The Daily Docket: Banco de Madrid Enters Bankruptcy

According to The Wall Street Journal, Spain’s Banco de Madrid SA filed for bankruptcy after its parent, Andorran lender Banca Privada d’Andorra, was accused of money laundering.

A bankruptcy judge on Friday denied approval of an $82 million deal to sell the Revel Casino Hotel in Atlantic City, N.J., to Glenn Straub, a Florida-based developer, Daily Bankruptcy Review reports in WSJ.

(Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit http://on.wsj.com/DJBankruptcyNews, scroll to the bottom and click “try for free.”)

Ernst & Young LLP has agreed to settle a pair of lawsuits filed by the state of New Jersey and a handful of California cities and counties over losses they suffered when Lehman Brothers Holdings Inc. collapsed. The DBR article is available in WSJ.

A judge gave the examiner in Caesars Entertainment Operating Co.’s bankruptcy case a wider scope of power than the casino company wanted. Read the DBR article in WSJ.

Two former Freedom Industries executives are heading to court for plea hearings Monday on charges related to last year’s massive chemical spill, the Associated Press reports.

A competitive auction over the future of Wet Seal Inc. ended late Thursday with Versa Capital Management LLC agreeing to take over at least 140 of the teen clothing chain’s stores, DBR reports in WSJ.

Yeow Cab off Reno, Nev., said it may need to file for bankruptcy if it has to pay major attorney fees following a judge’s finding that it violated the American Disabilities Act, the AP reports.

Write to Melanie Cohen at [email protected]. Follow her on Twitter at @MelanieLisa