Bankruptcy Trends

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.

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.

International treaties take years to complete as it is, so imagine the complexities at play in a hypothetical international insolvency treaty.

But at least people are starting to talk about it.

A group Argentina banks are working on a last-minute plan to help the country avoid default, The Wall Street Journal reports.

Nortel Networks Corp .’s U.S. division said Thursday it has reached a deal with bondholders owed nearly $4 billion to cap the interest they can collect at $1.01 billion. Read the Daily Bankruptcy Review story via The Wall Street Journal.