The Daily Docket: Tribune Exit Plan Rejected

A judge on Monday rejected Tribune Co.’s plan to exit bankruptcy, sending the media giant back to the bargaining table to find a viable restructuring strategy after nearly three years in Chapter 11. Read the Daily Bankruptcy Review article here.

Creditors of Mexican restaurant chain owner Real Mex Restaurants Inc. are protesting the company’s plan to sell itself on the bankruptcy-auction block, arguing the chain is making enough money from its nearly 200 Acapulco, Chevys Fresh Mex and El Torito Mexican restaurants to reorganize its finances without a sale that would leave creditors with nothing. Click here to read the article in DBR Small Cap.

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The Wall Street Journal details brokerage firm MF Global Holdings Ltd.’s fall into bankruptcy protection.

India Real Time notes that the company’s India employees might “feel like they’re watching a bad movie all over again,” years after their former parent, Refco Inc., filed for bankruptcy in the U.S. in 2005.

According to WSJ, private equity investor J. Christopher Flowers could lose nearly $48 million on MF Global’s bankruptcy.

Via DealBook, law professor Stephen Lubben compares MF Global’s bankruptcy filing to Lehman “in miniature.”

According to Reuters, a unit of Lehman Brothers Holdings Inc. that isn’t in bankruptcy will sell its interest in a real-estate portfolio to a unit of Goldman Sachs Group Inc., ending litigation.

Frank McCourt appears close to selling the struggling Los Angeles Dodgers baseball team, the Los Angeles Times reports.

Small and midsize restaurant chains like Friendly’s and Quiznos are gasping for money as young people change their restaurant habits, WSJ reports.

The City Council and mayor of Harrisburg, Pa., agreed to return to Act 47, Reuters reports.

According to the New York Times, an auction of Solyndra LLC’s assets this week is likely to draw bargain hunters.

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