RadioShack IP Auction Won by Hedge Fund Standard General

Standard General LP, the hedge fund that saved more than 1,700 RadioShack  stores from liquidation, has been declared the new owner of the RadioShack brand, with a winning bid of $26.2 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.”)

The question of how to divide $7.3 billion raised in the international bankruptcy of Nortel Networks Corp. was answered Tuesday by two judges, one in the U.S. and one in Canada. Read the DBR article in WSJ.

A bankruptcy judge in New York agreed to recognize shipper Daebo International Shipping Co.’s foreign bankruptcy proceeding, DBR reports in WSJ.

According to the Associated Press, Fair Finance Co.’s bankruptcy trustee reached a $35 million settlement with lender Fortress Credit Corp.

Dish Network Inc.’s Charlie Ergen thinks LightSquared’s bankruptcy plan gives investing hedge funds a leg up while blocking competing telecommunications firms, Bloomberg reports.

Read WSJ’s update on Patriot Coal Corp.’s latest trip in bankruptcy.

WSJ looks at the question of banks that are too big to fail.

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