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In the four years since Lehman Brothers Holdings Inc.’s failure, the investment bank has driven more than $90 billion in bankruptcy-claims trading. Read the story here in Daily Bankruptcy Review here.

A bankruptcy judge on Wednesday said Wilbur Ross could pay $110.2 million for a stake in Navigator Holdings Ltd. from the trustee unwinding Lehman Brothers Holdings Inc.’s brokerage business, giving Mr. Ross a 56% stake in the gas tanker business. Read the Daily Bankruptcy Review story here.

A bankruptcy judge said Borders doesn’t owe anything to the gift-card holders who didn’t use their cards before the retailer closed for good and who failed to file claims for the card balances by last year’s deadline.

K-V Pharmaceutical Co . filed for Chapter 11 bankruptcy, a move it said was propelled by the U.S. Food and Drug Administration ‘s failure to enforce orphan drug exclusivity granted to K-V’s key premature-birth drug, Makena. Read the Dow Jones story here in Daily  Bankruptcy Review.

LightSquared ‘s lenders says Philip Falcone ‘s Harbinger Capital Partners won’t hand over documents they are requesting as part of an investigation over whether they can pursue claims against Harbinger and the wireless satellite company. Read the Daily Bankruptcy Review story here.