December 10, 2002 

Daily Bankruptcy News

Brought to you by BKINFORMATION.COM - The Source for Business Bankruptcy Information on the Internet 

Also available on the Web (with links to the news stories)  at: http://bkinformation.com/News/DailyNews.htm

Prior editions available at http://bkinformation.com/bankruptcy_news.htm

         
Kmart:

Kmart plans to restate results for past 3 years
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Economy:

Nasdaq Sees Largest Drop since Mid-October
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Polymer:

Polymer revises reorg plan
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Polymer Group takes next bankruptcy step
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Telecoms:

Light at the End of the Fiber?
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Pac Bell Opposes WorldCom Bid To Reject Calif. Contracts
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WorldCom CEO to get salary, bonus, stock
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Court OKs Adelphia Commun Severance Plan For IT Workers
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C&W asks for loan guarantee
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Qwest bondholders filed amended complaint
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Company run by Treasury nominee is tax deadbeat
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President starts rebuilding his economic team
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Long To-Do List for New Economic Team
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US resignations pave the way for massive tax cuts
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Drastic pension changes proposed
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Farmland Industries Plans Truncated Annual Meeting
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Owens Corning stock faces delisting on NYSE
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Appeals court tosses silicone implant verdict
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Law Firms:

Weil Gotshal tops Cravaths bonus award
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Dechert Lays Off Associates
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Supremes Hear IOLTA Arguments
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With Merger Pending, Firm's Partners Rush for the Exits
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Clifford Chance to raise $100m in US private placement
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Fired Lawyer Challenges Employee Handbook Waiver of Jury Trial
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Attorney Held Responsible For Paralegal's Blunder
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Sidley's Hired Help
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Court rules Jones Day negligent on Saab case
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Saab: the final judgment
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Pay freezes come too late for Pillsbury 12
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After Layoffs, Cooley Names 10 New Partners
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What's Hot & Not in the Legal Profession
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Theodores rocked by double defection as corporate partners head to Salans
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Because you're worth it - The faces in recruitment ads
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Mass Ernst & Young law firm defection could spell doom for Sweden
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Osborne Clarke drops international merger plans
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Amhurst Brown owed 6m after fraud case - Liability of 'innocent' partners broadened in key professional indemnity case
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Energy:

New Players in Energy Trading
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Bankruptcy May Compound Your College Loan Problem
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Airlines:

Bankruptcy airline slashes wages
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UAL's fate hinges on labor talks
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UAL's Next Destination: 2004
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United's next battle is simply to survive / Bankruptcy shows airline bleeding $20 million a day
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Labor Not to Blame for Failure, Some Say
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Bank One Provides $600 Million DIP Financing to United Airlines
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United's homefield advantage
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Eugene R. Wedoff / Bankruptcy judge widely respected as smart, practical
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Chicago Court Seeks Chapter 11 Cases
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A Hands-On Approach to Cases Filed in Chicago
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How United lost control of rescue
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UAL Bankruptcy Bad News for Creditors, Investors
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Judge OKs $800 Million Financing for UAL
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United files biggest airline bankruptcy ever
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UAL Asks Court to OK an Array of Advisors
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Bankruptcy 'is going to be painful'
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UAL Leaves AT&T, Boeing and Banks on the Hook
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Other carriers' troubles not yet United-size
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Labor key to restructure
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United CEO Warns of 'Agonizing' Changes
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United's Tilton no stranger to bankruptcy
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United joins US Airways in bankruptcy
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White House/United: Says Board Must Protect Taxpayers
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Many UAL Staff May Be Forced To Take Off
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How Not to Get Grounded
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Lufthansa May Take Equity Stake in United
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Lufthansa mulls aid for United Airlines
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Lufthansa says United stake is "speculation"
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Terrorist attacks the final straw for United
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United Airlines' Last Chance
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Bankruptcy could just be turbulence before safe landing
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McKinsey Works on a Vision for Airline
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UAL Bankruptcy Filing Poses Increased Credit Risk For Certain Hub Airports
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EDS Outlines Lease Deal With United
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United Bankruptcy Will Hit Small Carriers
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Bloated, bust and losing billions - yet United insists it can fly on
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History shows UAL faces tough road to health
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Stocks fall on UAL bankruptcy
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City of Chicago Wants United Airlines to Share Rights to O'Hare Aircraft Gates
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US Airways: United code-sharing on track
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United took off from Boeing roots
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Qantas seen benefiting from United woes
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M'bishi Tokyo may be unable to collect billions from United
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NYSE reviewing UAL listing after Chapter 11 filing
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Business Fliers' Loyalty Is United Asset
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United Airline's Troubles Ripple to Wisconsin Carriers
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United's holiday travelers may fare well
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Star Alliance Confirms 'Business as Usual' at United
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City may lose millions in United bankruptcy
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After bankruptcy - That was then, this is now - To survive, airlines take low-cost approach
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Crunch time: United in bankruptcy
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Ask the pilot
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Out of a Tailspin: A Recipe For Airline Rescue
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British jobs at risk as UA fights bankruptcy
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UAL Employee Stock Plan Sold 9.6 Million Shares Past 2 Weeks
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United dispatches reassurance to Dulles
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United Airlines files for bankruptcy with $23 bil in debts
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CIT Quantifies Exposure to UAL Corp.
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We're not another Ansett: United
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How could UAL afford those low fares? They couldn't
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UAL Corp. expects 18-month receivership
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United now needs to cut costs, maintain morale
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Backing Key to Security of UAL Tax-Exempt Airport Debt
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Experts say United needs quick repairs
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Billion-dollar stunts don't fly with air board
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ALPA President Rails Against UAL Forced Bankruptcy, Says Government Failed Legacy Airline
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Statement by UAL-MEC Chairman Captain Paul Whiteford On United's Filing for Chapter 11 Bankruptcy
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Airlines, New Congress Will Clash Over Security Costs
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Vanguard selling off Boeing 737 parts
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Jobs - 261 Jobs - Last Updated December 9, 2002
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Enron:

Citi, J.P. Morgan feel more Enron heat
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Settlement Reveals Another Enron Strategy
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Enron Lawyers Face Fee Cuts
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Banks tangled in Enron deals defend actions
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Court steps in as Enron fees spiral
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FERC analyst says Enron should refund some profits
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Senator accuses 2 firms for aiding Enron 'sham'
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Investigators zero in on Wall Street banks' roles in Enron scam
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Ceyoniq Files Chapter 11
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Why did U-Haul have an off-the-books entity hold title to its storage centers?
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Boston Archdiocese:

Law May Be Seeking OK from Vatican for Bankruptcy
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Law should depart, reject bankruptcy
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Vatican Reads Riot Act To Boston's Law
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More Files Released as Boston Cardinal Stays in Rome
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Former owners of Psychic Friends Network settle SEC charges
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Credit insurance: Dr Pangloss lives no more
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Bankrupt developer ready to take another gamble
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Corporate Reform:

Restoring investor trust won't be easy
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Fraud Trial Begins Over D-Day Memorial
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Cold Metal Products, Inc. Has Retained Keen Realty and CB Richard Ellis in Chapter 11 Proceedings
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Steel:

Birmingham Steel wraps up sale to Nucor
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Asbestos:

Supreme Court Won't Review Virginia Asbestos Trial
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Legal experts warn asbestos battle far from over
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Asbestos continues to damage
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US company Centerpoint files for bankruptcy
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Accounting:

Audit panel members scrutinized
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Bankruptcies Surge in Western Pennsylvania
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Japan:

Firms to be probed over Ishikawa Bank's bad loans
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England:

Royal Bank of Scotland downplays bad debt
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Australia:

Bad debt not my fault, says 'unfit' lawyer
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Australian Government Reforms Bankruptcy Laws To Prevent Abuse
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Bankruptcy crackdown in Australia
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