The Daily Docket: Lehman Drops Barclays ‘Secret Discount’ Appeal

Lehman Brothers Holdings Inc. said Wednesday it will drop its appeal in the so-called secret discount lawsuit against Barclays PLC over the price Barclays paid when it bought Lehman’s U.S. brokerage business in September 2008. Read the Daily Bankruptcy Review story here.

A bankruptcy judge on Tuesday cleared Caribe Media Inc., which publishes telephone and Internet directories in Puerto Rico and the Dominican Republic, to take one step closer to exiting Chapter 11 protection. Read the Daily Bankruptcy Review Small Cap story here.

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A Swedish appeals court Wednesday granted troubled car maker Saab Automobile AB protection from its creditors, overturning a ruling earlier this month by a lower court and allowing the company more time to secure funding. Read The Wall Street Journal story here.

WSJ reports that Chrysler Group LLC, the auto maker rescued by the U.S. government and acquired by an Italian car company, received a second extension of its labor contract with the United Auto Workers union hours before it was due to expire.

The Journal reports Moody’s Investors Service cut the debt ratings of Bank of America Corp., Citigroup Inc. and Wells Fargo & Co., warning that bond investors shouldn’t expect a full-fledged government bailout the next time a big bank runs into trouble.

Attorneys from at least seven firms have landed roles advising various parties connected to the increasingly controversial bankruptcy filing this month by government-subsidized solar panel manufacturer Solyndra—a company whose sudden collapse has begun to cast shadows over the entire U.S. solar energy industry, reports AmLaw.

The city of Hoboken, N.J., is planning to withdraw its request to sell its beleaguered hospital after negotiations to settle a pending bankruptcy collapsed today, according to sources familiar with the negotiations, the Star-Ledger reports.

U.S. bankruptcy claims trading dropped sharply in August from the previous month due to a decline of activity involving the Lehman Brothers Holding Inc bankruptcy, according to Reuters.