February 19, 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

         
Counting the costs of bankruptcy
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Chief Colorado bankruptcy judge dies
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Divine:

Divine Inc. Weighs Filing Chapter 11
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Divine Message in Divine's Mess
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Divine hires adviser on business strategies
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Shareholder Objects To Former Polaroid's Exclusivity
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Accounting:

Goodwill write-downs may reach $200 billion
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KY Insurance Commissioner as Liquidator recovers $23 million from Deloitte & Touche for the Kentucky Central Life Estate
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SEC chairman sworn in
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Don't quibble over salaries!
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New SEC Chairman Promises Accountability
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Deloitte Elects Partner as Chair
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Ernst & Young Turnaround on Stock Options Irritates Technology Firms
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Micron Technology Cutting 10% of Jobs to Reduce Costs
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UPC says bondholders back Chapter 11 plan
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Law Firms:

Brobeck: What a Difference a Day Makes
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NY Offices Hire Former Brobeck Partners
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Brobeck's Biggest Client Taps New Firm
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Law firm takes from Schnader for D.C. office
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Wilmer Cutler signs massive Pa. Ave lease
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Verdicts 100
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Weil Gotshal and Ogletree Deakins target Texas
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Rents Are Heading Down
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Judge Seizes Oklahoma City Job Firm's Assets for Offering Unlicensed Insurance
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Energy:

Reliant negotiates extension on $2.9 billion loan deal
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Reliant: Added Time to Review Restructuring
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PG&E plans new equity offering
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El Paso shareholder launches battle for control
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Venus Exploration's Number Two Executive Steps Down As Company Battles Involuntary Petition
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Telecoms:

Globalstar lines up DIP
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Telecom's Downturn Spurs Another Sector
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The FCC's Great Telecom Tussle
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U.S. resists Global Crossing sale
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Ntelos Misses Interest Payments While Trying to Restructure Debt
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Crash of Nortel Networks Turns Dream Jobs into Nightmares
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Cheapo owner files Chapter 11
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Key3Media Seeks Approval For Retention Plan For Execs
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IntelliCorp Announces Confirmation of Plan of Reorganization to Emerge From Chapter 11
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Pallet Management File A Voluntary Petition For Chapter 11
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Lehman Disputes Charges About First Alliance
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eSynch completes buyout of Nacio Systems
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Valley Media Seeks More Time To File Exclusive Ch 11 Plan
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  Airlines:

Local, United leaders to meet
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UAL, creditors panel settle over depositions
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How to cure airlines’ ills
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Despite snow, US Airways bankruptcy plan still on track
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United pins hopes on new airline
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Air Lib in liquidation
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Airlines Take Financial Blow from Storm
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Hawaiian, pilots agree in principle on wage concessions
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Airlines Warn of Fallout in Case of Iraq Invasion
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Stranded? Get a Refund. Or a Reservation.
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Great Northern

Judge Clears Path for Belgravia to Buy Great Northern
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Company bidding to buy GNP heads back to bankruptcy court
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Personal bankruptcies hit record in South Florida
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Aircraft:

The other aviation bailout
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War No Salve For Aircraft Industry, Experts Say
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8 million credit cards at risk after breach
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Asbestos:

ABB unit files voluntary Ch. 11
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Halliburton gets further stay for asbestos cases
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ABB up 19.4%
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Asbestos worries to overshadow Hanson results
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EPA will relent, warn public about asbestos in insulation
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Steel:

Baker Reaches Settlement on LTV Litigation
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LTV Corp. by WL Ross & Co.
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Weirton Steel Will Ask Retirees To Help Struggling Company
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Steelworkers Approve ISG Labor Agreement
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LTV Corp. Asks Bankruptcy Court for Sixth Extension
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Judge Approves Sale of Mill by Laclede Steel to Alton Steel
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WL Ross Eyes IPO For Steel Platform
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Boots & Coots:

Boots & Coots discloses possibility of Chapter 11 filing
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Boots & Coots gets $1 million loan
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Boots & Coots Updates Notice of Default, Possible Prepack
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Adelphia Founder Wants Pay Plan Nixed
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Oakwood Homes Corporation Finalizes DIP Facility
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Wall Street Public-Relations Chief Navigated Corporate-Ethics Nightmare
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Farmland:

Farmland Industries OKs Deal With Koch
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Selling the Farmland
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Co-ops resigned to Farmland losses
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Fort Worth: School contractor files personal bankruptcy case
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Memphis: First Tenn. Bank Building owners file for Chapter 11
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Jobs 871 Jobs - Last Updated February 3, 2003
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Bankruptcy Judge With Odd Rules Steps Down
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Enron:

The real lucky duckies
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Four defendants want Enron decision overruled
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State Sues Enron for $10 Million
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ISYS Search Software Helps Bankruptcy Litigation Counsel at Lionel Sawyer & Collins Search and Retrieve Thousands of Documents in Record Time
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Ch. 11 Is Latest In San Vicente Battle
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Hockey:

Chartwell Skates Out Of Sabres Deal
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Predators Turn Prey in Lending Laws
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The myths of hedging
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SDNY business bankruptcies fall in fourth quarter
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RFS Ecusta:

Ecusta mill sale dashes workers' hopes
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Owner's nephew top bidder for RFS Ecusta paper mill
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Hayes Lemmerz files plan of reorganization
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England:

Lawyer admits stealing £500,000
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Canada:

Dealers want SWAT team to fight white-collar crime
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Shift magazine publishes its last issue
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Spain:

I'm One El Of A Debt Collector In My Kilt
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Malaysia:

Strip, Snap And Blackmail Case: More debtors victimised
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Debt ceiling for bankruptcy to be raised
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Germany:

Blimpmaker may get lifeline
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Deutsche Bank chairman loses Kirch confidentiality ruling
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Deutsche takes another Kirch knock
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Japan:

Japan TSE to allow firms in bankruptcy proceedings to remain listed
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Japan's biggest golf course operator goes under
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Banks top up their capital from a poisoned chalice
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Stakes are raised for Japanese life assurers
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Goldman fights Lone Star for bankrupt golf assets
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Korea:

South Korea's Default Rate, Corporate Bankruptcies Fall
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Czech Republic:

Caught in a web - Number of bankruptcies continues to climb as government's reform plan stalls
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