Ocala Funding LLC, the mortgage-securities unit of defunct lender Taylor, Bean & Whitaker Mortgage Corp ., filed for Chapter 11 protection Tuesday in a bid to recover more than $800 million it said Taylor Bean’s now-imprisoned leaders looted from its coffers. Read the Daily Bankruptcy Review article here.
Peregrine Financial Group Inc. filed for Chapter 7 bankruptcy late Tuesday, a day after regulators alleged the brokerage misstated more than $200 million in customer accounts. Read the Daily Bankruptcy Review article here.
The former leaders of failed IndyMac Bancorp, including ex-Chief Executive Michael Perry, have agreed to settle a class-action securities lawsuit stemming from the bank-holding company’s collapse four years ago. Read the Daily Bankruptcy Review article via The Wall Street Journal.
This week on The Broke and the Beautiful, the trustee for Scott Rothstein’s law firm makes a slam dunk with a Miami Heat settlement, and college football coach John L. Smith may enter bankruptcy. Also, Thomas Kinkade’s wills won’t be in the dark.
Mammoth Lakes, Calif., on Tuesday filed for Chapter 9, or municipal bankruptcy, less than a week after nearby Stockton, Calif., sought the same protection. Read the Daily Bankruptcy Review article here.
Abound Solar Inc., the recipient of a federal loan guarantee from the U.S. Department of Energy, filed for Chapter 7 bankruptcy liquidation Monday. Read the Daily Bankruptcy Review article here.
Lehman Brothers Holdings Inc. said Friday it has sold its Aurora Bank FSB subsidiary, a move that should help funnel some $1.5 billion into the pockets of Lehman’s creditors. Read the Daily Bankruptcy Review article via The Wall Street Journal.
This week on The Broke and the Beautiful, Nadya “Octomom” Suleman said she still believes in homeownership, and Lenny Dykstra pleaded guilty to bankruptcy fraud. Also, Curt Schilling’s videogame company is under investigation.
