March 12, 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:

S&P to Remove American Airlines on Index
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UAL files for extension
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Insurance firm to buy US Air's debt for US$1.5b
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Airlines bankruptcies, jobs alert
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Parachute time for plunging American Airlines
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American Airlines drifts towards Chapter 11
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AMR Union Seeks Deal to Avoid Bankruptcy
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War Complicates United's Bankruptcy Strategy
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Airlines warned of nationalization
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'Use It or Lose It' Tops List Of Galling New Fare Rules
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Workers Picket to Save American Airlines; Transport Workers Union Leads Coalition in Nationwide Protest
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War would magnify airlines’ woes
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Carriers' credit crunch
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War Plus Terror Could Be Airlines' Death Knell
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Iraq war could cost airlines up to $13 billion
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United wants 6 months more for plan
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FAA Keeps Eye on Financially Struggling American Airlines
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US Airways Pilots Appeal Pension Ruling
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Air Carriers Seek $9 Billion in Tax Cuts
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Five Airlines Ease Fees in Case of War
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Companies adjust to harsher realities of travel
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Law Firms:

Firm Lays Off Associates
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Ailing Economy, Exacting Performance Reviews
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Leading Team of Franchise Attorneys Joins Nixon Peabody LLP
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Squire Sanders Leads National Bond Counsel Rankings
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Former Texas AG Indicted on Charges Related to Tobacco Litigation
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Historically mired in paper, deal lawyers face an officialdom that is beginning to favor electronic documents
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Man Charged With Burying Attorney Alive to Be Extradited
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Phar-Mor cleared to sell assets
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Abrams Capital Opposes Adelphia Plan-Filing Extension
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Hotel Loan Delinquencies Rise
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Kmart:

Kmart Begins Cutting Executive Jobs at Headquarters
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U.S. Bankruptcy Court Gives Force to Polish and Dutch Courts' Decisions and Orders the Turnover
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Investors take over Bishop’s
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Family Feud at U-Haul
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Derivatives: A Financial 'Time Bomb'?
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CanFreight sold in MBO
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Corus takes own board to court
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ANC Rental: Co Resolves Objections To Agreements
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Arizona Bankruptcy Filings Set Record-Breaking Pace
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  Bloomberg Markets' Magazine Ranks Top U.S. Bankruptcy Law Firms
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Magellan Health:

Magellan Health succumbs to debt
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Magellan's Chapter 11 Petition Lists $1.48 Billion Debts
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Magellan Health Files for Bankruptcy to Reduce Debt
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Magellan Receives Court Authority to Honor All Obligations to Employees, Providers and Customers
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Aetna Extends Contract With Magellan Behavioral Health
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Daw Technologies Files For Chapter 11 Reorganization
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Bankruptcy Judge bars Cook from using database list of ex-customers
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Spiegel:

Spiegel Stops Taking Credit Cards
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Spiegel to Seek Bankruptcy Protection Unless It Gets Financing
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Spiegel may file for Chapter 11 protection
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Telecoms:

WorldCom Report Suggests Ebbers Knew of Accounting Fraud
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IDT still eyes Global Crossing
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China Netcom Completes Takeover of Asia Global Crossing Assets
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Network Commerce Gets Nod To Sell Assets For $500,000
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Global Crossing Report Details Deals with Qwest
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Global Crossing's Probe Clears Execs
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Palmer Johnson files for bankruptcy protection
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Bankruptcy Reform:

Bankruptcy bill on fast track
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House Hearing Testimony
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Employer-offered pensions face record shortfalls, challenges ahead
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Claims could drain U.S. pension agency, director says
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Administration Drafting Proposals to Preserve Pension Plans
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Great Northern Insiders Refuse Turnover Demand
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Energy:

Calif. Court Stays Pacific Gas Reorganization Trial
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Who got how much at PG&E
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Pacific Gas/Court Order: Settlement "Best Avenue" -CPUC
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Spot-Market Surges Hurt Texas Commercial Energy, But Further bankruptcies Unlikely
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Buffett Keen to Snap Up Cheap Utilities
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State opposes PG&E increase / PUC asks court to block higher rates
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Nearly 5,000 dot-coms acquired or shut since January 2000
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Investing in a Bankruptcy?
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Furr's to be delisted from Amex
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New Mexico: Rio Grande Cantina files for Chapter 11 reorganization
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Credit card rates, fees up
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New Bankruptcy Opinions
(1 new opinion 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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Conseco:

Berkshire still on Conseco deal trail
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Conseco Sale Hinges on Fannie Mae Deal
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Insurance chief leaves bankrupt Conseco
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Furniture store's bankruptcy exposes risks to consumers
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The Collector
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Enron:

Prosecutors target Enron's 'Braveheart' deal
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Royal Bank may regain full Enron-linked gas loan: Awaiting court approval
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Enron plant poised for comeback
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Enron law firm nabs top spot on bankruptcy list
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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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Accounting:

Firms Struggle to Understand Sarbanes-Oxley
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Andersen Seeks Graceful Exit to Leases
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Stock options back in political crosshairs
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E&Y Bucks Trend With Expansion in Chicago
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Auto Shares Drop, Ford at 11-Year Low
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Asbestos:

Federal-Mogul Seeks Delay In Filing Disclosure Statement
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Class-Action Asbestos Lawyer's Fee Under Scrutiny As He Gets Paid By Both Sides To Settle
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England:

Business failures set to rise
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Troubled Swansea forced to slash players' pay
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India:

Stop-payment on post-dated cheques illegal
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Korea:

SK Global To Meet Creditors Amid Market Turmoil
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Germany:

Saban set to clinch KirchMedia
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New Zealand:

Tower Trust reports on receiver strategy
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Canada:

Bombardier shares fall on debt downgrade
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