The Daily Docket: Court Affirms Credit Bidding

The U.S. Supreme Court affirmed Tuesday the right of lenders to use their debt as currency in bankruptcy auctions in a unanimous decision sure to reverberate through the corporate restructuring community. Read the Daily Bankruptcy Review article here.

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Law professor Stephen Lubben weighs in on the credit-bidding issue via DealBook.

The Wall Street Journal looks at how Dewey & LeBoeuf LLP will start to unwind.

A judge denied a request for Dewey to tap cash collateral, one of the key developments in the firm’s first-day hearings, Am Law Daily reports.

Many people think special servicers need to do more to ease investor concerns about workouts, WSJ reports.

Reuters reports that a judge ruled that taped conversations between Manson family killer Charles Watson and a lawyer in 1969 need to given to Los Angeles police. The tapes surfaced during a bankruptcy involving the lawyer’s now-defunct law firm, which represented Watson.

LightSquared Inc. may have filed for bankruptcy and let go of nearly half its workforce, but it’s keeping its lobbyists, the Hill reports.

According to Bloomberg, payments to MF Global Holdings Ltd.’s U.K. arm might get delayed because of a legal dispute.

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