Law

JPMorgan, Citigroup Helped Cause Lehman's Collapse, Examiner's Report Says JPMorgan Chase & Co. and Citigroup Inc. helped cause the failure of Lehman Brothers Holdings Inc. by demanding more collateral and changing guarantee agreements, according to a court-ordered report on the biggest bankruptcy in U.S. history.

Lyondell Reorganization Terms Win Court Approval Over Objections on Value Lyondell Chemical Co. can reorganize based on a company value of $15.2 billion after a judge overruled objections that questioned whether the amount was artificially low.

Pledge of Allegiance in Schools Doesn't Violate Constitution, Court Rules Reciting the Pledge of Allegiance with its reference to God in public schools doesn’t violate the U.S. Constitution’s separation of church and state, a federal appeals court ruled.

Lyondell Will Pursue $3.25 Billion of Debt Financing After Bankruptcy Exit Lyondell Chemical Co. plans to borrow $3.25 billion to repay some existing debt after it emerges from bankruptcy protection.

WTC Captive Reaches Settlement of 9/11 Claims by Rescue, Recovery Workers WTC Captive Insurance Co., a victims’ fund set up after the Sept. 11, 2001, terrorist attacks, reached a settlement of as much as $657 million with 10,000 workers claiming respiratory illness stemming from rescue and recovery efforts at the World Trade Center site.

Corrections Corp. Guards Condone Prison Violence, Six Idaho Inmates Allege Corrections Corp. of America Inc., the biggest U.S. private prison operator, was sued by six inmates claiming it allowed the Idaho Correctional Center to become so violent that it’s known as “gladiator school.”

Bloomberg Law