The Daily Docket: Icahn Might Consider Backing Trump Taj Mahal

Billionaire Carl Icahn says he’d consider pumping $100 million into Trump Entertainment’s Taj Mahal if the casino’s union workers agree to another round of cuts. Read the Daily Bankruptcy Review article here.

(Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit our homepage, scroll to the bottom and click “try for free.”)

As DBR reports via The Wall Street Journal, A federal judge dismissed some of Thornburg Mortgage Inc.’s lawsuit against J.P. Morgan Chase  & Co. and other big Wall Street banks over margin calls that the subprime lender says pushed it into bankruptcy five years ago.

Sweden’s Ericsson is preparing to take over Massachusetts-based Ambient Corp., which struggled to sell its “smart grid” technology to power companies, after a bankruptcy judge approved Ericsson’s $7.5 million purchase offer last week, DBR reports via WSJ.

The New York Times revisits why Lehman was the only bank that wasn’t too big to fail.

WSJ takes a brief look at the American International Group trial.

The New York Post reports on possible bankruptcies of two more Atlantic City, N.J., casinos.

General Motors Co. Chief Executive Mary Barra plans to unveil a new strategy for better profits, WSJ reports.

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