Ryan Kavanaugh Group Closes Deal to Take Control of Relativity Media

A group led by Relativity Media LLC Chief Executive Ryan Kavanaugh have closed a deal to take control of the film studio. 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.”)

As DBR reports in WSJ, bondholders are challenging the hiring of law firm Kirkland & Ellis in the restructuring of Caesars Entertainment Corp.’s bankrupt unit.

Gun maker Colt Defense LLC canceled its bankruptcy auction after receiving no qualified bids, DBR reports.

Energy companies are forming a big chunk of Moody’s Investors Service’s watch list of junk-rated companies, MoneyBeat reports.

According to Bloomberg, Puerto Rico’s general obligation bonds are at their lowest price since August following the White House’s proposal to let the commonwealth use chapter 9 bankruptcy protection to restructure.

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