The Daily Docket: Judge Approves Borders IP Sale

A judge on Monday approved the $13.9 million sale of Borders.com and other Borders Group Inc. intellectual property to its once-fierce rival, Barnes & Noble Inc., after the two sides and a consumer advocate alleviated the judge’s concerns over the privacy rights of Borders’s customers. Read the Daily Bankruptcy Review article here.

Unsecured creditors are throwing their weight against Alexander Gallo Holdings LLC’s auction plans and bankruptcy financing deal, saying both proposals are designed to benefit the court-reporting firm’s lenders at the expense of creditors. Click here for the DBR Small Cap article.

(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.)

A federal watchdog faulted Freddie Mac on mortgage reviews, saying it may have given up chances to get back billions of dollars in claims, The Wall Street Journal reports.

Also according to WSJ, the trustee in charge of Taylor Bean & Whitaker Mortgage Corp.’s bankruptcy cases sued law firm Deloitte & Touche LLP Monday. The suit said Taylor Bean’s “grossly negligent audits” contributed to its collapse.

Creditors of Tribune Co. seeking to claw back hundreds of millions of dollars from current and former managers want to let a small group off the hook, the Chicago Tribune reports.

According to the News Journal, the Roman Catholics Diocese of Wilmington, Del., has emerged from bankruptcy after having transferred more than $77 million to a fund for sexual-abuse survivors.

J.P. Morgan Chase & Co. wants to move an $8.6 billion lawsuit against Lehman Brothers Holdings Inc. to federal court from bankruptcy court, Reuters reports. J.P. Morgan cited the Anna Nicole Smith ruling in the Supreme Court.