News Topic: WSJcomBankruptcyBeat

A Birmingham, Ala., judge ruled that Jefferson County can move forward with its Chapter 9 bankruptcy case—the largest municipal case in U.S. history—against the efforts of big Wall Street banks that argued that it should be thrown out because of fine ... Read full article

A federal judge recently freed insurer Travelers from obligations to pay out $510 million in long-running litigation over asbestos liabilities in the three-decade-old bankruptcy of Johns Manville Corp. ... Read full article

Lehman Brothers Holdings Inc. is locked in a high-stakes battle with its former Swiss derivatives subsidiary over billions of dollars in guarantees and intercompany loans, a legal dispute that threatens to delay recoveries for creditors who have been ... Read full article

Bloomberg News Lee Farkas Writing from prison, Lee Farkas is asking the federal government not ... Read full article

Getty Images This past Dec. ... Read full article

This week on The Broke and the Beautiful, Kodak wants to reject an agreement with the PGA Tour and stars in Billy Crystal’s Oscars jokes. Also this week, Oscar winner Meryl Streep donates money to a school in Central Falls, R.I. ... Read full article

Hostess Brands Inc. is defending its bid to shed its pension plans and cut back on benefits for its unionized employees, saying it’s the only way for the company to survive its current trip through bankruptcy. Read the Daily Bankruptcy Review article here ... Read full article

As a general rule, unions try avoid bankruptcy court—a place where airlines and other major corporations have used the court’s power to break pay promises they made to workers through collective-bargaining agreements. But federal bankruptcy court is where ... Read full article

The U.K. Supreme Court said Wednesday that billions of dollars in client cash belongs to customers of Lehman Brothers Holdings Inc.’s U.S. brokerage whether it was properly segregated or not, a win for customers of Lehman’s U.S. unit and the trustee ... Read full article

Getty Images Eastman Kodak Co.’s bankruptcy has a new casualty: its partnership with the PGA Tour. ... Read full article

A company controlled by real-estate mogul Donald Trump is set to buy the Doral Golf Resort & Spa in Miami out of Chapter 11 protection and prepare it for a massive renovation after no other bidders stepped up to challenge its $150 million offer for ... Read full article

A judge on Monday approved Great Atlantic & Pacific Tea Co.’s plan to exit bankruptcy proceedings as a leaner grocery chain by both store count and cost of labor, more than a year after the owner of A&P and other supermarkets filed for Chapter 11. ... Read full article

A legal fight between Lehman Brothers Holdings Inc. and J.P. Morgan Chase & Co. over claims that the bank illegally siphoned billions of dollars from Lehman in the weeks before its collapse illustrates what happens when the “shadow” banking system ... Read full article

Associated Press Host Billy Crystal speaks onstage during the 84th Academy Awards on Sunday. If he was taking bets on Sunday’s Academy Awards, Judge Allan L. ... Read full article

Getty Images A Tennessee company that sold off chunks of the country’s most well-known symbol of freedom—the Statue of Liberty—has filed for bankruptcy protection after years of trying to make money selling t ... Read full article

Reuters Apparently, 2012 is not going to be the year that the Blockbuster retail store rises again. ... Read full article

This week on The Broke and the Beautiful, the name Kodak Theatre is no more and Joe Torre has dropped his bid for the Los Angeles Dodgers. Also, sports agent Leigh Steinberg opens up about his downfall. ... Read full article

A municipal bond insurer that guaranteed sewer debt issued by Jefferson County, Ala., is accusing J.P. Morgan Chase & Co. of unfairly using the county’s bankruptcy case to block the progress of the bond insurer’s own fight against the bank in New York ... Read full article