KaloBios Won’t Get Bankruptcy Trustee to Oversee It

A judge rejected a request to have a trustee oversee the bankruptcy case of KaloBios Pharmaceuticals Inc., which fired Chief Executive Martin Shkreli after he was arrested on securities-fraud charges. 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.”)

According to Bloomberg, sporting-goods retailer Sports Authority Inc. is getting ready to file for bankruptcy as a debt payment comes due in 10 days.

Freedom Industries Inc. got a $900,000 fine for pollution charges, the Associated Press reports.

The oil is rout is threatening to hurt the broad economy, WSJ reports.

American Apparel Inc. is testing UPS for international delivery, CIO Journal reports.

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