January 31, 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:

US Airways to Replace Pilots' Benefit Plan with Cheaper One
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United directors get look at reorganization plan
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Airlines look for government to ease burden in the event of war
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United Airlines' Board Dismisses Management Plan to Create Discount Carrier
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USAirways pilot pension plan in peril
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Wage Slasher
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Lufthansa: No Cash Bailout Plans For United Airlines
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United plans two-tier system for flights, wages
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United's new business plan under fire from unions
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Boeing CEO Says Airline Liquidation Wouldn't Hurt Firm
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Judge Extends Deadline for Midway Airlines to File Reorganization Plan
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PBGC posts largest deficit ever
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Pension agency in deep hole
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Kmart:

Cool customer: Abducted millionaire is released unharmed, without losing a cent
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Kmart sweetens closeout sales to lure shoppers
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Sun World:

Crop grower SunWorld goes bankrupt
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Sun World International Files Chapter 11
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Hockey:

Businessman gives deal to Adelphia
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Hamilton-bound?
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New Offer on Table to Buy Troubled Senators
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Bryden talks on Sens may go until Monday; U.S. court blocks asset seizures
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Asbestos:

Federal-Mogul huddles with creditors
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Federal-Mogul agrees to take Honeywell unit
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Honeywell sells Bendix unit to Federal-Mogul
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Federal-Mogul to Acquire Honeywell's Bendix Friction Materials Business in Exchange for Bankruptcy Court Protection Against Asbestos Liabilities
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Bank One sued again in alleged scam case
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Accounting:

Lawsuits Against Auditors Increase
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Spectrulite Consortium Files for Bankruptcy
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Credit agencies settlement may affect millions
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Closed-door negotiations yield $70 million bid for Great Northern
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Telecoms:

New Valley yanks Globalstar funding
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FCC Votes To Give Satellite-Phone Firms More Flexibility
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Globalstar Loses Funding
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Globalstar Withdraws Request for Approval of DIP Loan
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Globalstar Resumes Talks with Potential Investors
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WorldCom mulls further $16bn write-off
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New Valley Ends Plan to Rescue Globalstar
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For small networkers, it's deal or die
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Global Crossing Investors Sue Banks
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Law Firms:

Top S.F. dot-com law firm to close / Brobeck, Phleger & Harrison grew with tech boom
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One of Silicon Valley's elite law firms to close down
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Brobeck Falls - Partners vote to dissolve as merger talks stall
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S.F. law giant Brobeck to dissolve
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Hale and Dorr saves Brobeck European joint venture
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Brobeck faces collapse after merger bid fails
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Some Brobeck Associates Spared
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Malpractice Concerns Extend to Virginia Doctors, Lawyers
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Preston Gates & Ellis in merger talks with California firm
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Two Major Firms Headed Toward a Merger
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Entering Attitudes
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National Firm Denied Work-Product Shield in Bribe Case
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IP Boutique Faces Dissolution
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White & Case launches new German practice
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Jones Day launches French litigation practice
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Jones Day Says Goodbye to Reavis & Pogue
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Large Firm Administrators Meet Monthly on Associate Perks
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Troutman's Continues to Cut Positions
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Energy:

Calif. sues Allegheny over power contract
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Clear Thinking Group, Inc. Forms Creditors Rights Practice Group
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Toys R Us Cutting 700 Management Jobs
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Finance Ministry downgrades assessment of economy
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Boston Archdiocese:

Lennon finds a financial squeeze
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RoweCom: Alleges Divine 'Wrongfully' Transferred Funds
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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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Cannondale offroads, then crashes
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Formica gets time for reorg
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Diamond Brands:

Diamond Brands reorg plan confirmed
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Jarden's Plan to Acquire Diamond Brands Is Confirmed by the Bankruptcy Court
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Steel:

AK Steel Has Deal to Buy National Assets
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Ohio firm raises bid for bankrupt National Steel
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Steel pension load drains U.S insurance program
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Bethlehem Steel bracing for layoffs at Sparrows Point
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Insurer offers payment to prevent identity theft
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USWA to Continue Considering All Three Alternatives to Consolidation in National Steel Case
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Economy:

A Crisis of Confidence - Fretting consumers slow GDP to anemic .7% in past quarter
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Economy at a crawl in last quarter of 2002
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Conseco Prepares to File Bankruptcy Reorganization Plan
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Enron:

Lawyers' Roadmap
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State to fight $29 million Enron bonus request
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Whistle-blower offers lessons from Enron debacle
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Enron looking for smaller office space
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How Soon To Buy After Bankruptcy
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Delta Queen's management, not Sept. 11, led it to bankruptcy
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Commander Aircraft files for voluntary bankruptcy
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England:

New laws to target rogue lenders
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Britannic fails to ease solvency fears
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Skimpy fig leaf will not hide auditors' unpleasant bits
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Canada:

Wheat Pool makes its final pitch
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Japan:

High court agrees that Tokyo can't tax big banks
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The Japanese business conflict
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