Supreme Court Gives Bankruptcy Judges Power to Make Final Decisions

The U.S. Supreme Court on Tuesday said bankruptcy judges have the power to make final judgments in certain legal disputes—a decision that bolsters the power of U.S. Bankruptcy Court system. 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.”)

Highland Capital Management is suing Credit Suisse Group AG for more than $500 million, the hedge fund firm’s latest salvo in efforts to recoup some losses from the Swiss bank’s ill-fated loan program to developers of luxury properties in the U.S. Read the DBR article in WSJ.

WSJ reports that the Manhattan district attorney alleged that Dewey & LeBoeuf LLP hatched a fraud plan in 2008.

A judge last week approved the $17.25 million sale of Doral Financial Corp.’s insurance arm to Popular Insurance LLC, which won a competitive auction earlier this month for the business, DBR reports in WSJ.

New Revel casino owner Glenn Straub said there’s “no way” the Atlantic City, N.J., casino will reopen this summer, the Associated Press reports.

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