New Cases

Nautilus Holdings Ltd., a container shipping venture led by Andreas Papathomas, filed for bankruptcy protection, the latest victim of too much debt and a downturn in the shipping industry. Read the Daily Bankruptcy Review article here.

Children’s product designer and distributor Kid Brands Inc. filed for Chapter 11 bankruptcy Wednesday after several companies terminated licensing agreements and suppliers refused to ship goods. Read the Daily Bankruptcy Review article here.

Facing declining enrollment stemming it says from negative publicity about a 2008 foreclosure action, it says, a Brooklyn prep school filed for Chapter 11 bankruptcy Monday.

Adelphi Academy of Brooklyn said that it filed for bankruptcy because it’s been unable to operate profitably after the lowered enrollment that followed 2008 news reports of a foreclosure by its lender, Metropolitan National Bank, which holds a $6.2 million note, according to court documents.

This week on The Broke and the Beautiful, a New Orleans celebrity chef put his business ventures in bankruptcy, and the rescuer of Twinkies may be eyeing an NFL creampuff. Also, Alec Baldwin got a key to the city.

A judge said James River Coal Co. can pay up to $2.7 million in bonuses to its top executives, rejecting a challenge to the payments by the federal government’s bankruptcy watchdog. Read the Daily Bankruptcy Review article via The Wall Street Journal.