The Daily Docket: Furniture Brands Taps Restructuring Advisers

Furniture Brands International Inc., one of the nation’s largest home furniture makers, has tapped restructuring lawyers and advisers to deal with its debt load, people familiar with the matter said. Read the Daily Bankruptcy Review article via The Wall Street Journal.

Members of the United Mine Workers of America union ratified a new labor agreement with Patriot Coal Corp. that will help the debt-laden mining company save $130 million annually. Read the DBR article here.

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Detroit’s pension funds are disputing how emergency manager Kevyn Orr calculated unfunded liabilities, WSJ reports.

Also according to WSJ, the city’s public schools are set to pay a lot as they look to sell $92 million in debt.

Hedge-fund manager Philip Falcone is getting barred from the hedge-fund industry for at least five years under a new settlement with the U.S. Securities and Exchange Commission, Bloomberg reports.

Revstone Industries LLC is asking a bankruptcy judge to toss a rival restructuring plan filed by the committee representing its unsecured creditors. Read the DBR Small Cap article via Nasdaq.

According to Bloomberg, the chairman of Montreal, Maine & Atlantic Railway Ltd. thinks the company will win a judge’s approval to keep operating.

Credit Slips discusses the group of people working on Detroit’s Chapter 9 bankruptcy case.

The Miami Jai-Alai facility’s owner filed for bankruptcy protection, the South Florida Business Journal reports.

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