The Daily Docket: Mortgage Insurer PMI Files For Bankruptcy

Mortgage insurer PMI Group Inc. filed for Chapter 11 bankruptcy protection Wednesday after an Arizona judge rejected its bid to overturn the October seizure of its mortgage-insurance unit by state regulators. Read the Daily Bankruptcy Review story here.

A bankruptcy judge threw out Harrisburg’s controversial Chapter 9 bankruptcy case, putting Pennsylvania’s capital city on the path to rehabilitate its financial troubles under the state’s control. Read the Daily Bankruptcy Review Small Cap story here.

(The 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 to DBR, click here. For DBR SC click here.)

In a time of uncertainty, investors are making bets on Israeli bonds, the fate of Iceland’s banking system and the likelihood of payouts from the bankruptcy of Lehman Brothers Holdings, The Wall Street Journal reports.

U.S. lawmakers plan to scrutinize the relationship between former MF Global Holdings Ltd. Chief Executive Jon S. Corzine and the credit-rating firms that downgraded the brokerage as it hurtled toward bankruptcy, according to The Journal.

Hedge-fund titan Steven A. Cohen is planning a bid for the Los Angeles Dodgers, according to three people involved with the bankruptcy sale of the storied baseball team, WSJ reports.

Louis J. Freeh, the former director of the Federal Bureau of Investigation, was asked on Friday to become the trustee for MF Global Holdings as it seeks to unwind itself in bankruptcy court, DealBook reports.

Credit Slips has put together the U.S. Bankruptcy Code and Federal Rules of Bankruptcy Procedure that can be read using Amazon Kindle or an ePub reader.

The Tribune Co. bankruptcy case is likely to break new ground when it comes to defining the protections that shareholders can expect when they become involved in a leveraged buyout, the Los Angeles Times reports.

A federal judge has said credit ratings are not always protected opinion under the First Amendment, Reuters reports, a defeat for credit rating agencies in a lawsuit brought by investors who lost money on mortgage-backed securities issued by Thornburg Mortgage Inc.

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