The Daily Docket: Furniture Brands Board Pits KPS as Lead Bidder

Furniture Brands International Inc.’s board of directors has switched course, replacing Oaktree Capital Management with New York’s KPS Capital Partners LP as the lead bidder at an upcoming bankruptcy auction. Read the Daily Bankruptcy Review article here.

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Major U.S. honey supplier Groeb Farms Inc. filed for Chapter 11 bankruptcy protection Tuesday after it was caught illegally buying Chinese honey through other countries to avoid antidumping tariffs imposed by U.S. trade regulators in 2001. Read the DBR Small Cap article via The Wall Street Journal.

Thousands of MF Global customers are close to getting repaid, WSJ reports.

A bankruptcy judge said a Michigan employment judge can issue an opinion on whether Detroit infringed on labor laws when it wouldn’t let retirees get an extra pension check, Bloomberg reports.

The Am Law Daily (sub. req.) reports on Jones Day’s $18 million cap in its contract with Detroit.

Fiat SpA Chief Executive Sergio Marchionne said the company isn’t closer to making a deal with a retiree trust over Chrysler Group LLC, Bloomberg reports.

According to Reuters, the Public Utilities Commission of Ohio voted to accept Ormet Corp.’s new power deal with American Electric Power Co.

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