The Daily Docket: Trump Entertainment Loses Bid to End Union Pension...

Trump Entertainment Resorts lost a bid Friday to pull out immediately from the pension fund for 1,135 unionized employees at the Trump Taj Mahal, a decision that could mean only a brief reprieve for casino workers on the hard-hit Atlantic City Boardwalk. 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.”)

The trustee tracking down funds to repay creditors and investors of convicted Ponzi scheme operator Tom Petters has struck a deal to settle a $3.2 billion lawsuit for more than $322 million. Read the DBR article in WSJ.

The Trump name is coming off Atlantic City, N.J.’s shuttered Trump Plaza casino, the Associated Press reports.

RadioShack Corp. struck a financing deal with hedge funds to avoid bankruptcy, WSJ reports.

Lawmakers are trying to limit towns’ stays in the state’s aid program, Bloomberg reports.

Also according to Bloomberg, Roger Penske told Detroit’s bankruptcy judge the Chapter 9 will likely have a cleansing effect on the city.

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