January 8, 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

         

What's Wrong with This Picture? - Polaroid's passage through Chapter 11 exposes how bankruptcy can give debtors too much power
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Airlines:

United pilots OK wage cut
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United pays outside advisers millions
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United Pilots OK pay cut; 2 other unions also agree
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United, US Airways expand alliance
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World Airlines Lost About $13B in 2002
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Statement by UAL-MEC Chairman Captain Paul Whiteford in Reaction to United's Pilots' Ratification of the Interim Agreement with United Airlines
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UAL Pitches Frequent-Flier Deal
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Airline industry slump hits Boeing orders
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Airlines Urge for Labor Law Change to Reduce Strikes
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Consolidated Freightways:

Many Former Consolidated Freightways Workers Remain Underemployed
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Bankrupt shipper will sell assets
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Judge clears UPC's reorganization
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Steel:

Offer viewed as best likely for Beth Steel
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Steel deal moving on fast track
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Some push to save part of steel plant
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Odds are long for Ross's bet on Bethlehem
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Management, union cooperated on Bethlehem buyout deal
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Retired Steel workers look for insurance
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Beth Steel workers, retirees wait and worry over ISG buyout
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Kmart:

Ex-Kmart chief hires big-gun law firm
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Telecoms:

Adelphia Communications to Hire Former AT&T Broadband CEO
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AT&T Latin America Continues Restructuring Process
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Bermuda court approves Global Crossing revamp plan
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US Bankruptcy Court recognizes GT Group Telecom Plan of Arrangement
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AT&T, WorldCom Could Lose Access to Networks
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Ready to bet on Microcell?
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Utility sues nursing home for $2.6 million in overdue payments
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Class Action Plaintiffs Appeal Federal Racketeering Case Against PNC Bank
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First Union Real Estate still wants Gotham Golf
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Chiasso boutique enters bankruptcy
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Filing for bankruptcy carries hefty price
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Record Retailers Face Music, Plan Closures
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Nations Rent Shoots for Bankruptcy Rebound, After Yearlong Struggle
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Safety-Kleen faces lawsuit
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Mustang Athletic facility files for bankruptcy
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  Hockey:

Ottawa Senators slide toward bankruptcy
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NHL's Senators to File for Bankruptcy, People Say
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Common cents will decide Sens' issue
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Senators skate to the poorhouse
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The anatomy of a failed deal
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Ottawa faces sale of NHL's Senators
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Arena killing Sens
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Manley faces probe over call on Senators
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Formal request for investigation into Manley filed with ethics counsellor
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Vultures hover over cash-strapped Buzzards
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Corporate giants fell in 2002
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Judge Urges Lawyers to Find Assets of Former Rhode Island Broker
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Bankruptcy Reform:

IMF unveils global bankruptcy system
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Energy:

US group hit by wholesale electricity price falls
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CCRO recommends standard energy trade agreement
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Investor interest in Dynegy revived
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Law Firms:

They Came From Online
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Faegre merges with British law firm
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Blank Rome Acquires DC Firm
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Wall Street Exec Jumps to Clifford Chance
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Paralegals get more autonomy
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Nixon Peabody Raids Rival for Public Finance Expert
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Law firm employee accused of theft - Police say woman stole $200,000 from client
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Lawyer Must Pay Insurer's Fees Over Frivolous Claim
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Attorneys leaving Reed Smith to start new firm
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Law firm sees high-tech opportunities from merger
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Enron:

Law firm says it is innocent in Enron case
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Judge keeps tight leash on trial date
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Creative Financing's Gaping Loopholes - The settlement between JP Morgan and insurers over controversial Enron deals shows how badly banks still need stronger oversight
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Enron Booked $250 Million Profit In One Day After Chapter 11 Filing
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Napster Creditors Win Approval of Settlement With Bertelsmann
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Genetronics: Bankruptcy Likely If BTX Sale Not Completed
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Anna Nicole wins 62m damages
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Gambling ship operator files for bankruptcy
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Colorado Springs Symphony may file for bankruptcy
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New Bankruptcy Opinions
(1 new opinion 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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Running a Bankrupt Company May Be Executives' Path to Gold
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The Final Appeal Over Sex.com
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Criimi Mae balks at MAC clause
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Adelphia Gets More Time To Provide Financial Info
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Office Vacancies Climb to 16%; Landlords Face a Tough 2003
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Accounting:

Chair Missing at Oversight Board
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Andersen site home to new board
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Three Accounting Firms Named "Best Companies" by Fortune
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Havey to Reorganize in Wake of Scandal
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Law firm hired by HealthSouth clears founder
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The Fallen
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Asbestos:

For asbestos relief, ABB unit eyes Ch. 11
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ABB to Settle U.S. Asbestos Lawsuit
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Will a Chance for Asbestos Reform Be Missed?
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Singapore:

Bankruptcies in ailing Singapore soar to 17-year high
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Canada:

Valentine breached order: OSC
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Childrenswear Assigned into Bankruptcy
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England:

Britannic begs clients not to lose faith
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Morgan Stanley presses NTL for unpaid fee
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One in five on credit 'blacklist'
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British Insurer Slumps after Shock over Dividend, Bonuses
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New York Firm Prepares Bid for British Office Provider
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Japan:

Court-ordered property auctions moving to Net
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Japanese karaoke fans sing the blues amid slumping economy
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Germany:

Executive spats hamper progress at MobilCom
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New Zealand:

Fifty cents in dollar best bet for DFMainland creditors
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Australia:

Going for broke to hobble insolvent
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Greenburg ends 10 years of bankruptcy
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