The Daily Docket: MF Global Account Transfers Approved

A judge on Thursday approved the transfer of more than 22,000 MF Global Holdings Ltd. brokerage accounts to new dealers, granting an emergency request from the trustee unwinding the company’s brokerage. Read the Daily Bankruptcy Review article here.

Atlanta-based radio giant Cumulus Media Inc. put four financially struggling Missouri and Texas radio stations into Chapter 11 bankruptcy protection Thursday, a move to restructure the debt-heavy finances of the subsidiary companies that control them. Click here to read the article in DBR Small Cap.

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MF Global announced the departure of retail head J. Randy MacDonald, The Wall Street Journal reports. Also, regulators have found new details indicating that MF Global shifted money from customer accounts to fund its own accounts right before it filed for bankruptcy.

According to WSJ, Energy Secretary Steven Chu said he wouldn’t have approved a loan for Solyndra LLC if he’d known the company was going to file for bankruptcy protection.

The receiver for Jefferson County, Ala., said the municipal-bond market would be harmed if he gets stripped of his authority, Bloomberg reports.

Also according to Bloomberg, Harrisburg, Pa., City Council attorney Mark Schwartz says bankruptcy will give relief to the struggling city.

Medicis Pharmaceutical Corp. won Graceway Pharmaceuticals LLC in a bankruptcy auction for $455 million, Dow Jones Newswires reports.

The Roman Catholic Diocese of Orange, Calif., was cleared to buy Crystal Cathedral Ministries for $57.5 million, the Los Angeles Times reports.

A commercial real estate securitization trust said it posted big losses on five department stores tied to Boscov’s leases, the New York Times reports.

According to the Associated Press, a group of judges found that a bankruptcy judge’s membership in a Tennessee country club without any blacks or women as full members violates an ethical code.

The Montana Public Service Commission plans to intervene in the Southern Montana Electric Generation & Transmission Cooperative’s bankruptcy case, the Great Falls Tribune reports.

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