The Daily Docket: FDIC Accuses Colonial Of Stalling In Legal Fight

Still smarting from a recent bankruptcy court ruling in favor of Colonial BancGroup Inc., the Federal Deposit Insurance Corp. says the bank-holding company is dragging its feet in a bid to derail an upcoming hearing in their long-running legal fight. Read the Daily Bankruptcy Review story here.

Linden Ponds Inc., a 108-acre retirement community located in Hingham, Mass., sought bankruptcy protection after declining occupancy rates and a burdensome debt load propelled it to strike a prepackaged reorganization plan. Read the Daily Bankruptcy Review Small Cap story here.

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TerreStar Networks Inc. selected Dish Network Corp. as the opening bidder in a looming bankruptcy-court auction after receiving a $1.375 billion offer for the mobile-communications business. Read The Wall Street Journal story here.

Barclays PLC and the estate of bankrupt investment bank Lehman Brothers Holdings Inc. are butting heads over how to unwind apartment giant Archstone, a $22 billion investment made near the height of the commercial-real-estate boom that played a large role in Lehman’s undoing, WSJ reports.

Washington Mutual Inc.’s shareholder committee has resumed its investigation of alleged insider trading by four hedge funds involved in direct restructuring talks with the bank’s bankruptcy estate, reports WSJ.

Borders Group Inc. reached a tentative deal with bankruptcy lenders to avoid closing more than three dozen stores, says WSJ.

Majestic Star Casinos has cut 50 full-time jobs and is closing a gambling floor on one of its boats, the Associated Press reports.

A judge has rejected a bid by imprisoned Adelphia Communications Corp founder John Rigas and his son Timothy to dismiss a federal criminal tax case stemming from their activity at the bankrupt cable television company, writes Reuters.