February 6, 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

         
Airlines:

Flying High on Chapter 11
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United wants better route profitability
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United wants out of costly plane leases
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Air Canada braces for deep job cuts
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Flight attendants slam United for management retention bonuses
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United Talks With Unions About Low-Cost Airline
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United details recovery plan
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UAL Had Op Loss $7.2M/Day For First 3 Weeks Of Bankruptcy
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Midway to get 2 new airplanes, after opposition
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Whirlpool sucked into United vortex
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Ailing Delta cutting executives' pay, plans to review pilots' pay
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Small jets buy carrier time
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Delta May Move for Talks With Union to Cut Pilot Costs
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American action boosts Vegas airline layoff total
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Air Lib on brink of bankruptcy as talks fail
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Frontier scrambles
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DIP Dimensions: Conseco Inc.
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Creditors Can File Plan To Liquidate Lernout & Hauspie
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General Development Corp. - After rising and falling, an unceremonious end
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BCP cleared to liquidate
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Barnhill sale hinges on judge
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Accounting:

Neutral ground
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DTI's audit reforms wont end predatory culture of firms
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KPMG's Rake takes paycut to 1.6m
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Accounting Oversight Board Holds Second Meeting
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Big Firms Test SEC's Tolerance For New Audit Opinions
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Johnston Industries gets DIP
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Energy:

FirstEnergy Corp. Seeks Arbitration From Bankruptcy Court
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Seven Seas Petroleum Gets Nod To Sell Assets Of Units
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Neb. Monument Reaches Deal With Creditors
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Asbestos:

Law and Business Groups Face Infighting on Asbestos Litigation
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ABA Confronts Asbestos Lawsuit Limits
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Talks Held in Bid to End Asbestos Suits
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Elite Restaurants Are Resorting To Discounts -- Under the Table
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Chicago fire
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FTI Consulting Announces Common Stock Offering
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Focal gets OK to keep financial advisers
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Bush's Budget Proposes Use of Private Debt Collectors
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Consumer Spending, Debt and Bankruptcy
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Advanced Lighting in bankruptcy
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Steel:

ISG bolsters its BethSteel bid
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Trustees, EPAs Fight Wheeling-Pittsburgh Plan Statement
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Bethlehem execs agree to sell assets to ISG
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Bethlehem managers favor deal
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U.S. Steel Won't Attempt To Top Bid for National Steel
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Conseco woes go beyond bankruptcy
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Debt be not proud: Only account holder is liable
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Key3Media wins interim DIP approval
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GenTek Seeks Court Approval Of DIP Loan Pact Worth $60M
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Enron:

Second Plea By Enron Energy Trader
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Enron trader manipulated Californian power market
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Can Enron Change the Energy Business?
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Charleston, S.C., Medical Technology Firm Lays Off Most Workers
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Hockey:

The game that never ends: Bryden, creditors ponder details of Sens offer
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Bryden's wait could end today
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Probex Reports Several Developments Affecting Its Financial Condition
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Borden Chemicals Wins Confirmation of Liquidation Plan
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G-Zone Enterprises Has Retained Keen Realty in Chapter 11 Proceedings
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Coram Is Battleground For 'Vulture' Investors'
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Tokheim:

Tokheim Seeks Court OK To End Employment Deals
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Tokheim contests severance
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SAP Brags of Winning Clients in Bankruptcy
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Construction giant files bankruptcy, plans to move
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Ocean Journey:

Tax may hurt deal for Ocean Journey
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City to seek foreclosure on aquarium-owned land
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Troubled aquarium could sell to Ripley's
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New Bankruptcy Opinions
(3 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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Letter from Delaware: Photo finish
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Illinois sues AmeriDebt, calls fees excessive
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Franchiser AmeriKing DIP still in doubt
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Law Firms:

Most at Brobeck Will Be Gone by End of Month
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First Brobeck Partner in New York Finds Refuge
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Brobeck Practice Group Finds New Home
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Clifford Chance in frame as rivals feast on carcass of fallen Brobecks
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A&O probes US lawyers' pay
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White & Case embarks on hunt for New York merger
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Some of Defunct IP Boutique's Attorneys Land at Other Firms
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Malpractice Claims Against Pennie & Edmonds Can Proceed
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Attorneys Can't Sue New Counsel of Former Client for Portion of Fee
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Duty of Loyalty Continues After Client's Death
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Dorsey & Whitney expands London office
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Sidley Austin Brown & Wood adds nine from Skjerven
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Corporate Reform:

Donaldson vows action on oversight board
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SEC Nominee Faces Relatively Light Questioning
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Telecoms:

Republicans back Powell on telecom rule changes
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WorldCom to Sell Ranch of Ebbers's
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WorldCom moving finance staff
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Integrated Telecom Express Announces Preliminary Approval by the Bankruptcy Court of Disclosure Statement for Plan of Reorganization
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Three Roads to Recovery
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Metawave to liquidate
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Palmer Johnson to Buy WorldCom's Yacht Company
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360networks completes Group Telecom deal
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England:

Diana's lover faces bankruptcy
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Davies comes out fighting for UK corporate reforms
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Indonesia:

Indonesia Opens Bidding for Bad-Loan Sale
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Canada:

New SaskPool plan approved
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