bankruptcy law

An organization that coached public-relations professionals on how to master crisis communications may need to take some of its own advice after its recent bankruptcy filing.

Bulldog Reporter, an Oakland, Calif.-based company that provided training and services for public relations professionals, recently filed for bankruptcy protection in California with liabilities of less than $1 million and assets of $178,220.

The former owners of Lake Las Vegas, including two of Texas’ billionaire Bass brothers, paid $115 million last month to quietly settle a long-running lawsuit tied to the luxurious golf community and resort’s collapse into bankruptcy in 2008, according to confidential settlements viewed by The Wall Street Journal. Read the exclusive Daily Bankruptcy Review story in the Journal.

Earlier this year Maryland’s Community Law Center had its first victory under an updated law meant to stop bad behavior by the owners of blighted properties that refuse to clean them up. But late Tuesday night the progress in that effort hit a road block—the bankruptcy code.

An investment fund that parked all of its money with Bernard Madoff has agreed to give up $95 million for the benefit of Mr. Madoff’s victims in the second major settlement announced this week by the court-appointed official tracking down money tied to the biggest Ponzi scheme ever. Read Sara Randazzo’s Daily Bankruptcy Review story in The Wall Street Journal.

Mutual fund giant Franklin Templeton Investments is appealing a judge’s decision to allow the city of Stockton, Calif., to exit bankruptcy under a plan that pays Franklin-managed funds a fraction of the $37 million owed them but makes full payments for the city’s pensions. Read the Daily Bankruptcy Review story in The Wall Street Journal.