August 27, 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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Asbestos:

Court Orders Asbestos Claims Processor to Disgorge $2.4 Million Due to Conflicts and Failures to Disclose
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ACandS Flagged By US Trustee Over "Remarkable" Subcontractor Conflict - Asbestos Claims Evaluation Vendor Owned By Paralegal On Leave From Plaintiff's Firm
(WSJ: separate paid subscription required)

$350 Million Investment Proposed in Federal-Mogul
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Owens Corning Plan Summary Opposed Ahead Of 2nd Hearing
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Steel:

U.S. steel imports sink 38 percent in July
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Enron:

Newspaper shut out of 2 more Enron hearings
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Enron Case Private Conferences to Continue
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Firm Acquires American Pad
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Troubled Commercial Mortgages Gain Popularity Among Investors
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Mississippi Chemical still struggling, no time frame for emerging from bankruptcy
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As layoffs mount, import relief sought
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Steel:

Arcelor Shows Steelmakers How to Profit -- Make Less
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Is the U.S. auto industry doomed?
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Energy:

Bankrupt Mirant Looks to Secure $500 Million in New Financing from GE Capital
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Appeal denied over EOTT plan
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Banks ask FERC to exclude hedging from holding limit
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NorthWestern extends key vote, angering shareholders
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Irate but fairly polite crowd grills NWC chief
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NWC ends a combative meeting
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Accounting:

Shareholders of former Polaroid Corp. sue former accountants
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Small Accounting Firms Exit Auditing
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Mental-Health Buyer Unlikely for Bankrupt Firm's Charleston, W.Va.-Area Land
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Adelphia:

Adelphia Posts July Net Loss
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Adelphia Commun To Oppose Union's Request For Examiner
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Adelphia Commun: Raises Estimate For Potential Fees
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Adidas May Use Some Bond Proceeds for Top-Flite Bid
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Aladdin buyer moves to reject 29 contracts
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In DVI Bankruptcy, Asset-Backed Servicer Issue Still Key
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Aladdin resort lost $2.4 million in July
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Judge to rule on Fulton Bellows dispute Friday
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Anchorage tour company owes $800000 to its creditors
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Telecoms:

Genuity files plan of liquidation
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CWA Asks Bankruptcy Judge to Appoint Examiner To Investigate Adelphia's Labor Practices
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WorldCom to Adopt Breeden's Call for Separate CEO, Chairman
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MCI Bankruptcy Judge Sold AT&T Stake - 4 Shares - In Jan
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Oklahoma plans to file criminal charges against MCI, ex-CEO Bernard Ebbers and five other individuals
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A tough message to corporate America
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Monitor Lays Out MCI Governance Plan
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Rules for Worldcom May Set New Standard for Way Firms Governed
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Worldcom's Ex-CEO Facing Rap
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Investors would get more power in proposed changes for MCI
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MCI Report May Be A Hard Governance Example To Follow
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Okla. Takes Aim at WorldCom
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Unlimited executive power 'led to WorldCom fraud'
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Clean Sweep Could Help MCI Sparkle
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MCI Commences Tender Offer for Class A Common Stock of Digex, Incorporated
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TransForce Income Fund Successful in Bid to Acquire Canadian Freightways
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Airlines:

United Links Loss to Reorganization Costs
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Air Canada Unions Seek Equity for Their Concessions
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Airline pension deficit revised
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Air Canada Renegotiates Leases on 14 More Planes
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Air Canada Provides Update on Restructuring
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A 60-Year Credit Binge
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Fleming:

Now-prostrate Fleming Cos. flew too high, without a net
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Fleming Splits Wholesale Grocery Unit
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Melnyk guarantees Senators' future
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Magnatrax Gets Court OK To Start Bonus Plan For Workers
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Preservation of Mechanic's Liens In Bankruptcy Cases
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Economic Reports Point to a Rebound
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Wedding Photographers File for Bankruptcy Protection - Dozens of Couples Seek Photos
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Mortgage firm's demise is a signal: Close quickly
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Kaiser:

Jamaican mining officials ponder Kaiser's decision to sell out
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Six to carry out due diligence on Kaiser assets
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UPC cleared to emerge from bankruptcy protection
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The Relevance of the Robinson-Patman Act to Credit Professionals
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Legal Jockeying Continues in Buy-Back Effort for Malden Mills
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When the Show Doesn't Go On
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Banker sells bank secrets on ebay along with handheld
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Law Firms:

Giveback Time? - Those billion-dollar tobacco fees may not be a sure thing after all if John McCain and other Republican senators get their way
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First big U.S. law firm to offer its Web site in Chinese
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Which Specialties Command the Highest Rates?
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When Culture Clashes with the Bottom Line
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How Much Can You Tell Your Lawyer?
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Law Library Technology and Trends
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Energy Clients Scramble for Counsel
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Branch Offices: Risky Business or Significant Opportunity?
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Beyond Partners Funding - Is the world's largest firm redefining the business of law?
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Two Partners, Seventh-Year Defect to Bingham
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In the crackdown on abusive tax shelters, one firm's name keeps popping up
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Prevent turf wars over law firm Web site projects
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Renegotiating Leases - The Good, the Bad and the Ugly
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The most important challenge in technology is managing the transition from "Eat What You Kill" to a model founded on collaboration
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Mopmaker O-Cedar files for bankruptcy
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Housing's Threshhold of Uncertainty - a gentle cooling to a burst bubble?
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Mego Financial's Creditors Question $8M DIP Ruling
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Oakwood Homes Lowers DIP Loan Availability To $90M
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Shareholders put pressure on boards
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Why the Recovery Finally Looks Real
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Collier Bankruptcy Case Update

England:

British Banks Anticipate UKpound 1 Billion Bankruptcy Windfall
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Comedian Davidson "faces bankruptcy"
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Canada:

Canada's Big Banks Boost Profits As Loans Improve
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Singapore:

Bankruptcies heading for an 18-year high
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Japan:

Japan set to bail out Mitsui Mining
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Investment Firm Set to Take Over Nagasaki, Japan, Theme Park
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Japan corporate rescue body set for modest start
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