Restructuring

It’s that time of year again for basketball, brackets and bankruptcy.

Weil, Gotshal & Manges LLP’s Bankruptcy Blog is hosting its second competition in honor of March Madness. But instead of college basketball teams, this bracket features 20 important Chapter 11 cases battling for the designation of the top bankruptcy of all time.

4Kids Entertainment Inc.’s real-life Yu-Gi-Oh! battle has officially drawn to a close.

U.S. Bankruptcy Court Judge Shelley C. Chapman Friday gave her blessing to the settlement deal 4Kids cooked up with a pair of Japanese companies that had played the role of adversary during its bankruptcy case.

This week on The Broke and the Beautiful, Lenny Dykstra gets prison time and the owners of the New York Mets must pay up. Also, a judge wants the Los Angeles Dodgers and Bryan Stow to settle their dispute.

J.P. Morgan Securities LLC analysts said Wednesday they are “underwhelmed” by AMR Corp.’s standalone restructuring plan and believe it’s more likely that the parent of American Airlines will merge with a competitor. Read the article in Daily Bankruptcy Review.

A Birmingham, Ala., judge ruled that Jefferson County can move forward with its Chapter 9 bankruptcy case—the largest municipal case in U.S. history—against the efforts of big Wall Street banks that argued that it should be thrown out because of fine print in Alabama state law. Read the Daily Bankruptcy Review article via The Wall Street Journal.