March 3, 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

         
Bankruptcy Reform:

US lawmakers revive bankruptcy overhaul effort
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House Lawmakers Revive Bankruptcy Bill, Omit Key Measure
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Jury Will Determine if Good Faith Defense Applies to Alleged Fraudulent Transfer

Airlines:

Judge Backs US Airways on Pension Plan
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Actuaries argue in US Airways pension case
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United urges its union to concede on issues
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United to use Airbus aircraft
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Ever Get the Feeling We're Flying in Circles?
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United Airlines' employees sue stock plan
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United seeks tax give-back
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American wants to get the low-fare word out
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S&P cuts American rtgs, warns of bankruptcy risk
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American and its pilots bargain this week
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Pragmatic pilots key to NWA's survival
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Pilots strategize to counter NWA's 'aggressive' labor cuts
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Defunct airline National eyes sale to Alaska cargo carrier
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Las Vegas-Based Airline Given Two Weeks to Secure Buyer
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American Airlines' Pilot Union Requests Congressional Financial Assistance
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Judge splits decision on pilot pensions
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EDS Says US Airways Accepts Revised Services Contract
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Boeing Unit Sees $207 Million Of Assets Coming Off Lease In 2003
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Pilots' analysis shows American Airlines could be forced into bankruptcy
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SEC formalizes its investigation of Atlas Air
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American Airlines teeters on brink
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Discount airlines may crowd skies
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Airline industry in disarray
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Kmart:

Kmart payments under suspicion
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Bankruptcy can be more complicated for some companies
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Hawaii bankruptcies drop; future uncertain
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Bankruptcy? Forget it! Make budget, pay off debt
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Alterra Healthcare delisted by Amex
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MSU Devices Inc. Files For Chapter 11 Reorganization
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Trucking firm sale no-go - Consolidated Freightways loses taker as laid-off workers struggle
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Emporium starts ending sales
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Court Approves FAO Chapter 11 Plan Disclosure Statement
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Hockey:

Senators' bidder hopes for fast deal
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Golisano Hopes to Own Sabres in 10 Days
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Hockey club owner pulls vanishing act
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Melnyk readies $130M bid for Senators
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No-goal call aids Sabres this time
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Melnyk fast off the mark in his bid for Senators
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Denver protests Ripley's purchase of Ocean Journey
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Steel:

Loan board nixes $250 million package for steel company
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Weirton Steel targets retiree health care coverage cuts
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Steel firm discussing loan failure
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Steel Technologies gets bankruptcy bargain
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Bangor, Maine, Clothing Mill Gets Funding for Two More Weeks
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  Personal bankruptcy to soar
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Enron:

Examiner issues more subpoenas
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NewPower Co. liquidation pushed back
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Briefing Book On Enron
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Energy:

PG&E bankruptcy trial suspended until April 8
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California to File Energy Market Proof
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Calif. Report Widens Blame in Energy Plot
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NRG Energy agrees to settlement with former executives
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Venus Exploration files Chapter 11
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Burlington:

Buffett and Ross under the gun
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Buffet pulls $957m bid over break fee
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Buffett suddenly terminates bid for Burlington Industries
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Divine:

Lessening The Pain Of Divine Collapse
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A Divine mess
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Philadelphia: CB Tech files for Chapter 11
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Buffett Group Reportedly Among Conseco Finance Bidders
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Economy:

Jump in Oil Prices Puts New Strains on Shaky Economy
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Scammers pose as lenders to snatch info
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Corporate Reform:

FBI Corporate Fraud Hotline Stirs Doubts
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Bridal Store Inventory Auctioned Off
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Jilted by shop's closing, brides want satisfaction
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Accounting:

Accounting changes boil down to principles vs. rules
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Synthetic leases causing real problems
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All Auditors of Firms Listed In the U.S. to Face Oversight
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Accounting detectives in demand
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Geneva Sues Ernst & Young for $2.2B
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Accounting Trade Group Stumbles
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Lessons from Enron, WorldCom - Ahold bankers wary
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The Enron of Europe?
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Bankruptcies double in decade
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Creditors for Bicycle Maker Cannondale Square Off over Assets
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3 Bibelot creditors, Weeses settle
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Plant owners declare bankruptcy without ever starting work
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Asbestos:

Asbestos ruling threatens legal plans
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Judge asked to recuse himself from Armstrong bankruptcy
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Committee Raises Question over Armstrong World Industries' Settlement
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Combustion Engineering Faces Suit Over Settlement Trust
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Former RHI set to emerge from Ch. 11: ANH Refractories could restructure by year-end
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WHNR AM 1360 Owner Files for Chapter 11, but Vows Comeback
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BioTransplants files Ch. 11 over Belgian dispute
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Sears Is Removed From the 'A' List
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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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Telecoms:

WorldCom asset sales strategy taking shape
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Layoffs Continue at WorldCom
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WorldCom, Cable & Wireless Unit Seek OK Of Settlement
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BroadbandNow Texas files for Chapter 11
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Hutchison Faces Passive Role in Revamp of Global Crossing
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Global Crossing Deal Shifts
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Telecom firms seem to have stopped the bleeding
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Before You Bet on Telecom Consolidation
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Housing values send bankruptcy filings lower
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Sixth Circuit Upholds Code's Abrogation of Sovereign Immunity

Law Firms:

Jensen, Pillsbury Seek Mediation in Defamation Suit
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Brobeck's Final Days
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Property Damage - As it struggled to survive, Brobeck faced tough terms from its landlord
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Digging deep for Brobeck: Picking up the pieces of failed law firm is proving costly
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Learning From Brobeck
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Weil Gotshal results: partner profits hit $1.3m
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Troubled times bring business for boutique and large firms
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Why VC law and large firms don't mix
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More moving going on: Law firms commanding the attention of real estate pros as offices expand, contract or open
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NY Firm Acquires Boutique
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Lawyers in limbo: Glut of attorneys creates widespread displacement and a bruising market for some former associates
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More Firms Follow Suit and Ban Business Casual
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Firm Closes Miami Satellite
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Integrated Health to Unveil Plan
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Judge OKs Laidlaw's reorg plan
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Bankrupt Peregrine Cuts Revenues by 40 Percent
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Spielgel hiring surprises industry
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Spiegel CEO steps down; bankruptcy specialist hired
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Joy Global files $15 million claim
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Bankruptcy may be Love Israel family's salvation
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Industry rallies to serve buyers with credit woes
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Richmond pol's wife pleads guilty to bankruptcy fraud
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Baltimore: Total Office closes after bankruptcy
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Korea:

Numerous World Cup companies left holding the bag -- and ball
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S Korea Thrunet Files Application With Bankruptcy Court
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England:

Villa hero Spink bankrupt
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China:

Foreign banking giants seek to gain foothold in China
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China's GITIC Bankruptcy Ends With 12.5% Repayment Rate
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Canada:

New deal for Ginny
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England:

Administrators appointed to Weston Medical
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