Bankruptcy Trends

Tribune Co. won court approval of its Chapter 11 plan after a long and contentious bankruptcy proceeding, clearing the way to action before the Federal Communications Commission that will be anything but easy for the publishing and broadcasting operation. Read the Daily Bankruptcy Review article here.

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.

The city of Stockton, Calif., filed for Chapter 9 protection, The Wall Street Journal reports.

MF Global is proving to be catnip for distressed-debt buyers, according to a new report showing that more than $246 million of the failed brokerage’s debt changed hands last month. Read the Daily Bankruptcy Review article here.

A U.S. federal judge refused Wednesday to enforce Mexican glassmaker Vitro SAB’s controversial debt restructuring in a closely watched bankruptcy case that threatened to sever the cross-border business cooperation between the two nations’ legal systems. Read the Daily Bankruptcy Review article here.

The U.S. Supreme Court affirmed Tuesday the right of lenders to use their debt as currency in bankruptcy auctions in a unanimous decision sure to reverberate through the corporate restructuring community. Read the Daily Bankruptcy Review article here.