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Coldwater Creek Inc. has adjusted its chapter 11 payout plan but still faces a fight with unsecured creditors over its offer to give them seven cents to nine cents for each dollar they are owed, Dow Jones Daily Bankruptcy Review reported today. Coldwater Creek's lawyers filed a revised chapter 11 plan on Friday reflecting better-than-expected results from the women's clothing retailer's bankruptcy auction and asked for an Aug. 7 confirmation hearing to lock the plan in place.

A bankruptcy judge yesterday signed off on Dolan Co.'s bankruptcy restructuring plan that hands control of the legal publishing business to the company's lenders, Dow Jones Daily Bankruptcy Review reported today. Bankruptcy Judge Brendan L. Shannon approved Dolan's chapter 11 plan to turn its business over to Bayside Capital Inc. and other lenders despite the protests of shareholders who argued that the deal deliberately undervalued the company in order to strip shareholders of their stakes.

Bankruptcy Judge Kevin Gross yesterday cleared the way for creditors to vote on the chapter 11 plan that sets out the distribution scheme for cash and stock raised in the sale of failed hybrid auto maker Fisker Automotive Inc., the Wall Street Journal reported today. Judge Gross signed off on voting materials, allowing balloting to begin on the chapter 11 payout plan for the old Fisker, the remnant of the operating company that was sold for $149.2 million to China's Wanxiang Group. Fisker, its unsecured creditors and the company's secured lender, a company connected to Hong Kong billionaire Richard Li, settled their differences over dividing the sale proceeds in advance of yesterday’s hearing in bankruptcy court.

A bankruptcy judge on Friday approved the appointment of a chapter 11 trustee to take control of TelexFree LLC, the company behind an alleged pyramid scheme that promised more than $1 billion in returns to investors around the world, Dow Jones Daily Bankruptcy Review reported today. After reviewing a group of applicants, a Department of Justice representative who oversees bankruptcy cases appointed Stephen Darr, senior managing director at Mesirow Financial Consulting LLC to the position on Thursday, meaning he will make the day-to-day administrative decisions that will determine TelexFree's next steps in the bankruptcy process.

A Chinese consortium that won an auction to buy Brookstone Holdings Corp. out of bankruptcy plans to keep nearly all of the specialty retailer's 240 stores open despite earlier indications that it could close as many as 25 locations, an attorney for Brookstone told a bankruptcy judge on Friday, the Wall Street Journal reported on Saturday. Sailing Innovation US Inc. — a collaboration between Chinese investment firm Sailing Capital Overseas Investment Fund LP and Chinese conglomerate Sanpower Group, with a financing commitment from GE Capital — emerged as the winner for Brookstone at a June 2 auction with a bid valued at about $174 million. The deal includes $137.5 million in cash, $10 million in second-lien notes, and the assumption of about $28 million in liabilities, K&L Gates LLP partner Charles Dale said on Friday during a hearing before Bankruptcy Judge Brendan Shannon.

After reaching an agreement with unsecured creditors, Fisker Automotive Inc. will move forward with its bankruptcy-exit plan today, when it will ask the court to approve its disclosure statement, the Wall Street Journal reported on Saturday. The agreement with creditors, reached earlier this week on the terms of a cash-sharing plan, headed off the threat of a major clash during the hearing. An approval from Bankruptcy Judge Kevin Gross would allow Fisker to begin soliciting votes on the plan from creditors ahead of requesting final exit-plan approval. China’s Wanxiang Group bought the former hybrid auto maker during a bankruptcy auction, leaving $149.2 million in cash and stock to be distributed among Fisker creditors. Fisker’s creditors have agreed to support the plan, but it still faces a challenge from a former company backer, which says the bankruptcy voting scheme plan could improperly shield former leaders from an ongoing federal court lawsuit over the auto maker’s failure.

MF Global Holdings Ltd. wants a judge to slash the claims of former officers being sued over the broker-dealer's bankruptcy, including ex-Chief Executive Jon S. Corzine, so the estate can quickly pay back other creditors, the Wall Street Journal reported on Saturday. In a court filing on Thursday, lawyers for the team winding down MF Global asked Bankruptcy Judge Martin Glenn to cancel certain claims filed by Corzine and others, or at the very least, place them below those of other creditors or estimate the maximum amount the officers could receive. In the filing, administrator winding down MF Global said, without the approval, "these contingent and unliquidated claims will unduly delay the administration of the chapter 11 cases and prevent the plan administrator from making distributions to all creditors." With an approval, some creditors of MF Global's Finance USA unit could see some of their money within weeks, the filing said. A hearing on the matter is set for June 19.

Momentive Performance Materials Inc., a maker of silicone and quartz products owned by Leon Black’s Apollo Global Management LLC, is girding for a dispute over the bankruptcy exit plan it wants a judge to confirm in August, Bloomberg News reported on Friday. Momentive may face opposition to the plan’s approval at a five-day trial starting Aug. 14, given that litigation with creditors may require a “substantial” investigation, according to court papers filed yesterday. Momentive asked Bankruptcy Judge Robert Drain to approve a schedule that would wrap up discovery in the cases by July 25. Discovery should “take place on an expedited timetable,” Momentive said in the filing. The company said that it began talks with its creditors’ committee to try and speed up document production, deposition of witnesses and other matters.

Bankrupt Energy Future Holdings, Texas's largest power company, received court approval on Friday for one of its main businesses to borrow $5.4 billion to carry out a refinancing that is key to its huge restructuring, Reuters reported on Friday. Approval of the loan to Energy Future's EFIH unit, which controls the Oncor power lines business, was tied to a settlement offer that was also approved on Friday by U.S. Bankruptcy Judge Christopher Sontchi. In April, Energy Future filed one of the largest U.S. bankruptcies after a year of negotiations with creditors. The company is working on a restructuring plan to slash its $42 billion in debt. Under that plan, the EFIH unit would use the $5.4 billion to refinance some senior debt to lower its interest payments.

Creditors of Energy Future Holdings Corp., the bankrupt Texas power provider, agreed to drop objections to $4.5 billion in loans needed to keep its main operating unit running while under court protection, Bloomberg News reported yesterday. Bankruptcy Judge Christopher Sontchi said yesterday that he will approve the loans once he sees the final wording of the terms. The company may still face opposition to a separate proposed package of $5.4 billion in loans that would be used to pay off bondholders of the company’s regulated unit. The judge said he will consider approving those loans at a hearing today.