The Daily Docket: Borders Preps for Sale

As liquidators work to clear books from its retail shelves, Borders Group Inc. is preparing for a sale that could enable the bookseller’s brand to live on even after its stores go dark. Read the Daily Bankruptcy Review article here.

The Roman Catholic Diocese of Wilmington Thursday won confirmation of its Chapter 11 exit plan after it made revisions ordered by a bankruptcy judge who was concerned the plan would allow payment to priests who molested children. Click here for the DBR Small Cap article.

The Wall Street Journal looks at Carl Icahn’s audacious proposal to restructure ailing power producer Dynegy Holdings Inc.

The court-appointed trustee recovering money for investors swindled by Bernard Madoff reached a settlement of more than $1 billion with Tremont Group Holdings Inc., one of the largest funds that allegedly channeled money into his Ponzi scheme, says WSJ.

Debt-laden Jefferson County put off a special meeting slated for Thursday, in which officials had planned to consider filing what would be the largest bankruptcy in municipal history, WSJ reports.

Meanwhile, according to WSJ, a federal judge gave preliminary approval to the city of Vallejo’s plan to emerge from bankruptcy Thursday, putting the Northern California city one step closer to finalizing bankruptcy proceedings.

Russian businessman Vladimir Antonov is working on a plan for Saab to pay back a loan from the European Investment Bank, which he says blocked his proposal to buy into the ailing carmaker, Reuters reports.

Empresas La Polar SA, the Chilean retailer that set aside $900 million last month for consumer- lending losses, will seek a court agreement with creditors to renegotiate repayments and avoid bankruptcy, Bloomberg reports.