The Daily Docket: SkyMall Files for Bankruptcy

The company behind the in-flight catalog SkyMall filed for Chapter 11 bankruptcy protection Thursday, a victim of evolving rules and technology that now lets airline passengers keep their smartphones and tablets powered up during flight. Read the Daily Bankruptcy Review article in The Wall Street Journal.

(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.”)

A judge on Thursday approved a settlement between the trustee unwinding Lehman Brothers Inc. and Pacific Investment Management Co. that settles $187 million of Pimco’s claims against the brokerage. WSJ has the DBR article here.

Canadian oil exploration company Southern Pacific Resource Corp. has sought protection from creditors with an insolvency filing under Canada’s bankruptcy law, DBR reports in WSJ.

A federal judge on Wednesday denied a request by the restaurants, night clubs and other tenants of Atlantic City, N.J.’s Revel Casino Hotel to temporarily halt the sale of the boardwalk property to a Florida developer. Read the DBR article in WSJ.

New Jersey Gov. Chris Christie gave a 60-day deadline for Atlantic City’s new emergency manager to propose financial and operational changes, WSJ reports.

The Cache clothing chain might file for bankruptcy as soon as next week, Bloomberg reports.

The board of the shuttered New York City Opera selected an investor group’s $1.25 million offer as the winner in a battle over the right to revive the opera, but an objection from the losing bidder means the drama playing out in bankruptcy court isn’t over yet, DBR reports in WSJ.

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