month prompted it to close the largest refinery on the U.S. East …

PG&E’s Power Suppliers Lose Contract Fight in Bankruptcy Court

The power generators that supply bankrupt utility giant PG&E Corp. were dealt a major blow as a judge ruled that federal regulators can’t keep their supply contracts from getting killed. Power giants including NextEra Energy Inc. and Exelon Corp. had …

GlaxoSmithKline Agrees to $3B Settlement with U.S.

GlaxoSmithKline PLC has agreed in principle with the U.S. government on a $3 billion settlement of investigations into the company’s sales and marketing practices, the drug maker said Thursday. The agreement is expected to be completed next year, and the …

New York City Police Run Up More Legal Claims than Hospitals

New York City paid nearly $521 million in personal injury and property damage claims in 2010 — marking the first time in 30 years the police department’s liabilities topped those of public hospitals, according to a city comptroller’s report issued …