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Today’s column updates readers on major events that transpired in the high-profile bankruptcy cases of Hostess, American Airlines, Reader’s Digest and Girls Gone Wild. The column discusses recent sales of Hostess’ iconic brands including the infamous Twinkies. The column also describes the merger of bankrupt American Airlines with U.S. Airway and the plan of reorganization filed by Reader’s Digest. In addition, the column describes Girls Gone Wild’s tumultuous entry into the bankruptcy world. Finally, the column discusses Detroit’s efforts to alleviate their financial woes with the help of a renowned bankruptcy practitioner.

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