March 25, 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 We Fall
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For Airlines, The Pain Is Global
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Attempts to get airline aid may fall short
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Focus on UAL military repairs
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Airlines' Aid May Come Slowly; Key Lawmaker Wants to Hold Off
(WSJ: separate paid subscription required)

UAL Judge Delays Ruling With Credit Card Processors
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US Airways gets pension pact
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No airline money included in war spending package
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Air Canada unions prepare for legal fight
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The State of United
(WSJ: separate paid subscription required)

UAL's frequent-flier points losing altitude
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Outlook for travel industry worsens; federal aid bill excludes airlines
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Texas-Based Continental Fighting Spiral Into Bankruptcy
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United's frequent fliers have frequent fears over program
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Avianca pursues card receivables
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Air Canada survival plan eyed
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War layoffs not enough
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Pension Deal May End US Airways' Woes
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United's unions launch airline aid campaigns
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Enron:

Only prosecutors know next move - Top Enron leaders not charged so far
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Citiís Enron Nightmare Just Got Worse
(Business Week: separate paid subscription required)

A deeper look into Enron's fall - Examiner ferrets out line items big enough to hide millions
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Enron's Watkins: Board May Have Saved Co.
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Hindsight on Enron
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Enron's Woes Spawned Use of Ethics Managers
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HealthSouth:

HealthSouth facing inquiry, debt deadline
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HealthSouth Heads South
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HealthSouth Audit Group Met Often
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HealthSouth in tight scramble
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Turnaround Firm Is Hired to Help Stabilize HealthSouth
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Analysts Doubt HealthSouth Can Hang On
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HealthSouth Director Resigns
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More Charges Expected in HealthSouth Inquiry
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HealthSouth workers help feds
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  Telecoms:

Global Crossing Seeks $150 Million Exit Funding
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Democrat Seeks Inquiry on Adviser to Bankrupt Firm
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General DataComm Gets More Time For Reorganization Plan
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Law Firms:

Cooley's Crossroads
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Wanted: Cummings Merger Mate
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Looting LA-LA Land
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Top 10 Highest-Grossing Southern California Firms 2002
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Clifford Chance Partner Continues Feud With Firm
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NY Lawyer Snared in Crazy Eddie Imbroglio
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Houston Litigation Partner Defects to NY Firm
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Accounting:

The Rise of the Wall Street Tax Machine - The Next Big Scandal?
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SEC Rebukes AICPA on Standards-Setting Posture
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PwC in drive to earn EU consulting contracts
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EU Commission rules out cap on auditor liability
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____________________

Farmland:

Canadian firm bids $122M for Farmland plants
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Koch isn't alone in wanting Farmland
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So Long, SonicBlue
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Eleventh Hour Bidder Awarded Great Northern's Assets
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Steel:

Retirees, PBGC press BethSteel court fights
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Judge denies retirees í request for extended health benefits
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Employment at Bethlehem Steel ending
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______________________

Ohio home foreclosures hit record high
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National foreclosure rate at a high
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Mortgage Delinquencies Decline
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Retailers Adjust Reluctantly to Era of Permanent Discounts
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Malls to buy back Emporium leases
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SLI:

SLI Reaches Pact In Principle With Its Lenders, Creditors
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SLI flips its switch back on
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SLI plans to emerge from bankruptcy by summer
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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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Bankruptcy Reform:

Reform should balance corporate, individual responsibility
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____________________

Kmart:

Kmart lost $1.1 billion in 4th quarter but sticks with Ch. 11 plan
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Kmart Reports Fiscal 2002 Loss of $3.22B
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Kmart targets Chapter 11 date
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Kmart Sees Signs Of Hope In Most Recent Results
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_____________________

No way, firm says of bond of $12 billion - Philip Morris raises prospect of bankruptcy
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Ill winds of war blow good to oilwell fire company
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Palmer Johnson millions in the red
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Squeeze play - The Creditors Could Own The Trees
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Polaroid successor seeks extension
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Oakwood Homes Has Deals To Sell 21 Manufactured Homes
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Uniform Commercial Code Trumps Contracts on Bank Transfers, Says Federal Judge in New York
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Asbestos:

Judge Won't Recuse Himself From Armstrong World Case
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____________________

Canadian chain adds Dairy Marts
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Energy:

Texas Commercial Energy names new president, cuts 30 jobs
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____________________

Corporate Reform:

SEC Boss Changes Tune On CEO Pay
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__________________

Today's Man:

Today's Man to be sold to rival
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N.Y. Chain Buying Today's Man (scroll down)
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Today's Man/Asset Sale: Christopher's To Assume Debt
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_____________

PacifiCare agrees to pay past due bills to doctors
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England:

Revenue targets Brits with offshore accounts
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Tax advisers face up to new money laundering rules
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Current Distressed Companies Update
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_____________________

Japan:

Politicians urge Bank of Japan to help lenders
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______________________



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