The Daily Docket: NII Holdings Seeks Approval of Bonuses

Latin American Nextel carrier NII Holdings Inc. has asked for a bankruptcy judge’s permission to pay executives and other top-level employees as much as $9 million in bonuses. Read 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.”)

The Detroit News reports that Detroit’s emergency manager, Kevyn Orr, said the city needs to move forward into a post-crisis era.

The House of Representatives passed a bill that would let banks voluntarily start bankruptcy proceedings, MarketWatch reports.

MoneyBeat reports on how falling oil prices could lead to major junk-bond defaults.

Cypress Semiconductor Corp. will buy Spansion Inc. for $1.59 billion in stock, Reuters reports.

The YMCA of Metropolitan Milwaukee filed its bankruptcy plan, the Milwaukee Journal Sentinel reports.

(And don’t forget to check out our latest batch of Examiners posts, coming to you all week, which will look at what one thing our restructuring pros would change about the bankruptcy code.)

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