Credit Markets

The team unwinding Lehman Brothers Holdings Inc. boosted its estimate of how much cash it expects to bring in for creditors to $90.6 billion, buoyed primarily by a settlement with Lehman Brothers Bankhaus A.G., the German arm of Lehman’s investment-banking operation, The Wall Street Journal reports.

Nortel Networks Corp. of Canada Tuesday attacked a $1 billion pact between its U.S. division and investment firms that bought debt after the former telecommunications powerhouse collapsed in bankruptcy in 2009. Read the Daily Bankruptcy Review story here.

A judge declined to approve AMR Corp.’s plan to exit bankruptcy through a merger with US Airways Group Inc., citing the Justice Department’s antitrust lawsuit against the deal. Read the Daily Bankruptcy Review article via The Wall Street Journal.

The remains of two long-dormant manufacturing companies—Yarway Corp. and Saberhagen Holdings Inc.—were resurrected in bankruptcy court to deal with thousands of asbestos lawsuits. Read the DBR Small Cap article here.

Struggling shipping company Excel Maritime Carriers Ltd. is nearing a restructuring deal with its lenders but could still have to file for Chapter 11 in the U.S., according to a person familiar with the matter. Read the Daily Bankruptcy Review article here.