March 31, 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:

Gravy-train days may be over at United
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The limits of bankruptcy
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Strategy Split Is Reported in Top Ranks of American
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AMR could trigger domino effect
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Boeing Would Be Hurt By AMR Bankruptcy
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American reportedly near filing for Ch. 11
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Unions get Chapter 11 warning
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UAL Labor Pact Gives Pilots Equity Under Chapter 11 Plan
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White House Signals Support for Modest Financial Assistance for Airlines
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Airlines seek more labor cuts
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PBGC Will Not Object to 'Follow-On' Pension Plan for US Airways Pilots
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Ex-Delta execs fought move to insulate executive pensions from bankruptcy
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US Airways exits bankruptcy amid airline turbulence
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Hawaiian tends to business under Chapter 11
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US Airways cuts employee pay 5 percent
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Pilot union chief blasts Delta bonuses
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Fasten Seat Belt: Us Air To Fly Out Of Bankruptcy
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Ailing economy needs band-aid
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Pilots for American offer pay cuts
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A race against the clock
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Atlas Air Worldwide Holdings Expands Restructuring Discussions
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European airlines fly into red
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Drastic measures necessary if big airlines are to keep flying
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Tension in the air
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New round of torment hits airlines
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Airline bailout just won’t fly
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Air Canada 'worthless,' says analyst
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Try a bailout for travelers, not for the big airline cartel
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Turbulence Ahead
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Ottawa set to offer Air Canada $500M in aid
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CAW ready to agree to Air Canada axing 1,000 workers
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Boots & Coots:

Fighting Oil Fires, and Creditors
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Boots says no thanks on bankruptcy proposal
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High Court rubber stamps TXU insolvency conflicts compromise
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Farmland auction reaps $295M
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Reservists Called to Duty Have Little Time to Get Finances Straight
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Steel:

Retirees from Bethlehem Steel Corp. Seek New Health Insurance
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Bethlehem Steel Gets OK On $27M Sale Breakup Fee
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Meetings keep hopes alive among implant victims
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Tampa: Global City filing for Chapter 7 bankruptcy: Company's president registers new firm with the state
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Alterra:

Alterra could get new owners
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Alterra Healthcare Creditors Object To DIP Financing
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James Cable's Auditor Raises Going-Concern Doubt
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State of confusion - Two Delaware Supreme Court reversals suggest a troubling split and leave uncertainty over standard for sales of controlled companies
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Colorado Individual Bankruptcy Filings Set to Shatter Record
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Kmart ruling illuminates Ch. 11
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Telecoms:

Bargain hunters profit from telecom collapse
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Former Marconi chiefs facing FSA reprimand
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$2 billion gone south
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WorldCom Unit, Notehldrs Seek To Postpone Debentures Redemption
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WorldCom Moved Expenses To the Balance Sheet of MCI
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Stayin' alive
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Touch America hints at bankruptcy
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Horizon PCS Auditor KPMG Raises Going Concern Doubt
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A Novo Broadband, Inc. Reports Proposal to Sell Assets
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Focal Communications Announces Filing of Amended Joint Plan of Reorganization
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Law Firms:

Not Bad: Fried Frank's Jacob Holds Rare Spot (the Top One)
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Despite law school gains, women-owned law firms remain rarities
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Fenwick fills Brobeck void for Cisco
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Fewer Law Grads Finding Jobs
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Reed Smith works to hone art of integration: Employs specific 'people' strategies for acquisitions
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GE GC Ben Heineman discusses the impact of Sarbanes-Oxley
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Bad, Late Transcripts Land Court Reporter in Jail
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Another Top NY Firm Restructures as LLP
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NY Firm Changes Managing Partner After 18 Years
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A 7-year-old bankruptcy pays millions
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Energy:

Banker's Lament: How to Run a Power Plant
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Reliant talks debt with bankers
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NRG settlement hearing set
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FERC rejects returning Powerex's Calif. collateral
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Richmond, Va.-Based Coal Company Files for Chapter 11
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Reliant default adds pressure for deal on debt
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Shell joint venture files Ch. 11
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Bankruptcy upsets families in pipeline blast
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Explosion leads to pipeline filing for bankruptcy
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Next two weeks may determine fate of Aquila
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Shrink-to-fit Bauer
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IDI, Grubb Duke It Out Over ACT Manufacturing Bankruptcy and Commission Disgorgement Demand
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Accounting:

Accounting firms say implications of Sarbanes-Oxley still unfolding: Concern regulations could find way into private companies
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Foreign companies pushed the SEC to soften some Sarbanes-Oxley rules -- and half-succeeded
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SOX Hop - The nation boogied to a new lingo the past year as corporate scandals and reform filled the front pages
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Fleming's grocery carts near empty
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Court Order to Bankrupt Electronics Chain Gives Customers More Time
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Debtors still have some rights
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U.S. Greyhound joins airlines in experiencing 9/11 fallout
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Biotech Firm Files for Chapter 11
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Streambox files for bankruptcy protection
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Wade Cook assets to be auctioned
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Judge Approves Adelphia Headquarters Move
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Plan to buy hospitals hits Ch. 11 snag
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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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Company Bankruptcies Down in 1st Quarter
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Bankruptcy Reform:

US set to block 'sovereign chapter 11' proposals
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New bankruptcy judgeship bill
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Chicago becomes battleground
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Pillowtex:

Pillowtex's financial troubles continue
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Lenders give Pillowtex a another reprieve
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Friedman Bag Seeks to Restructure Itself Under Protection of Bankruptcy Court
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Enron:

New Jersey company monitors bankrupt Enron's finances
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Lawyers Spar Over Public Access to Enron Documents
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Structured finance deals need full attention
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Two smoking memos and a dying dream
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Watkins' `gutsy' memo started a new chapter
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M.D. Anderson chief survives Enron scandal
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Enron Opposes Creditors Panel's Request To Sue Whitewing
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City of Glendale allegedly helped Enron inflate market
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Risky Business
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No Priority For CRRA Among Creditors
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Probe Of Enron Deal Sought
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Cintech Solutions CEO quits
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Burlington investor presses for piece of the action
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HealthSouth:

HealthSouth to miss bond payment
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HealthSouth's Clinic Business Threatened as Bankruptcy Looms, Doctors Say
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Judge questioned links of HealthSouth men
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HealthSouth Inquiry Looks for Accounts Held Offshore
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Five HealthSouth Employees May Plead Guilty to Fraud
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Scandal takes a toll
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HealthSouth: The fast fiasco
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HeathSouth Bondholders Hire Counsel
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Bankrupt paper mill gets reprieve, change of venue
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Consider option of work-outs when tenant has money woes
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Asbestos:

Corning Taking $200M Charge for Asbestos
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U.S. Steel Loses Asbestos Lawsuit
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Corning to Settle Asbestos Lawsuits
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Congoleum/Amendments: Pleased With Progress Of Talks
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Corporate Reform:

Economy, rules forcing compensation changes
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Altria Unit Says It Can't Post Bond to Appeal Tobacco Case
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Australia:

Liquidator expands but Ansett creditors wait on
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Two Marks going national
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______________________

Japan:

Banks learning to lend more to fittest, less to fattest
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