The Daily Docket: Mercator Unit Enters Chapter 11

Mercator Minerals Ltd.’s Mineral Park Inc. unit filed for Chapter 11 bankruptcy protection Monday, seeking a buyer for assets that include a producing copper-molybdenum mine near Kingman, Ariz. Ready the Daily Bankruptcy Review 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.”)

Some of the country’s largest financial institutions say Lehman Brothers Holdings Inc. needs to set aside $12.14 billion to settle claims over certain soured mortgage loans, DBR reports via The Wall Street Journal.

Hundreds of people whose employers invested their retirement funds with Bernard Madoff cannot recover money from the liquidation of Mr. Madoff’s firm because they weren’t direct customers of the imprisoned Ponzi scheme operator, a bankruptcy judge has ruled. Read the DBR article via Law Blog.

Detroit won approve to exchange at least $1.67 billion in water and sewer debt for new bonds, Bloomberg reports.

The bitcoin ATM trend has hit Manhattan, DealBook reports.

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