December 1, 2003 

Daily Bankruptcy News

Brought to you by BKINFORMATION.COM - The Source for Business Bankruptcy Information on the Internet 

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Enron:

Tuesday auction for Enron headquarters
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Credit Suisse cited as Enron dealer
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Enron Prosecutors Focus on Smaller Participants
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Enron Heat Descends On Smaller Players
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Report Criticizes Enron's Attorneys
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CSFB Called An 'Enabler' Of Enron Fraud
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Spain's Gas Natural buys Enron assets in Brazil
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In Recent Fraud Cases, Guilt Is Relative
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Nevada Power testing the waters for Enron-driven rate hike
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Some companies trying to outsmart new rules
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TD kept lending Enron money
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Banks deserve a share of Enron blame
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Law:

Outsourcing basic legal work gains ground
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Lawyers Gear Up for Suits on Tax Shelters
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Helter Shelter
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Senate demands probe into law firm tax shelter ‘scam’
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Top Firms' Growth Slowed in 2003 And Associate Ranks Declined
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Firm's leasing plans could have big ripple effect
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Law firm internet portals
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Business generation focus of Goodwin restructuring: Law firm's new structure codifies franchise-building for partners and associates
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Unnatural Selections - Do firms with in-house marketing executives really want what they seem to be buying?
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Firm cuts 30 in post-merger redundancies
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Partners rail against drive to force businesses to end long hours culture
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Law firm sued for settling too often
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Decision time for Morgan Lewis: To bail or not in Northern Va.
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Firm scraps managing partner poll
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Team Players - A feud between two firms representing scandal-ridden HealthSouth -- sheds light on how some internal corporate investigations are more about PR than fact-finding

The e-mails that brought the feud to light
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White & Case quits merger hunt
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Billable lives: Finding time for what's important
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Haskell Slaughter adds most of London & Yancey
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Asbestos:

Lawyer says ABB asbestos appeals could drag on
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Asbestos victims deserve trust fund
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Reprieve for asbestos producers
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Steel:

Bush to End Steel Tariffs
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After the big U.S. steel meltdown
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Bush is expected to end U.S. tariffs on imported steel as early as this week
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Bayou Steel files reorganization plan in bankruptcy
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Weirton Offers New Labor Contract Proposal
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Republic hopes for another chance
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Special Metals Corp Emerges From Bankruptcy
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Icahn again leads Philip exit
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Steelmaker Ivaco reports steep quarterly loss
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Atchison Casting union OKs changes, clearing way for sale
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You Can't Sell What You Don't Own -- Can You? - A bankrupt consignment shop in the Hamptons is ordered to sell off other people’s stuff to pay its debts
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Credit reform bill has lots to like for buyers and refinancers
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Telecoms:

MCI Tries for a Comeback
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Adelphia Comes Clean
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Jackson's finances a mystery
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Lavish lifestyle costing Jackson a pretty penny
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Jackson 'forced to borrow from assets'
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The Age Of No-fault Debt
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Letter from Delaware - A new corporate disclosure rule, committee loyalty at Armstrong World Industries, Comm South trustee looks for creditors
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Chi-Chi's becomes tougher sell
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Investors sue lawyers, accountants of collapsed Thaxton Group
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  Airlines:

Strong Economy Could Be Downer for Delta Airlines
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UAL Aims to End Bankruptcy
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Omaha, Neb., Airport Rejects United's Debt Payment Proposals
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Hawaiian Air wants millions returned - $28 million from former Chairman
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Former Hawaiian Air chairman says will seek vindication
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Investors reap windfall with America West stock
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Airline saga highlights liability puzzle
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Li bid guaranteed seven top exec spots
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Cerberus strives for better deal - for itself
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Second Cerberus bid possible
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Key Air Canada director O'Brien leaves at critical point
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Air Canada sinks into the red in third quarter
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Court to decide on Air Canada's equity bids Dec. 8
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Li expects 'aggressive' measures at Air Canada
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Li's deal with Air Canada calls for end to feuding between two pilot unions
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Cerberus rebuffed Li's equity offer
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Air Canada says needs C$4 billion to renew fleet
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New York fund advised by Brian Mulroney may get chance to bid for Air Canada
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Bankruptcy Reform:

The Senate adjourned without addressing the continuing resolution
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Restaurant Chapter 11 Filings Increase in Short Order in '03
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Colorado's lax laws attract ID thieves
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Energy:

NorthWestern balks at alliance's proposal
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S&P comments on NorthWestern Corp.
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Commissioner wants task force to study NorthWestern options
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Bad credit pushes energy traders to new risk tools
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Debt Assumption Makes up Bulk of Texas Pacific Group's Bid to Buy PGE Utility
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Accounting:

Sarbanes gives accountants marketing opportunities: Some wonder if there is enough skilled personnel to meet expected demand
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Sarbanes-Oxley reaches into private companies
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Companies reject need for audit fee hike
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Corporate Reform:

CEOS of the future get formal training to take giant leap
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Criticism turns to dual roles, conflicts of interest at the top
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Dodgy donors embarrass scholars
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Nothing but the best until CEO got ousted
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CFS: Deliberations to Resume in Tulsa, Okla.-Based Collections Firm Fraud Trial
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Turnaround firm after opportunities
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Filings for bankruptcy a surprise
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Eastern Michigan posts third highest increase in bankruptcy filing
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DIP dimensions: Sonic Telecommunications
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Why Americans Must Keep Spending
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More seniors facing high debt, bankruptcy
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CD Micro files for bankruptcy
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PhyAmerica Gets Court Ruling on Asset Sale (BW)
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Losing your way financially doesn't mean losing it all
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Samueli may covet hockey's Ducks
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Vanguarde troubles cost 80 their jobs
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Credit outlets repair image
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Austin: Bradley refutes allegations
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Tuition, credit cards keep students in debt
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National Century Financial Enterprises Announces Plan Settlement
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Federal Agency to Take Over Pensions for Bankrupt Big Bear Grocery Chain
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Property Abandoned Despite Tax Burden on Debtors

GNP trustee sues 13 suppliers for return payments
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AMF Agrees to Buyout
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New Bankruptcy Opinions
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Law firm suing law firm over DeLorean fraudulent transfer property transaction
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Retailing:

Cutthroat holidays cheer toy shoppers
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'Tis the season to plunk down plastic
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Debtor nations need a financial system that allows them to work their way to prosperity
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Patients bundled into cold night as Deaconess shuts its doors
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Deaconess Hospital closes abruptly
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New chief bankruptcy judge for ND GA
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Cleanup duty - As the megabankruptcy hullabaloo has quieted, post-confirmation and middle-market insolvency work has thrived
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Lawyers Say Fleming Wants To Keep Convenience-Store Unit
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Investors Toughen Deception Lawsuit against Carmel, Ind.-Based Insurer Conseco
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Conseco continues tradition of big pay
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Kaiser Has Bids for Some Assets
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GenTek firm emerges from Chapter 11
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Plan to revive Lexington Fabrics making progress
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Erpenbeck Investigation
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Big Spending Led to Suspicion of Scheme Targeting Ministries
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Alterra: Court OKs Reorganization Plan
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UK:

Bank of England to appeal BCCI privilege judgment
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Fears over new bankruptcy laws
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New levy for bankruptcy protection
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Pension fund for firms that go bust
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Money to burn
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Half of U.K. Soccer Clubs Facing Bankruptcy
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Administration or bust: can football's fallen giant make it past half time?
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Dundee forced to sack 15 players
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Norris company faces bankruptcy questions
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Britain to tighten accounting standards post-Enron
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Japan:

Nikkei soars after bank bailout
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Ashikaga Takeover Marks Switch to Aiding Local Banks
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Japan Set to Clean Up Small Lenders
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Governor lays blame for collapse on auditor
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Japanese Bank to Inject $1.9B Into Market
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Tokyo to seize control of ailing bank
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Japan faces up to banking reality
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Kojimachi Tochi Tatemono Bankrupt; Y237 Billion Group Debt
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Australia:

Pasminco bid stays alive
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ASIC widens probe into Kaye business collapse
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Canada:

Local bankruptcy lawyer launches book on controlling debt
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Doman says court to hear bid on labor pact
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Sale of Assets of Betacom Corporation
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Striking union, coastal forest firms tussle over status of Doman Industries
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Fraud teams target corporate crooks
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Failed CBL pitching its assets
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Korea:

The House of Cards - South Koreans went on a credit-card spree. Now consumer debt and bankruptcies are dragging down the economy
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Surging Credit Delinquency Poses Socioeconomic Dilemma In Korea
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LG Card's Pipe Dream Leaves Workers Heavily in Debt
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S.Korea's LG Card Seen Target of GE Bid
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Korea SK Networks Files To Withdraw HK Unit Liquidation
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Thailand:

Thai TPI Creditors Won't Call Default On Unpaid Interest
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Mexico:

Satmex still has no agreement with creditors
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