The Daily Docket: Lehman Strikes Claims Deal

Lehman Brothers Holdings Inc., on the heels of winning “overwhelming” support from creditors for its Chapter 11 plan, struck a deal concerning nearly $4 billion in priority claims from mortgage giants Fannie Mae and Freddie Mac, which were seized by the U.S. government shortly before Lehman’s collapse. Read the Daily Bankruptcy Review article here.

Real Mex Restaurants Inc. wants to dole out up to about $3 million in bonuses to employees trying to cook up a sale of the company’s Mexican restaurant chain. Click here to read the article in DBR Small Cap.

(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.)

The Wall Street Journal reports that American Airlines pilots are looking to hire restructuring advisers Lazard Ltd. to work on a new labor agreement and to help them through the bankruptcy process of parent AMR Corp.

American Airlines might be able to bulk up through a merger with US Airways, the Associated Press reports.

According to WSJ, former MF Global Holdings Ltd. Chief Executive Kevin Davis, who resigned in 2008, was hired by the New York City Comptroller in September.

According to Reuters, senators want to investigate whether regulators kept a close-enough watch on MF Global as it took on huge bets.

Former American International Group Inc. Chief Executive Maurice R. Greenberg wants to challenge the insurer’s government takeover, Bloomberg reports.

The Vatican gave the Roman Catholic Diocese of Orange its blessing to buy California-based Crystal Cathedral Ministries, the Orange County Register reports.

According to the Philadelphia Inquirer, the Philadelphia Orchestra Association’s bankruptcy judge has approved a request to turn over pension plans to the Pension Benefit Guaranty Corp., or PBGC.

The Inquirer also profiles Craig A. Rogerson, who intended to retire after presiding over Hercules Inc.’s sale in 2008 but who ended up working to turn around Chemtura Corp.

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