April 22, 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

         
Airlines:

American Air meets with labor leaders, shares fall
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AMR CEO vows to give unions complete confidence during restructuring
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S&P May Still Cut Ratings on American Air
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2 AMR unions to seek revote
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Furious, American's Unions Talk of New Votes
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Union: Coffee, Tea, Or Ch. 11?
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'Sorry' doesn't sway AMR workers
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CEOs You Don't Want in the Cockpit
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Doubts Grow about American Airlines' CEO
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More Turbulence for American as Flight Attendants Plan New Vote
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Bankruptcy law's flaws threaten airline
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Air Canada court battle looms
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Scotiabank aims to block Air Canada retention perks
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Air Canada Losing C$3 Million a Day, Cash Eroding
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Whose money is it?
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Air Canada Facing Crucial Bankruptcy Hearing Tuesday
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United to test food sales
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Pennsylvania may pay to keep US Airways
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It's Time for Airlines to Fly or Fail, Congress Says
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Hawaiian Airlines to employees: keep focused
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Southwest keeps string of profit
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Rendell to meet with Allegheny County about US Air lease rejection
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Midwest Airlines' Executives Received Bonuses Based on Previous Performance
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North American Filings Continue to Buffet Values
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Making Crew Cuts
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Salespeople liable for clients' Evergreen losses, trustee says
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Enron:

Enron Seeks Extension of Exclusivity - The Motion
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Second Circuit Holds that Automatic Stay Applies to Debtor's Wholly-Owned Corporation
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English Court Grants Order of Administration to Company Incorporated in the United States
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Debtor Entitled to Sell Its Rights to Assume And Assign Leases and to Determine the Party to Whom Assignment Will Be Made
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HealthSouth:

Ross Mulls Healthsouth Debt Stake
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US health operator HealthSouth to delay shake-up
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More guilty pleas in Healthsouth fraud
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Indianapolis: Last of chef's 3 bankrupt restaurants quietly closes, could be start of a trend
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  Asbestos:

New Developments in an Old Arena: Risks and Rewards in Pre-Packaged Expedited Asbestos Bankruptcies for Debtors, Claimants and Insurers

Forward Planning: Bottomless pit of asbestos lawsuits
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Energy:

El Paso, Dynegy named in lawsuit
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Accounting:

PwC faces billion dollar suit
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PwC sued for £1.7bn over rental firm's near-bankruptcy
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Amerco Sues PricewaterhouseCoopers Over Accounting
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Plan Crafted Solely to Cure Default and Reinstate Debt Without Default Interest Held as Proposed in Good Faith
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National Finance co-founder considers $5M debt payment (
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Bankruptcy court approves President Casinos' reorg plan
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Debtors May Agree to Indemnify Financial Advisors Against Claims of Negligence But Not Gross Negligence
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CytoDyn to Develop AIDS Drug after Amerimmune Bankruptcy
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Agway Outlines Next Steps in Chapter 11 Process
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Aladdin's strong quarter sets stage for 'stalking horse' bid
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Tobacco:

BAT on S&P credit watch
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Allou:

Discrepancies Led Allou to Bankruptcy
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Banks Seek Chapter 11 For Allou Parent
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Counting up the toll from the Silicon Valley technology bust
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Rootlevel is economy's latest high-tech victim
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Sequel to bankruptcy - This End Up is back in business and doing well
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Hearing Is Set To Assess Value of San Diego Software Firm
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Law Firms:

Heart Trouble - You're good enough, you're smart enough -- and doggone it, you still can't get a date
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Business Still Booming
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Dying NY Firm Raided for 10 Attorneys
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Cadwalader's Possible Move Called Key to Downtown
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A Staffer Gives His View of the Brobeck Disaster
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Bar Surprised by Plan to Allow SEC to Fine Attorneys Up to $2 Million
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Attorney Suspended For Squealing on Corrupt Judge
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Lawyers Okayed to Work in Former Brothel
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Bankruptcy Filings in Wisconsin on Pace for Another Record
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Pacific Life Insurance Takes Control of Bankrupt Golf Clubs in Southern Nevada
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New Bankruptcy Opinions
(2 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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Telecoms:

AT&T Latin America Files for Ch. 11
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Creditors' Ire Threatens Pace of MCI Rebound
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Pacific Crossing draws $63M offer
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Global Crossing judge approves fees
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Digex expects a boost from WorldCom
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Arizona firm bids on bankrupt fiber-optics
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Riverside, Calif., ISP Swiftcomm Is Facing High-Speed Bankruptcy
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Verizon Chief's Reign Ends, but Gravy Train Thunders On
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Kmart:

Kmart, creditors negotiate
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Kmart Aims for May 5 Bankruptcy Exit
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Kmart Resolves Most Objections; Hearing to Continue Tues
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Sixth Circuit Holds that Congress Validly Abrogated States' Sovereign Immunity In Bankruptcy Code Section 106(a)
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Steel:

U.S. Steel approved to buy NatSteel
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U.S. Steel OK'd to buy National; AK Steel says deal unfair
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Analyst Says AK Steel 'May Have Won' in Losing Battle for National
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Madster creator ordered to pay nearly $109K
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US financials offer little hope of growth
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High court to hear ETS Payphones SEC case
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Bankruptcy Court Interprets Intervenors' Rights in Adversary Proceedings
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Union Acceptance Sells its Servicing Platform and Servicing Rights
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Brazil:

Cross-border Insolvencies and Restructurings in Brazil

Creditors lose patience with Varig
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New Zealand:

Insolvency protection sought
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Thailand:

Creditors uneasy at TPI founder Prachai's return
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England:

Drax creditors urge rivals to help with restructure
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Poland:

Union Banka judge´s bankruptcy cases getting another look
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