July 22, 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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SK Global's U.S. arm seeks bankruptcy protection
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Enron:

Enron Settles on Claim of Partnership
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Fastows rejected again on trial bid
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Enron Holding Company that Owes Portland Utility $5 Million Files Chapter 11
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Top-Flite:

Adidas bids for bankrupt Top-Flite
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Top-Flite Auction Heats Up As Adidas Swings Into Fray
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Airlines:

U.S. Airline Legal Maneuverings Create New Risks for Airport Bondholders
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United Air has not decided on Chapter 11 exit timing
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Air Canada Gets Sweeter Lease Terms for 12 Planes
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American Waives Rest of Pilots Union's Fine
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Airlines hit with new fees
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Alaska Airlines Considers Pay Cuts, Longer Hours to Meet Cost-Cutting Goals
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Hawaiian Holdings investors at stalemate
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Telecoms:

WorldCom to pay Verizon $60m to settle disputes
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Dial M for Miserable
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Touch America Pre-Selects Assets-Auction Winner
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Touch America's investors cringe
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Rudy Boosts Worldcom In Congress
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Loral Looks Beyond Bankruptcy
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Teleglobe Seeks OK Of Settlements With AT&T, Marcatel
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Senate Judiciary Committee Hearing - "The WorldCom Case: Looking at Bankruptcy and Competition Issues."
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Fitch Takes Action on Various Conseco/Green Tree MH Transactions
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Careful, Your Bank Is Watching - New Technology Lets Lenders Get Daily Reports On Customers
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HomeGold:

HomeGold nearly finished
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Court: No Carolina Investors 'Fire Sale' -- Yet
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Imperial PlasTech Inc. Granted 304 Injunction
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Buffet's bid for Clayton Homes scrutinized
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Accounting:

SEC probes video game companies
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Cost to Stay Public Soars for Small Companies since Sarbanes-Oxley Act
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Leisure Industries Announces Structured Liquidation
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Payday Glitch Snarls KeyBank Accounts Across 13 States
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Banks ignore scale of ID theft
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Emeritus nearly triples size in winning bid for Ch. 11 competitor
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Agari Mediaware draws interest
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Steel:

AK Steel Posts Loss, Says Some Mills May Be Shut
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Up from the Scrap Heap
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Port West Associates, L.P. Retains Keen Realty and CB Richard Ellis to Sell 1,280 Unit Multi-Family Apartment Complex in Columbus, Ohio
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  Study finds bankruptcy costs falling?
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Law Firms:

After Six Years, New #1 Law Firm Emerges in Vault Guide
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Camerons takes an axe to Washington DC arm
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NY Bankruptcy Partner Defects
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Sonnenschein cashes in as Altheimer lawyers jump ship
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Firm Says It Will Weather Salary Freezes and Office Closure
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A New NY Firm Reigns as Vault's Most Prestigious Firm
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Telecommuting From a Ski Lift
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Key Partner From Defunct Firm Finds New Home
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Fulbright shores up international department
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Fired By His Law Firm, He Lands a New Job as a Movie Star
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Corporate Firms Get Busy Again
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Ex-Altheimer chief returns to broker European sell-off
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Female Lawyers Launching Small Firms, Rejecting the "Mommy Track"
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Tech Firms Lose Luster
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NY Firm Opens San Diego Satellite
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NY Associate Takes Job Lawyering for the President
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Weltman Weinberg opens Philly office
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Firm Bulks Up LA Satellite
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Johnny Cochran's Mystique Able to Tip Legal Scales
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She's No Devil's Advocate: Lawyer Takes New Job as a Nun
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Kilpatrick Stockton Expands in London; London Office to Add Group of 25 Lateral Lawyers
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Law Professors See Pay Plunge
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Last Call for Rudolph & Beer Law Firm
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Convicted in His Family's Murders, He Lands Job at NYC Law Firm
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Credit Firm CFS Execs Face Federal Charges
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Wilbur Ross enters Burlington bid
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Energy:

Seitel files its plan for reorganization
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Seitel files for bankruptcy, Berkshire to finance
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Mirant's assets fail to stave off bankruptcy
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After Bankruptcy Filing, New Set of Rules Governs Mirant
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Fitch Comments on PEPCO's Exposure To Default By Mirant
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In Wake of Bankruptcy Filing, Mirant Investors Resigned to Loss of Stake
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Declining MTBE sales claim two victims - One files Chapter 11; another closes plant
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Texas Petrochemicals, affiliates file Chapter 11
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NRG power contract seen affecting other bankrupt firms
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Conn Groups Ask FERC To Require NRG To Uphold CL&P Contract
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All Star Gas Corporation To Restructure Debt In Voluntary Chapter 11 Reorganization
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Firefighters' bill lands in Crown Pacific's bankruptcy
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Recent Going-Concern Statements
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Corporate Self-Dealing Isn't Always Improper, Experts Say
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CEO of Baltimore-Based Air Pollution Control Firm Leaves, 20 Workers Laid Off
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Mohawk to buy Burlington carpet unit
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New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Asbestos:

Plaintiff Lawyers Plan To Appeal ABB's Asbestos Plan
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Judge Sets July 31 Hearing For $1.2 Billion ABB Asbestos Deal
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City wins suit against asbestos materials maker
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Halliburton seeks to extend stay on asbestos suits
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Company buys time in asbestos cases
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Bankruptcy court OKs hefty Spiegel bonuses
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Bankruptcy Court Commits to $20M Lease Extension
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Corporate Reform:

One Year Later, The Impact Of Sarbanes-Oxley
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Navigating Sarbanes-Oxley waters alone is too risky
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Proxy Battle Shaping Up -- at the SEC
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Boardrooms Under Renovation - Scandals Prompted Changes, but Critics Say More Are Needed to Prevent Another Enron
(WSJ: separate paid subscription required)

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Victims of Verola's scam won't get restitution, bankruptcy judge says
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Martha Stewart's lawyer requests leak inquiry
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England:

A tale of two cons: Jeffrey Archer
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A hard cell
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UK plc still facing Enron-type threat
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MyTravel nears deal with bondholders
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Banks ready to accept Le Meridien losses
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UK boardroom rules watered down
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Canada:

PanGeo Pharma sells vitamin, herbal lines
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B.C. forest company Doman wins yet another extension in bankruptcy protection
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Brazil:

Brazil pays price for drive to rein in inflation
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VW laying off Brazil workers by thousands
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Australia:

Court told Bell creditors 'left with nothing'
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Keeling creditors agree on deal
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Bell creditors' day in court looms
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Marathon claim launched on banks that backed Bond
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Indonesia:

IBRA fails to find buyers for huge loan assets
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Germany:

Big fines for German insurers
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Saban chases KirchMedia assets again
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KirchMedia creditors weigh their options
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Thailand:

Thai Petrochemical Industry Director Pitches Restructuring Plan
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Thai Bank Ready To Bail Out TPI Polene
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