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Furniture Brands International Inc.’s board of directors has switched course, replacing Oaktree Capital Management with New York’s KPS Capital Partners LP as the lead bidder at an upcoming bankruptcy auction. Read the Daily Bankruptcy Review article here.

A potential bidding war is brewing for Furniture Brands International Inc., the big furniture manufacturer that filed for Chapter 11 earlier this week with a plan to sell most of its assets to Oaktree Capital Management. Read the Daily Bankruptcy Review article via The Wall Street Journal.

A federal judge dismissed Bank of America Corp.’s $1.7 billion lawsuit against the Federal Deposit Insurance Corp., a win for the regulator in the long-running battle over who is ultimately on the hook for losses tied to the multibillion-dollar fraud at disgraced lender Taylor Bean & Whitaker Mortgage Corp. Read the Daily Bankruptcy Review article here.

Lawyers for Dish Network Corp. Chairman Charlie Ergen and Phil Falcone squared off in front of LightSquared’s bankruptcy judge Thursday, for the first time since Mr. Falcone sued Mr. Ergen over allegedly improper purchases of LightSquared’s debt. Read the Daily Bankruptcy Review article here.

Pfizer Inc. is on track to shake billions of dollars’ worth of asbestos liabilities, as its long-defunct subsidiary Quigley Co. seeks federal court approval of a Chapter 11 plan already confirmed by a bankruptcy judge in New York. Read the Daily Bankruptcy Review article here.