WSJcomBankruptcyBeat

One of Michigan’s biggest bankruptcy law firms has put itself under Chapter 11 protection, proving that no business is bankruptcy-proof when lawyers are involved.

Frego & Associates, led by attorney James Frego, has filed for bankruptcy and blamed its financial problems on payments owed to Mr. Frego’s former firm, which has shut down.

A federal district judge said the Commodities Futures Trading Commission may move forward with a lawsuit seeking to hold former MF Global Holdings Chief Executive Jon Corzine and an ex-colleague liable for the misuse of nearly $1 billion in brokerage customer funds. Read the Daily Bankruptcy Review article here.

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Discount retailer Dots LLC filed for Chapter 11 bankruptcy protection Monday. Read the story here in the Daily Bankruptcy Review.

Freedom Industries Inc., the company connected to a chemical spill that tainted the water supply in West Virginia, on Friday filed for Chapter 11 bankruptcy protection. Read the DBR story here in The Wall Street Journal.

Hedge-fund manager Philip Falcone, whose Harbinger Capital Partners holds a majority stake in LightSquared, testified Thursday that he didn’t know Dish Network Corp. Chairman Charles Ergen was behind a series of LightSquared debt purchases that are at the heart of an ongoing trial.