The Daily Docket: LightSquared Has New Reorganization Plan

Philip Falcone‘s LightSquared wireless venture has a new reorganization plan tentatively in place that includes Cerberus Capital Management LP, according to a person familiar with the negotiations. The Wall Street Journal has the Daily Bankruptcy Review article here.

Four years after Merisant Co. emerged from its Chapter 11 restructuring, the maker of sweeteners like Equal and Pure Via has paid off all of its debt. Read the DBR article here.

(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.”)

The billionaire Texas oil family behind Hunt Consolidated Inc. and the Teacher Retirement System of Texas are the as-yet-unnamed new-money investors in a $1.9 billion bankruptcy financing package for Energy Future Holdings Corp., according to a person familiar with the situation. Read the DBR article via WSJ.

According to WSJ, the Supreme Court rejected an appeal by Bernard Madoff trustee Irving Picard, who wanted to sue several banks on behalf of Mr. Madoff’s victims.

Caesars Entertainment Corp. said it plans to close Atlantic City, N.J.’s Showboat casino-hotel, WSJ reports.

General Motors Co. victim-compensation lawyer Kenneth Feinberg is unveiling a broad settlement plan, WSJ reports.

Some U.S. investment firms are challenging a new Puerto Rico law that lets some public entities restructure, WSJ reports.

New York state assemblywoman Gabriela Rosa pleaded guilty to immigration fraud and bankruptcy fraud, Reuters reports.

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