WSJcomBankruptcyBeat

This week on The Broke and the Beautiful, Vince Young has fumbled in bankruptcy, and Lou Pearlman called his Ponzi scheme smarter than Bernard Madoff’s. Also, there’s more news about Curt Schilling.

The team winding down the remnants of Lehman Brothers Holdings Inc. has reached a far-ranging settlement resolving Fannie Mae’s $18.9 billion claim stemming from mortgage loans and mortgage-backed securities the failed investment bank sold to Fannie Mae before the financial crisis.

The publisher of Fredericksburg, Va., newspaper the Free Lance-Star filed for Chapter 11 bankruptcy protection Thursday.

Fittingly, the newspaper itself was the first to report the news of Free Lance-Star Publishing Co.’s bankruptcy, which was filed in the U.S. Bankruptcy Court in Richmond, Va.

A Fortress Investment Group LLC affiliate won the bidding at Tuesday’s auction of the Montreal, Maine & Atlantic Railway Ltd., which was involved in a deadly crash this past summer. Read the Daily Bankruptcy Review article via The Wall Street Journal.