July 1, 2003 

Kmart seeks supplier payback
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Kmart Seeks Recovery of Critical Vendor Payment
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Handleman Company Comments on Complaint Filed by Kmart
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Kmart officials deny liability in stock's dive
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Kmart Lawyers File Motion to Dismiss Suit
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Airlines:

Air Canada pilots okay pay cuts
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Air Canada Looks to Lessors After Pilots Back Cuts
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Canadian Pilots Battle Over Flying New RJs
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Delta, Pilots to Discuss Wage Concessions
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Hawaiian case a sign of airlines stress
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United Airlines Puts Discount Carrier Plans on Back Burner
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A Chorus Of Advice For United
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United Parent Earns $64 Million in May
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Pilots' Union Will Not Meet Midwest's Contract Deadline
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Former TWA Flight Attendants' Furlough Delay Request Denied; Layoffs Proceed
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The 10 biggest U.S. airlines increased their balance-sheet debt to $56 billion at the end of 2002, more than double the 1999 level
(WSJ: separate paid subscription required)

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Pennsylvania Judge's Liquidation Order for Insurer Leaves Uncertain Impact
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Law Firms:

The 2003 AmLaw 100: The Year of Living Modestly
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The Chart: The 2003 AmLaw 100
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Another Firm Calls It Quits
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Bankruptcies Are a Fertile Practice for Chicago Law Firm Kirkland & Ellis
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Profits Increase At NY's Largest Law Firms
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Lawyers Win Ground From FTC In Quest For Independence
(WSJ: separate paid subscription required)

Altheimer Firm Pursues Merger Talks To Avoid Closure
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Altheimer in limbo as dissolution vote cancelled
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What Recession? Nation's Largest Law Firms Post Revenue and Profit Gains Again in 2003
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Husch & Eppenberger absorbs Mendes & Gonzales
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Chadbourne wins second London partner from Mayer Brown
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Timber company Crown Pacific files for bankruptcy
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Spiegel Retail Credit-Card Issuer Closes Doors
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Magellan Health financing situation is revised
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Bankrupt Mental Health Insurance Company Unveils Revised Financing Deal
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Piccadilly Cafeterias Inc. To Pursue Strategic Options, Including Bankruptcy
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Corporate Reform:

A Coup De Grace
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Vivendi to fight $23m pay-off for Messier
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Buyers leery of U.S. Foodservice
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Madster loses appeal to stay in business
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Conseco D&O loan debtors may be named
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Conseco Atty Blasts Trial Tactics Of Reorg Plan Objector
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Top-Flite Golf files for bankruptcy - World’s largest ball producer to sell assets to Callaway
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Accounting:

FBI investigates Alstom accounts
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KPMG in big lease renewal
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Expensing stock options would backfire
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SEC Charges Peregrine In 'Massive' Fraud Case
(WSJ: separate paid subscription required)

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Enron:

Enron creditors to get less than 20c/$
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More Enron Injustice
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Judge grants Enron extension to file plan
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Enron Gets More Time For Its Plan
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Electoral comedy as California runs out of cash
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Telecoms:

Nextel to Get WorldCom Wireless Assets
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WorldCom gets new heat from Hill, GSA
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Strong medicine - A new CEO is trying to bring Teleglobe back from the dead
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XO Buys Global Crossing Debt
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Icahn Adds Bank-Debt Payoff To Global Crossing Bid
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Touch America: For A Telecom Firm, There's Little Talk Now
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Who Is Brad Kelley, And Why Won't He Return My Calls?
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MCI Bankruptcy Crimps EDS Cash Flow
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Cash Crunch Puts Indianapolis Charity Hospital in Financial Bind
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Asbestos:

ABB Lawyer Expects Judge To Rule Soon On Asbestos Plan
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Asbestos Takes the Senate
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Mosaic Group sale to JLL slated to clear
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HealthSouth:

HealthSouth to provide business plan on July 7
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HealthSouth and Ernst are clashing again over auditor-fee disclosures
(WSJ: separate paid subscription required)

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Dice Exits From Bankruptcy and Eliminates $69.4 Million of Debt
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One Year after Filing Bankruptcy, Cable Giant Adelphia's Case Moves Slowly
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Malden Mills to Emerge from Bankruptcy Monday, June 30, 2003
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GenTek Files Plan Of Reorganization
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American HomePatient, Inc. Emerges from Bankruptcy Under Approved Reorganization Plan
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Key3Media No More; Former Bankrupt Co. Becomes: Media Live
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Congress Told to Target Identity Theft
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Lender seeks a portion of defects settlement
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New Bankruptcy Opinions
(3 new opinions today)

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Energy:

Bankrupt Utility NRG to Sell Power in Connecticut after Judge's Ruling
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Mirant Says Some Bondholders Back Swap; Shares Gain
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Mirant Shares Soar on Bondholder Support
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NRG Agrees During Hearing to Amend Disclosure Statement
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Judge won't stay FERC's order against NRG
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NorthWestern Energy breaches five-year contract with municipalities, schools
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Steel:

KPS gets Wire Rope for $55M
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Deadline Passes, Is Wheeling-Pitt OK?
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State loses round in collecting ISG taxes
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Too Good A Bargain To Pass Up?
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Bankrupt Fleming Dumps Core Businesses
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Delaware Court: Inadequate Process May Cost Disney Board Protection of Business Judgment Rule
(Martindale: separate free registration required)

Las Vegas Casino Gets Approval for Loan after Filing for Bankruptcy
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Bankruptcy needn't prevent homeownership
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Reptron Electronics, Inc. Reaches Agreement With Convertible Noteholders
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Foreclosure rate climbs to a record
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OrbView-3 Gives Orbimage Life
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Former Budget Group Gets More Time To File Chapter 11 Plan
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England:

Lenders to control largest UK power station
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AES Says Lead Creditors Agree to U.K. Power Station Refinancing
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BE chief in line for GBP 800,000 failure pay
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Thailand:

MoF set to announce neutral TPI team
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Mexico:

Mexican Bank Watchdog Ready With New Disclosure Rules
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Japan:

Japanese Authorities Arrest Chief of Electronics-Retail Firm
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Tokyo Court Approves Westin Hotel Osaka's Plea to Begin Rehabilitation
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Supermarket Operator Mycal Submits Rehabilitation Plan to Tokyo Court
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Hong Kong:

Mainland firms face probe on loan mess
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Australia:

Banned Elliott vows to fight on
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Justice takes a sword to Elliott
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