Delaware

Delaware port operator faces $21M in damages over buyout dispute

Published

2 years ago

September 20, 2022

Delaware port operator faces M in damages over buyout dispute

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DOVER, Del. – The corporate that privatized operations on the port of Wilmington a number of years in the past owes greater than $21 million in damages for breaching an settlement to purchase the port’s former stevedoring agency, a Delaware decide dominated Monday.

Vice Chancellor Lori Will even discovered GT USA Wilmington in contempt for violating a courtroom confidentiality order by utilizing supplies it obtained in defending itself in a 2018 lawsuit filed by Murphy Marine Companies to barter a take care of one in all Murphy Marine’s largest clients.

Monday’s ruling got here greater than a 12 months after a special Chancery Court docket decide dominated that GT was sure by the phrases of a 2018 letter settlement relating to the acquisition and sale of 100% of the fairness curiosity of Murphy Marine.

Will dominated Monday that GT violated the binding letter settlement by refusing to barter a definitive buy settlement with Murphy Marine. She additionally stated GT improperly used info obtained from Murphy Marine throughout the lawsuit to barter its personal stevedoring contract with Dole Contemporary Fruit Firm.

Officers with GT USA Wilmington didn’t instantly reply to an e mail looking for remark.

GT USA Wilmington is a subsidiary of port administration firm Gulftainer, which is predicated within the United Arab Emirates. In 2018, it obtained the rights to function the Wilmington port for 50 years in trade for agreeing to make important upgrades and to pay the state not less than $3 million yearly in concession charges.

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Murphy Marine is a family-owned enterprise that was bought in 2006 by a former longshoreman and three of his cousins by means of trusts, that are the corporate’s stockholders.

Will awarded the trusts greater than $21.4 million direct damages for the lack of truthful market worth that GT agreed to pay for Murphy Marine’s inventory. She additionally stated the plaintiffs are entitled to pre- and post-judgment curiosity at a price of seven.5%, compounded quarterly, from September 2018 to the date of fee.

Will even ordered GT to pay the authorized charges and bills incurred by Murphy Marine relating to its movement to search out GT in contempt for violating a confidentiality order governing the trade of paperwork within the lawsuit. Based on the ruling, GT used income and monetary info for varied Murphy Marine clients to barter its personal stevedoring contract with Dole, which had been a buyer of Murphy Marine.

“That violation was not a technical one,” the decide wrote. “Somewhat, it’s extra seemingly than not that GT used a competitor’s clearly confidential info to barter with a then-current Murphy Marine buyer in opposition to Murphy Marine.”

Beneath a privatization deal signed with Gov. John Carney’s administration in 2018, Gulftainer agreed to take over operations on the port for 50 years and make investments nearly $600 million in port upgrades and a brand new container-handling terminal at Edgemoor.

State officers didn’t require GT to purchase Murphy Marine, however each firms have stated they felt “stress” from the state to make a deal. The businesses finalized the letter settlement in April 2018 and agreed shortly thereafter that KPMG would conduct a valuation evaluation of Murphy Marine.

KPMG estimated Murphy Marine’s fairness worth to be between $21.5 million and $26.1 million.

GT officers weren’t proud of these numbers and requested KPMG to “repair its evaluation,” in keeping with courtroom data. A key concern for GT was that the impact of the port privatization was not included in KPMG’s valuation, although the events agreed that privatization wouldn’t be thought-about.

Vice Chancellor Sam Glasscock III famous in a ruling final 12 months that, if GT didn’t purchase Murphy Marine, its privatization of the port would have a “drastically detrimental impact” on Murphy Marine’s worth.

“GT, which is the biggest privately-owned port operator on the planet, may have began its personal stevedoring enterprise and shuttered Murphy Marine’s enterprise completely by denying it entry to the port,” he famous.

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Delaware

Delaware County Sheriff's Office investigating murder-suicide involving mother and two children

Published

8 hours ago

November 23, 2024

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Delaware County Sheriff's Office investigating murder-suicide involving mother and two children

The Delaware County Sheriff’s Office reported they found an abandoned vehicle with a deceased woman and two children inside on the morning of Nov 23.

The Sheriff’s Office said the vehicle was found near Highway 85 and East 340 Road.

Delaware County Sheriff’s Office

They said a preliminary investigation identified the woman as Alisia Pena of Tulsa and two children belonging to her. Both children are under the age of ten.

The Sheriff’s Office said it believes the deaths are the result of a murder-suicide on the part of the mother, but the Medical Examiner will determine the official cause and manner of death.

2 News is working to learn more and will update this story as we learn more.

Stay in touch with us anytime, anywhere —

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Delaware

Here are 9 holiday light shows to catch this season in the Delaware, Philadelphia region

Published

16 hours ago

November 23, 2024

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Here are 9 holiday light shows to catch this season in the Delaware, Philadelphia region

From walks to drive-thrus, there are plenty of opportunities to catch a holiday light show this season.

Various shows and events are taking place throughout Delaware and across the Philadelphia region this year.

Here are nine holiday light shows to check out:

Longwood Gardens

Spectators of the holiday light show at Longwood Gardens are in for a special treat this year as “A Longwood Christmas” kicks off amid the opening of “Longwood Reimagined.”

The expansion features new spaces like the West Conservatory, which will offer new areas to deck out for the holidays.

Longwood Gardens, located near Kennett Square, Pennsylvania, launched its holiday light display on Friday, Nov. 22, and it will run daily through Jan. 12. To make a reservation, visit the sprawling garden’s website.

Address: 1001 Longwood Road, near Kennett Square, Pennsylvania

Website: longwoodgardens.org

Yuletide at Winterthur Museum, Garden and Library

Holidays at the Winterthur Museum on Route 52 features twinkling lights adorning the woodlands, a large-scale gingerbread house and an 18-room dollhouse, according to the museum’s website.

The holiday display will be open to the public starting Saturday, Nov. 23, and will run through Sunday, Jan. 5.

You can purchase tickets online or by calling the museum at 800-448-3883.

Address: 5105 Kennett Pike, Winterthur, Delaware

Website: winterthur.org/

Holidays at Hagley

Get a glimpse of Hagley Museum and Library around the holidays with a holiday home and garden tour.

The site features a gingerbread house contest, Santa day, holiday night tours and more.

The holiday experience at Hagley runs from Sunday, Nov. 29 through Wednesday, Jan. 1. Purchase tickets online to schedule your holiday tour.

Address: 200 Hagley Creek Road, Greenville, Delaware

Website: hagley.org/

Drone show at the Riverfront

The Wilmington Riverfront during the evening hours of Friday, Dec. 6, will host a drone holiday light show.

The free holiday light show will take place on the Riverwalk. For more information about the event, visit the Riverfront’s website.

Address: Michael S Purzycki Riverwalk in Wilmington, Delaware

Website: riverfrontwilm.com/event/drone-light-show

Shady Brook Farm

If you are willing to take a drive for a holiday light display, look no further than Yardley, Pennsylvania’s Shady Brook Farm.

You can drive through the holiday show yourself or take a wagon ride through. The holiday festivities begin Saturday, Nov. 23 and run through Jan. 5, 2025. Ticket prices are per vehicle and vary depending on the day of your visit.

The farm also features Santa’s Village with gifts, treats, firepits and a Candy Cane Lane walk-through.

Address: 931 Stony Hill Road, Yardley, Pennsylvania

Website: shadybrookfarm.com

Gift of Lights Dover

The Dover Motor Speedway will once again host its drive-thru holiday light show this year.

Tickets are priced per carload at $35 per car and $60 per bus or limo.

Address: 1229 Persimmon Tree Lane, Dover, Delaware

Website: giftoflights.ticketspice.com/gift-of-lights-dover

The Brandywine Railroad

Since 1972, the Brandywine Railroad has displayed model trains, including locomotives, passenger and freight trains, and trolleys as part of its annual holiday display.

The display also features interactive options like “push buttons and foot pedals” so visitors can engage with the train setup.

The holiday display began on Saturday, Nov. 16, and runs through Jan. 5. For more information visit the Brandywine Museum of Arts’ website.

Address: 1 Hoffman’s Mill Road, Chadds Ford, Pennsylvania

Website: brandywine.org/museum

Holiday Lights Express

Take a festive ride on 100-year-old heated coaches through the Red Clay Valley to see homes decorated for the holidays.

The Wilmington & Western Railroad hosts one-hour evening train rides during the month of December. To purchase train tickets, visit the venue’s website.

For a visit from Santa Claus, be sure to reserve train tickets for the Santa Claus Express.

Address: 2201 Newport Gap Pike, Prices Corner, Delaware

Website: wwrr.com/ride/events/holiday-lights

NOËL at Nemours Estate

Experience the holidays at the Nemours Estate by touring the 77-room mansion, chauffer’s garage and gardens adorned in twinkling lights.

The estate also will feature live music performances throughout the season.

The festivities at the Nemours Estate began Tuesday, Nov. 19 and will extend through Sunday, Dec. 29. Purchase tickets on the estate’s website and reserve your visit.

Address: 1600 Rockland Road, Rockland, Delaware

Website: nemoursestate.org

Got a tip? Contact Amanda Fries at afries@delawareonline.com. Follow her on X at @mandy_fries.

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Delaware

Dolgeville vs Delaware Academy

Published

1 day ago

November 23, 2024

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N. Scott Trimble

High School football 2024 Class D playoffs: Dolgeville vs. Delaware Academy

Dolgeville battles Delaware Academy at Cicero-North Syracuse Friday, November 22, 2024 for the Class D playoffs. (N. Scott Trimble | strimble@syracuse.com)Get Photo

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