The Daily Docket: Mets Owners Settle with Madoff Trustee

The owners of the New York Mets baseball team and the trustee trying to recover money for victims of Bernard Madoff’s epic Ponzi scheme Jury settled as jury selection began. Read the story here in WSJ Law Blog.

Bahrain-based investment firm Arcapita Bank has filed for bankruptcy protection after failing to secure a refinancing on its $1.1 billion credit facility, in a move that could allow investors to walk away from the firm. Read our colleague Ayesha Javed’s Private Equity News story here in Daily Bankruptcy Review.

Struggling electronics manufacturer Trident Microsystems Inc. wants to sell its television-parts division at a bankruptcy auction after nailing down a $21 million lead bid from an unidentified publicly traded company. Read the Daily Bankruptcy Review Small Cap story here.

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Ally Financial Inc.’s mortgage-lending unit, Residential Capital LLC, is expected to seek bankruptcy protection in the next several weeks on the way to a possible sale, The Wall Street Journal reports.

A U.S. House subcommittee plans to decide Wednesday whether to subpoena MF Global Holdings Ltd. employee Edith O’Brien to testify at a coming hearing about the securities firm’s collapse, WSJ says.

Harrisburg, Pa., officials tell the Patriot-News they believe bankruptcy is inevitable.

California’s so-called untouchable public pensions a may face a legal challenge if the city of Stockton  files for bankruptcy without a deal with state pension system Calpers, the New York Times reports.

Weil’s bankruptcy blog is still waiting for an upset in their March Madness bankruptcy competition.

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