Private Equity

Empowered by a recent court ruling, Jefferson County, Ala., leaders are planning to wield their bankruptcy case privileges to squeeze sewer system bondholders who—for nearly half a decade—have squeezed them. Read the Daily Bankruptcy Review article here.

Lehman Brothers Holdings Inc.’s Australian subsidiary is seeking bankruptcy protection under U.S. law and said its assets could include $1.3 billion to cover investors’ losses tied to synthetic collateralized-debt obligations. Read the Daily Bankruptcy Review article here.

Newspaper publisher Lee Enterprises Inc. filed for Chapter 11 bankruptcy protection Monday in a bid to refinance nearly $984 million in debt that’s due to mature in the spring. Read the Daily Bankruptcy Review article here.

Dish Network Corp. is a giant step closer to owning TerreStar Networks Inc. and DBSD North America Inc., after settling a long legal fight with Sprint Nextel Corp. over a satellite-licensing agreement. Read the Daily Bankruptcy Review article here.

(This has been cross-posted from Private Equity Beat.)

By Sabrina Willmer

In the world of private equity where there are many big egos, rarely have we seen the head of a large firm admit publicly to making mistakes. However, in a refreshing twist, Cerberus Capital Management’s chief executive reflected on past missteps during a keynote speech at the Dow Jones Private Equity Analyst conference in New York.