June 10, 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:

Heavy debt payments are weighing on ATA
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Bankruptcy Still a Possibility for AMR
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United looks for the exit
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Alitalia chief says Italy's flagship carrier not going bankrupt
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United And ACA Go To Court - Again
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Fasten your seat belts
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Leaders Try to Craft Deal with US Airways over Pittsburgh-Area Airport
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American Airlines Follows Rival Continental Closely in Turnaround Plan
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Compete, Inc. Finds Woes at United Airlines Give Bank One Mileage Plus Visa Cards a Bumpy Ride; Credit Card Consumers' Online Activities Illuminate Bank One's Exposure to United Airlines
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Sheffield Pharma to liquidate
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Energy:

New boss at ailing utility
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Connecticut Official Urges Regulators to Defend Ruling against NRG
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Bush moves to fill district court judicial vacancy in Nevada with bankruptcy judge
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Law Firms:

Firm Raids Core of Rival's Bankruptcy Team
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UK law firms fail to cash in on insolvency and restructuring
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It's Official: Another Elite NY Firm Becomes LLP
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Top Insurance Litigator James Fitzgerald Joins Stroock
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Firing a Client Without Getting Burned
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Law Firms Cannot Be Held Liable for Clients' Lost Punitive Damages
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Partner's Illness Triggers Defections, Possible Merger
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NY Partners Threaten Revolt Within Euro Firm
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Skadden Trims Associate Benefits
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McCarthy Titrault Dominates the Canadian Legal Market
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Barclays panel review: the results
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Partner at Satellite Takes Reins at National Firm
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More Pocketbook Woes Plague Ex-Brobeck Partners
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Law Firms Merge
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There's No Stopping Associate Trash Talking
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Diversity Scorecard
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Bingham McCutchen in Merger Talks With L.A.'s Riordan
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Steel:

Possible buyer emerges for Rouge steel
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Battered steelmakers await next casualty
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Hockey:

Prospective Sens owner reaches deal to buy arena
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Conseco, Investors Group Battle in Court
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PacifiCare: Concerns Over Medical Group's Payments Hampered Negotiations
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Bankrupt San Antonio Garbage Truck Equipment Maker Pak-Mor to Close
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Portland, Ore.-Based Timber Company Crown Pacific Partners Delays Declaration of Bankruptcy
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  Telecoms:

WorldCom culture called 'poisonous'
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The Reports: 
Examiner
- Investigative Committee
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Congressman and Panel of Experts Urge Federal Judge to Refuse WorldCom Settlement
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WorldCom Settlement Appropriate, SEC Says
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Reports detail intimidation by top WorldCom executives
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Fraud Trickled Down From Top
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Reports on Ebbers lack smoking gun
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WorldCom report gives widescreen version of fraud
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Ebbers was warned of "accounting fluff"
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Worldcom Must Divide Exec Roles: Auditor's Report
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WorldCom Bankruptcy Caused by `Broad Breakdown' in Controls
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Feel-Good Justice - Sarbanes-Oxley punishes WorldCom's victims
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WorldCom ‘ego deals’ led to demise
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Fast deals may have spelled doom
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WorldCom 'was out of control'
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WorldCom board passive
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No Easy Road Ahead of WorldCom
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Examiner says WorldCom had two sets of financial books
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MCI's Board of Directors Comments on Special Committee Report
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Digital Teleport becomes LightCore after CenturyTel buy
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MFN seeks August hearing on reorg plan
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360networks Creditors File Suit Vs Sycamore Networks
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Peer pressure
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Metromedia Fiber to Emerge From Bankruptcy in August
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Louisville Orchestra Files for Ch. 11
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Economy:

Pension Costs Rise, Threatening to Slow Growth
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Accounting:

How External Audits Will Change
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Accountants Can Be Very Creative - Ernst & Young on the hot seat over Tower's books
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Corporate Reform:

SEC balks on credit raters
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Citi, JP Morgan get an "F" for governance
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Asbestos:

Congoleum Corporation Amends Agreement to Settle Asbestos Claims
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Debate Continues about Asbestos Injury Litigation
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Armstrong World Industries' Bankruptcy Case Nears the End
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FAO, Inc. Restructures Board of Directors
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Two Daisytek Intl Directors Leave As Of Ch 11 Filing
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Aetna stands by Greater Southeast
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Not Standing Pat: McCaskill Seeks to Use Classic Bankruptcy to Craft New Deals
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Noteholders owed $80 million pressure Seitel
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Plassein set to learn DIP fate
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Bankruptcy Reform:

House to Vote on Measure To Fix Bankruptcy Quirk
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Another bill to extend Chapter 12
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Dallas-Based Luggage Retailer Files for Bankruptcy Protection
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Enron:

LJM2 Fund Looks to Sue Merrill
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Ex-Enron executive agrees to return to Calif.
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The "Enronization" of America
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Denver: Bankrupt Hoover sells his house
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Victims of Denver Investment Scammer Argue for Bail Revocation
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Mired in debt - Bankruptcy filings rise as more Americans allow the ease of credit to spur reckless spending
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Dog Diagnostic Firm Files for Bankruptcy
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Lawrence bankruptcy case to pay penny on $1
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I'm bankrupt, former Miami mayor Carollo declares
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Consolidated Freightways:

Hundreds of Consolidated Freightways Trucks, Trailers, Forklifts to Be Auctioned
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Federal agency protects Consolidated Freightways pensions
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DataPeer Bankruptcy Rumored
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Martha Stewart:

A Pantry Full of Defense Strategies
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Stewart's secret FBI visit
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An Understudy Steps Up Amid Stewart's Troubles
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HQ Global Holdings Seeks Court OK For New Franchise Program
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England:

Lenders pile into weak property market
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Question mark over £3.5bn Telewest rescue
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Huff blows Telewest rescue off course
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Canada:

Mosaic Group gets extension of bankruptcy protection until July 15
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Hollinger preferred shareholders spurn extension plan
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China:

Shanghai Land Goes Into Receivership Amid Loan Probe
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Korea:

Creditors' lifeline for SK Global
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Japan:

Japanese investors question credibility of bankruptcy law
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Thailand:

Thai Steel Firm's Creditors File Objection over Debt
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Thai Bankruptcy Court's Siam Strip Mill Verdict June 17
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