January 9, 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

         
Critics hoping for an end to Chapter 11
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Frederick's of Hollywood Out of Bankruptcy
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Bankruptcy Reform:

IMF refines bankruptcy plan after creditors object
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Bankruptcy Puzzler: Economy or Reform Behind 15% Jump?
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New 108th Congress Likely to Affect Card Industry Priorities in 2003 -- With hot button issues like bankruptcy reform and financial privacy
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For Bankruptcy Reform Bill, Better Luck Next Congress -- Expect bankruptcy reform legislation that went down to defeat in the
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New Congressional Leaders Likely to Affect Banking Industry Agenda in 2003
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Law Firms:

Boston Firm Axes 34 Associates
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Law firm latest to announce cutbacks
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Law firm layoffs continue: Testa, Hurwitz points to corporate work loss
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Flying Apart
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What Do Lawyers Do?
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Proposed SEC Rules May Turn Lawyers Into Whistle-Blowers
(WSJ: separate paid subscription required)

Lawyers as Stool Pigeons? - SEC May Force Attorneys to Blow Whistle on Corporate Clients
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Three years on, top lawyers brand Clifford Chance New York merger damp squib
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Two Top NY Firms Change the Rules of Their Partnerships
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Derk's partner faces grilling over Dutch bankruptcy overbilling claims
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Biglaw Firms Accused of Contempt in Internet Libel Suit
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Money, Promotions and Work-Life Balance
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Orricks profits surge as Bay Area rivals buckle
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Barclays panel review casts net wide
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Telecoms:

360networks creditors sue Nortel
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Full Text Search WorldCom Pleadings

Telecom Experts Advise Businesses to Make Long Distance Contingency Plans To Avoid Bankruptcy Disruptions
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Adelphia Communications-Error Correction Error?
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360networks sues Nortel to recover $101.1 million
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DirecTV Latin America in talks on debts, costs, bankruptcy possible
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Ship operator seeks Chapter 11
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Auto Life USA Business Purchased In Bankruptcy Sale
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Accounting:

Niemeier named acting chair of SEC audit panel
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Firms reject mandatory rotation
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SEC OKs fitness plan for audit committees
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New IRS Office to Oversee Tax Professionals
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SEC concedes ground on Sarbanes-Oxley
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Off-Balance-Sheet Financing On the Way Out?
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E&Y in Equitable Life strike out
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Canadian bank buys Ark City beef plant in bankruptcy
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  Zell's cruise line set to liquidate
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Airlines:

UAL: Machinists 'Must Be Ordered' to Accept Pay Cuts
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US Airways Would Restructure Pensions
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Bankruptcy judge to rule on pay cuts for United Airlines machinists
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United's machinists last holdouts to emergency pay cuts
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Crash Creates More Worry For Airlines in Bankruptcy
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United Attendants OK Interim Pay Cuts
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United's labor concessions put pressure on American
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Experts: US Airways managing crisis well
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AMR Asks Employees to Reduce Sick Days
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Adelphia Considering CEO, COO Contracts
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Judge clears UPC's reorganization
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Hockey:

Tense nights await Senators fans in looming bankruptcy protection process
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FleetBoston, Game Plan to play roles in Senators bankruptcy
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Warm Up The Zamboni - NHL May Be Pucked
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Ontario could lose out on loan
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Bankruptcy isn't always a death sentence
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No answers expected soon on Sens' situation
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Franchise in debt from day one
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Senators players try to stay focused
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Senators Are Not Winners at Bank
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Financially-troubled minor league hockey team forced to pay $5 per player to practice at open skate
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Senators Miss Paycheck but Surge to Top
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Ex-Sens stand to get stiffed
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Ottawa not the only team in the poorhouse
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US firm may buy Senators' arena
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Mario knows bankruptcy
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Cash-poor Senators not likely to move
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Geoworks:

Low turnout kills Geoworks shareholder meeting
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Geoworks Weighs Bankruptcy After Holder Meeting Canceled
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Kmart:

Kmart to disclose list of stores to be closed
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Kmart deposes ex-president
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Steel:

Wheeling-Pittsburgh Plan Gives Stock To Creditors, Workers
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Bid for Bethlehem could help National
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No word yet on ISG plans for workforce reductions
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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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Lenders embrace bankrupt concerns
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Drop zone - IRS administratively expands the definition of a "D" reorganization
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Adelphia's Executive Pay Plan Under Fire
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Encompass to slash 169 jobs
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IRS files $1 million lien against Monsour Medical
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Consumer debt shows an unexpected decline
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Energy:

Ruling Scraps PG&E Claim Against California On Rates
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Five firms on TXU UK trading arm creditors' group
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Corporate Reform:

Panel Presses for Division Of CEO, Chairman Posts
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Enron:

Auction of Enron's India plant hits snag
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Enron Shareholders Want Company in Lawsuit
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AMERCO Reaches Agreements With Bank of America and Citibank
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PANACO, Inc. Discusses Amex Notification
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Liquidator may get MJDesigns
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Siddell Memorial Hospital's Plan B could be bankruptcy
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AmeriKing gets more time
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Promedicus Health files for bankruptcy protection
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Conductor threatens to resign if bankruptcy goes through
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Tioga Park sale halted by bankruptcy
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Travelers count their losses as companies sort out mess
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Man held in plot to kill former bankruptcy judge
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Venezuela:

Venezuela given debt default warning
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England:

Ernst & Young attempts to have 2.6bn Equitable claim thrown out
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Fair trade standards 'flouted by debt industry'
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New accounting rules may catch out businesses
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Student loans
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Bradford faces bankruptcy
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Canada:

Ex-Skeena workers denied severance
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Lumenon/Canadian Unit: Crt Grants Stay Of Proceedings
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Japan:

Japan contractors pay politicians for survival
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