December 16, 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

         
FAO:

FAO Schwarz still in the game
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The Fun Ain't Over - Yet
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FAO lease could hold allure
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CART:

CART board votes to accept buyout
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CART series will file for bankruptcy protection
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Steel:

Tariffs shift Nucor fortunes
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Algoma Steel, twice restructured in bankruptcy court, still challenged
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DDi Corp. Announces Share Capital And Distribution Rates
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Raymond J. Miller Joins Renaissance Partners
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FTI Consulting Hires Gregory F. Rayburn - Interim Management Specialist
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Telecoms:

MCI Issues October 2003 Monthly Operating Results
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MCI October net loss widens from September
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Onex unit to buy Rohn's tower operations
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MCI WorldCom to Emerge from Bankruptcy, Existing WorldCom and MCI Shareholders Shares to be Cancelled
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Worldwide Wireless Files Motion to Amend Plan of Reorganization
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Oklahoma City-Based Long-Distance Provider Files for Bankruptcy
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Lightyear, US trustee team up
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Judge Allows Del Monte To Buy Agway Country Products Unit
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Law:

Florida Bar Hits David Boies With Ethics Complaint
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Bar files ethics charges against lawyer
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Why law firms predict a boom in business for 2004
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Freshfields split over ‘London imperialism’
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Milberg's Breakup Isn't a Quickie
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Judges Say Democratic Official Issued List of Favored Lawyers
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Clifford Chance-Brobeck showdown intensifies
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The heirs of Allen - Weil Gotshal’s grand plan may have died – but it launched dozens of careers
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The Legal Profitability game
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ABA Study Shows Fewer Cases Going To Trial
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In-House Counsel Provide Tips for Structuring Preferred Provider Relationships with Law Firms
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Paul Hastings, Moquet Borde: almost merged
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Jones Day swoops on Pennie & Edmonds
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Former Tobacco Lawyer Says Firms Only Expected To Receive $50 Million
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Clifford Chance appoints interim finance director
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Debt collector banned from Bay State
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Philadelphia-Based Lender Seeks to Ease Cash Crunch
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  Bankruptcy Sales: The Stalking Horse
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Ducane Gas Grills files bankruptcy
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Enron:

Fastow's team will use survey in bid for venue change
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Supreme Court to Hear Cheney Energy Case
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Airlines:

Hawaiian Airlines Sues Ex-CEO To Recover $28M
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Air Canada restructuring 'derailed'
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Victor Li Says He May Amend His Air Canada Investment
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Li may sweeten bid for stake in Air Canada
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Creditor concerns ground AirCan pact
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Trinity wants its next bid to be the last
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US Airways Group stock struggles, hitting new low
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Major Carriers May Not Survive Growing Pension Debt
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Air Canada Monitor Concerned About Confidentiality
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Tax Fight Could Trigger A Move By Midwest
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Asbestos:

Business, Bush Look for Lawsuit Limits in 2004
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Jury Awards $1.7 Million In Asbestos Suit
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Energy:

California Panel Set to Consider PGE Settlement
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Surprise deal may help end two years of PG&E bankruptcy
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Approval seen for PG&E bankruptcy plan
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El Paso May Sell Up to $3.9 Bln in Assets to Cut Debt
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NWE: No new plan for PSC soon
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Mirant expects flood of claims as deadline nears
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eClickMD reorganizes under Chapter 11
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BofA in Cone Mills credit agreement
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Court Permits American HomePatient's Rejection of Warrants Held by Lenders
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Creditor Protected in 'Ordinary Course of Business' Transactions
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Horsehead Sale to Sun Capital Affiliate Approved by Court
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Foreign buying of US corporate bonds nears record
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Hospital suitors must vault stalking horse
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The Equal Credit Opportunity Act: Spousal Guarantees and Releases
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EVTAC reopening makes room for 65 new rail jobs on Iron Range
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Is C.O.D. Really "Cash on Delivery"?
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Gaming Board OKs auction of Emerald license
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Life Insurance Valuation Unearths Hidden Value

Judge rejects Adelphia challenge
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"Critical" Vendors Considered on a Claim-By-Claim Basis, Court Rules
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25-year-old Supreme Court banking case still oozing news
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New Bankruptcy Opinions
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Accounting:

FASB set to move towards int'l rules
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U.S. Audit Board Readies Inspections of Big Four
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Corporate Reform:

Public Cos. Going Private Increases 30 Percent
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HealthSouth Announces First Phase of Board Transition Plan
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Trustee to Actrade: Post a bond
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Reconsidering a Personal Guarantee as a Credit Enhancement
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No Surcharge for Secured Party That Miscalculated Value of Its Lien Position
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Substantive Consolidation: Maximizing Recovery?
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Preference Recoveries, Who is to Benefit?
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Must the Vendor Provide Expert Testimony to Prove up the Ordinary course of Business Preference Defense?
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UK:

Current Distressed Companies Update
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Reforms may limit directors' liability

Outlook Remains Negative as U.K. Life Insurers Push for Recovery in 2004
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Canada:

Senate Committee Recommends Bold Insolvency Law Reforms
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China:

New bankruptcy laws target directors, accountants
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Statute Issued to Regulate State-owned Assets Transfer
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Australia:

Elliott faces bankruptcy
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Australian Government Moves To Strengthen Bankruptcy Laws
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Tas ferry operator placed in administration
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Bankruptcy law changes planned to nab tax cheats
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Kaye seeks no-sue, $90,000 pay deal
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Kaye cuts a deal but some don't buy it
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Japan:

Goldman Faces Driving School Loan Protest in Japan
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Lenders' seedy side could turn foreign stomachs

Japan's Kubota Golf Course Unit In Court Rehabilitation
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Korea:

Creditors set to take over LG financial units

S.Korea's LG Group may exit card, brokerage units
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Italy:

Parmalat CEO Resigns, Is Succeeded by Turnaround Expert
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Parmalat Chief Calisto Tanzi Resigns
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