Restructuring

A judge on Thursday said Eastman Kodak Co. could begin borrowing on a $950 million loan from Citigroup Inc., which the iconic photography company hopes will keep it afloat as it restructures itself during Chapter 11 bankruptcy. Read the Daily Bankruptcy Review article here.

The Federal Deposit Insurance Corp. says Bank of America Corp. owes the failed Colonial Bank $900 million for losses suffered when Colonial collapsed in the wreckage of Taylor Bean & Whitaker Mortgage Corp.’s multibillion-dollar bank fraud. Read the Daily Bankruptcy Review article here.

This week, two sports agents received bankruptcy-related news, and the Dodgers fielded some new bidders. Also, Toni Braxton was hospitalized for lupus, and Nadya “Octomom” Suleman’s fertility doctor filed for bankruptcy.

Sometimes in bankruptcy, as in poker, you’ve gotta know when to hold ‘em and when to fold ‘em. So with an agreement filed Wednesday, Jon Doak decided to lay ‘em down.

After months of attempts by members and creditors of the Southern Montana Electric Generation and Transmission Cooperative to unseat the attorney for Southern Montana, Jon Doak reached an agreement with the Chapter 11 trustee Wednesday to withdraw his application to serve as the company’s bankruptcy lawyer.

The Asian consumer markets are next up to test out the timeless sports truism: It’s all in the wrist.

The Chinese manufacturer that made thousands of Power Balance LLC bracelets got court permission to buy the California-based company after no other bidder put in a higher offer. That deal, valued at more than $8 million, enabled Contec Corp. to “buy” the company using a portion of the debt it was owed on a massive shipment of holograph-using bracelets.