January 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

         
Energy:

Rival rescue plans bog down PG&E bankruptcy case
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Allegheny Energy Nears Debt Deal
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Fitch lowers credit rating of Allegheny
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Court Dismisses PG&E Unit's Claim Against State on Rates
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Moody's may cut Aquila snr unsecured debt rating
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Great Northern files for Chapter 11
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Market Grows for Loans to Bankrupt Firms
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Steel:

National Steel assets sold for $950M
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U.S. Steel to buy National
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Analysts Question U.S. Steel's Price for National Steel
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U.S. Steel Counting on Support for Industry Consolidation
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Steel relics face demolition
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Cold Metal Secures Extension to File Reorganization Plan
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Telecoms:

WorldCom seeks new deadline in bankruptcy court
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Full Text Search WorldCom Pleadings

WorldCom Says International Executive Leaves
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Williams Cos. Wants over $7 Million from Former Communications Subsidiary
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WorldCom has three potential buyers for Intermarine
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Sprint PCS May Consider Buying an Affiliate Out of Bankruptcy
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Former Salt Lake City Telecom Trustee Pleads Guilty to Embezzlement Charges
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Consultancy Predicts Level 3 Will Bid for Pieces of Bankrupt WorldCom
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Integrated Telecom Express Announces Bankruptcy Court Decisions
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Adelphia:

Adelphia founder Rigas to face criminal trial
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Adelphia Shareholders Sue to Force Board Vote
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Adelphia uses big incentives to lure new chiefs
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Adelphia's Founder Seeks Venue Change
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U.S. Steel Counting on Support for Industry Consolidation
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Enron:

Women of Enron blast TV movie
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Committee denied access to trader
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Prosecutors want hearing for Fastow put off a month
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Lay lawyer says movie no big deal
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Enron nears settlement in wind power case
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Judge delays lawsuit decision
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Henninger rolls out Ch. 11 reorganization plan
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Taking aim at credit card practices - Regulators say lenient standards threaten borrowers, banks
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Woodland Hills, Calif., Hospital Loses Round on Debt
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  Airlines:

United, buyout firms in heated game of poker
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Airlines say war with Iraq would worsen their business
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McCain: Let weak airlines fail
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White House Brushes Off Cost Concerns of Airlines
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More airlines facing failure
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The New Face of Air Rage: As Bankruptcies and Layoffs Increase Stress, Crews Lose Their Cool
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United, IAM wait for judge's ruling
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Second Big Vote Looms for US Air Unions
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Airlines chewing on flying-deli concept
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Airlines again ask for assistance
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McCain Says Airlines Must Help Themselves
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Santorum's US Airways pension rescue blocked
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UAL Hires Search Firm to Find New Promotional Executive
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Judge weighs Orius' prepack
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Hockey:

Ottawa Senators seek protection
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High-Flying Ottawa Files Bankruptcy
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Regrouping Senators are on money
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Senators will fetch garage sale value once bidding starts
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Senators engaged in uphill financial struggle
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TV deal, CBA, skyrocketing salaries to blame
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Loss of NHL hockey would be devastating to Canadian capital
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Owner pleads with Senator fans
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Ottawa Senators Get Bankruptcy Protection in Canada
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Trustees in bankruptcy's comments on how the Ottawa Senators crossed the "the red line"
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Once again, the people of Ottawa are being told the Sens' fate is in their hands
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Temples of gloom: Big arenas haven't been the panacea hockey clubs had hoped for
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Clock ticking for Bryden's Senators
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A mea culpa might be nice
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Bankruptcy adds to NHL's problems
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Accounting:

Pitt retaining SEC power rankles accounting reform watchers
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Life After Andersen
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Accounting Agency Begins Inspecting Soon
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Audit Standards Board Sets Up, Looks for Staff - High Salaries Planned to Mirror Industry
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Layoff roundup: week ended Jan. 9
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First 2003 Chapter 11 bankruptcy filed
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Future Beef Operations plant sold
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Appeals Court in Philadelphia to Decide on Brennan Bankruptcy Fraud Case
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Starlight creditors fighting for assets
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New Bankruptcy Opinions
(3 new opinions today)

Bankruptcy Jobs - 784 Jobs - Last Updated December 10, 2002
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Indiana State bankruptcies go through the roof
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Conseco To Sell A Unit
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Formica slashes DIP
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Law Firms:

Shearman Sees Double With Twin Second-Years
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Perceiving Is Believing
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Dechert Opens Outpost In San Francisco
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Firms Grade Texas Law Schools
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Hobson ties up Faegre merger
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Partner Defections Hit Milberg Weiss
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UK Firm Moves to Delay Associate Start Dates
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A&O in three-way split on banking head
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Colorado Springs Symphony:

Bankruptcy for Colorado Springs symphony
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Tensions hit a high note - Springs symphony's bankruptcy threat called 'blackmail'
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Kmart decision may be revealed next week
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Corporate Reform:

Spitzer's Next Target: Gotham Hedge Fund
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Fleet fined for Robbie's sins
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Ethics: The Great Divide
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Former Tyco GC Makes Bid For Dismissal of Criminal Charges
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REIT Deal Was Gotham's Undoing
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UPC to Remain Loss-Making in Foreseeable Future
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Remembrance of dot-com idiocy past
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Cash bid hiked for bankrupt tech company PurchasePro.com
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Japan:

Firms donate to LDP after debt waivers
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Chief of Osaka finance firm held over investment scam
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Recession proving to be karaoke industry's ultimate sour note
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Scotland:

Debt firms accused of breaking rules
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Canada:

Uniforet Inc. - Court's Hearings to Sanction the Company Plan of Arrangement will be Held from March 3 to March 14, 2003
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Australia:

Car rental king bids for New Tel
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Australian Bankruptcies Fall 7.8% In 4th Quarter Versus 3rd Quarter To 5,438
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HIH inquiry seeks scapegoats for Australia’s biggest bankruptcy
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