July 7, 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:

Air Canada, GE Capital reach deal
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Joshua Gotbaum Named Trustee For Hawaiian Airlines
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American Airlines' Former CEO Defends Perks that Led to Exit
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American Airlines to Offer Notes Backed by Seven Boeing Planes
(WSJ: separate paid subscription required)

Atlas Air may file for 'pre-negotiated Chapter 11' bankruptcy
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Summer of Turbulence for Airlines
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Did vultures do homework on Air Canada?
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United asks SEC for end to stock plan
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Air Canada executives get backing
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Air Canada close to C$1.86bn financing deal
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Air Canada investors cling to fantasy
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Air Canada execs given parachutes
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Air Canada Dodges Liquidation Bullet
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Adelphia Creditors Sue Top Banks
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NationsRent rising from bankruptcy's ashes
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Philip Services Lenders Ask Court For Separate Committee
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Reverse-preemption of Code's transfer provisions

Accounting:

I.R.S. Takes Aim at Big Shelters and Hopes Message Filters Down
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Arthur Andersen died in vain: Despite the limelight of public scrutiny plus a new federal law, accounting reform still falls short of mark
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Bush Signs Bill to Speed Accountant Hires
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State regulators wrestle with SOX
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Dutch public prosecutor starts criminal investigation of Ahold
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Minority-Run Newspaper in Tulsa, Okla., Files for Bankruptcy Protection
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Office rents declined in the second quarter and vacancy rates edged higher as the U.S. economy continued to shed jobs
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GenTek Faces Motion Seeking To Question Former Executives
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Credit bureaus screening for terrorists
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Expected Bankruptcy Sale of Las Vegas Casino Produces Winners, Losers
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Bankruptcy not a deal-breaker
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TransCare set to emerge from Ch. 11: Plans to pursue growth strategy in three markets
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The Mensch Of Malden Mills
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Bankruptcy law firm sued for $20M
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Asbestos:

Insurers Threaten to Oppose Asbestos Bill
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Insurers May Pull Support From US Senate Asbestos Bill
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Ne'er-do-well under roof drags down their credit
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Telecoms:

WorldCom strikes new SEC deal
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WorldCom's Old Holders Get Something New
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WorldCom Hiring Lobbyists For Washington Blitz
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Metromedia Fiber disclosure statement approved
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Judge Approves Reorganization Plan for Waynesboro, Va.-Based Telecom Company
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Investors files objections to Touch America bankruptcy
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Pension agency overwhelmed; faces growing workload, criticism
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HealthSouth investors to get financial update
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HealthSouth to meet creditors, shareholders
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Bankruptcy trustee appointed for nonprofit processing agency
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HomeGold administrator recommends liquidation
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Energy:

Bankrupt Electricity Supplier NRG Energy Might Be Forced to Liquidate
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PG&E's NEG Trading Arm To Suspend Elec,Gas Deliveries
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Some See Fait Accompli Ahead Of Hearings On PG&E Deal
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NRG issues warning to regulators
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Bankruptcy Judge Forces Tenants of Memphis, Tenn., Building to Make Deal
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Goldsmith's demise causes ripple effect in Dallas
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Lease release me, let me go: Landlords are letting some high-risk tenants out of their leases and collecting hefty termination fees in return
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Record Debt Levels Are Good News For EPIQ Systems
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Corrpro warns of bankruptcy risk
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Broke Town's Mayor, Facing Furor, Bows to It
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Oakwood, Galey taking different paths in Ch. 11
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Distressed asset sales can become engine for growth
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Former Mav facing bankruptcy: Roy Tarpley Jr. drew allowance of $10 a week, tackled drug-rehab program
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New Bankruptcy Opinions
(No new opinion today)

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Law Firms:

Summer of discontent
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Lawyer 'Surfs' Into Malpractice Suit
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When the tenant is king
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Arter & Hadden Makes It Official: Firm Will Close
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Altheimer & Gray law firm agrees to dissolve by Nov. 1
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Rivals line up to bag Altheimers teams
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Law firms boost profits
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Law firms think small, bet big with nanotech
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Rivals Aim to Profit From Firm's Demise
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Firm Mulls Closure of Satellite, Partner Looks to Defect
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Law firm's rising profits still rank low
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Move or stay put? Law firms ponder future
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Summer: A hot time for law firms to scout nonlawyers
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Skaddens ends Linklaters’ M&A reign
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Engage Inc Wins OK For Early Hearing On Asset Sale
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England:

Hotel group 'saved' by Saudi Prince
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Meridien Hotels Delays Rent, Gains Loan to Avoid Bankruptcy
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Battle against bankruptcy
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UK execs think lying is best for business
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_______________________

Canada:

Imperial PlasTech to Restructure under CCAA
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Windy Mountain Explorations Ltd. files for bankruptcy after continued losses
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Polyphalt expected to liquidate
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________________

Thailand:

Thai TPI Creditors OK Fin Min Team As New Debt Planner
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TPI's bankruptcy case a test for Act's amendments
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_________________

Australia:

Small turnout for King Bros creditors' meeting
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Newmont's Aussie unit in receivership
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