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The Asian consumer markets are next up to test out the timeless sports truism: It’s all in the wrist.

The Chinese manufacturer that made thousands of Power Balance LLC bracelets got court permission to buy the California-based company after no other bidder put in a higher offer. That deal, valued at more than $8 million, enabled Contec Corp. to “buy” the company using a portion of the debt it was owed on a massive shipment of holograph-using bracelets.

Hostess Brands Inc., the maker of Twinkies and Wonder Bread, filed for Chapter 11 bankruptcy protection Wednesday to confront burdensome debt and labor costs that it says have left it fighting to compete. Read the Daily Bankruptcy Review article here.

Last year was to bring a flat economy and continued real-estate distress, according to a survey of more than 100 restructuring professionals. Was 2011 all they imagined?

The battle to unseat Jon Doak as bankruptcy attorney for Southern Montana Electric Generation and Transmission Cooperative Inc. continued Friday, with a creditor in the case and member of the Southern Montana co-op claiming it’s Doak’s fault that its trustee was disallowed from an October meeting.

Beartooth Electric Cooperative’s trustee, Arlen Boyd, wasn’t allowed to participate “upon Doak’s recommendation” that three other trustees vote against her participation, Beartooth said in court documents.

This week on The Broke and the Beautiful, Joe Torre heads to bat for a Dodgers bid, and “Next 50” may finally be over. Also, a “Real Housewife” will meet up with Donald Trump.