The Daily Docket: Lehman Wins Approval of Canary Wharf Deal

A bankruptcy judge signed off on Lehman Brothers Holdings Inc.’s deal to trim $3.7 billion from a claim tied to properties in London’s Canary Wharf financial district. Read the Daily Bankruptcy Review story here in The Wall Street Journal.

Bank of New York Mellon, the indenture trustee for noteholders owed nearly $158 million by Sbarro Inc., is taking aim at the sale process folded into the pizza chain’s reorganization plan. Read the Daily Bankruptcy Review Small Cap story here.

The 17 lawsuits filed Friday by federal regulators against some of the world’s biggest financial institutions hinge on a simple premise: The mortgage loans that banks packaged into securities often didn’t meet the underwriting guidelines the banks outlined in their securities filings, says WSJ.

Carl Icahn put the hurt on Dynegy’s bondholders again Friday, reports Deal Journal.

As expected Solyndra LLC, a solar panel maker which had earlier received $535 million in federal loan guarantees, filed for Chapter 11 bankruptcy protection early on Tuesday, making it the third U.S. solar firm to succumb to pressure from lower-cost Chinese rivals, Reuters reports.

The Financial Times reports at least one leading oil tanker operator is likely to follow collapsed smaller operators into insolvency, senior figures in the industry believe, as the sector is swamped by oversupply.

Over at Dealbook law professor Stephen Lubben looks at the dispute over the ISDA definition of “Bankruptcy Credit Event” in CDS contracts.

And Adam Levitin weighs in on a bill which would require corporations to file for bankruptcy in the district in which they are headquartered or in the district in which a controlling affiliate has filed. Read it here at Credit Slips.