News Topic: Chapter 9

Caesars Entertainment Operating Co. was hit by another investor lawsuit Wednesday, this time by bondholders that say the casino giant recently worked out a “backroom” deal to aid one group of creditors and hurt others. Read the Daily Bankruptcy Review ... Read full article

After more than a year in bankruptcy court, the city asked a federal judge Tuesday for the final blessing of its plan to slash $7 billion in debt and get on the road to solvency, The Wall Street Journal reports . ... Read full article

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The nation’s largest municipal-bankruptcy case is set for a showdown trial starting Tuesday, pitting the city’s emergency manager against holdout creditors seeking billions in payouts, The Wall Street Journal reports . ... Read full article

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Lehman Brothers Holdings Inc. said Thursday that it may seek to sell off some of a multibillion-dollar bankruptcy claim that the failed investment bank holds against its U.S. brokerage arm. The Wall Street Journal has the Daily Bankruptcy Review article ... Read full article

Momentive Performance Materials Inc. won two key lawsuits Tuesday, but the company fell short of securing court approval for its restructuring plan. The Wall Street Journal has the Daily Bankruptcy Review article here . ... Read full article

Mercator Minerals Ltd. ’s Mineral Park Inc. unit filed for Chapter 11 bankruptcy protection Monday, seeking a buyer for assets that include a producing copper-molybdenum mine near Kingman, Ariz. Ready the Daily Bankruptcy Review article here . ... Read full article

One of the groups of plaintiffs trying to sue General Motor s  Co. over economic losses relating to the massive recall tied to faulty ignition switches is asking the bankruptcy judge to allow its lawsuit to proceed. Read the Daily Bankruptcy Review story ... Read full article

General unsecured creditors of Lehman Brothers Inc. will receive $4.6 billion in their first distribution, perhaps as soon as next month. The Wall Street Journal has the Daily Bankruptcy Review article here . ... Read full article

Creditors threatened with big losses in Energy Future Holdings Corp.’s bankruptcy case are demanding answers about the tax issues they say are driving the big Dallas power seller’s strategy for restructuring its $42 billion debt load. Read the Daily ... Read full article

Embattled for-profit education company Corinthian Colleges Inc. will likely need to raise more money in order to complete its plan to sell the majority of its Everest, WyoTech and Heald campuses during the next six months, the company said Wednesday. Read ... Read full article

Philip Falcone’s Harbinger Capital Partners filed a competing proposal for his wireless venture on Monday that would pump new money into the smaller pool of the wireless venture’s assets. Read the Daily Bankruptcy Review article here . ... Read full article

MF Global Holdings Ltd. is urging a judge not to toss its $1 billion lawsuit against PricewaterhouseCoopers LLP for the alleged bad accounting advice that MF Global says led to its 2011 collapse. The Wall Street Journal has the Daily Bankruptcy Review ... Read full article

Wireless venture LightSquared on Thursday overhauled its reorganization plan, and the new proposal appears to spell the end of longtime backer Philip Falcone’s ownership of the wireless venture. The Wall Street Journal has the Daily Bankruptcy Review ... Read full article

Satellite TV provider DirecTV and telecom giant AT&T Inc. are would take over Houston’s struggling professional sports channel under a proposal filed late Wednesday in bankruptcy court. Read the Daily Bankruptcy Review article here . ... Read full article

A judge on Wednesday said the trustee unwinding Lehman Brothers Inc. could create a $3 billion-plus fund to pay back unsecured creditors of the brokerage. The Wall Street Journal has the Daily Bankruptcy Review article here . ... Read full article

The company once known as Fisker Automotive received court approval Monday on a Chapter 11 plan that will distribute money raised in the bankruptcy sale of the manufacturer of luxury hybrid sedans. Read the Daily Bankruptcy Review story in The Wall Street ... Read full article