January 2, 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

         
Rehnquist sees bankruptcy judge shortfall
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Airlines:

United Airlines' Bankruptcy Case Boosts Illinois Court's Prominence
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Court approves UAL's $1.5B DIP
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United's Machinist Union Seeks To Halt Wage Cuts
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Airlines to cut losses by cutting jobs
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United family life on the fly
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Area braces for fallout from United
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Former St. Louis-Based TWA Pilots Work to Save American Airlines Jobs
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Energy:

Allegheny subsidiaries given a third reprieve by lenders
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Law Firms:

A profession under a big cloud
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Law Firm Can Seek $50M in Punitives Against Chase Manhattan Bank
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The Issues Facing Second-Career Lawyers
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Steel:

Potential investor says offer for Bethlehem Steel still on track
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J&L Steel Mill in Bankruptcy Protection
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Bankrupt Company Negotiates Sale of San Antonio Foundry
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Trustee probing bid for LV firm
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Smothered in Debt
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Enron:

J.P. Morgan wraps up insurer case - Jury will deliberate over whether Enron 'tricked' huge bank
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The year of the falling companies
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Chain-reaction bankruptcy filings continue to soar
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Chicago courts bankruptcy filings - City ranks fourth in Chapter 11 cases after heavy lobbying
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US judges underpaid, says Chief Justice
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Asbestos:

Asbestos lawsuits cite plastics makers
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Last-minute asbestos suits widen legal attacks
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Asbestos deal watched closely - Halliburton settlement may aid others
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Financier Steinberg denies role in Reliance insurance co. collapse
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Bankruptcies Hit New Pinnacle As Economy Stumbles
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Bankrupt Tandycrafts, Inc. and Subsidiaries Complete Sale of Assets
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Sarbanes-Oxley Has Major Impact on Electronic Evidence
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Assets of Two US Weight-Loss Product Sellers Frozen
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Emex Corp Files For Chapter 7 Liquidation
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Big US Banks' 4Q Littered With Loan, Settlement Costs
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Claim Delays Approval of Charleston, S.C., Polymer Firm's Bankruptcy Plan
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Sale of bankrupt aviation business could mean jobs
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Despite Record Defaults, Some Are Positive on Junk Bonds
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New Bankruptcy Opinions
(No 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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The Bankruptcy Run Isn't Slowing - High debt and low cash mean more candidates for 2003. Credit analysts have a whole list of possible filers
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Telecoms:

McLeodUSA closes sale of Illinois assets
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Global Crossing names new chiefs
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A Novo Broadband Sees FY02 Oper Loss Of $14.5M Vs. $1.9M
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SpectraSite Holdings completes sale of network services division
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Executive Resigns from Bankrupt Oklahoma City-Based CD Warehouse
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Weak world economy erodes corporate lending
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England:

Morgan Stanley sues NTL for 7m
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NTL restructuring to include new bonds issue
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Scotland:

Scots bankruptcies up by six per cent
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Canada:

Troubled Mosaic cuts jobs, CFO resigns
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Unhappy new year at Mosaic
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BCE unloads its stake in Teleglobe to Ernst & Young
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