News Topic: WSJcomBankruptcyBeat

The government’s bankruptcy watchdog says A123 Systems Inc.’s attempt to pay millions of dollars in “incentive” bonuses to a handful of the battery maker’s insiders appears to be a disguised bid to award the employees with illegal “retention” bonuses. ... Read full article

The unexpected collapse of Lon Morris College has Jacksonville, Texas, reaching for the reins of the rodeo arena that it gave to the private, two-year college during the ambitious expansion that led to its downfall. As an auctioneer prepares to sell off ... Read full article

Homer City Funding LLC, a special-purpose vehicle formed in connection with the $1.6 billion purchase of a Pennsylvania coal-fired power plant in 2001, has filed for Chapter 11 bankruptcy protection after reaching a debt-restructuring deal with its ... Read full article

Rachel Feintzeig Stroock & Stroock & Lavan LLP’s downtown Manhattan office sustained damage from superstorm Sandy that could take weeks to repair. As res ... Read full article

EPA/Franck Robichon Suzuki Motor Corp. ’s U.S. ... Read full article

Federal bankruptcy watchdogs are continuing to wage war against a “bankruptcy premium” they say corporate attorneys may be charging companies in Chapter 11, but they are dialing back some of their demands that had riled members of the bankruptcy bar. Read ... Read full article

This week on The Broke and the Beautiful, Toni Braxton’s estranged husband is in trouble, and musician Cat Power might need to cancel her tour. Also this week, the Dan Marino Foundation won’t have to pay the bankruptcy trustee of Scott Rothstein’s law ... Read full article

Indianapolis Downs LLC won court approval to sell the Indiana Grand racetrack and casino to Centaur Holdings LLC for $500 million, the cornerstone of its restructuring plan. Read the Daily Bankruptcy Review article here . ... Read full article

Frank Merola Restructuring lawyer Frank Merola has worked on a lot of casino ... Read full article

Associated Press The charity founded by ex-football star Dan Marino, pictured here, doesn’t owe money to Rothstein Rosenfeldt Adler’s creditors, a judge ruled. The charity ... Read full article

Electric car maker Fisker Automotive Inc. says recently bankrupt battery maker A123 Systems Inc.'s bid to scrap their contract will “severely harm” its business. Read the Daily Bankruptcy Review article here . ... Read full article

Following the recent collapse of a deal to sell its business to Chinese aircraft manufacturer, Hawker Beechcraft Inc. has filed a new plan to exit bankruptcy in the hands of a group of hedge funds that includes Bain Capital’s Sankaty Advisors. Read the ... Read full article

A123 Systems Inc., the electric-car battery maker that recently filed for bankruptcy, is seeking emergency approval to tap a $50 million loan provided by a Chinese auto-parts maker to fund its Chapter 11 case pending an auction of the clean energy firm. ... Read full article

Editor’s note: On Friday, The Wall Street Journal’s Kelly Greene explored the peril student-loan co-signers face when borrowers default. Bankruptcy Beat’s Katy Stech expands on the dilemma faced when the co-signers themselves end up in bankruptcy to try ... Read full article

First Place financial Corp. has filed for bankruptcy protection and is selling the stock of subsidiary First Place Bank, the Youngstown Vindicator reports . ... Read full article

Associated Press Michael Mancini, who impersonated a bankruptcy lawyer, often called himself a name similar to Supreme Court Justice Antonin Scalia. Hear ... Read full article

This week on The Broke and the Beautiful, a senator from New York wants to keep Hickey Freeman’s operations domestic, a museum did more than entertain the notion of bankruptcy, and a music festival has called it quits. ... Read full article

Warren Buffett  ’s Berkshire Hathaway Inc. was the winning bidder in a bankruptcy auction for a portfolio of loans from Residential Capital LLC , the subprime mortgage unit of government-owned Ally Financial Inc., ResCap said Thursday. Read the Daily ... Read full article