WSJcomBankruptcyBeat

Another $1.2 billion could soon be divided among Bernard Madoff’s cheated investors if a bankruptcy judge approves that payout at a court hearing scheduled for Wednesday.

The money won’t flow until Judge Stuart Bernstein of the U.S. Bankruptcy Court in Manhattan signs off on it. Under the proposal, the average payment amount for investors is $1.1 million, though payments range from less than $1,300 to more than $200 million for one investor.

A Justice Department watchdog and several creditors of Caesars Entertainment Operating Co. want to delay the casino unit’s restructuring. Read the Daily Bankruptcy Review article here.

Drug-testing laboratory Millennium Health LLC filed for chapter 11 protection a month after agreeing to settle allegations of billing the federal government for unnecessary tests.Read the Daily Bankruptcy Review article via The Wall Street Journal.

A bankruptcy judge said General Motors Co.  can face punitive damages on defective ignition switch lawsuits in certain circumstances.Read the Daily Bankruptcy Review article via The Wall Street Journal.

The Roman Catholic Archdiocese of Milwaukee will appear in a federal courtroom Monday to ask a judge to formally wind down its bankruptcy, which has dragged out over nearly five years and provoked bitter legal battles that went as high as the U.S. Supreme Court.