The Daily Docket: MF Global Strikes Deal With J.P. Morgan Over Claim...

MF Global Holdings Ltd. has struck a deal with J.P. Morgan Chase & Co. that calls for the bank to pay MF Global a portion of what the bank recovers in the case, a settlement that MF Global’s administrator says avoids “years of costly and complex litigation.” Read the Daily Bankruptcy Review article here.

Lehman Brothers Holdings Inc. said in filings it expects to collect another $3.2 billion from the workout of its derivatives book through 2015, of which $2.3 billion should come in the remainder of 2013. Click here to read the article in DBR.

In a ruling that’s expected to be used in lawsuits against companies that may share some of the blame for last year’s deadly meningitis outbreak, a bankruptcy judge said Wednesday that New England Compounding Pharmacy Inc. was insolvent when it filed for Chapter 11 bankruptcy. The DBR Small Cap article is available here.

(Daily Bankruptcy Review and DBR Small Cap are daily newsletters 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.”)

According to The Wall Street Journal, American Airlines parents AMR Corp. and US Airways Group Inc. are starting talks with antitrust regulators about their merger.

The Great Atlantic & Pacific Tea Co. supermarket chain wants to sell itself, WSJ reports.

Plans for the Detroit Red Wings’ new arena shouldn’t be affected by the city’s bankruptcy, MoneyBeat reports.

Michigan Gov. Rick Snyder talks to Bloomberg about Detroit’s bankruptcy.

Forbes analyzes whether Detroit could be better off because of its bankruptcy.

The majority shareholder of Scotland’s Hearts soccer team filed for bankruptcy protection in Lithuania, news station STV reports.

Weil Gotshal’s Bankruptcy Blog discusses Sharia-compliant debtor-in-possession, or DIP, financing in the Arcapita bankruptcy case.

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