International

It’s no secret that the corporate bankruptcy process is expensive.

But government leaders of the Northern Mariana Islands found out that even the expense of getting thrown out of bankruptcy court has an eye-widening price tag.

An appellate panel has agreed to hear pleas from Wall Street banks who want power restored to John Young, the sewer expert who took over Jefferson County, Ala.’s, system when its leaders got tangled in a corruption scandal but who was ousted earlier this year by the county’s bankruptcy judge. 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.

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