March 4, 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

         
Report Says Company Bankruptcy Filings in U.S. to Drop in 2003
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PricewaterhouseCoopers Report Forecasts Total Assets of Public Companies Filing Chapter 11 Will Reach $240 Billion
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Bankruptcy filings seen holding steady
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Fleming CEO Mark Hansen Quits
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Encompass to shut Columbia offices
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SEC seeks to seize homesteads
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Steel:

Steel mill's rebirth feted
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Wheeling-Pitt, USWA claim Bush administration betrayed them
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Steelmakers Seek Price Gains Of Up to 10%, to Recoup Costs
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Wheeling-Pitt Regroups After Loan Denial
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Bayou Steel Gets DIP Approval To Fund Ongoing Business
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Guilderland, N.Y., Steel Fabrication Firm Met Weld Files for Bankruptcy
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Wheeling-Pittsburgh Steel in Bankruptcy Limbo
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Law Firms:

Who's Got It Better? - A senior Merrill Lynch attorney escapes to a law firm, leaving the bank's GC to cope with its many difficulties
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Law firms try new management model
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Greedy Associates Run Afoul (Mouthed) of Web Host
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Brush With the Law's Byrnes Returns To Full-Time Associate Ranks
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Wells Fargo Financial now owns Agway's Telmark
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Winter weather expected to chill retailers' results
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Student bill takes aim at credit cards
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Allied Devices on the brink
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Suspects found, loot missing in world's biggest diamond heist, lack of insurance leaves many traders facing bankruptcy
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Ex-state prosecutor gets 30 days for hitting lawyer after words over bankruptcy case
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Buffett drops bid for Burlington
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Broadcom finishes Gadzoox acquisition
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Ocean Journey:

Another Group Comes Forward with Offer to Purchase Bankrupt Colorado Aquarium
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Ocean Journey shuts down Tuesday
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Biotransplant Seeks Protection Of Assets With Bankruptcy Filing
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Wynn Inc. to regroup in court, pay in full
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Energy:

EOTT Energy emerges from bankruptcy
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Merchant Energy Firms' Fate Tied To FERC Market Plan
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FAO moves along in reorganization plan
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Kmart:

Martha, In the Soup
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  Airlines:

United: Business Fare Cuts Boost Revenues
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Judge denies UAL attempt to recover $388M in tax payments
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It's getting late
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Airlines pushed to the edge / Carriers sure to face even more losses if hostilities
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Air sickness - Banks get queasy feeling when looking at the airlines
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American Airlines gives proposal to ground workers
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Air Canada says it's in dire straits
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Local United hub fights for survival
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United meeting yields no answers for officials (DBN Subscription Required)

US Airways in Talks On Airbus Aircraft Payments
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US Airways' fate rests in arbitrator's hands
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Creativity Is Key as Delta's Song Takes Off
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Key Democrat Readies Bill to Help Airlines
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US Airways: Bryan to Step Down as Counsel
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In Asia, outlook for airlines is much sunnier
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Ukraine National Airlines Creditors Concerned With Company
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Old San Francisco Steakhouse is bankrupt
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Mattress Discounters can sleep easy
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Telecoms:

WorldCom seeks court approval for claim objections
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Superior TeleCom files for Ch. 11
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Hockey:

Alfredsson gives the Sens a $200G vote of confidence
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It could take $200-million to buy Sens
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Sabres struggling toward oblivion
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Corporate Reform:

SEC Notice Ousts CFO At Cap. One
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Warren Buffett lashes out against derivatives
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Many Clients Sue after Collapse of Bloomington, Ind., Real Estate Firm
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Divine faces federal probe
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Accounting:

VTech sues PwC over purchase
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Accounting Panel Wants Int'l Registration
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Cap Gemini losses top 300m
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Accounting group not leading on reform
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Is something wrong with Europe's accounting rules?
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Tax court again labels partnership arrangement created to shelter sales of business unit as "sham
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Polaroid names Pocock president and CEO
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New Bankruptcy Opinions
(1 new opinion 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:

Bankruptcy Law Overhaul Snagged in Politics of Abortion, Economy
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IMF Hopes To Dispel Bankruptcy Plan Objections
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Uncertainty mounts over Getronics' future, bankruptcy possible
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SLI to sell two units
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Second Stone Harbor company files Chapter 11
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Farmland:

Judge OKs new financing deal for Farmland
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Judge approves new deadlines for Farmland Industries
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Best to let old debts lie
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Emporium begins liquidation sales in all 34 stores
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Enron:

Bankruptcy attorney requests more Enron evidence
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Texaco files suit against Enron
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Conseco:

Bidder interest high for today's Conseco Finance auction
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SEC objects to Conseco's Chapter 11 plan, disclosure statement
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Conseco preferred holders object to disclosure statement
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Investors looking over ANC as it emerges from bankruptcy
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Probex seeks debt extension
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Australia:

Green's in administration - but its website says nothing
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Germany:

Beer dividend saves German brewery facing bankruptcy
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England:

City trader settles for millions to end record pay fight with Lehman
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Insolvent clubs face points deduction into the bargain
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Baker Tilly partner takes charge at Leicester City
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South Africa:

Debt collectors lose 'weapons'
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Korea:

In effort to avoid bankruptcy, Hynix slashes 20% of its management
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Canada:

Continental Saxon to buy Cotton Ginny
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