March 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

         
Airlines:

Kirkland & Ellis bills $5m for United restructuring
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US Airways trustee opposes plan on eve of hearing
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Airlines Press Workers For Deeper Cost Cuts
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Feds Object to US Airways' Reorganization
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American Airlines begins negotiations with union
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For Pension Chief, US Air Is Another High-Profile Move
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Crunch time for United Airlines labor talks
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US Air creditors back revamp
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Worldspan CEO Blackney To Step Down If Sale Is Completed
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At American Airlines, pace of negotiations picks up
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Congress may speed aid to airlines if war develops
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United Asks Judge to Void Contracts
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Worldwide Medical employee retention plan OK'd
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Kmart:

Accused former Kmart execs waive initial court appearance
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Kmart Objects to Fleming's $1.4B Claim in Chapter 11 Case
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Accounting:

IASB and banks clash over derivatives
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Andersen Partners Are Added As Defendants in Retiree's Suit
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Rite Aid Settlements Yield Millions As KPMG Pays $125 Million
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US groups warn of impact of accounts move
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New Rules Regarding Disclosure of Non-GAAP Financial Measures
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SEC Adopts Auditor Independence and Workpapers Retention Rules
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Accounting firm head calls for expansion of auditors' responsibilities
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Asbestos:

Grace wins DIP extension
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Armstrong World Industries Proposes Payment Plan for Asbestos Settlements
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Asbestos Claims Criteria and Compensation Act of 2003 (introduced in Senate)
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Congoleum Corporation Seeks Bondholders ' Consent to Amend
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Valicert's Auditor Raises Going-Concern Doubt
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Rattled Workers Seek Advice On Finances From Counselors
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Warner Bros. appeals to Supreme Court in Case Holding That Israeli Stay Precludes California Suit
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  Bankruptcy Reform:

Why a new bankruptcy bill could fail again
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Proposed Bankruptcy Provisions Threaten Courts And Consumers, Warns American Bar Association
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Bankruptcy Puzzler: Economy or Reform Behind 15% Jump?
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Law Firms:

Corporate Lawyer Feud Goes Public
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Simpson Responds
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Controversy Surrounds Dewey's Closure of Its Hong Kong Office
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Oppenheimer to accept bids for Palo Alto office
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Law Firm Sanctions Vacated by 2nd Circuit
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Staffers Sue Brobeck Over Severance Pay
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Holland & Knight Elects Leaders
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McDermotts takes over West Coast biotech specialist
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Firm's Partnership Plan Leaves Some Light in the Wallet
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Clifford Chance acts for Wang estate administrators
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Firm Continues Pursuit Of Merger in Downturn
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Wall Street elite in fresh raids on Linklaters, A&O
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Law firm serving as a bridge amid globalization
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$1.32M buys house Erpenbeck property sold
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Energy:

Trinity Energy Resources outlines motions filed
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ANC bids for DIP funding
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Telecoms:

Creditors OK Microcell reorg plan
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WorldCom Seeks Court OK Of Discount Plans With SBC Commun
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Microcell's creditors approve plan to restructure
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Marconi delays debt swap completion again
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Switch and Data snaps up PAIX.net
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Marconi to Pay Creditors 340 Million Pnds as Part of Debt Plan
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iPCS creditors hold first meeting
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Adelphia receives bankruptcy court extension
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Judge Sets Trial Schedule In Trump-Conseco Dispute
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Medicare Insolvency Now Expected By 2026 Z
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Stone Harbor operations company files for bankruptcy
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Required)

 

 

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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Chapter 7 Lawyers Could Get Paid From Bankruptcy Assets
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Los Angeles Bankruptcy Lawyer Pleads Guilty to Providing False Information in Two Bankruptcy Petitions
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Sarbanes-Oxley Impact on D&O and Fiduciary Insurance
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Spiegel:

Credit woes pull Spiegel into Ch. 11
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Spiegel Gets Court's OK For $150M in Interim Financing
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Parent Of Spiegel and Newport News Catalogs Files For Chapter 11 Bankruptcy
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Eddie Bauer parent Spiegel Inc. files for bankruptcy
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Spiegel liquidates bank that runs Albany center
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Enron:

SEC Charges Four Former Merrill Execs
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Report criticizes banks over Enron
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Furniture on block for Enron's third Houston auction
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GAO Says Investment Banks Could Be Sued Over Enron Deals
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Enron Garage Sale
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Struggling To Avoid Bankruptcy, Elan Sues King Pharmaceuticals for Sale
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Trustee In SLI Inc Case Objects To Sale Plans For Unit
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Hurt Paper-Mill Towns See Rays of Justice in Indictments
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Bad loans up at SunTrust
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Steel:

Wheeling-Pitt may get second loan
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Korea:

Creditors eye SK Globalís auditor in damage suit
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England:

Current Distressed Companies Update
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Australia:

HIH has a silver lining, and bosses want a cut
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Germany:

Saban clinches key Kirch assets
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