WSJcomBankruptcyBeat

U.K. yellow-pages company Hibu PLC on Tuesday put six U.S. subsidiaries into Chapter 15 bankruptcy protection in the U.S. as the company tries to restructure overseas. Read the Daily Bankruptcy Review article here.

The trustee winding down Lehman Brothers Holdings Inc.’s brokerage business has reached an agreement with Lehman Brothers Japan Inc. and several other of its Japanese subsidiaries that settles hundreds of millions of dollars in claims. Read the Daily Bankruptcy Review article here.

U.S. companies will continue defaulting near their current low rates barring a major crisis overseas, a bankruptcy expert said in his 13th annual address to restructuring professionals on Monday.

In his annual speech put on by the New York chapter of the Turnaround Management Association, New York University professor Edward I. Altman said he expects only a 2.03% default rate for U.S. corporate bonds in 2014, but an implosion in another country could change that number dramatically.

Time to shop is growing short for Loehmann’s bargain hunters. Less than three weeks into the going-out-of-business sales, five locations have already closed completely.

Dish Network Corp. Chairman Charlie Ergen is again fighting with a group of hedge funds that hold LightSquared’s bank debt, this time over which side should be providing a short-term bankruptcy loan to keep LightSquared afloat. Read the Daily Bankruptcy Review article via The Wall Street Journal.