August 4, 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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Tyson:

Heavyweight debts force Tyson into bankruptcy
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Tyson: I've blown 200m
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Tyson's finances down for the count
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Tyson bankruptcy merely Round 1 in battle vs. King
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Tyson, Blaming Others, Files for Bankruptcy Protection
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Bankrupt brawler
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KO for Tyson's finances
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Debts KO big-spending Tyson
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Tyson has earned more money than any other boxer
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Euro Disney down in debt dumps
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When old credit-card debts come back to haunt you
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Accounting:

Dodging reality of future's costs
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PWC partner top pick as SEC chief accountant
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Accounting industry still absorbing blows
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Grant Thornton looks to tale bite out of Big Four firms
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Declines in salary increases raise ire of accounting boss
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Sarbanes-Oxley ushers in new era for internal controls
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Throwing the book at Hamilton Bank execs
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Debt Buyers Live Off Consumer Woes
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Hawaii: The state accepts a schedule for the duty-free company to pay past due rents
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Edwards friend oversaw bankruptcy estate case
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Conseco:

Judge delays Conseco decision
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Conseco Judge: 'A Lot Of Work To Do,' Conseco Atty Says
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Safety-Kleen says court approves plan
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Maintaining the Integrity of Internal Probes - Enron and Global Crossing offer valuable lessons to corporations
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Steel:

Beth Steel buyer, ISG, plans to raise $250 million in IPO
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Steely resolve needed to cure the troubles at Stelco
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Wheeling- Pittsburgh now out of bankruptcy
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Bankrupt Weirton Steel Names New CEO
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Banks Give Steel Firm Corus Third Chance at Turnaround
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Telecoms:

Bankrupt Com21 to sell assets to Arris
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Telecom Firm Onvoy Names Whistleblower
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Cingular and NextWave close to spectrum deal
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Despite pork flap, Farmland offers reorg plan
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Ross wins Burlington, but loses break-up fee
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Burlington spends millions on bankruptcy
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Bankrupt Alliance Communications sells cable systems
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Pillowtex:

Liquidating Pillowtex assets falls to specialized alliance
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Workers Hit Hard by Pillowtex Bankruptcy
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Liquidators want Pillowtex
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Farmland:

Farmland liquidation to pay back $1 billion-plus
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Farmland Plans to Sell Remaining Assets
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Magellan Health Services Secures Commitment for Refinancing of Senior Secured Debt
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St. Louis' Push for New Development Could Upset Bidding for Bankrupt Casino
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SSG, others see growth due to slow economy
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Termination fees growing; more landlords take payoff
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Hero CEO Fights Textile Firm's Unraveling
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Investor group's Breezy Point hotel files Chapter 11
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No Tax Exemption for Pre-Confirmation Transfers
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Telecoms:

Was MCI Phone Routing Illegal, or Simply Complex?
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MCI Reportedly Finds No Improper Routing
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MCI Can Weather the New Storm
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Credibility of Witness Is Challenged in MCI Inquiry
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Cingular denies NextWave's deal claim
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NextWave: Airwave Rich but Cash Poor
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For whom the feuding bells toll
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NextWave deal comes and goes
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A year has elapsed since investors learned of the massive accounting fraud at MCI. But the company continued to be awarded government contracts until last Thursday when it was suspended. What took so long?
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WorldCom Rivals Seen Grabbing Some Gov't Contracts
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Com21 Announces Asset Sale Hearing, Overbid Deadline and Chapter 11 Deadlines
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Companies are struggling to meet their pension-plan obligations, and Washington is starting to worry. How your retirement plan could be at risk
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Is The World Economy Teetering On The Brink of Deflation?
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Enron:

Banks to pay $255 million to victim fund
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Banks pay huge price for a ride with Enron Banks pay huge price for a ride with Enron
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Upcoming Enron books aim to reverse track record
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Gas Natural finds bargain in Enron rubble
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Chronicle asks for transcript of conference
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Bill Bans Portland, Ore., Condemnation of Enron-Owned Utility
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First tenant poised to lease space in empty Enron tower
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Airlines:

UAL Still Mum on Reorganization Plans
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Swiss airline looks for merger
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Wage costs down but still no profit at UAL
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Analyst says feds should relax ownership restrictions to help Air Canada
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The Hot Air under Airline Stocks
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Air Canada Debtholders To Push For Greater Input
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Hawaiian Holdings still contemplating decision on stock
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UAL reports $623 million loss
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Air Canada hopes to have new investor by Sept. 26
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The global airline industry is beginning to see a rebound in passenger traffic
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Northwest to Wait on Buying Back Stock
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Reorganization costs double UAL's loss
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UAL posts a loss despite government aid - Aug. 1, 2003
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Creditors battle Air Canada for seat at table
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Air Canada to choose investor
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Law Firm:

A success story's fall from grace / S.F. lawyer, accused of stealing millions, may lose everything
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Holland & Knight plans exponential expansion
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Woman Remembers 50 Years As an Attorney
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Lawyers star in new ads from top-drawer firms
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Debate swirls on SEC rules for lawyers
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LeBoeuf law firm closing Denver office
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High-profile attorneys join Charter defense
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Arter & Hadden lawyers landing new gigs
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Warfield wooed to Blackwell as bankruptcy practices grow
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Minority legal hiring rises
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Changing practices drive new look for law firms
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Dallas-based law firm hanging out its shingle in San Antonio
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Rigas Family Can Use Cable Cash in Court
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New Bankruptcy Opinions
(No new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Energy:

US energy group targets UK power plants
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FERC Extends Period For Reviewing NRG Rehearing Requests
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Energy firms expected to implement more layoffs
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Hope for voucher victims of crashed car rentals firm
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The Cost of Exoneration
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Pillowtex's Decision to Close Plants Leaves Workers Stranded
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Grim U.S. jobless picture knocks stocks down
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Asbestos:

The New Asbestos Bill, Part Two: Why This Crucial Legislation Is Facing Huge Obstacles
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Permission slip
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State to sue workers over failed asbestos claims
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Travelers wins asbestos ruling, its shares jump nearly 6%
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Corporate Reform:

Look Out, Aiders and Abettors
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Sarbanes-Oxley becomes an excuse
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The good, the bad, and the Sarbanes-Oxley
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The SEC will view defendants who agree to injunctive orders as essentially having admitted to charges
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Cash-Balance Plans Hang in the Balance
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HealthSouth cooperates to avert Fed indictment
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Backing Lehman, Judge Rules Against First Alliance Claim
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Burlington execs' fate up in the air in wake of auction
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Bankruptcy Court orders probe into ties between firms
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Dade Behring Stock Surges After Ch 11
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Magellan Health Gets Financing
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Global Crossing Seeks Court Approval Of $100M In Funding
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England:

NTL chief set to sell $1.4m shares
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AES writes off 1.8bn as it hands over Drax power station to its creditors
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Broke shoppers hit Brown
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Rise in bankruptcies fuels household debt fears
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Telewest refinancing 'near' as subscribers keep quitting
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We've shopped. Now we're in for a drop
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Korea:

Hyundai Chief Chung Found Dead; YTN Reports Suicide
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Canada:

Boatful of woe for Argonauts
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Germany:

Billionaire makes a new offer for KirchMedia
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Australia:

Table Eight creditors to get 10c in dollar
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China:

State-owned Enterprises Bankruptcies Planned
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Thailand:

Thaksin to crack down on corporate debtors
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South Africa:

Nowhere to hide now in insolvency hearings
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France:

Alstom in Negotiations to Refinance Debt, Find Cash
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Poland:

The Bad Debt Game
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