WSJcomBankruptcyBeat

Philip Falcone‘s LightSquared wireless venture has a new reorganization plan tentatively in place that includes Cerberus Capital Management LP, according to a person familiar with the negotiations. The Wall Street Journal has the Daily Bankruptcy Review article here.

Commuters on the F and G subway trains may no longer have

On Tuesday in Manhattan, a judge will consider approving nearly $400 million in fees and expenses for the professionals who worked on the American Airlines bankruptcy.

The amounts were recommended by fee examiner Robert Keach, a former American Bankruptcy Institute president who said the attorneys and advisers engineered “perhaps the most efficient airline reorganization case on record.”

As Detroit nears a crucial point in its restructuring, what lessons does the city’s historic bankruptcy offer troubled municipalities?

As Detroit nears a crucial point in its restructuring, what lessons does the city’s historic bankruptcy offer troubled municipalities?