July 18, 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
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Airlines:

Airlines post profit -- with aid
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Air Canada seeks additional $500M
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Hawaiian Airlines Aims to Stay Listed
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Adams could have decision in Hawaiian’s stock trade
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Boeing Plans to Lay Off Another 4,000 to 5,000 Employees
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Midwest Airlines Employees, Creditors Could Own 20 Percent of the Company
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Midwest Express Elaborates on Restructuring Plans
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Midwest Express Seeks Financing After Dodging Bankruptcy Filing
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Milwaukee Officials Endorse Aid Package for Ailing Midwest Airlines
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US Airways, Allegheny County, Pa., Move Closer to Resolution in Lease Dispute
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Treasury, IRS Issue Rules Restricting Bankruptcy Tax Benefit
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The Text of The Regs
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Anticipating Bankruptcy by Hotel Loan Borrowers
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Attorney: Carolina Investors Has Wasted Millions Since Collapse
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Accounting:

Considerations for Sarbanes-Oxley Act Certification
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SEC Approves Audit Board Registration Rules
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Conseco:

Closing arguments start today in Conseco case
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Foreign banks excel in lending with measure of risk, realism
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Bankrupt Funeral-Home Chain Receives Approval to Be Put Up for Sale
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Pittsburgh Mayor, Council, Unions Try to Win Over Key Critic of Financial Plan
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Florida Philharmonic:

Bankruptcy Case of Florida Philharmonic Goes to Federal Court
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Florida Philharmonic volunteers seek additional month to raise cash
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After conviction, Triumph regroups
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Bookpeople Working On Restructuring Plan
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Callaway Golf Earnings Fall 8 Percent
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Sears income rises 35%
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San Mateo camp broke, can't pay staff, chief says - Parents wonder if they'll receive refunds
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Audiovox Completes Recoton Acquisition
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HealthSouth exec pleads not guilty 'at this time'
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Bankrupt America?
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Hampstead, Md., Construction Firm Files for Bankruptcy
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Eastern Pulp & Paper Submits Financial Reorganization Plan in U.S. Court; Affirms Creditor Payments, Long-Term Operations
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Former Budget Group Gets Extension To Aug 1 To File Plan
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Planning a Reduction-in-Force
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  Stars and gripes
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Diaz, Morissette among celebs returning ill-gotten gains
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Enron:

Bankrupt Enron sues The Times
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Enron's long shadow
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Energy:

NRG faces dwindling options
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Northeast May See Blackouts This Summer
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Mirant taps AlixPartners’ Dangremond
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NRG Energy Creditors Get Court OK To Trade Securities
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Utility asks state for plan, not cash
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Allegheny Seeks OK For New Financing, Warns Of Bankruptcy
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The pessimism behind Mirant's bitter bust-up
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Rockingham, Vt., Town Board Decides to Intervene in Utility Bankruptcy
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Allegheny Energy Seeks Waiver Of Law for $2 Billion Note Sale
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Underfunded Pensions Not A Near-Term Problem For U.S. Utilities
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Judge Approves $419M Initial Overbid For Fleming Auction
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Recent Going-Concern Statements
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A Bankruptcy Here Or There, Pretty Soon You're Talking Real Money
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Telecoms:

Staffers Receive Payouts in Touch America Change of Control
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Investigators circle Ebbers associates
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McCaw bets on Metromedia Fiber
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Senate Judiciary Committee Hearing On "The WorldCom Case: Looking at Bankruptcy and Competition Issues" Set For July 22
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U.S. to Extend STT-Global Crossing Review
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WorldCom Examiner Seeks To Subpoena Former Genl Counsel
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MCI rivals pour money into lawmakers' campaigns
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XO to Lay Off 500, Consolidate Operations
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Rep. Sweeney criticizes WorldCom's government contracts
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Bertelsmann seeks dismissal of Napster suit
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Have You Optimized Your D&O Coverage?
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Wall Street:

SEC considers hedge fund registration order
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Wall Street's Hope for E&O Coverage On Penalties Is Clouded by Ruling
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Bankrupt Anaheim, Calif.-Based Retailer Clothestime Closed in June, Still Owes Workers
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The Perfection of Liens in Unregistered Copyrights: Aerocon and Beyond
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Canadian company offers $12 million for bankrupt Ingersoll International assets
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New Bankruptcy Opinions
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Lawyer's bankruptcy practice challenged by Bar
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Castaways exec outlines property's woes
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Law Firms:

Ruling Gives Power to PR Firms Involved in High-Profile Legal Cases
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White Shoe Bankruptcy Partner Defects to Join Growing NY Satellite
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Lawyers from Collapsed Chicago Firm Migrate Elsewhere
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Wall Street Lawyers Gain Clout
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Three Firms Grab Altheimer & Gray Refugees
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The Perplexity and Perversity of the New Lawyer Conduct Rules
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Winston & Strawn Lands Former Bank One General Counsel
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Lawyers Get Set for Political Battles
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Former Texas Attorney General Pleads Guilty to Fraud
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The Three Days That Never Go Away
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NY Partner Pulls Into Handicapped Parking Flap
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Dallas Investment Group Offers $30 Million for Furr's Cafeterias
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England:

Dome creditor's court bid stayed
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France:

Alstom 1st-Qtr Orders Fall 29% on Power-Unit Declines
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Canada:

Doman Will Apply To Supreme Court of B.C. To Extend The Stay
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New Skeena's lawyers demand payment
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Southern Rio Resources Debt Settlement & Property Closing
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Imperial Venture Corp. Debt Restructure Agreement
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Germany:

German banks take a hit
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German Corporate Insolvencies Reach Record High In April
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Japan:

Japan Passes Bill to Let Life Insurers Cut Payments
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Dubai:

Jeweller flees Dubai leaving Dh2m in debts to 75 creditors
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Australia:

Court overturns fine bankruptcy decision
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Colombia:

Paz del Rio finalizes rescue plan
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