Magnetation Files for Bankruptcy After Reaching Deal With Bondholder...

Magnetation LLC, a Minnesota mining company, filed for chapter 11 bankruptcy protection Tuesday after reaching a restructuring deal with senior bondholders owed $425 million. 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.”)

Corporate pension insurer Rothesay Life on Wednesday completed a £675 million ($1.02 billion) buyout of the pension plan for Lehman Brothers’ European arm, DBR reports in WSJ.

In a growing number of personal bankruptcy cases, trustees responsible for collecting money for creditors have moved to claw back tuition payments that insolvent parents made for their children. Read the DBR article in WSJ.

Puerto Rico is trying to revamp laws that let its public entities restructure in bankruptcy, Bloomberg reports.

(And don’t forget to check out our blog post on SBTickets.com, a Super Bowl ticket seller that filed for bankruptcy to deal with customers whose sales fell through hours before kick-off.)

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