July 9, 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
Search prior headlines at http://bkinformation.com/PriorEditionsSearch.html

         
Asbestos:

Judge in ABB case may not rule until Thursday
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If at first you don't succeed: Texas governor Perry revives asbestos bill - Lawsuit limits clear House panel; plan may have national impact
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Asbestos Bill May Be Halliburton Windfall
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Future of asbestos legislation precarious, lawmakers say
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Energy:

PG&E Corp.'s National Energy Files for Bankruptcy
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NYMEX says PG&E NEG bankruptcy won't affect trading on exchange
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S&P cuts 2 PG&E Nat'l Energy Group units to 'D'
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Bankrupt Texas Electricity Provider Blames TXU, Others for Forcing Chapter 11
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NEG unit bankruptcy takes PG&E back to utility roots
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Seitel Reaches Agreement-In-Principle With Ranch Capital
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FERC yet to act on NRG request
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NRG Asks Federal Appeals Crt To Stay FERC Order On CL&P
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Telecoms:

Pentagon to Oppose STT-Global Crossing Deal
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Pentagon Won't Confirm, Deny Opposing Global Crossing Deal
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Global Crossing sale plan might hit snags on security issues
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Singapore ST Telemedia Still Hopes To Buy Global Crossing
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Global Crossing Owed Up To $60.6M By Microsoft Under Pact
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WorldCom Eyes New Life With Less
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Global Crossing Asks for XO Documents
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Global Accuses Icahn Of Obstructing Merger
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Focal Communications out of bankruptcy
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WorldCom's Forecasts Signal Sector Woes
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Trustee urges Touch America bankruptcy rejection
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Interworks Systems Files for Chapter 11
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Call-Net to buy Mosaic business
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Small Creditors Left Out of Bangor, Maine, Paper Mill Bankruptcy Settlement
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Unsecured Creditors of Bankrupt Adelphia Blast Financial Institutions
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Private Investment Firm Interested in Buying Tower Records
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Foster Wheeler says liquidity problems possible
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Tekno Inc. future uncertain on heels of Chapter 11 bankruptcy filing
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  Airlines:

Cerberus may bid for Air Canada
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Litigation with Allegheny County, Pa., Airport Authority Pressures US Airways
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United Reports Decline in Air Traffic
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Companies That Cater to Travel Business Have Taken Hit along with Industry
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HealthSouth:

12th executive at HealthSouth to plead guilty as probe expands
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Scandal-Plagued HealthSouth Stocks Fall
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Oakwood Homes seeks extension to file exclusive plan
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Sale of Burlington likely this month
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Wanted: A job with security
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U.S. law change may crimp mortgage bonds
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Eminem Buys Ex-Kmart CEO's Estate
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Cable operator files for bankruptcy protection
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Collier Bankruptcy Case Update

SEC Won't Seek Fines From Peregrine
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Wallace Bookstores: $1,000 To Be Returned From $50,000 "Corporate Treasury Raid" Bonus Received Shortly Before Bankruptcy
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Dress Barn suffers $32 mln judgment - Plaintiff in bankruptcy
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Steel:

Pay cut, early retirements part of Wheeling-Pitt contract offer
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Stelco tells union of need for 'across-the-board' cuts at top-level meeting
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Pittsburgh Steel Tube Producer Cooperweld to Terminate Pension Plan, Ask Government to Take Over
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U.S. May Consumer Credit Rises $7.34 Bln
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Rigas-Style Guaranteed Loans On Their Way Out
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Surf Apparel Maker Gotcha to Exit Chapter 11 Bankruptcy
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Chart Indus, Certain US Units Files Chapter 11 Petition
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Bankrupt zinc company to alter sale plan - Horsehead Industries wants to sell assets in auction-style bidding
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N.J. company to buy troubled Prime Retail
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Fake Borrowers Rip Off NYC Mortgage Lenders
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Warnaco: Wachner Told To Defend Suit
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Alterra Healthcare Corp.'s Sales Plan Falls Short, Creditors Say
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Redback Investors Flee Restructuring
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Regulation of the nation's rating agencies may soon change dramatically
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New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Bankruptcy Reform:

U.S. Opposes House Plan on Bankruptcy Advisers
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Fleming unit fetches $400M
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Fleming Cos. plans sale of wholesale grocery business for $400 million
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Las Vegas: Venetian marketing partner in distress
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Time is running out for the volunteer effort to lift the Florida Philharmonic Orchestra out of bankruptcy
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HomeGold:

Investors Could Get Something, But Not Much
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Court to question Emmco officials
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Law Firms:

Texas Firm Lays Off 50 Staffers
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Bankruptcy Team Defects
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Power goes out, but work goes on
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Mendes & Gonzales merger with St. Louis law firm near
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New York litigator faces bill padding suit
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Conseco: Ex-CEO Wendt may testify today
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A Tangled Web? Bankrupt Inslaw and America's Spy Software Scandal
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EEOC Case Against Law Firm Reinstated
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MandrakeSoft sees end to Chapter 11
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England:

Widow's stake adds uncertainty to Cordiant deal
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Canada:

A.G. Petzetakis acquires debt of Imperial PlasTech
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Thailand:

TPI staff in work stoppage, want economic laws struck Employees of state agencies to join in
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Thai TPI Plant Partially Halted By Protest Vs Reform Laws
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Four Firms Eye Bankrupt US-Based Electronics Company's Thai Plant
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China:

Former largest state-run department store in E. China province goes bankrupt
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Korea:

SK Global, foreign creditors still far apart on debt offer
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