The Daily Docket: Bill Gates Controlled Optim Enters Bankruptcy

Optim Energy LLC, an energy business owned by Bill Gates ’ investment company, filed for Chapter 11 bankruptcy protection Wednesday in Delaware, stating that its executives couldn’t get the consent they needed to borrow more money under a credit facility. Read the Daily Bankruptcy Review article here.

(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 our homepage, scroll to the bottom and click “try for free.”)

A federal judge allowed MF Global Holdings Ltd.’s commodity customers to move forward with a class-action lawsuit against former Chief Executive Jon Corzine and other officials, although the judge narrowed its scope. Read the DBR article via The Wall Street Journal.

According to Bloomberg, Texas sports network CSN Houston won’t have to halt its restructuring, dealing a loss to Major League Baseball’s attempt to halt the case.

The Securities and Exchange Commission balked at Edison Mission’s bankruptcy plan, DBR (sub. req.) reports.

LightSquared might file its bankruptcy plan by Friday, Reuters reports.

First Mariner Bancorp has lined up a $2.5 million bankruptcy loan to allow it to continue operations as it works to sell its assets at auction. The DBR article is available via WSJ.

Credit Slips looks at how tax season affects money recouped from debt cancellation.

Fifth Third Bank accidentally said some custoimers had filed for bankruptcy, WLWT Cincinnati reports.

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