[wsj-responsive-image P=”//art.wsj.net/api/photos/38149093/smartcrop?height=499&width=749″ J=”//art.wsj.net/api/photos/38149093/smartcrop?height=639&width=959″ M=”//art.wsj.net/api/photos/38149093/smartcrop?height=853&width=1280″ caption=”Martin Shkreli exits federal court on May 3 in the Brooklyn borough of New York City.” credit=”Getty Images” placement=”Inline” suppressEnlarge=”false” ]
KaloBios Pharmaceuticals Inc. reached a deal that would limit former Chief Executive Martin Shkreli’s role at the drug company. 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.”)
DBR reports in WSJ on the bankruptcy filing of Gulf Chemical & Metallurgical Corp. and its Bear Metallurgical Corp. unit.
Arch Coal Inc. revised its bankruptcy plan after not gaining enough support from creditors, DBR reports in WSJ.
Lynn Tilton’s Patriarch Partners LLC says the probe of ambulance company TransCare Corp. is “improper and abusive” and wants it to be called off, DBR reports in WSJ.
Toy company Toys “R” Us Inc. won approval to extend the maturity of bonds maturing in 2017 and 2018, DBR reports in WSJ.
As DBR reports in WSJ, Sweden-based Granges AB is bidding $ 300 million in an auction for the aluminum foil rolling business of Noranda Aluminum.
Penn Virginia LLC’s bankruptcy judge approved a restructuring deal, DBR reports in WSJ.
The Revel casino in Atlantic City, N.J., needs to reschedule its reopening after city officials rejected it, the Associated Press reports.