Saturday, 27 December 2014
Last updated 2 days ago
Jul 28 2008 | 2:20pm ET
A federal judge today allowed auto-parts maker Delphi Corp.'s lawsuit against an investor group led by Appaloosa Management to proceed, in a rebuff to the hedge fund.
Appaloosa on Friday asked U.S. Bankruptcy Judge Robert Drain to dismiss Delphi's lawsuit, which seeks to force the Appaloosa group to provide the $2.55 billion in financing it had agreed to last August. Appaloosa pulled out of the deal in April, arguing that Delphi had violated its terms by approaching former parent General Motors for additional financing.
At Friday's hearing, Drain said that argument was "beyond me," and today refused to dismiss the suit.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.