January 7, 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

         
Lockup lockout?
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Economists Predict Better Retail Outlook for 2003
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Sail or sale? Bankruptcy court asked
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Telecoms:

AT&T to Cut 3,500 Jobs, Record $240 Mln in Expenses
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Full Text search WorldCom Pleadings

Examiner critical of Summitís finances
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Telecom Hang-Ups -- With turmoil in the industry, telecom customers are changing their strategies to reduce risk
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XO: Full speed ahead
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FCC Proposal Reopens War Over Use of Phone Networks
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Insolvency looms for Metromedia
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Interliant Completes Divestiture of Non-core Business
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Lower rates may come at customers' peril
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U.S. Seeks Share of Breast Implant Payout
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Safety-Kleen named in $400 million suit
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Banks losing more when U.S. companies default-S&P
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Furr's:

Furr's petitions for bankruptcy
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Fewer buying what cafeterias dish out
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Enron:

Natural Gas Company Lets Go of Enron Associations
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Enron Prosecutors Expect More Charges This Year
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Foreign lenders oppose Dabhol restart plan
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Senate Panel Seeks 'Structured Finance' Crackdown
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Advanced Glassfiber wins DIP approval
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Sterling Chemicals president retires
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Accounting:

Ex-SEC accounting chiefs seek hard regulatory line
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Return of the Bean-Counters - With a welter of new reporting requirements coming in January, controller skills are suddenly a hot commodity
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KPMG Launches WSJ Ad Campaign, Aims to Restore Credibility to Profession
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New Accounting Oversight Board to Meet
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Plante & Moran Named One of 'Best Companies to Work For'
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Law Firms:

The First Day of the Rest of Your Law Firm Life
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Less Than Half of DC Associates Got Bonuses
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NY Firms Merge
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Many good reasons why legal firms maintain offices downtown, in suburbs
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Defections Lead Firm to Close Satellite Office
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Economic troubles continue to force firms to buckle down
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Firm Raids Rival for Real Estate Team
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Experts see lift in pro bono work
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Bustling law arena apt to keep luring new rivals
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  The IRS Can Lookback at You a Little Longer
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Airlines:

United Airlines Changes Business Fare Structure
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Low fares mean no food on United Airlines
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UAL unveils more job cuts
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United goes after business travelers
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United Seen 'Muddling Through' Cost-Cutting Crisis
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US Airways' November revenues, loss increase
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Industry Seen Losing $1.2 Billion More Than In 2001
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Majors Forced To Become New 'Discount Carriers
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Air Lib draws up rescue package aimed at averting bankruptcy
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Airline labor tactic: Winning by losing
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Polaroid seeks extension for liquidation plan
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Steel:

Ross welding BethSteel deal
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ISG offers $1.5-billion for Bethlehem
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A Contrarian Bets That Steel Has a Future
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United Steelworkers Encouraged By Prospect Of ISG Purchasing Bethlehem's Operating Assets
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International Steel Hopes For Bethlehem Deal in Two Weeks
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Park Service may save skyline relics of Bethlehem Steel
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Group close to buying Beth Steel; reports say 4,800 may lose jobs
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Columbus Coatings part of bid package
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Financial, Valuation Firms Dismissed from Lawsuit
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Asbestos:

Asbestos toll only mounting for corporate America
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Will a Chance for Asbestos Reform Be Missed?
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ABB Asbestos Proposal Due Shortly
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Peregrine conspiracy ruling
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Texas French Bread files for Ch. 11
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Bankrupt farmer who 'lost' 200 cows is sentenced
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Shareholders Beat Privilege in Bank Case
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Defalcation Requires Fault, But Not Specific Intent

Henninger writes off Richmond office to Ch. 11
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Corporate Reform:

NASD to probe Merrill's research oversight
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Executive Credit Crunch
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Employment Law Post-Enron
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Economy in the dumps? Hey, fine with us
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Jeffboat parent hopes debt plan flies - Creditor deal could prevent Chapter 11 filing
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Energy:

Allegheny near $2B bank deal
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Xcel continues negotiations with NRG creditors
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Report cites others in Enronlike trades
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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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ROHN Industries' Transfer of Assets Costs Nearly 300 Jobs
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Conseco:

Conseco faces 3 creditor panels
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Conseco Finance auction set
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Dream-project land locked up in bankruptcy court
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Adelphia might move main office to Denver
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Advanced Tissue Sciences Announces Agreement for Sale of NouriCel Product Line
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Frederick's polishes image, tones down racy garments
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One-Third of Hospital Executives Worry about Insolvency
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Hockey:

Senators' financial woes could affect bargaining agreement
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Chapter 11 in Sens saga? - Cash-strapped hockey club to seek bankruptcy protection in Canada and U.S.
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Unpaid Team Overcomes Overpaid Team
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Coming: Binge Borrowing
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Lady Baltimore, affiliate, file for Chapter 11 bankruptcy
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Med Diversified Receives Court Approval for Post-Petition Debtor-in-Possession Financing
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Lloyds List: Insolvency proceedings that supercede European borders
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Japan:

Construction Firm Shoei Goes Bust
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Northern Ireland:

Fewer firms go to the wall in NI
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Australia:

Directors may face trading while insolvent charges
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New Tel creditors meeting to vote
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Liquidator to pursue New Tel's directors
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New Tel liquidation backed
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China:

The new face of bankruptcy
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China Facing Economic Crisis
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Italy:

Banks to review Fiat restructuring
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Israel:

Tel Aviv court adds bankruptcy judge to meet increase in cases
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England:

Mass job cuts predicted in UK financial sector
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Current Distressed Companies Update
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UK economy set to deteriorate
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