June 18, 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

         
Law Firms:

Arter Looks for New Lease on Life As It Struggles To Ward Off Dissolution or Bankruptcy
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Lawyers find riches in companies' dirty laundry
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Sheppard Mullin Obtains Decision in $2 Billion Class Action
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Cadwalader Puts Downtown Office Up for Sale
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Morgan Lewis Was Ready to Take On Brobeck's Debts
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Davis, Polk & Wardwell Names New Bankruptcy Partner
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Conseco:

Judge Agrees to Confirm Conseco Plan
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Conseco Finance deal faces delay
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Another CMGI holding goes under
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Automatic Stay Litigation
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Investment Bankers Axed
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Major Creditor of Health, Beauty Aid Supplier Allou Sues Company's Insurers
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Overview of Bankruptcy Basics
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Hennigan, Bennett and Dorman Releases Open Letter to Unsecured Creditors of Peregrine Systems, Inc.
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Cross Media:

Cross Media files for bankruptcy in NY
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Cross Media Marketing Corp. Seeks Chapter 11 Protection During Orderly Liquidation of the Company
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Big bill collector offers scarce jobs
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Archbishop warns of bankruptcy
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Family Golf finally cleared to liquidate
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Kmart: Ed's Big Ka-ching
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Hearing to dismiss Desert Hot Springs' bankruptcy delayed
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Motion filed to appoint trustee in RHC bankruptcy matter
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Delaware raises bar on independence - For the second time in two weeks, a judge has questioned the role of supposedly disinterested corporate directors
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Steel:

Weirton Steel wins OK for $225M DIP
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Port Neches, Texas, Residents Show Support for Sale of Bankrupt Rubber Plant
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Is The Debtor's Tax Refund Subject To Your Security Agreement?
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  Airlines:

TWA workers fight back after demotions, pink slips
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Air Canada pilots seeks emergency labour board hearing on seniority ruling
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Air Canada's Survival Hanging on Pilots' Dispute
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Telecoms:

NextWave to make pitch for Clarity Partners
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April operating earnings increased at WorldCom
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SpectraSite: Not yee-ha nor ho-hum
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GCI Announces Proposed Settlement of WorldCom Pre-Petition Liability
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Court OKs WorldCom Bid Procedures For Sale Of MCI Va RE
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WorldCom/MCI aims to emerge from bankruptcy in coming months
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Court OKs auction for WorldCom building
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Why the WorldCom Cloud Is Darkening
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Trustee Says Focal Commun Plan Violates Creditor Rights
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Bankrupt NextCard submits plan to liquidate
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Chapter 11 Confirmation Issues
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Lehman Could Face Liability Of $80 Million in Pending Case
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ANC:

Cerberus faces ANC creditor objections
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Expert may run car-rental firms
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ANC to Sell Alamo, National Car Rental
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New economy loanshark
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Read-Rite Corporation Files for Bankruptcy Protection under Chapter 7
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Who'll Direct Corporate Directors?
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Utah bankruptcy numbers keep rising at record pace
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Green Bay man faces federal bankruptcy fraud charge
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Baltimore: N.J. company buys some assets of defunct Carr Lowrey Glass
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Offshore Credit Card Schemes
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Ailing Software Firm Dealt Another Blow with Client's Bankruptcy Filing
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Energy:

CalPERS: Mirant 'looting' subsidiary
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Engage to seek Chapter 11
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Pittsburgh-Based Law Firm Says It's Role in PNC Off Balance Sheet Transaction Trouble Was 'Minor'
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Owens Corning Gets Crt OK Of $43M Settlement With Enron
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Asbestos:

U.S. Seeks Policy Solutions to Asbestos Issue
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HealthSouth Debacle Gives Lessons to Members of Boards of Directors
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Special Metals hearing headed to court
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Eagle Food to sell assets, close nine stores
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How to Collect from Anyone (Even Enron)
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England:

No insolvency looms for Hollinger Inc
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WPP Wins Cordiant Lenders, Must Now Win Clients
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Final bow for Arrows with online assets sale
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Major IT recruitment company subsidiary seeks protection from bankruptcy
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Canada:

Gauntlet Energy files for bankruptcy protection
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South Africa:

Banks leave struggling MGX on the ropes
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Calls for a central debtors' register
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Australia:

Million-dollar fraudsters avoid jail
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Korea:

S Korea SK Group Announces Group-Wide Restructuring Plan
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SK Corp., Under Fire for Bailout, Lays Out Costs to Investors
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SK Corp chiefs urged to resign over bail-out (
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Germany:

German March Company Insolvencies Rise 6.2% in Year to 3,396
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Thailand:

Thai Court OKs Siam Strip Mill's Plan; Creditors To Appeal
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