The Daily Docket: Ambac Wins Approval of Chapter 11 Plan

A judge confirmed Ambac Financial Group Inc.’s plan to exit bankruptcy in the hands of its bondholders, a big step forward for a company that served as one of the enduring faces of the derivatives-driven financial services bubble and its catastrophic implosion. Read the Daily Bankruptcy Review story here

Getty Petroleum Marketing Inc. is gearing up to defeat a $230 million arbitration award in favor of its former ethanol supplier, Bionol Clearfield LLC. Read the Daily Bankruptcy Review Small Cap story here.

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Investment bank Jefferies Group Inc.’s commodities arm has agreed to buy the gold, silver and other precious-metals assets from the trustee liquidating MF Global Holdings Ltd.’s brokerage business. Read the DBR story here in The Wall Street Journal.

The U.S. Commodity Futures Trading Commission charged a former MF Global Ltd. broker with attempted manipulation of palladium and platinum futures prices, WSJ says.

Three suitors are expected to submit bids in bankruptcy court on Thursday to acquire troubled Christ Hospital in Jersey City, N.J., WSJ writes.

Edward S. Lampert’s hedge fund has stepped in to make sure vendors continue to supply Sears Holdings Corp.  stores by assuming some of the risk of financial institutions that provide a form of insurance to the vendors, WSJ reports.

Philadelphia Eagles quarterback Michael Vick, is nearly free of $20 million bankruptcy debt, says Forbes.

The Los Angeles Times reports Peter Guber, the co-owner of the Golden State Warriors and a veteran Hollywood executive, has joined the Dodgers bid group led by Magic Johnson.

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