The Daily Docket: General Maritime Plunges Into Bankruptcy

General Maritime Corp. voluntarily filed for Chapter 11 bankruptcy and reached agreements with key senior lenders for a financial restructuring that will allow the oil-tanker company’s operations to continue. Click here to read the article in Daily Bankruptcy Review.

Freight company Trailer Bridge Inc. filed for Chapter 11 bankruptcy protection Wednesday, the day after some $82 million in debt came due. Click here to read the article in DBR Small Cap.

(The Daily Bankruptcy Review and DBR Small Cap are daily newsletters with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial to DBR, click here. For DBR SC, click here.)

The office of James W. Gidden, the trustee unwinding MF Global Holdings Ltd.’s brokerage, offered an update Wednesday on the accounts it’s handling. Read the DBR article via The Wall Street Journal.

According to WSJ, federal prosecutors in Chicago and New York have issued subpoenas in the investigation into MF Global’s collapse.

The Los Angeles Dodgers sued Fox Sports in bankruptcy court Wednesday for allegedly interfering with the team’s bid to sell its valuable broadcast rights. Read the DBR article via WSJ.

According to the New York Times, the Pension Benefit Guarantee Corp., which takes over failing pensions in corporate bankruptcies, has erred in calculating benefits.

Cerberus Capital Management LP and Chatham Lodging Trust are looking to sell 11 hotels they bought form Innkeepers USA Trust, Bloomberg reports.

Delphi Automotive PLC priced its initial public offering at $22 a share, WSJ reports, and stock was expected to start trading Thursday.

Bloomberg notes that hedge-fund manager John Paulson may have made a $439 million profit from the sale of his Delphi shares.

The Birmingham News reports that Regions Financial Corp., the biggest private employer in the Birmingham, Ala., metro area, is joining banks in bankruptcy court to try to keep John S, Young as the receiver in Jefferson County.

A judge Thursday will decide whether California-based Crystal Cathedral Ministries will be sold to the Roman Catholic Diocese of Orange or to Chapman University, the Associated Press reports.

The Orange County Register noted that Chapman raised its offer for the church to $59 million, topping a $57.5 million offer Monday by the diocese.

Follow Bankruptcy Beat on Twitter.