WSJcomBankruptcyBeat

China’s Wanxiang Group emerged as the winning bidder Friday at a bankruptcy auction for the assets of Fisker Automotive Inc., according to sources familiar with the results of the competition. Read the Daily Bankruptcy Review article via The Wall Street Journal.

New Jersey Bankruptcy Judge Morris “Mickey” Stern, died Wednesday after battling cancer for more than a year. He was 72.

Judge Stern—called “Mickey” by colleagues—became a judge in 2001 in the U.S. Bankruptcy Court in Newark, N.J., where he presided over the bankruptcy cases for Bayonne Medical Center and for St. Mary’s Hospital in Passaic. He also handled the bankruptcy of Real Housewives star Teresa Giudice in 2010.

This week on The Broke and the beautiful, a couple of celebrity bankruptcy cases are coming to light. Sitcom star Drake Bell has been in bankruptcy since last May, and former “Baywatch” star Donna D’Errico took her own turn in Chapter 7. Also, Betsey Johnson puts her own spin on New York Fashion Week.

The team unwinding Lehman Brothers Holdings Inc. has reached a $767 million settlement with Freddie Mac, which will result in Lehman Brothers releasing hundreds of millions of dollars more to customers. Read the Daily Bankruptcy Review article via MoneyBeat.