WSJcomBankruptcyBeat

Former British business star Paul Kemsley got a thumbs-down last Friday from a New York bankruptcy judge who was asked to shield Kemsley’s U.S. assets while a court in London helps him deal with creditors.

Judge James M. Peck of the U.S. Bankruptcy Court in Manhattan denied a U.K. trustee’s request to shield Kemsley’s U.S. assets under Chapter 15 of the Bankruptcy Code, which would have protected Kemsley from creditor action in the U.S. pending a resolution of the U.K. proceedings.

Out of bankruptcy with a new owner that allowed “The Ice Cream of the Future” to live on for another day, the unbridled Dippin’ Dots is making an ambitious bounce towards the school cafeteria with a healthier, fat-free product.

Say a little prayer for Dionne Warwick…and her bank account.

Powerwave Technologies Inc. may have to lay off hundreds of employees at its factories in Thailand, India and in Europe after a lender wouldn’t allow the struggling wireless-equipment maker to spend money on its overseas manufacturing plants, according to a person involved with the case. Read the DBR Small Cap article here.