The Daily Docket: Puerto Rico Hires Restructuring Advisers for Utili...

Puerto Rico hired restructuring advisers to work on utility and highway operations, The Wall Street Journal reports.

Quiznos is pushing off until May a key court hearing on its bankruptcy exit plan after unsecured creditors asked for more time to probe its restructuring strategy. Read the Daily Bankruptcy Review article via WSJ.

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The bankruptcy city of Detroit reached a settlement with some bondholders to give them almost three-fourths of what’s owed to them, WSJ reports.

Also according to WSJ, one of Detroit’s creditors is trying to sell the city’s art collection, and investors are willing to finance up to $2 billion for part of it.

UBS AG was ordered to pay an ex-broker at least $5.3 million after the broken said the bank misled him about risks of Lehman Borthers Holdings Inc. issued securities, Bloomberg reports.

Loehmann’s is looking to come back as an e-commerce site, the New York Business Journal reports.

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