Restructuring

Next week in bankruptcy, vitamin and supplement supplier Natrol Inc. and its lender, Cerberus Business Finance LLC, will go to court to settle a dispute over control of the company.

Last month, Cerberus asked Judge Brendan Shannon of the U.S. Bankruptcy Court Wilmington, Del., to oust Natrol’s current management, replacing executives with a Chapter 11 trustee.

Philip Falcone‘s LightSquared on Tuesday unveiled a $3.05 billion restructuring plan that would give 74% of the wireless venture to Cerberus Capital Management LP, Fortress Investment Group  LLC and J.P. Morgan Chase & Co., and leave Mr. Falcone with just 12.5% of the reorganized company’s equity. The Wall Street Journal has the Daily Bankruptcy Review article here.

Philip Falcone‘s LightSquared wireless venture has a new reorganization plan tentatively in place that includes Cerberus Capital Management LP, according to a person familiar with the negotiations. The Wall Street Journal has the Daily Bankruptcy Review article here.

Settlement talks may be in the works as the long-running trial over Nortel Networks Corp.'s billions winds to a close. The Wall Street Journal has the Daily Bankruptcy Review article here.

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