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The next chapter in the long-running saga of the Chicago Spire site will be written during the next few weeks, as creditors get their say in developer Garrett Kelleher's plan to exit bankruptcy protection and restart the project, the Chicago Tribune reported today. During hearings in bankruptcy court last week, Judge Janet Baer approved the distribution of Shelbourne North Water Street LP's proposed bankruptcy plan to creditors for voting. She also established the timetable for how events will unfold this fall to determine who will control the future of the coveted site at 400 N. Lake Shore Drive. By Sept. 29, creditors must submit votes on the plan and all objections to it must be filed. A hearing on the plan’s confirmation is scheduled for Oct. 7.

CRS Holding of America LLC, whose subsidiaries recycle electronics such as televisions and computers, filed for chapter 11 protection at the direction of its court-appointed receiver, Dow Jones Daily Bankruptcy Review reported today. In papers filed on Friday with the U.S. Bankruptcy Court in Tampa, Fla., CRS, short for Creative Recycling Systems, said that it plans to use chapter 11 to stabilize its operations and then sell its business, using the proceeds to repay creditors.

Major League Baseball’s Houston Astros and the National Basketball Association’s Houston Rockets are fighting to cut partner Comcast Corp.’s claim for a $100 million loan to the bankrupt cable network that televises the teams’ games, Bloomberg News reported on Friday. The largest U.S. cable provider would have its claim reduced to as little as $16 million and no more than $23 million under a revised restructuring plan filed yesterday for Houston Regional Sports Network LP, which is jointly owned by the teams and Philadelphia-based Comcast. The sports network filed a plan this month to exit bankruptcy protection and ditch Comcast for AT&T Inc. and DirecTV in a deal for them to buy all of the reorganized company’s equity and sign new media rights agreements with the teams. The new media rights deals would more than double the network’s availability in its home market and more than triple affiliation-based revenue, according to the restructuring plan.

China's National Electric Vehicle Sweden, which bought bankrupt carmaker Saab in 2012, won protection from creditors from a Swedish court on Friday while it concludes funding talks, Reuters reported on Friday. The decision gives the company, which has not built any cars since May because of a shortage of money, breathing space from creditors to whom it owes some 400 million Swedish crowns (57.56 million US). Separately, Saab AB, the defense firm from which Saab Automobile was created in 1990, added to loss-making NEVS' troubles on Friday by saying that it had withdrawn its right to use the brand name Saab.

Troubled electronics retail chain RadioShack is racing against the clock as it weighs its options, including a refinancing or a bankruptcy, TheStreet.com reported yesterday. It is burning through cash rapidly as it is unable to close money-losing locations. RadioShack planned to close up to 1,100 stores earlier this year, which was later blocked. Holding up the plan is Salus, which holds a $250 million second-lien loan. There is a covenant on that loan that requires RadioShack to get the lender's approval if it is to close more than 200 stores, but closing those stores would also mean a reduction in inventory. RadioShack hopes to get help from hedge fund Standard General, which might help with arranging financing that could not only buy RadioShack some extra time, but also give it flexibility in closing stores.

Crunchies Food Co. LLC has filed for chapter 11 in response to what it said was a small group of investor-creditors taking hostile and aggressive actions, the San Fernando Valley Business Journal reported yesterday. The Westlake Village, Calif., freeze-dried snack food company said that it will continue to operate in its normal course of business during the reorganization period and will continue distributing to retailers. Crunchies sells organic snacks grown from non-genetically modified seeds that contain no sugar, salt or additives. The company filed for bankruptcy earlier this month.

An energy company has resumed production at an ethanol plant in Indiana along the Ohio River that was shut down more than two years ago by its previous owner, The Associated Press reported yesterday. Valero Renewable Fuels said that the plant at the Port of Indiana-Mount Vernon was operating with about 65 employees. The plant, located 20 miles west of Evansville, Ind., was closed due to a decline in the ethanol market in 2012. Company officials cited the plant's access to corn suppliers, as well as strong rail, truck and barge transportation. San Antonio-based Valero bought the plant in March from Pekin, Ill.-based Aventine Renewable Energy. The Indiana Economic Development Corp. offered Valero up to $600,000 in tax credits based on its hiring plans.

After years of enrollment losses, Anthem Education, a for-profit chain of colleges and career institutes, filed for bankruptcy on Monday, InsideHigherEd.com reported today. The company has abruptly shut down a number of its campuses, leaving state agencies struggling to funnel displaced students into other institutions. Anthem had 41 campuses prior to declaring bankruptcy. Before it filed for bankruptcy, the company sold 14 campuses to International Education Corp. Anthem is in the process of selling an additional 14 campuses to IEC, but requires federal approval to do so. Unless the U.S. Department of Education approves the transaction today, nine of those 14 campuses will close, Anthem officials said.

Struggling cupcake maker Crumbs Bake Shop Inc. has won an approval from court to reopen stores next month, RTTNews.com reported yesterday. Hon. Michael Kaplan signed off on the sale to Marcus Lemonis and Dippin' Dots owner Fischer Enterprises, which is taking over Crumbs in exchange for the cancellation of some $6.5 million in debt. The company now intends to open about two dozen locations, in New York, Los Angeles, Chicago, Boston and Washington, D.C.

Apollo Global Management LLC’s Momentive Performance Materials Inc. won conditional court approval for its bankruptcy reorganization plan after days of wrangling with holdout creditors, Bloomberg reported today. The ruling by Hon. Robert Drain yesterday is a victory for Leon Black’s Apollo, which took over the Waterford, N.Y.-based chemical company for $3.8 billion in 2006. Judge Drain said that he was prepared to approve the plan if Momentive boosted the interest being offered on notes in the reorganized company. Momentive listed $2.69 billion in assets and $4.17 billion in debt in its chapter 11 filing in April. The case is In re Momentive Performance Materials Inc., 14-bk-22503, U.S. Bankruptcy Court, Southern District of New York (White Plains).