March 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

         
Airlines:

AMR said seeking bankruptcy funding
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American Airlines stock falls on bankruptcy talk
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UAL unions, TPG face obstacles
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United mechanics weigh union switch - Machinists authorize vote on changing to rival labor group
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United outlook unchanged by sunset provision
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Comment by union hurts AMR
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US Air Union Objects to Bankruptcy Plan
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Denver Airport Looks for Other Airlines to Fill Gap if United Cuts Services
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Is Worst Ahead for Airlines?
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Spiegel may be taking last order
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Prominent bankruptcy lawyer suspended on fraud charge
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FAO Schwarz to keep its Boston location open
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American Tissue:

Tissue Execs Blew $300m
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American Tissue Indictments
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Enron:

Charges loom in Enron probe
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Enron Probe Examines Firms' Roles - McKee Nelson and Akin Gump scrutinized over tax work
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GOP Consultant Named in Enron Ruling
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Enron hire of consultant not favor for Bush, elections board says
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NTPC, lenders hold talks over Dabhol Power
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Enron Seeks Court Approval For A SPE-Related Settlement
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Full Text Search Second Interim Examiner Report and Appendices

The Examiner Report - Appendix A - Appendix B - Appendix C - Appendix D - Appendix E - Appendix F - Appendix G - Appendix H - Appendix I - Appendix J - Appendix K - Appendix L - Appendix M - Appendix N - Appendix O - Appendix P - Appendix Q
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Fountain View seeks summer Chapter 11 exit
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Today's Man Can Use Lenders' Cash Collateral To April 4
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Accounting:

KPMG To Pay $200 Million To Settle Suits
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Stock options face vote
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Who killed Arthur Andersen?
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What You Don't Know About Sarbanes-Oxley - Snares, pitfalls, and trapdoors? Sarbanes-Oxley is full of surprises. Here's five that top the list
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SEC v. KPMG LLP, et al.
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Buffett Cracks Down on Corporate Board/Auditors in Annual Investor Letter
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Declining Restaurant Sales Force Denver Celebrity Chef to File for Bankruptcy
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  Asbestos:

Court allows asbestos anxiety claims
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Supreme Court Gives Boost to Those Claiming Asbestos Injury
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Asbestos litigation threatens small businesses
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Ruling Widens Asbestos Liability
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Owens Corning Seeks More Time To Get Ch 11 Plan Votes
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Boutique lender also files for bankruptcy
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Bankruptcy Reform:

Bankruptcy bill on fast track
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A Proposal For More Effective Bankruptcy Reform

Section by Section Analysis of H.R. 975
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Critical Substantive Issues for Meaningful Bankruptcy Reform
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Energy:

Allegheny's annual meeting canceled, pending restatement
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SEC may charge Dynegy venture - Nicor accounting being questioned
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Capital One Says It Gave Some Lenders Advance Notice of Investigation
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Economy:

How bad can it get? Bad
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Hudson seeks other offers
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Conseco:

Berkshire's Conseco behavior wasn't very Buffett-esque
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Berkadia offer snags Conseco deal
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Conseco:Finance-Unit Sale Hinges On Deal With Fannie Mae
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Steel:

Wheeling-Pitt won't give up
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AK Steel, USW unit at National to talk
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Companies Launch High-Stakes Bidding War for National Steel's Assets
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Private equity fund agrees to buy bankrupt Wire Rope Inc.
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Union Calls on Steelworkers, Retirees to Fight `Legalized Swindle' of Health-Benefit Termination
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Consolidated Freightways Signs Letter of Intent to Sell Canadian Freightways Ltd.
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Fountain View Files Plan of Reorganization
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Poll Finds Texans Opposed to Use of Credit History in Setting Insurance Rates
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Smith-Dale Inc. files for Chapter 7 bankruptcy
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Philadelphia: Neil Stein files for bankruptcy
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Execs buy Laughlin-Wilt from bankrupt Viasystems
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Jobs 871 Jobs - Last Updated February 3, 2003
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Malden Mills CEO aims to buy it back
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Wade Cook firm goes to court over use of client list
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Telecoms:

Global Crossing Harmed by Lawyers' Failure to Probe Allegations
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Global Crossing creditors reaffirm support for reorganization
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Local and national bankruptcy attorneys scratched their heads Monday, but at first glance, they could find no precedent in the United States for a single state agency declaring itself bankrupt
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Rand McNally Gets Court Approval To Pay $1.7M In Bonuses
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Kmart:

Kmart axes top managers
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Debtors turn to counseling
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Acoustiseal's trustee sues a creditor
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Insilco Receives Approval of Asset Sales
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Dairy Mart Wins Confirmation Of Ch 11 Liquidation Plan
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Law Firms:

Georgia High Court Bars Lawyer Occupation Tax
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Binding the Firm With the Big Lie
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McDermotts boosts IP as PPP smashes $1m
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Clifford Chance Braces for Drop in Profits Tied to London Lease
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England:

Senior Partner In Closed Law Firm Made Bankrupt
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100 year old UK company goes to the wall
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Fitch worries about 24 credit derivatives players
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Indonesia:

APP Debt Restructuring Threatens Diplomatic Furor
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Germany:

Kirch creditors demand quick bid decision
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South Africa:

Court rules on cross-border case
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Australia:

HIH liquidator seeks $A5.3B
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