December 10, 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

         

Telecoms:

Global Crossing Exits Ch. 11 With 'Incredible' Asset
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Global Crossing Exits Bankruptcy After Two Years
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Global Crossing exits bankruptcy, not woods
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Globalstar Latest LEO Constellation To Get Bought Out For A Song
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HomeGold asset sale nets less than hoped
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Accounting:

Deloitte's Bermuda Affiliate Agrees to $32 Million Settlement
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PCAOB puts non-US proposals out for comment
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Big Four want clearer US guidance
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SEC v. KPMG: An Interesting Twist
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Conseco:

Conseco sues more former company officials to recover debt
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10 former Conseco execs now targets of lawsuits
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Woodworkers Warehouse:

Woodworkers Warehouse Lists Largest Unsecured Creditors
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Store bankruptcy prompts attorneys general to act
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Corporate Reform:

Scrushy Attorneys to Seek Repeal of Sarbanes-Oxley

Help Wanted: Board Directors
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Asbestos:

Asbestos victims need better deal
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Body Solutions to pay $450,000 for bogus claims
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Courts Typically Give Broad Interpretation To Insolvency Exclusion, Reflecting Its Expansive Terms
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College president banned in Md.
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Cincinnati: Fiorini files for bankruptcy
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OSI Emerges from Chapter 11 with Strong Balance Sheet and Credit Facility from Merrill Lynch to Support Portfolio Purchasing
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Judge Says GMAC Engaged In Unlawful Collection Practices
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Sales of Collateral in Bankruptcy
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Couple Awarded $940,000 For Credit Report Mistakes
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Developments Concerning Minnesota's Homestead Law May Have You Looking For New Neighbors
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Ruling leaves ABIZ set to exit
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Plan to auction casino license might not happen
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Aurora Foods: Final DIP Loan Hearing Set For Jan 9
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How Commercial Landlords Can Position Themselves To Deal With Current Market Conditions
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40-year legacy haunts The Barnes multi-billion dollar art collection
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Airlines:

UAL Prepared to Reapply for Federal Loan Guarantee
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UAL to Reapply for Loan Backing Despite Pension Woes
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United Airlines' exit financing pact near
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UAL Taps J.P. Morgan to Lead $2 Billion Loan Underwriting
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Senate Puts Off UAL Pension Relief Action
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US Air Drops Expedia In Booking-Fee Tiff
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Delta Air Lines Works to Restructure Successfully
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Judge defends choice of Li
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Final approach for Air Canada equity deal: union doubts Cerberus can bump Li
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Air Canada told to look at bid fairly
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Enron:

Directors still have hands in till says Enron whistleblower
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Enron's creditors want hold on legal fees
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Linc Corporation Joins New Linc Group as Part of Management-Led Buy Out
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GI Partners gets Enron unit
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Steel:

Judge OKs WCI key worker retention plan
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Steel mill wants to sell stock of ore
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Steelmakers' biggest worry: China
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Sanford cemetery sold at bankruptcy auction
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Bankrupt 80s celeb to star in sitcom based on his life
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Lender With Purchase Money Security Interest Can Trump A Seller's Purchase Money Lien By Perfecting First
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Law:

Top partners continued to enjoy big paydays as firm faced tough times
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More Brobeck Fallout
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NY bonus battles: Cravath sticks to its guns
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Cravaths unveils 2003 bonus
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Women's pay gap widens in some fields, including law
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Firm Unveils Next Generation of Award-Winning Web Site
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South Carolina Law Firm to Absorb North Carolina Firm
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Key Steps to Ensure Recruitment Systems Deliver as Promised
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The human element
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How to Limit Your Firm's Exposure to Employee Lawsuits
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What disturbs board members the most? - Lawyers
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Law Firm Compensation and Benefits Offerings
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Client Relationships And Legal Malpractice
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New Bankruptcy Opinions
(3 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Energy:

NWC writes big checks on eve of bankruptcy
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Transfer Of PGE Power Plants To Citibank Postponed Again
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Stadium to keep name as legal issues play out
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Vote on Ailing Hospital Delayed
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UK:

Leeds Confirm Takeover Talks
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Cancer charity 'wound up'
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Battle Starts for U.K. Home-Loan Victims
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Appointment of a Bankruptcy Registrar - Peter Sydney Aubin
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New law `will lead to more going bust'
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Germany:

Deutsche Bank Liable for Damages to Kirch For Contributing To Insolvency, Court Says
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China:

China's Factory Production Grows a Record 18 Percent - Bankruptcies May Increase
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Canada:

Imperial PlasTech reports plan of compromise or arrangement sanctioned by court
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France:

Raffarin takes responsibility for Executive Life affair
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U.S. prosecutors rebuffed a $180 million payment offer by France's Francois Pinault to settle the Executive Life fraud case
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French Left Demands Executive Life Probe
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Banks pressurise Rhodia over refinancing
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Italy:

Parmalat moves to win urgent bank backing
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Argentina:

Creditors unite to seek better deal on Argentine debt
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New Zealand:

Austral still trading despite unit in liquidation
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Designer Nicholas Blanchet's company placed in liquidation
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Australia:

Ex-Ansett employees get more cash
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Korea:

LG Card Stock Sale Set to Raise Less Than Targeted 300 Bln Won
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Netherlands:

Dutch Release Corporate Governance Code
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