The Daily Docket: Ernst Seeks Dismissal of Lehman Suit

Ernst & Young is asking a federal judge to dismiss a lawsuit filed by the New York Attorney General accusing the accounting giant of helping Lehman Brothers Holdings Inc. disguise its financial condition while collecting more than $150 million in fees from the firm. Read the Daily Bankruptcy Review article here.

The closely watched bankruptcy case of Central Falls, R.I., hit its first major roadblock with a dispute that will lead the city’s teachers to challenge a Rhode Island law that they say unfairly shields the debt held by municipal bondholders. Click here to read the article in DBR Small Cap.

(The Daily Bankruptcy Review and DBR Small Cap are daily newsletters with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial to DBR, click here. For DBR SC, click here.)

According to The Wall Street Journal, customers of MF Global Holdings Ltd. have been wrapped in red tape when trying to recoup their missing money.

Regulators approved new rules to safeguard customer funds in certain derivatives markets, WSJ reports.

CNN Money discusses why bankruptcies don’t kill iconic brands.

According to Emerging Europe Real Time, Russian vodka maker Vinexim sought bankruptcy protection.

Susheel Kirplani, who’s recently been involved in many major bankruptcies, has been appointed examiner of the Dynegy Holdings LLC case, Reuters reports.

According to the Associated Press, the Los Angeles Dodgers won approval of a settlement with Fox Sports clearing the way for a sale. The Dodgers will adhere to their contract with the network.

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