Corporations and securities brief ~ Winn-Dixie files for bankruptcy News
Corporations and securities brief ~ Winn-Dixie files for bankruptcy

[JURIST] Leading Tuesday's corporations and securities law news, supermarket giant Winn-Dixie Stores Inc. [corporate website] and 23 of its US subsidiaries have filed for Chapter 11 bankruptcy reorganization in US Bankruptcy Court for the Southern District of New York [official website]. The company announced it has secured an $800 million credit facility from Wachovia Bank [corporate website] to pay for the reorganization. The new credit facility is subject to court-approval. Read the Winn-Dixie press release. AP has more.

In other news…

  • Pepsi [corporate website] has bought out British fruit juice and smoothie brand PJ Smoothies [corporate website] for an undisclosed sum. The PJ brand, which has a 33 percent share of the market, will be joined to Pepsi's fruit juice brands Copella and Tropicana. BBC News has more.
  • India and Russia are in talks on a series of energy deals which would see India invest over $20 billion in oil and gas projects in Russia. Among the topics to be discussed is India oil giant ONGC's bid to buy a 15 percent stake in former Yukos [corporate website; JURIST Hot Topic] oil unit Yuganskneftegas. Also announced was the signing of a memorandum of understanding between Russian energy giant Gazprom [corporate website] and ONGC [corporate website] under which the companies consider cooperation in oil and gas projects in India, Russia and some other countries, and also in the transportation and selling of products in India. MosNews.com has local coverage.
    BBC News has more.
  • Janney Montgomery Scott [corporate website], one of the country's oldest investment firms, will buy Pittsburgh-based Parker/Hunter Inc. [corporate website]. Parker/Hunter will be completely absorbed by Janney by the end of the year. Read the Parker/Hunter press release. AP has more.

Click for previous corporations and securities law news.

THIS DAY @ LAW

UN General Assembly approves Palestine partition plan

The UN General Assembly approved UN Resolution Resolution 181 (II) on November 29, 1947, recommending that the British Mandate for Palestine be split into a Jewish state, an Arab state, and an international zone for Jerusalem. The vote in the assembly was 33 for to 13 against, with 10 abstentions. The resolution sparked a war between Palestinian Arabs and Jews in 1947 and a wider war after Egypt, Syria, Jordan, Iraq, and Lebanon invaded the new State of Israel in 1948. Read Resolution 181 (II).

UN divided Palestine between Arabs and Jews

On November 29, 1947, the UN General Assembly voted to partition Palestine into Jewish and Arab territories, leading to the establishment of a Jewish state the following year. Read UN General Assembly Resolution 181.

Defense Secretary Robert McNamara resigns during Vietnam Conflict

On November 29, 1967, Secretary of Defense Robert S. McNamara announced that he was resigning from his office to accept an appointment as head of the World Bank. The announcement came as the Vietnam Conflict was becoming increasingly unpopular in the United States and abroad.