Vitro SAB, the Mexican glassmaker that has been fighting hedge fund Elliott Management Corp. and other creditors over its restructuring, lost an appeals court bid to enforce its bankruptcy plan in the U.S., Bloomberg reported. The U.S. Court of Appeals in New Orleans ruled against Vitro today and upheld a bankruptcy court ruling that denied enforcement of the reorganization, a result that Vitro had warned would create “chaos” for the company.

Centrais Eletricas do Para SA, a Brazilian utility know as Celpa that was acquired this month by Equatorial Energia SA, filed for Chapter 15 bankruptcy protection in New York, Bloomberg reported. The company, based in Belem, Brazil, listed both debt and assets of more than $1 billion in documents filed today in U.S. Bankruptcy Court in Manhattan. Chapter 15 protects foreign companies from U.S. lawsuits and creditor claims while a company reorganizes abroad. Celpa is asking the U.S.

Micron Technology's plan to acquire Japanese memory chipmaker Elpida took a big step toward completion after a Tokyo court approved the agreement and dismissed a rival plan promoted by a group of bondholders, Reuters reported. A district court in Tokyo said on Wednesday it was referring bankrupt Elpida's plan to be bought by U.S. chipmaker Micron to creditors for approval, according to a news release on Elpida's website.

A U.S. judge told Japanese chipmaker Elpida Memory Inc he was "troubled" by the firm's inadequate efforts to keep creditors informed about its bankruptcy process, and warned he may upend its proposed sale to U.S. rival Micron Technology Inc. Elpida's main bankruptcy proceeding is being handled by a district court in Tokyo, but Christopher Sontchi, the Delaware Bankruptcy Court judge overseeing Elpida's parallel U.S. case, said the company was taking a risk by not keeping creditors better informed.

Vitro SAB, the Mexican glassmaker seeking to salvage its restructuring, urged an appeals court to enforce its bankruptcy plan in the U.S. over opposition from hedge fund Elliott Management Corp. and other creditors, Bloomberg reported. Vitro is facing “legal chaos” with a bankruptcy plan that’s valid in Mexico and unenforceable in the U.S., Vitro attorney Andrew Leblanc told the U.S. Court of Appeals in New Orleans today. “Vitro would be crippled in the United States” if a bankruptcy judge’s decision that denied enforcement of the plan in the U.S. is upheld, Leblanc said.

Frustrated by Japanese chipmaker Elpida Memory Inc's plan to sell itself out of bankruptcy in Tokyo for a perceived pittance, the company's U.S. bondholders are bringing the fight back home, turning to a Delaware court in hopes of wresting control of the case, Reuters reported. Holders of some of Elpida's $5.6 billion in bonds will argue at a hearing on Monday in U.S. Bankruptcy Court in Wilmington, Del., that Elpida's plan to sell itself to U.S. rival Micron Technology Inc for about $2.5 billion drastically undervalues the company.

China Medical Technologies Inc., a maker of diagnostic products, filed for Chapter 15 foreign-firm bankruptcy protection in New York, listing as much as $500 million in assets and debts, Bloomberg Businessweek reported. China Medical, which makes products to monitor various diseases including cancer, also listed foreign bankruptcy proceedings pending in the Cayman Islands, according to a petition posted in U.S. Bankruptcy Court in Manhattan. Chapter 15 helps shield overseas companies from U.S. lawsuits and creditor claims while a company continues the process abroad.

Gerova Financial Group Ltd., a Bermuda-based financial-services company, sought U.S. bankruptcy court protection listing debt of as much as $500 million, Bloomberg reported. The Hamilton-based firm, formerly known as Asia Special Situations Acquisition Corp., filed a Chapter 15 petition in Manhattan today to protect its U.S. assets from creditors. Assets were valued at more than $50 million, Gerova said. Gerova began liquidation proceedings July 20 in Bermuda. Chapter 15 shields foreign companies from U.S. lawsuits and creditor claims while a company continues the process abroad.

The Senate Judiciary Committee yesterday held an hour-long hearing on President Barack Obama’s nomination of William J. Baer to be Assistant Attorney General in charge of the Department of Justice’s Antitrust Division (“DOJ”).

Sanko Steamship Co., the Japanese operator of 185 ships, asked a court to protect its U.S. assets after the company filed for bankruptcy protection in Japan, Bloomberg reported. Sanko listed assets and debt of more than $500 million in a Chapter 15 petition filed in U.S. Bankruptcy Court in Manhattan. Companies use Chapter 15 of the U.S. Bankruptcy Code to protect their U.S. assets while they reorganize operations under the jurisdiction of a foreign bankruptcy court. Sanko said yesterday that the Tokyo District Court granted the closely held company permission to keep operating.