White-Collar Crime

Koch Industries Inc., whose billionaire owners are funding an

A judge Thursday cleared Hostess Brands Inc. to borrow the entirety of its $75 million bankruptcy loan, siding with the maker of Twinkies and Wonder Bread over protests from unsecured creditors who warned the financing deal would drive the company toward “extinction.” Read the Daily Bankruptcy Review article here.

This week on The Broke and the Beautiful, Wendy Williams does her part to keep Twinkies alive, and boy-band mogul Lou Pearlman’s trustee must be feeling larger than life. Also this week, Jefferson, County, Ala., scores a run against J.P. Morgan Chase & Co. on its dealings with Houston Astros owner Jim Crane.

The Federal Deposit Insurance Corp. says Bank of America Corp. owes the failed Colonial Bank $900 million for losses suffered when Colonial collapsed in the wreckage of Taylor Bean & Whitaker Mortgage Corp.’s multibillion-dollar bank fraud. Read the Daily Bankruptcy Review article here.

Lehman Brothers Holdings Inc. sparred in court Thursday with Bank of America Corp. and Barclays PLC over the future of the Archstone apartment company if a big stake in the firm ends up in the hands of its biggest rival, Sam Zell’s Equity Residential. Read the Daily Bankruptcy Review article here.