The Daily Docket: Drug Maker Dendreon Files for Bankruptcy

Dendreon Corp. filed for Chapter 11 bankruptcy protection Monday after coming to terms with senior lenders on a restructuring that could mean a reorganization or a sale of its cancer drug operation. Read the Daily Bankruptcy Review story in 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.”)

GT Advanced Technologies Inc. said it sought bankruptcy protection last month because Apple Inc., a key customer, engaged in a “classic bait and switch” strategy that left the company stuck in “an onerous and massively one-sided deal,” WSJ reports.

General Motors Co. ordered a half-million replacement ignition switches to fix Chevrolet Cobalts and other small cars almost two months before it alerted federal safety regulators to the problem, according to emails viewed by The Wall Street Journal.

Detroit and a key creditor group were at an impasse over nearly $400 million in bond claims when Judge Gerald Rosen decided it was time to go to the barbershop. Read Jacqueline Palank’s exclusive on WSJ’s MoneyBeat.

The bankruptcy professionals running U.K.-based Formula One team Marussia have pulled the plug on the team’s restructuring, but the group running Caterham’s rival Formula One team are asking fans to pitch in more than $3.7 million in bid to get to starting line of the Abu Dhabi Grand Prix, writes WSJ.

Manhattan’s federal bankruptcy court is undergoing dramatic a turnover, writes Reuters.

The Gherkin, the distinctive London building that’s in receivership, has been bought by Brazilian billionaire, the BBC reports.

Ship fuel prices rose on Monday and buyers scrambled for new stocks after the bankruptcy of the world’s biggest supplier, Denmark’s OW Bunker, due to a suspected fraud at its Asian subsidiary plunged the troubled sector into fresh turmoil, Reuters reports.

R&B singer Ginuwine is “very close to declaring bankruptcy,” his lawyer admitted during a pretrial hearing pitting the singer against a producer, the New York Daily News reports.

Write to Patrick Fitzgerald at [email protected]. Follow him on Twitter at @PatFitzgerald23.