Hedge Funds

Secured lenders led by Credit Suisse AG have been declared winners of an auction for the oil and gas drilling assets of ATP Oil & Gas Corp. with an offer of $690.8 million, court papers say.

The government’s bankruptcy watchdog says A123 Systems Inc.’s attempt to pay millions of dollars in “incentive” bonuses to a handful of the battery maker’s insiders appears to be a disguised bid to award the employees with illegal “retention” bonuses. Read the Daily Bankruptcy Review article here.

A bankruptcy judge Monday confirmed Solyndra LLC’s Chapter 11 plan, brushing aside protests from the Department of Energy, which stands to lose most of the $527 million in taxpayer dollars it risked on the company. Read the Daily Bankruptcy Review article here.

Arcapita Bank’s unsecured creditors say a proposed $150 million financing package from Silver Point Finance LLC is structured to benefit the lender at other creditors’ expense and to preclude the company from pursuing other options. Read the Daily Bankruptcy Review article here.

Journal Register Co., the publisher behind local newspapers such as the New Haven Register, is back in bankruptcy protection, three years after emerging from a previous Chapter 11 stint. Read the Daily Bankruptcy Review article via The Wall Street Journal.