June 19, 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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DIP Dimensions: NRG Energy Inc. - Regulatory headaches are making it difficult for the Minneapolis utility to maintain access to its $250 million loan
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Airlines:

Irate Air Canada pilots due to vote on deal
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United names general counsel
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Airline Shares Beat the Odds
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ANC:

Judge approves ANC auction plan
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ANC gets approval for asset auction
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Law Firms:

Downsizing Firm Looks at Sale of Euro Satellites
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Limiting professional liability is not the only reason why law firm managers should find taking LLP an attractive prospect
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Firm Considers Merger Under Pressure
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US Firm Mintz Levin Launches London Satellite
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NY Firm Woos Banking GC
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Allen & Overy "King" spotted
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NY Firm White & Case Doubles Size Of London Outpost
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Greenberg Traurig hires Couderts trio
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Jones Day who?
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In Martha Stewart's Corner, a Tough Cookie
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Impasse stalls liquidation of Conseco unit
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Scrushy Offers Testimony for Immunity
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Trustee Recalls Some Payments of Bankrupt Great Northern
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Little Chute native Susan Kelley appointed to federal bankruptcy court
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Many in debt to plastic, but few try to pay it off
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Steel:

Wheeling-Pitt set to bolt Ch. 11
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Retired National Steel Corp. Workers Concerned about Health-Care Benefits
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Wheeling-Pitt poised to emerge from bankruptcy
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NatSteel wins OK to settle EPA lawsuit
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Music's US unit emerges from bankruptcy
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Court OKs Sale Of Auspex Systems Patent For $8.9 Million
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Exide Creditors Seek Battery Maker's Insurance Documents
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Lawyers find riches in companies' dirty laundry
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Mortgage.com bankruptcy deal may net $4.55 million
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Spiegel Seeks Court Approval Of Employee Retention Plan
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Denver-Area Adviser Vows to Repay Debts; Creditors Split on Man's Fate
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Dot-com IPOs learn tough lesson in survival
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Trend Technologies Gets Approval For Settlement Plan
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Wall Street:

The SEC is taking aim at corporations that retaliate against Wall Street analysts
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Lehman Faces New Charges
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Cashing a check when your customer includes "conditions" and "paid in full" on the back
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  Letter from Delaware - Asbestos liabilities, WorldCom, New Jersey's bankruptcy industry and more
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Comfort level - Complex restructurings are coming to an end in Europe, but workout firms keep expanding
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Energy:

NRG, CL&P to slug it out at hearing
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Judge Promises Quick Ruling on Voiding Connecticut Power Supplier's Contract
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No Final Decision From District Crt On NRG-CL&P Order
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Bankrupt NRG asks FERC to reconsider decision
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NorthWestern feeling financial pinch - company working to avoid bankruptcy
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Transatlantic row erupts over Chapter 11
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Officer & Director Liability in Financially Troubled Corporations
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Asbestos:

Hatch hopes to jump-start asbestos fund plan
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Panel set to vote on asbestos bill
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Sen Hatch To Start Work On Asbestos Bill Thursday
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Asbestos ad war on eve of US committee debate
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ABB Shares Up on Talk of Asbestos Verdict
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The Current Crisis in Asbestos Litigation

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WestPoint Stevens wins final DIP OK
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Mortgaging scams rising
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Maine Judge Orders Paper Mill Workers to Take 7.5 Percent Wage Cut
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Healing The Church
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Read-Rite going out of business
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Comdex to emerge on smaller scale
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Bankruptcy Ruling Clears Way For Worth Magazine Sale
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Borrowers dealt a blow as judge denies class action against lender
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SEC targets AFG president
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Louisville: Mediator to lead session today with orchestra, board - Bankruptcy filing on hold while players, directors seek alternatives
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Commuter levy feared if Pittsburgh bailout stalls
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NHL Approves Sale of Senators to Melnyk
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Bankers anticipate growing loan demand
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Does DIP Lending Guarantee Payment of Your Postpetition Credit Sale?
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Accounting:

Freddie Restatement May Be Big
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Management Fraud Puts Auditors Between a Rock and a Hard Place
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Cablevision Fires AMC Chief in Accounting Probe
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Tax treaties could be made illegal
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Mississippi Chemical Furloughs Workers
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Rescue of bankrupt Lexington Fabrics in works
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RoweCom Seeks More Time To Solicit Votes For Chap 11 Plan
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Bankruptcy Judge Grants Frisby Technologies' Assets Sale
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U.S. Auto Makers' Troubles Deepen
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Portland archdiocese eyes bankruptcy
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New Bankruptcy Opinions
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Telecoms:

Judge OK's NextWave partnership
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General Communication, WorldCom Work Out Settlement over Debts
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At Dobson, a Death-Defying Rebound
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Leap Wireless must amend reorg plan
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Court Denies Bid For Equity Panel In Leap Wireless Case
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WorldCom suit will involve ex-exec and Merrill Lynch
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MCI 401(k) Plan Case Against Ebbers, Merrill To Continue
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Capellas: It ain't over for WorldCom
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Telecom Industry Leaders Say They Are Making Do with Fewer Resources
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World Com's rip off victims
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Touch America workers laid off by e-mail
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CenterSpan Communications Takes Extreme Measures to Save Company
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Chapter 11 Bankruptcy Process Presents Acquisition Opportunities
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Aladdin:

Bidder status murky
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Officials silent on Aladdin bid qualifiers
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341 Meeting of Creditors Examines the Debtor in a Bankruptcy Filing
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Enron:

Sentencing Postponed for Ex-Enron Execs
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Thailand:

Japanese Creditors Complain of Unfair Treatment in Thailand Strip-Mill Case
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TPI creditors weigh strategies to appeal Finance Ministry's status contentious
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England:

Hollinger Inc. Abandons Stock-Redemption Plan
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WPP to Buy Ad Rival Cordiant for 266 Million Pounds
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Jailed Author Jeffrey Archer Wins Parole
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Norway:

Petroleum Geo-Services Reaches Restructuring Agreement
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Australia:

OpenTel staff on hold for their entitlements
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Japan:

Capital rules 'will hit more Japanese banks'
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Germany:

German Leaders Approve Economic Reforms
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Colombia:

Avianca says Chapter 11 debts more than announced
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