The Daily Docket: Farkas Asks Judge to Toss Conviction

Former mortgage executive Lee Farkas is asking a judge to toss his conviction for orchestrating a multibillion-dollar fraud because of the shoddy defense he says his lawyers put up. Read the Daily Bankruptcy Review article here.

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According to The Wall Street Journal, a government witness testified Tuesday that Bernard Madoff’s entire company was a fraud, not just the investment business that hosted the massive Ponzi scheme.

Oil and gas company OGX Petroleo e Gas Participacoes SA might file for bankruptcy pretty soon, Bloomberg reports.

Bloomberg has more on the Commodities Futures Trading Commissions’ upcoming adoption of new rules to better protect customer funds.

Residential Capital LLC parent Ally Financial Inc. is settling with regulators over mortgage-backed securities sold during the financial crisis, WSJ reports.

Detroit Emergency Manager Kevyn Orr said he might force a cramdown deal on creditors if they don’t accept a restructuring plan, Reuters reports.

According to Bloomberg, American Airlines Chef Executive Tom Horton thinks there will be a way to settle the Department of Justice’s antitrust suit over the airline’s planned merger with U.S. Airways Group Inc.

Eastman Kodak Co. is set to list its stock in the New York Stock Exchange Friday, the Associated Press reports.

The fight is heating up in the battle over the Philadelphia Inquirer, the New York Post reports.

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