Restructuring

J.P. Morgan Chase & Co. said senior management of Lehman Brothers Holdings Inc.

Do you drop phrase

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.

Tribune Co. won court approval of its Chapter 11 plan after a long and contentious bankruptcy proceeding, clearing the way to action before the Federal Communications Commission that will be anything but easy for the publishing and broadcasting operation. Read the Daily Bankruptcy Review article here.