July 2, 2003 

Expired Chapter 12 bankruptcy likely to be reinstated
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Asbestos:

Ray Of Hope For Holders Of Asbestos-Tainted Bonds
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Senator says funding key to asbestos bill
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Asbestos Litigation -- Is Your Company a New Target? Recent Developments
(Martindale: separate free registration required)

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Energy:

NRG's plant sale in limbo
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NRG unit bondholders denied revamp role
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Edison Mission Unit Seeks FERC Ruling On NRG Contract
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WorldCom Gets Court OK To Sell Ranch Seized From Ex-CEO
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Sale of Troll unit speeds liquidation
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Court Approves Bid Rules, Breakup Fee For Kasper Deal
(WSJ: separate paid subscription required)

Supervalu is now eyeing Fleming assets
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Even as Insider Buying Wanes, Postbankruptcy Firms Score
(WSJ: separate paid subscription required)

Galey & Lord Seeks More Time To File Exclusive Ch 11 Plan
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Galey & Lord Retains Restructuring Firm Alvarez & Marsal
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Sale of bankrupt N.C. paper mill is delayed
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Bankruptcy Alert -- Federal Tax Liens / Tenancy by the Entireties
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Steel:

Steel loan board grants Wheeling-Pitt extension
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Adelphia to Spend $400 Million to Upgrade Systems
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Wall Street:

Judge throws out lawsuits against Merrill by ``high-risk speculators
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Casady & Greene to close doors, file bankruptcy
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Pillowtex lenders won't call loans
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Phoenix Group Corporation Files Amended Plan of Reorganization
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Court Approves Organogenesis Disclosure Statement; Action Clears Way for Plan of Reorganization Vote By Creditors
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Bankruptcy not the only relief from errant credit
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Hawaii: Bankruptcy filings look to be at their lowest level in seven years
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Northwest Ohio Residents Filing for Bankruptcy in Record Numbers
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Bankruptcy Reform:

New bankruptcy legislation
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Airlines:

Hawaiian Air Chooses New Trustee
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Pilots approve deal
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American Air Begins Laying Off 3,100 Flight Attendants
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American Nearing Decisions On Its Network And Infrastructure
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American Airlines Reviews Operations for Potential Further Cutbacks
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U.S. airlines receive $954 million in sale of fare data company
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U.S. Court to Hear Oral Arguments in TWA Pilots Suit; 'Some Hope' for Pilots, Flight Attendants Losing Jobs Today
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Enron:

Enron Examiner Wants KPMG To Turn Over Documents On SPEs
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Telecoms:

Setback for Global Crossing challengers
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ST Telemedia Clears Obstacle In Pursuit of Global Crossing
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Judge OKs Global Crossing buyout
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XO Commun Says It's 'Disappointed' By Crt Ruling
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XO Opines on GX Court Order
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Metrocall retires all debt connected with bankruptcy
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Nextel in Pact for WorldCom Wireless Assets
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Recent Going-Concern Statements
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Raven Media Seeks Ch 11 Trustee For DirecTV Latin America
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Moody's Proposes Credit Default Swap-Settlement Method
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HealthSouth:

Scrushy's jet sold to broker
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HealthSouth Leaders Plan Meeting To Discuss Finances, Bankruptcy
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Vermont Bankruptcies Up 10 Percent
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Fog Cutter Receives Full Payment on Strouds Loans
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Kansas City: Omega Door files for Chapter 11
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Top-Flite filing clubs Oaktree
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Headway:

Headway slumps into bankruptcy
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Headway Corporate Resources Files Chapter 11
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Law Firms:

Fraidin's Flight - Did Fried Frank rainmaker Stephen Fraidin quit because of plans to merge with a British firm, or did the merger fail because Fraidin quit?
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Orrick Adds Environmental Practice to Energy and Project Finance
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NY Name Partner Defects to Start Boutique
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National Firm Leader Recovering From Heart Attack
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Japan Needs More Lawyers
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Pittsburgh: Law firm seeks bankruptcy protection
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DKW Law Group files for bankruptcy protection
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Coudert Brothers LLP Celebrates 150-Year Anniversary With $2 Million Commitment to the World's Children
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McGuireWoods completes Chicago merger
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Greensboro law firm honored by national legal directory
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Moody's: Conseco View Now Developing
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U.S. Attorney indicts 7 for attempted fraud
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Outside of Carmel, Ind., Conseco Bankruptcy Case Not Attracting Much Attention
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Lender asks Avado Brands to pay $66 million, bankruptcy possible
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Accounting:

The IRS said it will go after people who avoided paying taxes on their stock options by transferring them to family members
(WSJ: separate paid subscription required)

Eighth Circuit Limits Scope of Accountant-Client Privilege
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Waterlink Wants Interim Court OK To Use Cash Collateral
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Korea:

Foreign Bk Korea SK Global Visit Unlikely To See Results
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Japan:

Japan's Groove files for bankruptcy
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