WSJcomBankruptcyBeat

It’s nearly impossible to cancel your student loan debt in bankruptcy.

Fewer than 1,000 people try each year. Those who do are required to file a lawsuit against their lenders and then convince a bankruptcy judge that they’re so poor there’s no hope of ever repaying the loans.

Phil Falcone and LightSquared urged a bankruptcy judge to reject a plan to sell the company’s wireless spectrum assets to Charlie Ergen’s Dish Network Corp., a deal they say is inferior to LightSquared’s proposal to reorganize on its own. Read the Daily Bankruptcy Review article via The Wall Street Journal.

This week on The Broke and the Beautiful, Eddie Montgomery is rolling with bankruptcy and so is the chairman of a far-right political party in Britain. Also, a lawsuit against film financier David Bergstein was dismissed.

Hybrid Tech Holdings LLC has bumped up its offer for Fisker Automotive Inc. in a bid to ward off competition for the hybrid-car company from a unit of China’s Wanxiang Group. Read the Daily Bankruptcy Review article via The Wall Street Journal.

According to The Wall Street Journal, Fiat SpA is set to get full control of Chrysler Group LLC in a deal worth $4.35 billion.