June 17, 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

         
US top court to review rates charged to bankrupts
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The Case
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Airlines:

Canadian federal cabinet set to give troubled airline industry break on costs
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Air Canada pilots mad at seniority ruling
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Hawaiian Airlines receives second extension
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Ruling infuriates Air Canada pilots
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Enron:

Prosecutors digging in against Fastow delay
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Another judge named to mediate Enron lawsuits
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Lea Fastow tells judge husband to testify for her
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Analysts Uncertain Whether Lehman Mortgage - First Alliance Fraud Verdict Will Affect Lenders
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Lehman Bros. Helped Cheat Borrowers
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Accounting:

Mayer buys four firms, opens Denver office
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Grant Thornton formulates plan to restore credibility
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SEC May Force Defendants to Pay Up
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Ex-Peregrine Sales VP Pleads Guilty in Fraud Case
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US Crt Dismisses Philippine Music Unit Bankruptcy Status
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Louisville Orchestra board delays filing for bankruptcy
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Energy:

National Grid Cos Seek Prepayment From NRG Power Plants
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TransTexas Gas Reports First Quarter Results
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Morgan Stanley ups PG&E to 'overweight'
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California Pension Fund Challenges Mirant's Restructuring Plan
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RedZone out of Chapter 11; a slightly different company
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Do they dun you wrong? Debt collectors owe proof
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Alabama: Unique Worldwide Services Declares Bankruptcy; Alleged Victims in Scam May Not Collect A Cent
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Consultants weigh in on L.L. Bean-Eddie Bauer synergy
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Horsehead sale meets objections
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Economy:

Stocks surged to their highest level in nearly a year
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  Deltagen:

Deltagen contemplates Ch. 11
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Drug Co. Deltagen May Seek Bankruptcy
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Law Firms:

Under the gun - Not only must securities firms keep e-mail, but under a new decision they may also have to foot the bill when a plaintiff wants to go on a fishing expedition
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Lawyer gets prison for arranging over 200 'land flip' deals
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Hired Guns
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NY Summer Associate Moonlights in Pro Football
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Firm Bills Zero in May
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Wachtell lawyers face court appearance against client Martha Stewart
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Bass, Berry & Sims tops corporate law firm survey
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Firm Raids Two Of Rival's Offices
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Allen & Overy faces yet another storm over conflicts
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'Noisy withdrawal' draws howls from legal groups
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Study Reveals Top Corporate Law Firms in America
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Duane Morris opens San Diego law office
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Conseco:

Hearing turns to Hilbert loans
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Conseco: Several Bidders Interested In GM Building
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Conseco Reorganization in Limbo, But Bankruptcy Hearing Goes Ahead
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Steel:

Union Urges Weirton Steel Execs To Swear Off Bonuses
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Weirton Steel Gets Final Court OK For DIP Financing
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Steelworkers OK new contracts with International Steel
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Inquiry finds no conspiracy in Level Propane case
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Rite Aid's Ex-Chief Executive Grass to Plead Guilty
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More guilty pleas in National Revenue case
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Tower restates income again
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Kmart Loss Narrows, Stock Jumps
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Credit insurers return to profit
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Luby's Announces Third-Quarter Results
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Maine, N.H., bankruptcy filings rise amid weak economy
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New Bankruptcy Opinions
(5 new opinions today)

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Telecoms:

WorldCom creditors appeal EDS pact decision
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MCSi Gets Court Approval for $10 Million DIP Financing
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Geltzer named Asia Global Crossing trustee
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Clothestime:

Vendors File Involuntary Chapter 7 Petition on Anaheim, Calif.-Based Retailer Clothestime
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It May Be Close Time for Debt-Ridden Teen Clothing Retailer in Anaheim, Calif.
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Uncertainty over future of Cordiant increases
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Creditors object to ANC sale
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Former DLJ Execs Sued Over Their Role On AmeriServe Board
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Hundreds of library subscriptions in limbo because of Divine bankruptcy
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England:

WPP and Publicis 'lodge new offers to rescue Cordiant'
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Canada:

Travel industry makes bailout plea
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Germany:

KirchMedia's Liquidation Will Take At Least Another 10 Years
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Japan:

Japan's SMBC says accelerating loan disposal drive
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Japan Lowers Economic Outlook As Signs of Weakness Emerge
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Korea:

Korean union fights SK Global bailout
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SK Telecom refuses to offer 'unfair aid' to SK Global
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Mexico:

Bank of Mexico sues four major banks over bailout loans
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Grupo TMM Announces Formation of Bondholder Committee
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Bangkok:

Creditor comes knocking - Japan Bank wants money back at once
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