Chapter 9

Philip Falcone‘s LightSquared on Tuesday unveiled a $3.05 billion restructuring plan that would give 74% of the wireless venture to Cerberus Capital Management LP, Fortress Investment Group  LLC and J.P. Morgan Chase & Co., and leave Mr. Falcone with just 12.5% of the reorganized company’s equity. The Wall Street Journal has the Daily Bankruptcy Review article here.

As Detroit nears a crucial point in its restructuring, what lessons does the city’s historic bankruptcy offer troubled municipalities?

As Detroit nears a crucial point in its restructuring, what lessons does the city’s historic bankruptcy offer troubled municipalities?

Thirty men who were sexually abused decades ago as children at two Catholic schools in the Seattle area will split about $12.1 million from the Archdiocese of Seattle, which owned the schools. Read the Daily Bankruptcy Review article here.