Restructuring

EnCap Investment LP’s Robert Zorich has the bankruptcy court’s approval to complete his $1.7 million purchase of a large chunk of Alma Rosa Winery’s vineyards.

Although the winery is under new ownership, perhaps little about the pinot noir wines, made famous in the movie “Sideways,” will change. The deal plans for hall-of-fame winemaker Richard Sanford to continue producing wine on the property as an employee.

The Houston Rockets basketball team is trying to persuade two major cable providers to begin broadcasting the struggling Comcast SportsNet Houston television channel, which now shows basketball games and Houston Astros games to less than half of the region’s households. Read the Daily Bankruptcy Review article via The Wall Street Journal.

According to The Wall Street Journal, Centerbridge Partners LP reached a tentative deal to buy LightSquared out of Chapter 11, possibly trumping a bid by Dish Network Corp.

A judge Tuesday allowed LightSquared to move forward with its lawsuit against Dish Network Corp. and Chairman Charlie Ergen over his purchases of LightSquared debt before Dish’s bid for the wireless satellite company’s assets. The Daily Bankruptcy Review article is available via The Wall Street Journal