The Daily Docket: Lehman Settles With Freddie Mac

Creditors of Lehman Brothers Holdings Inc. will receive hundreds of millions of dollars from the estate of the bankrupt firm following a settlement with Freddie Mac. Read the Daily Bankruptcy Review article via The Wall Street Journal.

(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.”)

According to WSJ, the city of Detroit reaches a new settlement with two big banks in a fight over casino-tax revenue.

Sbarro LLC, which emerged from bankruptcy in late 2011, is set to close 155 of its 400 North American restaurants, WSJ reports.

Shiping tycoon Peter Georgiopoulos’s Genco Shipping & Trading missed a $3 million payment to lenders this week, the New York Post reports.

New York’s Long Beach Medical Center filed for bankruptcy to sell its assets, citing Hurricane Sandy as part of its troubles, Bloomberg reports.

Stephen Lubben writes via Credit Slips about Chapter 11 in the U.K.

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