The Daily Docket: Defunct Auto Parts Manufacturer Budd Enters Bankru...

Defunct automotive parts manufacturer Budd Co. has filed for Chapter 11 bankruptcy protection with $400 million contributed by parent ThyssenKrupp North America to fund continued retiree benefit payments until those obligations can be resolved in court. Read the Daily Bankruptcy Review article here.

A U.S. judge Tuesday ordered Mt. Gox founder and Chief Executive Mark Karpeles to come to Texas, where the Japanese exchange has filed for U.S. bankruptcy protection. Read the DBR article 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.”)

Silicon and quartz producer Momentive Performance Materials Inc. is preparing to file for bankruptcy later this month, WSJ reports.

General Motors Co. hired victims compensation expert Ken Feinberg to advise the auto company on how to deal with the ignition-switch defect and following recall, WSJ reports.

WSJ also has what you need to know about the GM recalls.

Read about textbook publisher Cengage Learning’s exit from bankruptcy via Reuters.

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