J.P. Morgan Chase Wins Legal Battle to Avoid WaMu Liabilities

J.P. Morgan Chase & Co. won a legal battle in its effort to avoid billions of dollars in potential liabilities from its purchase of Washington Mutual Inc.’s banking operations during the financial crisis. 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 http://on.wsj.com/DJBankruptcyNews, scroll to the bottom and click “try for free.”)

Rare-earths miner Molycorp Inc. plans to file for bankruptcy as soon as this month, WSJ reports.

The continuation of creditors’ lawsuits against Caesars Entertainment Corp. could cause one of the “great messes of our time,” a financial adviser to the casino giant’s bankrupt subsidiary testified in court Wednesday. Read the DBR article in WSJ.

Frederick’s of Hollywood Inc. on Wednesday won court approval to sell its fabled lingerie brand to licensing company Authentic Brands Group Inc. for $22.5 million, DBR reports in WSJ.

NII Holdings Inc . kicked off what is expected to be a four-day-long hearing to approve a restructuring plan that, should it win a bankruptcy judge’s signature, would cut $4.35 billion from the company’s balance sheet. Read the DBR article here (sub. req.)

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