U.S. Bankruptcy Judge Gregory Kishel said Tuesday that he'll rule by the end of next week on the challenge to Doug Kelley's appointment as trustee in the bankruptcies of 10 companies owned by accused swindler Tom Petters. An Illinois investment group headed by Ritchie Capital Management opposes Kelley's appointment for both Petters Group Worldwide and Petters Co. Inc., arguing that it would create unavoidable conflicts of interest. DAVID PHELPS
Medtronic, Boston Sci call patent truce Boston Scientific Corp., the world's largest maker of heart stents, and Medtronic Inc., the biggest maker of electronic heart devices, agreed to settle two patent-infringement suits over heart stents and put three others on hold. Financial terms weren't disclosed, though they will have no impact on earnings, Boston Scientific said Tuesday. Of the five complaints, two were brought by Fridley-based Medtronic and three were filed by Boston Scientific. Medtronic, in a separate statement, said the agreement won't affect fiscal third-quarter earnings, which it is scheduled to report on Feb. 19. The company said it will continue to pursue patent-infringement claims against Abbott Laboratories.
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