Restructuring

This week on The Broke and the Beautiful, a company formerly headed by “L.A. Law” actor Corbin Bernsen took its drama to bankruptcy court, and the Los Angeles Dodgers were sued by Fox Sports over broadcasting rights. Also, MLB threatened to toss the team from the league if owner Frank McCourt can’t step up to the plate.

Graceway Pharmaceuticals LLC filed for Chapter 11 bankruptcy protection Thursday, one day after announcing its plans to seek a sale of its assets to Galderma S.A. Read the Daily Bankruptcy Review article here.

Four hedge funds accused of insider trading in Washington Mutual Inc.’s bankruptcy case are appealing a ruling that denied confirmation of the company’s Chapter 11 plan and found they could be held to account to shareholders for alleged improper behavior. Read the Daily Bankruptcy Review article here.

Major League Baseball is willing to boot the Los Angeles Dodgers from its ranks if the league can’t come to terms with the team’s embattled owner Frank McCour

This week on The Broke and the Beautiful, the sports world is again overshadowing the rest of the celebrity bankruptcy world. A “Real Housewives” couple are in the spotlight, but the Dallas Stars are elbowing for a close-up, with several bidders possibly lining up to buy the team. Also this week, the Phoenix Coyotes saga lives on, and New York Jets player Mark Brunell is throwing out a new idea for his post-bankruptcy, post-NFL life.