The Daily Docket: Judge Says Creditors Can Vote on LightSquared Plan

A judge on Tuesday said creditors can vote on LightSquared’s reorganization plan, but she urged the company to work on a new deal that would satisfy Dish Network Corp. Chairman Charlie Ergen, the company’s largest creditor and biggest opponent of the proposal. The Wall Street Journal has 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.”)

Forcing Stockton, Calif., to remain in bankruptcy while an unhappy bondholder group protests the city’s plan to cut millions of dollars would unfairly delay payments to the city’s retirees, DBR reports in WSJ.

The lawyers and advisers who guided the city of Detroit through the largest municipal bankruptcy in U.S. history are now defending their work’s multimillion-dollar price tag. Read the DBR article in WSJ.

According to WSJ, Life Partners Holdings Inc. said it filed for bankruptcy to try to avoid liquidation.

Two bidders hoping to revive the bankrupt New York City Opera squared off in court Tuesday at an auction for the opera company’s name and assets, DBR reports.

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