May 28, 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
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Airlines:

US airlines flying out of Chapter 11 at top speed
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Air Canada gets labor concessions
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Airline, union clinch vital deal
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Air Canada to cut 1,400 more jobs
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UAL Seeks To Lessen Burden Of Insurance Premiums
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Hawaiian Air Says It Won't Appeal Trustee Appointments
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Three Air Canada Unions Accept Cuts, Talks Not Over
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Hooters Air
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2,300 Former TWA Pilots Ask Federal Courts to Force American Airlines to Honor Seniority, Order Rehiring
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Trinidad-Based Airline BWIA On The Brink Of Bankruptcy
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Trinidad airline in rescue talks
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Which Airline Will Blink First And Close a Money-Losing 'Hub'
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National Century:

Banks sued over healthcare 'fraud'
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Chandler leads group in National Century lawsuit
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Fallen Health Financier Faces $1.3B Suit
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Investors sue CSFB, others over National Century
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Feds Hit Lancer's Cowen With More Charges
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Penny-foolish: a hedge fund's fall
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Newport Creamery owner faces eviction
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Agway gets extension from bankruptcy court
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Lodgian closes exit financing deal
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Energy:

Power Contract Dispute May Pit FERC Vs Bankruptcy Court
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California Justices Question 'Closed-Door' Edison Utility Deal
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Power firm's rate hike in question - case could upend PG&E's bankruptcy
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California Utility, Consumer Group to Face Off in State Court over Bailout
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Calif Supreme Court Debates Legality Of PUC Rate Move
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Drax hires Dynegy star as legal head
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Industry Grp Sees Gas Pipeline Credit Policy Mid-June
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Amarillo Grill:

Amarillo eatery chain faces uncertainty
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Amarillo Grill files for bankruptcy
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Hawaii: Arthur M. Smith lists debts of $24 million and assets of $17,267
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President Casinos starts bidding process on St. Louis casino
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Fresh Brands buys Fleming supermarket
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Enron:

Enron Weighs Suing Its Banks for Bad Advice
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Enron Weighs Suing Its Banks For Bad Advice They Provided
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Shell faces US inquiry over buried papers
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More charges could push back trial
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Law Firms:

Allen & Overy offers jobs for all in restructuring to offset downturn
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Six Defect From Akin Gump
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Thompson & Knight LLP Combines with Brazilian Law Firm of Tauil & Chequer
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E&Y ramps up US legal team with finance hire
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Boston Firms Stock Up on Summer Associates
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Altheimer loses another partner as costs mount
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NY Lawyer Admits Blackmailing Boss
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LeBoeuf Named U.S. Energy Law Firm Of The Year
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NY Firm Moves Downtown
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Orrick Herrington garners kudos
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Orrick Practice Leader Defects
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Clifford Chance Warns of NY Boom in European Move
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Asbestos:

Proposals aim to limit rising asbestos claims
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Why an Asbestos Deal May Falter
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Globe Metallurgical Gets Final DIP Loan Approval
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The Trade Creditor, Bankruptcy, and the Automatic Stay: Four Things Unsecured Trade Creditors Can Do When Collection Efforts are Automatically Stayed
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Telecoms:

WorldCom's Groundbreaking Priority-Shifting Settlement Closely Watched
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The Pros And Cons Of Settling With WorldCom
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Circuitous flight for Broadwing
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Cingular eyes NextWave licenses
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Allegiance Telecom Uses Chapter 11 To Thaw Its Nuclear Winter
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Michael Jackson:

Jackson sick (literally) of being sued and may be facing bankruptcy
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Jackson is 'ticking financial time bomb'
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Steel:

Copperweld Names Two Restructuring Specialists to Key Executive Positions
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Experts aim to help Copperweld revival
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Fansteel Announces Entry Into Plan of Reorganization Term Sheet With Key Creditor Constituencies
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Overturn mill sale, suit asks n Liberty asking bankruptcy judge to void Midcoast deal
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Vendors stop shipments to Big Bear stores
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Accounting:

U.S. accounting board auditor can testify against firms
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SEC votes for financial reporting control disclosure
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New SEC Rules Implementing Provisions of Sarbanes-Oxley Act of 2002
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House Panel to Examine Options Accounting
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Need for Additional USA Bankruptcy Judges at a Critical Level
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Interest Rate Swap Termination Damages are Allowable Under the Bankruptcy Code
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Adelphia Business Asks For More Time To File Ch. 11 Plan
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Adelphia Restates Subscriber Numbers
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Owners of San Antonio-Based Cafeteria Chain Declare Company in Default
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Eddie Bauer parent lost $77M in first six weeks of bankruptcy
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Cary's Random resigns game, files Chapter 7
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Peregrine would give cash, stock to bondholders
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Bankruptcy judge approves additional nearly $6 million for AHERF professionals
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Thermadyne Holdings emerges from bankruptcy
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Emerald Casino files to delay license hearing
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Mechanic's Lien Provides Opportunity for Payment
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Sun & Ski Jumps Out of Bankruptcy
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Corporate Officers Are Off the Hook for Payment of Wages in Colorado
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Korea:

Creditors: Discussing Court Receivership For SK Global
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SK Corp Proposes KRW450B SK Global Debt-Equity Swap
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SK Global liquidation seen unlikely
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Japan:

7 major banks post losses for 2nd straight yr
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Bali:

Bali tourism industry faces bankruptcy
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Canada:

Exchange delists Battery Technologies
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Court Stays Petition For Bankruptcy Filed By Insight
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Laywers butt heads over Corel Centre legal payments
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Australia:

Bankrupt QC to fight another day
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