Santa Ysabel Resort and Casino—too broke to build its resort and too small to lure many gamblers to its casino on a reservation outside San Diego—is about to test the notion that Native American enterprises aren’t eligible for protection under U.S. bankruptcy law. Read the Daily Banrkuptcy Review Small Cap article via The Wall Street Journal.
A bankruptcy judge Monday officially signed off on Tribune Co .’s Chapter 11 plan, endorsing final documents setting out the debt-for-equity swap that will make the media company property of hedge funds and banks. Read the Daily Bankruptcy Review article here.
A US Airways tail rest on the tarmac near an American Airlines plane at Ronald Reagan Washington National Airport in Arlington, Virginia on April 23, 2012.
Patriot Coal Corp. filed for Chapter 11 bankruptcy on Monday, becoming the largest casualty of the worst U.S. market for the power-plant fuel in decades. Read the Daily Bankruptcy Review article here.
Mammoth Lakes, Calif., on Tuesday filed for Chapter 9, or municipal bankruptcy, less than a week after nearby Stockton, Calif., sought the same protection. Read the Daily Bankruptcy Review article here.
A federal judge dismissed Bank of America Corp.’s lawsuit against units of Deutsche Bank AG and BNP Paribas SA, a win for the two foreign banks in their $1.75 billion dispute over losses suffered when a subsidiary of disgraced mortgage lender Taylor Bean & Whitaker Mortgage Corp. collapsed. Read the Daily Bankruptcy Review article here.
A judge on Tuesday ruled largely for Barclays PLC in the bank’s ongoing dispute with the trustee unwinding Lehman Brothers Holdings Inc.’s brokerage stemming from Barclays’ 2008 purchase of the brokerage, a decision th
