The Daily Docket: AES Eastern Enters Bankruptcy

Debt-laden electric power company AES Eastern Energy LP filed for Chapter 11 bankruptcy with a plan to sell its two upstate New York coal-fired power plants. Read the Daily Bankruptcy Review article via The Wall Street Journal.

The year ahead is set to be characterized by further macroeconomic uncertainty, and banks are expected to come under pressure as a result of the financial crisis and mounting regulation. Read the article in DBR here.

China’s Jade Cargo International Company Ltd. said Saturday that it had temporarily grounded its fleet of six Boeing 747 freighter planes because of weak demand. Click here to read the article in DBR Small Cap.

(The Daily Bankruptcy Review and DBR Small Cap are daily newsletters with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial to DBR, click here. For DBR SC, click here.)

Ally Bank, which is owned by the U.S. government, won’t force its ResCap unit into bankruptcy protection, the New York Post reports.

According to WSJ, former MF Global Holdings Ltd. Chief Executive Jon Corzine’s European bond strategy is becoming clearer.

Credit Slips discusses the decline in bankruptcy filings by chapter.

Bankruptcy Judge Arthur J. Gonzalez, who handled such iconic cases and Enron and Chrysler, will retire in March, DealBook reports.

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