The Daily Docket: Ocala Funding Enters Bankruptcy

Ocala Funding LLC, the mortgage-securities unit of defunct lender Taylor, Bean & Whitaker Mortgage Corp ., filed for Chapter 11 protection Tuesday in a bid to recover more than $800 million it said Taylor Bean’s now-imprisoned leaders looted from its coffers. Read the Daily Bankruptcy Review article here.

The bankruptcy of brokerage PFGBest will likely be much different from those of the parent companies of other brokerages, including Lehman Brothers Holdings Inc. and MF Global Holdings Ltd., and not just because those firms are so much larger. Read the DBR article via The Wall Street Journal.

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Days after PFGBest filed for bankruptcy, the Commodity Futures Trading Commission is set to approve a rule that will make futures executives accountable for customer money, Reuters reports.

The judge overseeing Tribune Co.’s Chapter 11 case disposed of two minor sticking points and indicated Wednesday he is prepared to sign off on the company’s bankruptcy-exit plan. Read the DBR article via Nasdaq.

Former Dewey & LeBoeuf LLP partners are facing clawback lawsuits, WSJ reports.

WSJ reports that Philip Falcone wants a stake in a public company he’ll run and will swap some overseas investment held by his Harbinger Capital Partners to do so.

According to WSJ, Eastman Kodak Co.’s chief executive is looking for a bonus if he’s able to lead the company back out of bankruptcy.

The Salander O’Reilly Galleries may be permitted to sell “Madonna and Child,” a painting said to be done by Sandro Botticelli, to help repay creditors, Bloomberg reports.

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