The Daily Docket: Trump Entertainment Can Terminate Union Contract

A bankruptcy judge Friday said he would grant Trump Entertainment Resort Inc.’s request to terminate its contract with the union representing more than 1,100 casino workers at the Trump Taj Mahal. The Wall Street Journal has the Daily Bankruptcy Review 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.”)

General Motors Co.’s general counsel, the executive most tarnished by how the auto company handed ignition-switch issues, will retire next year, WSJ reports.

As regulators seek to rein in the multitrillion-dollar repo market, lawyers for the postbankruptcy estate of Lehman Brothers Holdings Inc. and J.P. Morgan & Co. are still battling in a crisis-era lawsuit over what Lehman claims was the bank’s “voracious” cash grab in the investment bank’s final days, DBR reports in WSJ.

Farmers in Oklahoma and Texas who shipped more than $20 million worth of guar beans last year to the nation’s only guar processing plant, which is now in bankruptcy, have struck a deal with the plant’s majority owner, a New York hedge fund. Read the DBR article in WSJ.

Pantech Co., a South Korean mobile-phone maker, has sought the protection of a U.S. court as part of its larger restructuring efforts abroad, DBR reports in WSJ.

Ally Financial Inc. is almost out of the government’s clutches almost six years after the company collapsed, WSJ reports.

The New York Times has an opinion piece on the trial of American International Group.

According to Bloomberg, the city of San Bernardino, Calif., is looking for a $125,000 makeover.

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