Restructuring

Milwaukee’s YMCA filed for Chapter 11 bankruptcy protection in the face of declining membership and contributions, pledging that its camps and other programs will continue during its restructuring.

Energy Future Holdings Corp.’s proposal to get out from under a claimed $1.3 billion premium payment to bondholders has two bond trustees crying foul. Read the Daily Bankruptcy Review article here.

An Energy Future Holdings Corp. unit on Thursday will seek bankruptcy-court approval to borrow more than $1.9 billion.

The Wilmington, Del., bankruptcy court will take up the borrowing request, which includes a $1.9 billion loan, plus another $95 million to cover closing fees, at a Thursday hearing.

When Washington, D.C., restaurateur Richard Cervera filed for personal bankruptcy last year, he didn’t tell the court that he had gained a slice of ownership in several Capitol Hill restaurants just nine days prior.

Nor did he mention that he was negotiating a $200,000-a-year salary with the other owners who teamed up to buy the storied Hawk ‘n’ Dove, Molly Malone’s and six other restaurants from Mr. Cervera’s brother, Xavier.

Victims that lost money as a result of General Motors Co.’s ignition-switch problem could be forced to battle Old GM creditors for the remains of a trust that contains just more than $1 billion, accord