The Daily Docket: Borders Fate To Be Decided This Weekend

The Wall Street Journal reports the fate of Borders Group Inc. hangs in the balance this weekend, with a Sunday deadline looming for the bookstore chain to either find a buyer or face liquidation.

Bondholders who fought for months to toss more than a dozen of Vitro SAB’s U.S. subsidiaries into Chapter 11 are now asking the court to make clear that those units are not in bankruptcy. Read the Daily Bankruptcy Review story here.

The months-long fight over GSC Group Inc.’s fate will continue as a lender group appeals the investment-management company’s $253.5 million sale to lead lender Black Diamond Capital Management LLC. Read the Daily Bankruptcy Review Small Cap story here.

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South Korea’s A&P Financial Co. said Friday it aims to turn around failed Japanese consumer lender Takefuji Corp. by reallocating branches and its streamlining its work force, reports WSJ.

Chrysler Group LLC and Fiat SpA, auto makers that bounced back from severe financial crises a few years ago, are preparing to rejoin the auto industry’s top ranks through a merger that would have the financial and production heft to compete globally, WSJ says.

Lee Enterprises Inc. is offering lenders higher rates and equity interests to refinance debt as the owner of the St. Louis Post-Dispatch seeks to avoid bankruptcy, Bloomberg reports.

Frank McCourt wants the Bankruptcy Court to approve a loan in which the Dodgers owner has “a substantial personal financial stake,” attorneys for Major League Baseball say. Read the Los Angeles Times story here.

A German court has seized a Royal Thai jet flown by the crown prince in multimillion dollar bankruptcy dispute, the Australian newspaper reports.

German retailer Tengelmann expects to exit its holding in Great Atlantic & Pacific Tea when the U.S. grocery store chain emerges from bankruptcy protection, reports Reuters.