The Daily Docket: Detroit Sends Debt-Cutting Plan to Creditors

The city of Detroit presented creditors with a debt-cutting plan, The Wall Street Journal reports.

Judge James Peck on Wednesday approved Lehman Brothers Holdings Inc.’s settlement with Fannie Mae over $18.9 billion in mortgage claims, a last major decision for Lehman’s bankruptcy judge before his retirement at the end of the week. Read the Daily Bankruptcy Review article via WSJ.

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W.R. Grace & Co. got the nod from a bankruptcy judge to sign up for as much as $1.55 billion worth of exit loans ahead of the last scheduled hearing in its nearly 13-year-long Chapter 11 case. The DBR article is available via WSJ.

The relatives of those killed in last summer’s train derailment in Quebec are turning to former U.S. Senator George Mitchell to make sure they get paid in the railway company’s bankruptcy. Read the DBR article via WSJ.

Blockbuster may be all but gone in the U.S., but it’s become an upscale chain in Mexico, Bloomberg reports.

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