The Daily Docket: SEC Files Charges Against TelexFree

The Securities and Exchange Commission has filed charges against a Massachusetts telephone marketing company for allegedly running a pyramid scheme that targeted primarily Dominican and Brazilian immigrants. Read the DBR 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.”)

Mt. Gox suitors are launching a last-ditch effort to revive the bitcoin exchange after it said it would move to liquidate, WSJ reports.

With no other offers on the table, plus-size women’s clothing retailer Ashley Stewart said Wednesday it plans to cancel a scheduled bankruptcy auction and sell its assets to lead bidder Clearlake Capital Group. Read the DBR article via The Wall Street Journal.

Forbes reports that private equity magnates Marc Lasry and Wesley Edens said they’d pay $550 million for the Milwaukee Bucks. Check out WSJ’s video on the subject.

A judge dismissed objections from unions, banks and bond insurers in Detroit’s bankruptcy case Thursday, WSJ reports.

General Motors Co.’s move to halt lawsuits related to ignition-switch recalls might help slash customer payouts, Bloomberg reports.

The Associated Press reports that Detroit’s bankruptcy judge is looking for experts to advise him in the Chapter 9 case.

The Milwaukee archdiocese’s bankruptcy case is progressing after a judge said she’d move forward with a disclosure statement, or bankruptcy plan outline, the Milwaukee Journal Sentinel reports.

Read the WSJ article on the death of influential bankruptcy lawyer Leonard M. Rosen.

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