The Daily Docket: Trustee Blasts ResCap Bonus Proposal

U.S. Trustee Tracy Hope Davis, a federal bankruptcy monitor, is railing against Residential Capital LLC’s bid to pay bonuses to top employees, saying the company must do more to prove some of the bonuses comply with the Bankruptcy Code. Read the Daily Bankruptcy Review article here.

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According to The Wall Street Journal, a new report is blaming former MF Global Holdings Ltd. Chief Executive Jon Corzine for contributing to the firm’s collapse.

British music seller HMX is selling more than 140 stores to private equity firm Hilco Consumer Capital, DealBook reports.

Hedge fund Sound Point Capital Management LP is ready for a showdown with Philip Falcone’s LightSquared Inc., WSJ reports.

Enron Corp.’s ex-CEO might get out of prison earlier than expected, WSJ reports.

According to the Financial Times (sub. req.), U.K. insolvencies are at their lowest level in eight years.

Stockton, Calif.’s bankruptcy ruling isn’t a clear win for it and CalPERS, according to an opinion piece in the Sacramento Bee.

IStar Financial Inc. is looking for a rebound, Bloomberg reports.

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