March 5, 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:

Consumer Debts Bill Moves in Congress
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Senate bankruptcy judgeship bill
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Telecoms:

Ntelos files for Chapter 11
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Wachovia lends $35M to troubled telecom
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Ex-WorldCom workers: Pay up!
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Bells fight WorldCom unsecureds
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N.Y.C. Pension Funds May Be Forced to Join WorldCom Suit
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Pension Funds Lose Bid to Return WorldCom Fraud Case to State Court
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Va. Telecom Firm Ntelos Files for Bankruptcy Protection
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Enron:

Two Lawmakers Seek Bankers Trust Probe
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Brenham shareholder case looks more and more likely
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Law Firms:

Gibson Dunn profits hit $1.2m
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Performance Reviews Measure Professionalism
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Wave of Firm Leases Could Signal Bad News for Associates
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Clifford Chance forced into new Italy shake-up
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Firm Bobbles Search for Litigation Stars
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Morgan Lewis caught in pay claim by ex-Brobeck lawyers
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Lawyer for Brobeck and Former Partner Bows Out
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Ashursts-Fried Frank merger: all systems go
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New Leaders Take Helm at Philly Firm
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E&Y Legal bucks trend with expansion in Chicago
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Six US lawyers charged over hospital PI plot
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Landlord forces Skjerven partners to pay their rent
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Sarbanes-Oxley: will it destroy the in-house role?
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O'Melveny first in Times Sq Tower
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Clover creditors file for protection
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IRS Opposes Tax Payment Terms Of Maxxim Medical DIP Loan
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Accounting:

US audit watchdog backs dual registration
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A Hard Line On Options As Expenses - FASB Chief Herz Says He'll Fight for Change
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Azubuikes withdraw bankruptcy request
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Credit line is frozen for Royal Ahold NV
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Farmland:

Judge approves new deadline for Farmland bankruptcy case
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Local cooperatives expect to survive Farmland debacle
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S&P Places Trenwick Ratings on CreditWatch Negative
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  Airlines:

United OKs More Sales of Employee Shares
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UAL ESOP may lose majority stake
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UAL's Bankruptcy Lawyers Document a Feast of Fees
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Frontier Air CEO Sees Co Benefiting From UAL Decisions
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6 airlines that win if United fails
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A War in Iraq Could Take Heavy Toll on U.S. Airlines
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Airline partners to sell ticket processor
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Airbus Plays Down Payment Delay
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US Airways misses more lease payments
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UAL Posts Unaudited January Net Loss Of $382.1 Million
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For Airlines, War Fuels Panic
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United Needs Less Scope Clause, More RJs To Survive
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United set to scrap system of ownership
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Hooters abreast of new trends
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US Airways payment delay puts pressure on unions
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Airlines' troubles - by the numbers
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IRS ruling jeopardizes workers' stake in United
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Kmart:

Kmart officials vow more financial controls
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Martha Stewart Living posts first quarterly loss
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Kmart CEO Says Stores Need Discipline, Not Technology
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Kmart officials vow to emerge from bankruptcy “culturally” changed
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Fleming Cos. Fires Chairman
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Kmart faces $1.5B in claims by food seller
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CEO aims to boost Kmart image
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Today's Man files for bankruptcy
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Skadden bills $4m on NTL restructuring - twice as much as fellow legal advisers
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Hockey:

Bettman says Melnyk looking over Senators books
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Senators restructure players' contracts
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Ocean Journey:

Catch of the day - Landry's Restaurants lands Ocean Journey for $13.6 million
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Landry's hooks aquarium in Denver
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Buffett salvo revives fears of derivatives doom
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Cinderella Stories of Revitalized Companies
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Superior Essex set to file Chapter 11
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Love Israel family's land may pull it out of bankruptcy
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Insilco:

Insilco sells most assets
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Insilco lines up buyers of its businesses
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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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Conseco:

Conseco Finance bids fly
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Buffett bids for Conseco unit
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Conseco bidding fierce
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CFN Investments bids $816M for Conseco Finance
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Conseco awaits deadline
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Berkshire in lead as Conseco Finance auction goes to the wire
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Bankrupt Halstead Hospital allegedly misused funds
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Steel:

Wheeling-Pitt options dwindle
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Governor says W. Va. will help Wheeling-Pitt
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Year later, White House tariffs fail to stop steel imports flow
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A year of doubts and relief for steel
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Steel Mills: Tariffs Working
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Asbestos:

Tackling asbestos reform
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Divine unit under federal investigation
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Cooper amends lawsuit after buyer backs out of Ecusta sale
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Adelphia:

Bankruptcy Court OKs Adelphia Hirings
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Adelphia cleared for takeoff to Denver
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Energy:

Kansas regulators demand details about Aquila's financial health, bankruptcy triggers
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NRG Energy/Debt: Declared Immediately Due
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Banks seen wary of U.S. inheriting power plants
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PG&E Ordered to Join Reorganization Talks
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Longview Aluminum Files for Chapter 11 Bankruptcy Protection
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England:

Insolvency Lawyer In Email Row
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Beachcrofts raids LG for insolvency leader
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Independent Insurance creditors may sue FSA
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DLA tops law firms in 'best places to work' list
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New Zealand:

Housing firms liquidated
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Korea:

S. Korea's Hynix Names Sole CEO in Restructuring
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