June 11, 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:

UAL shares worthless
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SkyWest Airlines, United expand pact
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$935,000 in tools to fix jets missing
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Future Cloudy for San Francisco Airport
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U.S. airline execs not seeing sunny skies yet
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Continental, Northwest out to avoid labor battle
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Air Canada deals can still fail: CAW head
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US Airways Studying Impact Of JetBlue Expansion Plan
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UAL Asks for OK to End Pact With Great Lakes Aviation
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Ghana airways seeks divine intervention
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CEO says NWA has cash, still needs cuts
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Bankrupt Society - Steve and Monica's debt burden is lifted...for now
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Enron:

Major law firm in Enron case prepares to regroup
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Wall Street:

Judge's stern message to Wall Street crooks
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After some behind-the-scenes controversy, Bush picks bankruptcy judge Jones for court spot
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SunCruz's lenders file suit
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Fraudulent and Preferential Transfer Issues Concerning Structured Financing
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Required Pension Fund Contributions Will Exceed $35 Billion, According to FTI Consulting Analysis
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Owner's explanation hard for unhappy customers of bankrupt hearing aid business to hear
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Steel:

Rouge Steel seeks buyer
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Wheeling-Pitt faces June 30 bankruptcy deadline
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ReplayTV Cuts Commercial-Skipping Feature
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Today's Man Seeks More Time For Turnaround Plan
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Louisville orchestra filing bankruptcy
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Farmland agrees to sell beef business for $232M
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Bank to Pay Riverside County, Calif., Tax Bill to Hasten Sale of Hotel
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Reductions in Force: Legal and Practical Considerations
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Wichita: Bankrupt Goldsmith's selling to Lenexa firm
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  Law Firms:

Law Firm Famed in Stockholder Suits May Split in Two
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Federal Regulators Charge Brennan, N.J., Lawyer and Cole Schotz Firm with Hiding Client's Millions
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White Paper Examines Forces Reshaping the Legal Profession
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McDermotts reels as City duo quits
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Oppenheimer downsizing to one office
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Chicago law firm names Boston partner chairman
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Telecoms:

Asia Global feud ends in Ch. 7
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WorldCom revelations give rise to fresh questions
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WorldCom gets more time
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A $66 Million Per Minute Decision At WorldCom
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WorldCom directors' credibility doubted
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Statement From Michael H. Salsbury
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2 Worldcom Execs Quit Under Pressure
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WorldCom dismissed takeover bid
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WorldCom treasurer filed improper documents
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WorldCom Says General Counsel, Criticized in Report, Resigns
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New MCI/WorldCom Reports Confirm Government Should Stop Doing Business With Company
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360networks Creditors File Suit
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Bankruptcy Reform:

House passes Sensenbrenner bankruptcy bill
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3 Tucson businessmen purchase ex-Baptist Foundation of America resort
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Wellspring buys Residential Services
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Asbestos:

Congoleum delays Chapter 11
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The death dividend
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Tower Records Executive Steps Down
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Kaiser Aluminum Gets Extension To File Exclusive Plan
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CFO Magazine Questions the Stability of Securitization, A Common but Misunderstood Corporate Borrowing Tool
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Bankruptcy filing further muddles Palmer Johnson picture
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Accounting:

FASB Seeks to Improve Accounting for Qualified Special Purpose Entities
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The New Rules of Engagement
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Ernst collected $2.6 million from HealthSouth for janitorial inspections and advised that the fees be classified as "audit-related."
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Dead Or Alive, Andersen's Misdeeds Matter
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Brokerage firm sues accounting firm E&Y over MJK Clearing audit
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Ernst & Young partner held in HK corruption probe
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KPMG faces lawsuits for tax advice
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Malpractice Actions in Bankruptcy: Who has the Right?
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Conseco Finance reorg plan hearing moved
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Energy:

Pacific Gas Bankruptcy Hearing Postponed Until June 20
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Mirant Creditors May Block Debt Exchange Offer
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Allegheny Energy Cuts Deal to Revise Pact With California
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The Effect of Bankruptcy on Technology Licenses
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Kmart shares surge
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Korea:

UK fund, unions oppose SK Global bailout
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Banks Agree To Inject Chey's Assets Into SK Global
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Thailand:

Thai Court To Decide Fri On Creditors' Choice To Run TPI
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Australia:

Bus tycoon: I know nothing
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Malaysia:

Bankruptcy Bill To Be Tabled In Parliament Next Week
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Japan:

Japan OKs Bank Bailout Plan for Resona
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Resona admits it leaked memo on FSA influence
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