Bill Gates’s Optim Energy Settles With Blackstone

Optim Energy LLC will pay Blackstone Group LP $5 million to settle their fight in the Texas power-plant operator’s bankruptcy case in exchange for Blackstone dropping its appeal of Optim’s court-approved plan to exit bankruptcy. Read the Daily Bankruptcy Report story in The Wall Street Journal.

The Journal takes a long look at Donald Trump’s lucrative relationship with ACN Inc., a multilevel marketing firm that has paid him millions while weathering regulatory investigations in three countries.

Ocean driller Hercules Offshore Inc., the latest casualty of plunging oil prices, filed for chapter 11 bankruptcy protection on Thursday to implement a $1.2 billion debt-for-equity swap with its bondholders. Read the DBR story in the Journal.

The Tulsa World writes Samson Resources could file for Chapter 11 bankruptcy before a substantial interest payment comes due Saturday.

Terre Haute, the former home of Columbia House, remembers the glory days, the Associated Press reports.

The Albuquerque Journal writes that the Diocese of Gallup’s assets are “virtually non-existent” and insurance coverage is “extremely limited” for settling the diocese’s Chapter 11 bankruptcy case.

Write to Patrick Fitzgerald at [email protected]. Follow him on Twitter at @PatFitzgerald23