April 10, 2003 

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

         
DIP Dimensions: Spiegel Group Inc.
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Airlines:

AMR Chairman continues employee Town Hall meetings
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AMR Reaches Deal with Union, Pay May Rise
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American Airlines Offers Bonuses in 2006
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Facing danger - and layoffs - Reservist pilots on active duty could lose jobs upon return
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United Airlines reports progress in talks on concessions
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As Industry Sags, Mesa Air Tries To Be The Un-Airline
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Is Boeing Bailing Out of Passenger Jets
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UAL closing in on labor savings
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United reaches deals with all but one union
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U.S. airline passenger traffic tumbled 17.4% last week
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Terror fears, weak economy dog airlines
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Delta wants options overhaul
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Some of Air Canada's creditors are considering a legal challenge against what they call an opportunistic loan by G.E. Capital
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Ottawa thinking long and hard before cutting rents, fees for airlines
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Insolvent airline summons hired gun
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Air Canada admits it's flying blind
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Allegheny County works on airport leases
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Former union exec to lead Hawaiian committee
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Escort is airline's latest cut
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Battle of the skies to survive
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Hooray for an Airline That Deserves to Live
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Spiegel seeking buyer for Eddie Bauer
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Risking censure may be wiser than declaring bankruptcy for U. Nebraska
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Red-light special: After bankruptcy, Kmart bonuses
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Bondholders win auction for Graham-Field's assets
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Settlement lets bankrupt Hayes avoid bigger rift
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Steel:

U.S. Steel to bid anew for NatSteel
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Labor agreement helps U.S. Steel bid for National
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Denver: Box Elder Creek Ranch LLC files Chapter 11
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Fate of Bankrupt Norfolk, Va., Hotel May Be Decided Soon
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Carolina Investors files for bankruptcy
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Philip Morris:

Options narrow for Philip Morris in bond battle
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Shift in Bonds Has States Rethinking Tobacco Plans
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Altria Credit Ratings Cut
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Recoton goes for DIP loan
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Judge approves Lids liquidation
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Malden Mills gets extension for reorg plan
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Erker Optical files for Chapter 11 bankruptcy
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  Letter from Delaware - Burlington shareholders make some noise, Illinois Tool Works wins a round and Ameripol Synpol feels the heat
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Asbestos:

Asbestos Exposure Cases Draw Big Awards
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Bankruptcy Reform:

Spitzer Targets Street In Bankruptcy Conflicts
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Spitzer Assails Provision of Bill To Overhaul Bankruptcy Law
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Executives may have to return bonuses
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Bill Allows US Crts To Recover Executive Bonuses In Bankruptcy
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Press Briefing On Child Support in the Reform Act

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Allou Healthcare:

It's Chapter 11 for Allou
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Allou/Bankruptcy: Inventory Was Destroyed In Fire
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Allou Healthcare, Inc. Announces It Has Consented to an Involuntary Petition for Bankruptcy
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New Conseco reorg plan being offered
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Fleming:

General Electric Units Oppose Terms Of Fleming Loan Pact
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Heritage Ppty/Filing: Fleming Filed To Reject Some Leases
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Path of lease resistance - Bankrupt retailers are raising cash by selling designation rights to their property leases. Some landlords are hopping mad
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Telecoms:

New lawsuit in WorldCom-Pac Bell battle
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Focal faces upset creditor
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Sneak Peek Says WorldCom's Ready to Roll
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Judge Authorizes Globalstar To Negotiate Sale Deal
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Federal Reserve Official Urges Bankers to Be Vigilant
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HealthSouth:

Scrushy takes Fifth in fraud case
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Nine Little Indians: Former HealthSouth CFO to Plead Guilty to Fraud Charges
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Now, Employees Sue HealthSouth
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Consolidated Freightways terminates deal to sell Canadian subsidiary
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Wall Street:

Wall Street Stymies Prosecutors
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Credit Counseling:

Consumer groups warn about credit counselors
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IRS Renews Study of Credit-Counseling Firms
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IP Services Inc Claim by Trustee in Bankruptcy in Colorado
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Ntelos To Sell Cable TV Business
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Wastecorp. Filed For Chapter 11
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Enron:

Testimony Casts Doubt on Enron Tax Deferrals
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FdG gets Limbach Facility Services
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Jobs 871 Jobs - Last Updated February 3, 2003
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Law Firms:

The Attorney, Unemployed
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Planning a Web Site With Some Punch
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Split Decision - Thelen Reid partners face uncertain path to future growth
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Citigroup: US law firms smash profit predictions
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Clifford Chance leads where others look likely to follow
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20 jobs to go as Clifford Chance gets tough on headcount
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ABN Amro launches conflicts crackdown
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Tax row stalls LLP move
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Business confidence among leading lawyers shows few signs of making an early recovery
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Lawyers Who Dropped $15 Million Case Not Entitled to Fees
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Football League targets Hammonds with Mayer Brown instruction
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Pillsbury furthers Silicon Valley expansion with Cooley Godward lateral
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Show them that you care - make sure hard-won clients stay
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Magic circle resist following Clifford Chance’s salary cutbacks
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In-House: Raising your game - Can performance measures help law firms achieve a higher level of service?
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Osborne Clarke management shake-up
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Allen & Overy defeats rivals to lead Euro M&A
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Winston & Strawn hires Deloittes Paris team
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Clifford Chance suffers rare loss to Allen & Overy
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Shearmans set for May vote on LLP status
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Former Budget Group Seeks 60 More Days Of Exclusivity
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Accounting:

FDIC's Powell: Dearth Of Accounting Firms Raises Concerns
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SEC Faces First Suit Over Sarbanes-Oxley
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Deloitte Consulting Names New CEO
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IRS Can't Collect Billions in Unpaid Taxes
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Sarbanes-Oxley: Tech to the Rescue?
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Adelphia Communications Founder, Sons Won't Fight New York City Trial Venue
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Senate votes to broaden SEC powers - Plan allows SEC to directly levy fines against officers, directors and subpoena financial documents
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Canada:

Alternative Fuels cuts one-third of staff, files for bankruptcy protection
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New Zealand:

'Merciless' bankrupt jailed for beer scam
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'Dead' debtor ran new business
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Japan:

Hokkaido Shinko Files for Bankruptcy With $288 Million in Liabilities
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