The Daily Docket: FDIC Asks Judge to Toss $1.75B Bank Of America Law...

The Federal Deposit Insurance Corp. is asking a federal judge to dismiss Bank of America Corp.’s $1.75 billion lawsuit seeking to recover losses suffered by investors in a subsidiary of Taylor Bean & Whitaker Mortgage Corp., the latest legal fallout from the collapse of the mortgage lender. Read the Daily Bankruptcy Review story here.

Jackson Hewitt Tax Service Inc. on Monday won court approval to exit bankruptcy with its balance sheet revamped and free from accusations it bilked consumers on tax-related loans. Read the Daily Bankruptcy Review Small Cap story here.

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Barclays’ lawyers say the British bank shouldn’t have to pay former Lehman Brothers employees hundreds of millions of dollars in bonuses and is again asking a judge to dismiss Lehman’s lawsuit seeking that money. Read the DBR story at Deal Journal.

Tokyo Electric Power Co. reported Tuesday a $7.35 billion net loss for its fiscal first quarter, with red ink surging on higher fuel and compensation costs as the utility continues to grapple with the Fukushima Daiichi nuclear disaster, The Wall Street Journal reports.

WSJ looks at the disputes between rebounding U.S. airlines and their pilots, many of whom in the last decade have seen their hourly pay cut and their pensions wiped out.

Colombian soccer club Millonarios, once owned by a drug cartel billionaire, plans to list shares as new owners and a Harvard University-trained turnaround specialist lead it out of bankruptcy, reports Bloomberg.

A Los Angeles judge on Monday set a September pretrial hearing for former New York Mets star Lenny Dykstra on grand theft auto charges, reports Reuters.