Edgenet Inc. filed for Chapter 11 bankruptcy protection Tuesday in an effort to safeguard the planned sale of the company during a fight among creditors, who are battling over how to split up the proceeds. Read the Daily Bankruptcy Review article here.
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The Catholic Diocese of Stockton, Calif., said it would become the 10th U.S. diocese to file for Chapter 11 bankruptcy protection in the wake of the church’s sexual-abuse scandal. The DBR article is available via The Wall Street Journal.
Constar International Holdings LLC, which is headed into a bankruptcy auction for its assets, on Tuesday chose an affiliate of Black Diamond Capital Management to finance its bankruptcy after a “mini-auction” urged by the judge presiding over the case. Read the DBR article via Nasdaq.