August 21, 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
Search prior headlines at http://bkinformation.com/PriorEditionsSearch.html

         

Former Polaroid Auditor Seeking to Block Bankruptcy Examiner's Improper Accounting Report
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Polaroid examiner fights effort to seal accounting report
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Third Circuit holds that debtor's assets can be sold in bankruptcy cases "free and clear" of a broad range of interests, including certain successor liability claims
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The importance of getting good financial and specialist legal advice early on
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Borden Chemical Settles Suit With Blast Victims For $25M
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Devs Treading Thin Ice, Deny Bankruptcy Rumors
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Probe set for Maxxim LBO
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Judge's OK helps clear way for key Magellan creditor vote
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Airlines:

United exec says airline has 'turned the corner'
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Colombia's ACES Airline Plans to Liquidate Assets
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Colombia airline group Summa's future up in the air
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EchoStar explores bid for Loral assets Auction deadline deferred to Oct 20
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National Warranty Insurance Group assets shielded in liquidation process
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Pillowtex:

Pillowtex tells court offer for brands worth $88.1 million
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Future unclear for Pillowtex towel, sheet plant
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Pillowtex/GGST: Others Question Deal's Value
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Energy:

PG&E Releases Delayed Earnings; California Utility Upbeat on Restructuring
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Midwest Generation latest to warn of bankruptcy possibility
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Calif Supreme Crt Decision On SoCal Ed Settlement Due Thu
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NorthWestern Corp. Names Drook President, CEO
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Feds Halt NRG's Bid To Pull Plug
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Conseco's Chapter 11 plan passes last hurdle
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Eagle Foods Accepts Some Auction Bids
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Planning a Reduction-in-Force
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CEO of Textile Firm Malden Mills Industries Gets More Time to Secure Financing
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Trenwick Group Ltd., LaSalle Re Holdings Limited and Trenwick America Corporation File U.S. Chapter 11
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Records of bankrupt Meyer Medical Physicians Group remain unclaimed
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Lender's bankruptcy sparks fears
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Accrue Software, Inc. Files Chapter 11 Bankruptcy Petition To Facilitate Sale
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Firm Sues Imprisoned Rap Mogul Suge Knight for Fraudulent Transfer
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  Enron:

Lawyer Wants Enron Secretaries to Tell All
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Firm retained to sell Enron's headquarters
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Enron headquarters put up for sale
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Enron Nostalgia Grips Statkraft, Entergy-Koch as EU Expands
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Enron's former digs officially up for grabs
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Bankruptcy plan approved for notorious Enron partnership
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Law Firms:

MTA law firm hits paydirt
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NY Bar rejects ABA disclosure reforms
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The Drudgery Report: Associates Should Embrace Tedium
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National Law Firm Looks to Offer Florida Doctors Malpractice Insurance
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Schrager:

Ian Schrager Bankrupt
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Dispute over debt forces Schrager hotel into Chapter 11
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'King of hip' hit by financial woes in the past
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Defaulted Loan On Century 21 Ground Zero Building Is Sold
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Lapin investment firm settles with SEC over partnerships
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Solutia 'In Better Position' After PCB Settlement, Co Says
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Telecoms:

The Tawdry Tale of WorldCom's Sweetheart Deal in Iraq
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iPCS creditors win OK to file suit vs Sprint PCS
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Telecom Pioneer Digital Lightwave Reports Loss, Bleeds Cash
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DDi:

Circuit board maker DDi files Ch. 11 bankruptcy
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DDi Corp. to Complete Financial Restructuring and Reduce Debt With Pre-Arranged Chapter 11 Filing
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Court approves extension for Oakwood Homes
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Top-Flite Seeks To Tidy Up Etonic Sale As Auction Nears
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Bankrupt Sofas & More To Close All California Stores
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Task Force Makes Recommendation For S.A. Symphony
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Farmland workers, retirees get a voice
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Investing in Low-Priced Stocks of Bankrupt Firms Is Tempting, But Risky
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Austin: Bradley wins one bankruptcy round
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Kaiser Aluminum amends credit facility
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Princeton Video Completes Sale of Assets
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New Bankruptcy Opinions
(No new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
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US Chapter 11 proceedings and its impact on European business
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Asbestos:

ABB Confident Asbestos Plan To Get OK From Appeals Court
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Despite Opposition, Asbestos Expert Hopeful of Hatch Bill Passage
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Court Grants ABB Settlement Plan Appeal Fast-Track Priority
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Combustion Engineering Appeal Minute Order
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ABB Says Sale of Businesses Not Delayed by U.S. Court Ruling
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ABB Shares Drop After U.S. Court Delays Bankruptcy Settlement
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Corporate Reform:

SEC going after board members who ignore corporate misdeeds
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England:

Radical reforms to security registration and priority law
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Border remains between Scottish and English insolvency
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Coping with insolvent customers or suppliers
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Key provisions of the Enterprise Act, as it applies to corporate insolvency
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IP trumps Goldman Sachs bid for Drax
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Goldman comes out fighting in Drax battle
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Drax bidding war heats up
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Vocalis goes under with 1.5m debts
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Vocalis appoints administrator
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Japan:

Japanese body to announce rescue targets soon
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Bank-reform advocate to set up new bank in Japan
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Australia:

Liquidation better than rescue: Pan administrator
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France:

French Securitization Law Impact May Be Limited
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EU Vows 'Rapid' Probe of Alstom Bailout
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Thailand:

Central Bankruptcy Court orders streamlining of TPI, TPIPL assets
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Korea:

SK Global and former execs punished for accounting fraud
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