Restructuring

Hostess Brands Inc.’s chief executive says the contentious battle over union pension plans has become a “gate-keeping issue” in the case that

The ice cream of the future may have dodged its apocalypse.

This week on The Broke and the Beautiful, Newt Gingrich’s think tank elects for bankruptcy protection, and the Dodgers and AFA Foods have a surprising connection. Also this week, Young Buck’s intellectual property is rapping its way toward the auction block.

While not necessarily predicting a bust to Brazil’s boom, a budding group of turnaround professionals in the South American nation are getting ready for what they see as an inevitable shakeup.

An abundant supply of credit over the past decade, a loss of competitiveness in many industries—such as textile and agribusiness—to the likes of India and China, and a large number of family-run companies, are conspiring to unleash a wave of restructuring, said Salvatore Milanese, a partner in the restructuring practice of KPMG in Sao Paulo.

Jefferson County, Ala., is worried that it could be exposed to another multimillion-dollar debt on a lawsuit with Wall Street bond insurers. Read the Daily Bankruptcy Review article via The Wall Street Journal.