Chapter 9

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.

The former leaders of failed IndyMac Bancorp, including ex-Chief Executive Michael Perry, have agreed to settle a class-action securities lawsuit stemming from the bank-holding company’s collapse four years ago. Read the Daily Bankruptcy Review article via The Wall Street Journal.

Abound Solar Inc., the recipient of a federal loan guarantee from the U.S. Department of Energy, filed for Chapter 7 bankruptcy liquidation Monday. Read the Daily Bankruptcy Review article here.

Meredith Whitney, one of the first financial analysts to foresee the collapse of the housing market, famously predicted in December 2010 that a wave of municipal bond defaults was on the way. The wave, however, has yet to materialize, and the bankruptcy filing of Stockton, California will likely not change this.   

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.