August 18, 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
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Bush Signs Bankruptcy Bill to Protect Farmers
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Airlines:

United Taps Rivals to Fill Three Key Spots
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Swiss airline looks to persuade lenders
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Northwest pulls out of financial nosedive; lower costs still needed
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Blackout slams Air Canada
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Hawaiian misses SEC quarterly deadline
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Air Canada creditors fear dilution
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Allou:

Feds Allege Spy Novel Tactics
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Law Firms:

When the Lights Went Out - What would make Duane Morris Chairman Sheldon Bonovitz ride a public bus?
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Only Lawyers To Get A $$ Surge From Big Losses
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Kilpatrick Stockton expands in London, eyes New York
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Stating Their Case
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IRS Case Tests Attorney-Client Privilege
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Carolina Investors:

Carolina Investors' demise devastates Upstate town
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Rise And Fall Of Carolina Investors
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Arizona trying to recoup $131 million from National Century
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Energy:

Xcel Energy Wants FERC OK By Oct To Divest NRG Interest
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Xcel sets more NRG charges, dividend at risk
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Mirant Says It Won't File 2Q Report on Time With SEC
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NorthWestern Corp Fincl Chief Resigns
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FERC slates talks with 43 firms on Calif. issues
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Vice president of NWC resigns
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Corporate Reform:

SEC lays down law: Violators can't have it both ways
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84% of Corporate Leaders Have Low Reputation
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Schrager Hotel Files Bankruptcy
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Steel:

National Steel Plan Disclosure Statement Faces Opposition
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Are Letters of Credit Securing a Surety's Exposure Safe?
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Court Confirms Organogenesis Reorganization Plan; Company Set to Emerge from Chapter 11 by August 29, 2003
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Uniroyal Tech Seeks Court OK To Auction Coated Fabrics Unit
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PCB cases could force Solutia into bankruptcy
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Aces head for Chapter 7 bankruptcy
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Depth of debt
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Austin: Chip gear firm files Ch. 11
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Peregrine Agreement on Fraud Charges OKd
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Landlords take termination fees from troubled tenants
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3DO unloads assets
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Seurat falls on hard times
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Two Ex-Ambassador Eyewear Executives Charged With Fraud
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  Pillowtex:

Pillowtex workers may owe medical bills from pre-bankruptcy
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$20.6 million to aid ex-Pillowtex workers
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Rival shows up for Pillowtex's assets
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Pillowtex legal, accounting fees to total in the millions
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Tobacco:

Philip Morris must post $12 billion to appeal ruling
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Altria's Philip Morris Unit Is Set Back on Bond Order
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Telecoms:

WorldCom holders may see cash
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WorldCom shareholders to file claims against Citigroup unit
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Blame spreads far in telecom's fall
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The rise and fall of telecom, networking
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WorldCom: Probe Into Prior Fincl Results Continuing
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Starband files bankruptcy reorganization plan
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Horizon PCS Files for Bankruptcy Protection under Chapter 11
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SBC trying to cope with new reality: competition
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Telecom firm's creditors will be left holding the bag
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Touch America Says It Can't File Its 2Q Report On Time
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House consumer-credit bill offers many needed safeguards
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Enron:

Scrapping over Enron's Leftovers - With the humbled energy trader's reorganization plan taking hits from several parties, the final wrangling may be just beginning
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Lea Fastow hires DeGeurin as lead attorney
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Andrew Fastow's lawyer leaves DeGeurin firm
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State Street Bank Seeks $4M For Running Enron Fincl Plan
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New Orleans: Fair Grounds Files for Chapter 11
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Aliquippa Hospital Ordered To File Bankruptcy Plan
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Ex-Kmart exec fights firm for severance pay
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Farmland's bill nears $30M -- and counting
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Protarga files for Chapter 11
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Advanced Lighting Technologies Files Amended Plan in Voluntary Chapter 11 Reorganization Proceedings
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Household to pay $5.2 million in S.C.
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Elan's 1.3m buys time in bankruptcy struggle
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Malden Mills emerges from bankruptcy, still under financial cloud
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U-Haul parent granted lifeline
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Las Vegas school files for bankruptcy
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Calico Commerce, Inc. Announces Bankruptcy Court Confirms Plan Of Reorganization And Sets Record Date For Distributions To Stockholders
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Clift Hotel files bankruptcy
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Bankruptcies reveal pattern of big spending
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Bad credit history could do a real job on career
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Attorney work product subject to discovery

Video World comes back from the abyss
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User Fees for Processing Offers To Compromise
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New Bankruptcy Opinions
(1 new opinion today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Twinlab Braces for Chapter 11
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Catholic Church denies bishops were ordered to cover up sex abuse claims
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Conseco:

Conseco Judge Sets Sept. 9 For Plan Confirmation Hearing
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Conseco Continues to Battle Legal Technicalities in Attempt to Beat Bankruptcy
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Accounting:

WorldCom Mess Taints KPMG
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Finance directors - the expendable face of the boardroom
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Big Four losing subsidiary work to smaller firms
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The Tax Protesters' Refrain Works for Once
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SEC Responds to FAQs on Auditor Independence
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SEC Settles Case With Audit Firm
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Cruise Ships: The Risk of Insolvency
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BMC Software lays off 473 people as restructuring plan continues
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Lender Capitol Commerce Mortgage declares bankruptcy; loans put in jeopardy
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Asbestos:

Effort Announced to Mediate Asbestos Bill
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Equity Office Is One Of Several Defendants In $300M Suit
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Who Owes Whom? Understanding Setoffs in Reinsurance
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Heilig mired in bankruptcy court / Company has not filed plan for reorganization
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IRS Seeks Court's Help in Inquiry into Dallas Law Firm's Tax-Shelter Clients
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Loral Revenues Plummet, Losses Increase
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Colorado Casino Hopes to Emerge from Bankruptcy in January
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Korea:

SK Global chief resigns
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Daewoo subsidiary units on the verge of bankruptcy
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SK Global S Korea Creditors To Nominate New CEO Tues
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England:

Welsh 'have more debts'
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Britons taking risks with rising debt
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Britons slow to pay off card debt
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Sun sets on cable man who reached for Sky
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BHP Billiton joins predators' dance around Drax
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Current Distressed Companies Update
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Accident Group secured creditors to get 8.2% of debts
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Japan:

Loan sharks fuel Japan's suicide rise
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Canada:

CFL's mess is quite sad
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Laurentian Bank retreats to Quebec home base
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France:

Alstom: Former Chairman To Repay EUR4.1 Million Golden Parachute
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