Investor FutureSelect Seeks Liability for Ernst & Young in Madof...

Investment firm FutureSelect wants to hold law firm Ernst & Young liable for $200 million in losses tied to investments with Bernard Madoff, Daily Bankruptcy Review reports via The Wall Street Journal.

(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 http://on.wsj.com/DJBankruptcyNews, scroll to the bottom and click “try for free.”)

According to WSJ, the Treasury Department and Puerto Rice are in talks to restructuring the island’s debt through the issuance of a “super bond.”

A lawyer for the kin of most of the 47 people who died in a Quebec train derailment in 2013 has vowed to sue the railroad involved, the Associated Press reports.

WSJ reports on Wilbur Ross turning to TXU Corp’s former chief to help save oil and gas producer Exco Resources Inc.

Walter Energy is laying off about 130 people near its Birmingham, Ala., mine, the AP reports.

The iconic Sinbad’s restaurant in San Francisco flied for bankruptcy, San Francisco’s ABC7 reports.

New rules in the U.K. will force several of its banks to restructure, WSJ reports.

(And don’t forget to check out or blog post on the star of reality TV show “Dance Moms” getting indicted for bankruptcy fraud.)

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