January 24, 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

         
More Bankruptcy Filings Expected in 2003
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Airlines:

Seat sales a bad sign, agents say
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Swissair investigation ordered
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Bankruptcy May Affect Mutual Funds that Hold United Airlines Bonds
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Passenger rights during airline bankruptcy
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SAirGroup creditors told to wait
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United's talks with unions focus on launching low-cost carrier
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Air Canada to seek job, wage cuts
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America West posts loss, bankruptcy not in sight
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Heat is on as US Air mulls pension woe
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New Systems For Airliners Aid in Savings, F.A.A. Says
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Hockey:

Toronto lawyer leads bid for NHL Senators
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New bid wants Sens for Hamilton
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Driving fans Sens-less? Banks holding out on approving Bryden's deal
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Leafs go into black hole
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Bidder wants to re-enter Sabres race
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Bryden tweaks deal for balking banks
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Plan Would Tap Deadbeats' Gambling Wins
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Bankrupt casino running out of time to sell license
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Acquisition Pulls Moab-Based Firm From Chapter 11
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In debt over your head? List bills and take action
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National Century to Close After Further Woes Uncovered
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Asbestos:

High hidden cost of asbestos
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US asbestos cases have knock-on effect
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Businesses Regroup To Push For Asbestos Litigation Bill
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Indeed, the rich got way richer, Fed study finds
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LTC Properties, Inc. Comments on Alterra Bankruptcy Filing
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MBNA Falls as Loan Reserves Are Raised
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Steel:

Bayou Steel files for bankruptcy reorganization
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Two more steelmakers swoon
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National Steel Finds a Second Bidder
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Rivals battle for NatSteel
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History Could Haunt Bid for National Steel
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USW in middle of battle to buy National
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Cold Metal Products Receives Court Approval To Sell Equipment at Closed Connecticut and Ohio Operations
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Kentucky Electric Steel to File Bankruptcy
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Haleos seeks to dismiss filing
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  Winston bags bankruptcy boutique
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Repossessions Rise as Recession Wears On
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Telecoms:

New Jersey sues WorldCom to recoup E-ZPass losses
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Two telecom deals advance
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WorldCom asks to sell ex-CEO's shipyard
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Telecoms braced for another year of decline
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Focal Communications Revising Cash Collateral Pact
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US Seeks To Limit Depositions In Adelphia Commun Lawsuit
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Global Crossing Releases Operating Results for November 2002
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Telecom Turnaround? AT&T, BellSouth, Nokia Say Theirs Is On Hold
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Battered Telecom Bonds Getting Some TLC From Ma Bell
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Denmark faces bankruptcy
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Enron:

Ex-Vice President of Enron Unit Gets Year in U.K. Jail
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Enron seeking OK for $29 million in bonuses
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Sentencing delayed on partnership tax charges
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Kmart:

Grocery Supplier Fleming Threatens to Take Kmart Business Elsewhere
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Will Kmart battle plan work?
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Creditors Still Working on Kmart Plan
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Kmart looks to file reorganization plan
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Laidlaw closer to exiting Chapter 11
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Laidlaw Reaches Pension Deal with PBGC
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Georgia to Tweak Predatory Lending Law
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Bankrupt aquarium's land sought
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Bankruptcies Are on the Rise
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Bill Boosts Protection From Payday Lenders
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Accounting:

Fraud Suit Revived Against Deloitte
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SEC approves fund disclosure change
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Peter's seeks Chapter 11 protection
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Liquid Audio Gets a Buyer for Its Assets
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Moto Photo to sell assets for $2.6M in bankruptcy protection
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Broadcom shrinks scale of M&A
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Energy:

Creditors Zero In On Xcel's Tax Benefits In NRG Talks
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FERC stalls CalPower's exit
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D-Day Foundation Nears Debt Settlement
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New Bankruptcy Opinions
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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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Law Firms:

National Firm Gains Insolvency Practice and West Coast Presence With Merger
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SEC Eases Off on Provisions for Attorneys
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Correction: Firm Not Slashing Bonuses
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Boston Firms Planning Expansions in Hard Times
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Ropes & Gray Announces Addition to Private Client Group; Hill & Barlow Group Joins Firm
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New York Lawyers Rude?
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Rules Restricting Practice In Multiple Jurisdictions Are Outdated
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Falling Profits Force Firm to Eye Changes
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Firms Find Domestic Partner Benefits Are Not a Burden
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Skadden Heavy Hitters Defect
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Wall St. Shreds Bonuses as Unemployment Soars
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Microsoft Sues Peregrine Systems Over Software Use
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Federal Agency To Assist Greyhound's Pension Plans
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Former Carleton workers to get severance
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Auction gives bidders chance to buy CD Wherehouse assets
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Canada:

Consumer bankruptcies fall while household credit shows fastest growth in over a decade
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PCNET Obtains New Payment Date for CCAA Plan Obligations
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Worried farmers hear Pool pitch
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Solid Resources Ltd. Concluded Implementation Of Plan Of Arrangement And Compromise
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Australia:

Regulator 'would see HIH coming next time'
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England:

Manchester and Bolton are 'busiest business graveyards'
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Bolton wanders off course
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Motherwell worst for business failure
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Switzerland:

Jomed to file for creditor protection
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Jomed Probe/Swiss Prosecutor: After Dutch Filing
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Ireland:

More people seeking help with debts, says service
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Japan:

Japanese Banking Giant Signals Looming Crisis
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Mexico:

Grupo México Faces Debt
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