Lawsuits

This week on The Broke and the Beautiful, sports news abounds. The estate of the late crooner Frank Sinatra wants a voice in the Los Angeles Dodgers’ future, the Texas Rangers’ former owner faces a lawsuit, and the New York Mets’ owners may need to give at least $300 million to the trustee chasing down recoveries for Bernard Madoff’s investment-fraud victims. Meanwhile, football player Mark Brunell is hoping to leave bankruptcy soon, and actor Burt Reynolds may lose his home to foreclosure.

NewPage Corp., a struggling Midwestern paper maker controlled by Cerberus Capital Management LP, warned in a regulatory filing that it may have to file for bankruptcy protection if it’s unable refinance its crushing debt load. Read the Daily Bankruptcy Review article here.