WSJcomBankruptcyBeat

The trust in charge of overseeing Residential Capital LLC’s liquidation is trying to make the former mortgage servicer’s expensive bankruptcy case a little cheaper. Read the Daily Bankruptcy Review article here.

Facing declining enrollment stemming it says from negative publicity about a 2008 foreclosure action, it says, a Brooklyn prep school filed for Chapter 11 bankruptcy Monday.

Adelphi Academy of Brooklyn said that it filed for bankruptcy because it’s been unable to operate profitably after the lowered enrollment that followed 2008 news reports of a foreclosure by its lender, Metropolitan National Bank, which holds a $6.2 million note, according to court documents.

LightSquared burned through $59.1 million in May, bringing its total losses to $1.41 billion since Phil Falcone ’s wireless venture filed for bankruptcy in May 2012. Read the Daily Bankruptcy Review article here.

Retired basketball star Scottie Pippen didn’t score a slam dunk at the U.S. Supreme Court Monday.

Owners of a Delaware daycare center whose workers pushed three-year-old boys into a fistfight and then captured the event on a cell phone video can’t use bankruptcy to get out from under a possible damage award, a judge said this week.