RadioShack Bankruptcy Plan Approved

RadioShack Corp., the fallen electronics retailer that had $1 billion in debt when it filed for bankruptcy in February, won approval of a chapter 11 plan that will distribute liquidation proceeds to creditors. Read the Daily Bankruptcy Review article 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.”)

DBR reports via WSJ that Dex Media Inc. skipped a $260 million interest payment on bond debt due Wednesday.

Real Time Economics reports that Detroit jobs are cranking up alongside the automotive industry—unemployment is at a 15-year low.

Bloomberg profiles Debt Collective, an activist group founded last year that fights for student-loan relief.

The New York Military Academy, a prep school that 2016 presidential candidate Donald Trump once attended, was sold for $15.83 million at auction Wednesday to the nonprofit Research Center on Natural Conservation, Reuters reports.

According to the Associated Press, a new law in Russia came into effect that will let individuals seek bankruptcy protection, and the country is getting ready for a flood of filings.

(And don’t forget to check out our blog posts on the $21 million Milwaukee Archdiocese settlement heading for a vote and 50 Cent’s efforts to keep his underwear endorsement details quiet.)

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