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Satellite mogul Charlie Ergen bid $2 billion for certain spectrum from LightSquared Inc., the bankrupt wireless venture spearheaded by financier Philip Falcone, The Wall Street Journal reports.

Florida home builder Tousa Inc ., which collapsed five years ago when the housing bubble popped, is seeking approval of a Chapter 11 plan that proposes to pay bondholders hundreds of millions of dollars, a big win for the hedge funds who bought up the company’s debt at a deep discount then battled lenders for a payout. Read the story here in the Daily Bankruptcy Review.

The Oreck family is rallying to take back their namesake vacuum-cleaner company from private equity owners in a deal valued at $22 million—a price that founder David Oreck hints is cheaper than what he sold the business for a decade ago.

Oreck, 89, has never stately publicly how much he profited from the 2003 sale of his company. But while his three sons lead the charge to buy the company’s 96 retail stores and 250-worker manufacturing plant in Tennessee out of bankruptcy, Oreck pointed out that the value of the business has certainly fallen in recent years.

A Texas bankruptcy has pulled the plug on TimeGate Studios Inc.’s short-lived restructuring bid, an