Restructuring

Federal bankruptcy watchdogs are continuing to wage war against a “bankruptcy premium” they say corporate attorneys may be charging companies in Chapter 11, but they are dialing back some of their demands that had riled members of the bankruptcy bar. Read the Daily Bankruptcy Review article here.

Indianapolis Downs LLC won court approval to sell the Indiana Grand racetrack and casino to Centaur Holdings LLC for $500 million, the cornerstone of its restructuring plan. Read the Daily Bankruptcy Review article here.

Following the recent collapse of a deal to sell its business to Chinese aircraft manufacturer, Hawker Beechcraft Inc. has filed a new plan to exit bankruptcy in the hands of a group of hedge funds that includes Bain Capital’s Sankaty Advisors. Read the Daily Bankruptcy Review article here.

Editor’s note: On Friday, The Wall Street Journal’s Kelly Greene explored the peril student-loan co-signers face when borrowers default. Bankruptcy Beat’s Katy Stech expands on the dilemma faced when the co-signers themselves end up in bankruptcy to try to discharge the debt.

Lenders who extended $132,000 in student loans to Kristina Pietras before she dropped out of the University of Toledo knew she couldn’t afford to pay them back.

This week on The Broke and the Beautiful, a senator from New York wants to keep Hickey Freeman’s operations domestic, a museum did more than entertain the notion of bankruptcy, and a music festival has called it quits.