WSJcomBankruptcyBeat

The trustee overseeing Peregrine Financial Group Inc. on Thursday outlined plans for the liquidation of the failed U.S. brokerage, seeking court permission to run the business and retain some staff. Read the Wall Street Journal story here.

Ocala Funding LLC, the mortgage-securities unit of defunct lender Taylor, Bean & Whitaker Mortgage Corp ., filed for Chapter 11 protection Tuesday in a bid to recover more than $800 million it said Taylor Bean’s now-imprisoned leaders looted from its coffers. Read the Daily Bankruptcy Review article here.

Peregrine Financial Group Inc. filed for Chapter 7 bankruptcy late Tuesday, a day after regulators alleged the brokerage misstated more than $200 million in customer accounts. Read the Daily Bankruptcy Review article here.

Perhaps no one deserved a family vacation last week more than TaxMasters Inc. founder Patrick Cox, whose signature ginger beard has no doubt sprouted gray hairs since his disgraced nationwide tax-relief firm collapsed into bankruptcy in March.

There could be some fireworks Monday afternoon in federal bankruptcy court in lower Manhattan.