The Daily Docket: Ex-Owners Settle Lake Las Vegas Suit for $115 Mill...

The former owners of Lake Las Vegas, including two of Texas’ billionaire Bass brothers, paid $115 million last month to quietly settle a long-running lawsuit tied to the luxurious golf community and resort’s collapse into bankruptcy in 2008, according to confidential settlements viewed by The Wall Street Journal. Read the exclusive Daily Bankruptcy Review story in the Journal.

Phil Falcone is stepping down from Harbinger Group and will work with two prominent investment firms on a potential restructuring bid for LightSquared, WSJ reports.

Creditors of failed smartphone screen material supplier GT Advanced Technologies will get a peek at Apple Inc.’s secrets under a protective court order signed Tuesday. Read the DBR story in the Journal.

U.S. regulators said Wells Fargo & Co. has convinced them that the financial system could avoid serious damage if the bank were to ever collapse, giving it a passing grade that ratchets up the pressure on other big banks slammed for producing unrealistic bankruptcy plans a few months ago, WSJ reports.

San Francisco-based Payward Inc., operator of the Kraken bitcoin exchange, will help the collapsed Mt. Gox exchange investigate the loss of hundreds of thousands of bitcoins and manage the process of paying back its creditors, WSJ reports.

Surging real estate values are improving the prospects for a payout to Anglo Irish bondholders, reports Bloomberg.

The Associated Press reports some of the hottest action in Atlantic City involves closed casinos in bankruptcy court, where Donald Trump is trying to recoup rent he paid on a driveway and the city is fighting to collect more than $50 million in unpaid taxes.