The Daily Docket: Crumbs Bake Shop Closes

Crumbs Bake Shop Inc . notified employees Monday that it would be closing all of its stores at the end of the business day, a spokeswoman for the New York-based cupcake maker said. The Daily Bankruptcy Review article is available via The Wall Street Journal.

(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 dealt a blow to the continuing global hunt for the billions of dollars that Bernard Madoff stole from investors, ruling that payments to certain recipients outside the U.S. can’t be recovered. WSJ has the DBR article here.

Nuclear power plant fuel supplier USEC Inc. was cleared Monday to start polling creditors on a Chapter 11 bankruptcy plan that would put the U.S. government contractor into the hands of bondholders, DBR reports via WSJ.

Hedge fund Standard General is talking with American Apparel Inc. to work on finances and strengthen management, WSJ reports.

Puerto Rico’s public utility reached a deal with banks to defer some payments until the end of the month, WSJ reports.

According to WSJ, the California Public Emlployees’ Retirement System and hedge fund Franklin Templeton Investments are clashing over whether municipal bankruptcy should allow for the protection of public pension plans.

The New York City Opera’s potential buyer is objecting to delays on the consideration of his bid, Reuters reports.

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