The Daily Docket: TMT Enters Bankruptcy

Global shipping company TMT Group sought bankruptcy protection after failing to restructure its $1.46 billion debt load out of court. Read the Daily Bankruptcy Review article via The Wall Street Journal.

Shipping company STX Pan Ocean Co., which filed for bankruptcy protection in South Korea last week, has now filed for creditor protection in the U.S. to prevent a “race to the courthouse” by its U.S. creditors. Read the DBR article here.

AFA Foods Inc. is scrambling to get before a judge fast with a bankruptcy settlement revised to appease the unlikely allies that defeated an earlier version: discarded workers and a big buyout fund, American Capital Ltd. The DBR Small Cap article is available here.

(Daily Bankruptcy Review and DBR Small Cap are daily newsletters 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.”)

Twinkies are coming back to store shelves next month, the Associated Press reports.

Bloomberg reports on who might get paid first by Detroit, which may end up in bankruptcy.

Former Enron Corp. Chief Executive Jeffrey Skilling’s prison sentence got reduced to 14 years, WSJ reports.

Suzuki might be facing an airbag recall, but the company’s bankruptcy is complicating the situation, the New York Times reports.

The city of Harrisburg, Pa., is selling off its Wild West memorabilia next month, WSJ reports.

Banks have given their own crisis plan to the U.S. Federal Reserve, WSJ reports.

DealBook discusses Dish Network Corp. ’s deal appetite.

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