WSJcomBankruptcyBeat

Another Texas oil and gas company, Magnum Hunter Resources Corp., filed for chapter 11 protection seeking a debt-for-equity swap with lenders. Read the Daily Bankruptcy Review article via The Wall Street Journal.

Kids tech company Fuhu had a terrific Black Friday sales promotion, featuring $149 Nabi-branded tablets for $99.

“It was an incredible deal,” said Samantha Begel of Cape Coral, Fla., who ordered two of the child-friendly computer toys for her children from Nabi’s website. (The tablets are also sold at major retailers.)

But the tablets haven’t shown up, and she said emails and hours on hold on the phone haven’t produced a refund or an explanation.

Texas oil company Cubic Energy Inc. filed for chapter 11 protection with a prepackaged plan that would hand control to lenders. Read the Daily Bankruptcy Review article via The Wall Street Journal.

A bankruptcy judge brushed aside objections to Millennium Health LLC’s chapter 11 bankruptcy plan, clearing a big hurdle for the drug-testing company.Read the Daily Bankruptcy Review article via The Wall Street Journal.

Next week will be busy for the bankruptcy courts as bankrupt companies vie for sign-offs before the Christmas holiday break.

Energy Future Holdings Corp. on Wednesday will request permission from a Wilmington, Del., bankruptcy judge to pay up to $158 million in bonuses to hundreds of employees.

The Texas energy company would like to pay annual bonuses to rank-and-file employees next year, saying the bonuses are “are reasonable in cost, will generate substantial additional value in these chapter 11 cases and comply with all applicable provisions of the bankruptcy code.”