U.S. Trustee Diana Adams chose Anton Valukas, a former federal prosecutor and a specialist in white collar crime, as the examiner in the Lehman Brothers bankruptcy case, the Associated Press reported yesterday. Valukas’s investigation could be used to determine whether Lehman executives lied, committed fraud or mismanaged the company. He will need to conduct his investigation simultaneously with several pending criminal investigations. Lehman and its former executives face investigations by U.S. attorneys in the Southern District of New York, the Eastern District of New York and the District of New Jersey, as well as the Securities and Exchange Commission. Valukas’ appointment was approved by U.S. Bankruptcy Judge James Peck yesterday.

Auto-parts supplier Checker Motors Corp., which used to make the iconic Checker taxi cab, filed for bankruptcy protection, citing high labor and raw material costs, as well as weak sales due to a decline in its customers’ market share, Reuters reported yesterday. The Kalamazoo, Mich.-based company filed for chapter 11 protection in a U.S. bankruptcy court in Michigan on Friday, and said that it expects to restructure itself to respond to changes in the auto industry. Checker, established by Morris Markin in 1922 through a merger of Commonwealth Motors and Markin Automobile Body, had assets worth about $24.5 million and liabilities of about $21.8 million as of Nov. 30, 2008, the court papers showed.

Wall Homes Inc., the builder that constructed a north Texas home for ABC Television’s reality show “Extreme Makeover: Home Edition,” sought bankruptcy protection from creditors, Bloomberg News reported yesterday. The Arlington, Tex.-based company listed assets of less than $1 million and debt of less than $50 million in Chapter 11 documents filed Jan. 17 in U.S. Bankruptcy Court in Dallas. Its Wall Homes Texas unit listed assets of less than $500 million and debt of less than $50 million. Wall’s equity partners, Warburg Pincus Private Equity VIII LP and Jen I LP, unsuccessfully tried to work out an arrangement with the lenders prior to the filing. New York-based Warburg Pincus owns 73 percent of Wall Home Inc.’s outstanding common stock and 82 percent of the outstanding preferred stock, according to court papers. The case is In re Wall Homes Inc., 09-30362, U.S. Bankruptcy Court, Northern District of Texas (Dallas).

Interstate Bakeries Corp. has not nailed down financing necessary for the company to exit bankruptcy more than a month after getting a judge’s approval, the Associated Press reported yesterday. The Kansas City, Mo.-based maker of Hostess Twinkies and Wonder Bread said that it is still negotiating with lenders. It also said it couldn’t be sure that it would get the deal done. Agreements providing the almost $600 million in post-bankruptcy financing expire Feb. 9. A spokesman for the company said that if it can’t reach a deal by then and can’t get its lenders to extend the deadline, it would likely have to begin liquidating its assets. Interstate Bakeries has been under chapter 11 protection from creditors for more than four years.

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Jewelry store retailer Shane Co. has filed for chapter 11 bankruptcy protection, saying the business suffered a disappointing holiday season, the Associated Press reported today. The company filed paperwork Monday in U.S. Bankruptcy Court in Denver, requesting to be able to continue paying its 542 employees in stores in 14 states. The court filings show that the company has between $100 million to $500 million in estimated assets and liabilities. The company listed about 6,000 creditors. Its largest creditor was listed as New-York based Dison Gems, Inc., with about $4.7 million, with the 20 largest unsecured claims totaling $26.2 million, according to court documents. The company said it plans to continue business without interruption while it executes a restructuring plan.

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