The Daily Docket: Judge Won’t Approve Lehman Settlement

A settlement of a lawsuit between investors who lost money in the collapse of Lehman Brothers Holdings Inc. and the bank’s top brass, among them former Chief Executive Richard Fuld and ex-finance chief Erin Callan, has hit a Kenny Rogers road block in federal court. Read the Daily Bankruptcy Review article here.

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People familiar with the matter say American Airlines parent AMR Corp.’s bankruptcy plan includes a shift of more seating capacity to overseas flights from routes in the U.S., Bloomberg reports.

The Wall Street Journal reports that LightSquared Inc. lenders agreed to give the company another week extension for a waiver on debt-term violations.

Not all MF Global Holdings Ltd. customers were created equal. Read more at WSJ.

Reuters looks into Ally Financial’s restructuring. So does the New York Times.

The Philadelphia Orchestra is holding a special fundraiser to try to get itself out of bankruptcy, Bloomberg reports.

According to the Washington Post, competitors are in limbo following the bankruptcy liquidation of Virginia’s state fair.

A new book looks at hedge-fund expert Bill Ackman’s attempts to help Borders Group Inc. stay in business, the New York Post reports.

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