International

Two hedge funds are asking that an outsider take over Patriot Coal Corp. in order to extricate it from a bitter fight with its miners union. Read the Daily Bankruptcy Review article here.

Former British business star Paul Kemsley got a thumbs-down last Friday from a New York bankruptcy judge who was asked to shield Kemsley’s U.S. assets while a court in London helps him deal with creditors.

Judge James M. Peck of the U.S. Bankruptcy Court in Manhattan denied a U.K. trustee’s request to shield Kemsley’s U.S. assets under Chapter 15 of the Bankruptcy Code, which would have protected Kemsley from creditor action in the U.S. pending a resolution of the U.K. proceedings.

Powerwave Technologies Inc. may have to lay off hundreds of employees at its factories in Thailand, India and in Europe after a lender wouldn’t allow the struggling wireless-equipment maker to spend money on its overseas manufacturing plants, according to a person involved with the case. Read the DBR Small Cap article here.

Yellow-pages companies Dex One Corp. and SuperMedia Inc. have both voluntarily filed for Chapter 11 bankruptcy protection as part of their previously announced all-stock merger deal. Read the article in Daily Bankruptcy Review.

SPI Group, the owner of Stolichnaya vodka, may make an offer for Central European Distribution Corp. as that company tries to manage its more than $1 billion in debt, some of which is set to mature next week. Read the Daily Bankruptcy Review article here.