March 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

         
Airlines:

United unions' pacts in jeopardy
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American Airlines Has Best-Known Bankruptcy Attorney at Helm
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BA Refuses To Bail Out American Airlines
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TWA Vouchers Ruled Invalid After Sale of Airline's Assets
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The Pack Is Watching UAL's Chief
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Unions Under Deadline at United Airlines
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United chief warns of more cuts in event of war
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Midwest Express Hldgs Continues Aircraft Financing Talks
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Ford Took $40M After-Tax 4Q Chg For UAL Leases
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Ailing airlines can't afford war
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Key court date nears as US Airways prepares to emerge from Chapter 11
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Analysts: AA bankruptcy now 'likely'
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Airlines need to learn to fly on their own
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British Airways braced for further cuts
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Midwest Air's bittersweet 717 launch
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United will seek to void union deals
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Airline broke? Then so are you
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Following Buyout Guys Can Be Risky
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Airlines begging for shelter
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Others Are Ready to Fill Gaps if Major Carriers Fail, Continental CEO Says
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Airlines See Funding Spigots Close
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Air Canada, unions keep talking
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Crash puts spotlight on contracts
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Fund Dominates US Airways' Board
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Air sickness
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United Failure Another Replay
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People Keep Flying American Despite Woes
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Workers' paradise
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Airlines and travelers struggle as nation faces war
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Bankrupt San Antonio-Based Toy Store Reduced to Keys, Documents
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Is Ford going to go bust?
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Bankruptcy boom looks like it is here for awhile
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Asbestos:

Asbestos crisis undaunting
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Armstrong Files Amended Chapter 11 Documents
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Halliburton meets settlement deadline
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Outlook Brightens for Action on Asbestos - Lawmakers are closer on the issue
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Owens Corning seeks more time for disclosure
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Halliburton Files Affidavit on Asbestos Settlements
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WR Grace: Sees $282.6 Million From Settlement With Insurers
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WR Grace Puts Asbestos-Related Liability At $973.2M
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Corporate Reform:

Icahn Blasts Boards, Sees Gold in Apparel
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Linking Wall Street to Frauds Isn't an Easy Task, GAO Finds
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Getting a grip on Sarbanes-Oxley
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Kozlowski Says Tyco Owes Him Millions
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Sick of debt
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Energy:

PG&E chief defends restructuring plan
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Decision by Regulators Helps Aquila Defuse Potential Financial Problem
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PG&E, regulators still at odds in utility's bankruptcy
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Trinity Energy Resources, Inc. Provides Update Related to Reorganization Processing
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NRG Asks Court To Dismiss Chapter 11 Petition From Shaw
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Crescent Operating Files For Ch 11 Bankruptcy In Texas
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Caribbean Petroleum: Plan To Go Effective March 24
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  Bankruptcy Reform:

Bankruptcy bill likely to get House OK 
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Credit counselors busy as debts strain millions
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Daw Tech Failing on Back Pay
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Workers left out in layoff law
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Longview Aluminum, Lynch Request Formal Investigation Into Actions of U.S. Trustee Joseph Baldi in McCook Metals Bankruptcy
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Icahn Lambasts Bankers at Gathering
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JPM passing into history
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Enron:

The CSFB Seven
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Former Enron workers carry on — without much help
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Foreign lenders ready to exit Dabhol project
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Overseas Lenders Threaten To Quit DPC, Seek $339-m Repayment
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Telecoms:

Marconi's restructuring fees cost £75m
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WorldCom tells a tale of stunning stupidity
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Metro Fiber files reorg plan
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AT&T calls WorldCom an industry `wild card'
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WorldCom asks for more time to file assets
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Broadwing Sues WorldCom Units in Contract Dispute
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War Drums May Provoke Problems With Liquidity
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Accounting:

Auditors should end tax role, says Volcker
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Ford to bring $1.7bn SPE exposure onto books
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Bean counters' mate
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Chiquita asks SEC help on Chap. 11 write-downs
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Auditor protection on the cards
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Tax advice sparks $4M suit against Ernst, KC law firm
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Valuing private companies is an imprecise, subjective art
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Unsecured creditors could face rough seas
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Strange saga ends with new owners for bankrupt Herndon firm Treev
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Silicon Valley:

Wake of the crash
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What Silicon Valley wants: a new lease
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Rx for sick companies
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Steel:

Wheeling-Pitt Tries Again With Loan Board
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Salaried Steel workers still fight
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Steel retirees face coverage choices
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Bethlehem Steel seeks April 22 hearing on proposed sale to ISG
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Divine Hires Criminal Defense Attorney
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Creditors of Bankrupt Maine Paper Mill Could Be Liable for Payment Paybacks
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Keene Corp. Creditors Trust Loses Suit Against Genlyte
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Auction of idle Great Northern Paper mills looms
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Struggling eyewear chain leaves customers stranded
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Facing Economic Music
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The Wiz:

The Wiz goes bust again
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THE WIZ Commences Bankruptcy Proceedings
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WHX Unit Amended Filing -2: "Strengthens" Application
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Past few years were tough on Oregon companies
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Hawaii: Lawyers cast complicity blame on Sia’s brother
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Goldman Sachs Braces for More Layoffs
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Disbarred lawyer who ran debt reduction service indicted in Vermont fraud case
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Shreveport: Committed To Casino, But Bankruptcy Possible
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Debt forgiveness may come at a price
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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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Judge OKs sale of Conseco Finance
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Bankruptcy lenders remain in high demand
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Hockey:

Golisano unveils bid for Sabres
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Golisano rescues Sabres
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Sabres sale is approved
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Yash still expects his cash
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Spiegel:

Debt Rattle at Spiegel?
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Spiegel Changes Management for Third Time
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Warning signs hinted at big fall for Spiegel Inc.
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Averting the crisis: Gary Goldstick helps companies avoid bankruptcy
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Bankruptcies cast shadows on several industries
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"Mailbox Presumption" Applied to Filing of Claim

Bankruptcy blues: Kmart workers face job loss, tough search
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Morgan Stanley Backs Out of Bias Suit Settlement
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4th credit bureau is up& compiling a file on you
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Advanced Lighting Gets Final Court OK For DIP Financing
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Law Firms:

The brand name game
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Biglaw Firms' Feud Goes Public
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Nixon Peabody Gets Trio of Franchise Attorneys
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Broke Brobeck Finds Defense Counsel (Temporarily)
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Office consolidation brings savings but no huge windfall for law firm
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Law firms embrace business development — at last
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Local, state government agencies face financial challenges in battle for talent
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Squire expands at Scripps Center: Law firm could grow by up to 50 employees
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Formal complaint: Casual still suits local lawyers, litigators
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Politically Connected Law Firms Cash In
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Stigma aside, Chapter 11 can spell recovery
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Lernout & Hauspie's Unsecured Creditors File Ch 11 Plan
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Assets of WSNet sold to EchoStar for nearly $2M
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Ingenuus Files For Ch 7 Liquidation In Oakland, Calif
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Economy:

An economy on hold
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Falling Economic Confidence Reveals a Generation Gap
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England:

Consumer debt burden imperils homeowners
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China:

Bankruptcy Laws Need Review
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China's Banking Regulatory Body Born (
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Switzerland:

Setbacks shake pillars of Swiss economic stability
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Argentina:

Argentines turn bankrupt factories into successful cooperatives
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India:

Checking On Bouncing Cheques
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Germany:

KirchMedia agrees TV sale to Saban
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Deutsche Bank's Chief Wants The Creation of Bailout Plans
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_______________________

Japan:

'Bogus' theme parks becoming the last resort
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