November 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

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Supreme Court Hears Oral Argument in Bankruptcy Case Today
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Burlington execs risked bonuses to keep Ross deal
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Airlines:

Government Needs To Acknowledge Airline Changes - UAL
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Aero Lloyd Is in Talks With 3 Investors, Including Niki Lauda
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Pilot says Avianca executive offered him bonus
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Air Canada plan snags on C$1.5 bln pension deficit
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Little hope for Midway debt
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Midway Was The Little Airline That Couldn't
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Midway's steady fall documented
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Analysts talk of Taj, Plaza bankruptcy reorganization
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Law:

Associates Are Staying Put
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Citibank's Green Light - Snow suit starts with $1 million
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Firms Call Off Merger Talks
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Firm commitments: Law firm partners rethink the meaning of making a switch
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NY Firm Names First COO
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The 2003 Global 100
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Beware of Brits Bearing Profits
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Fleet aftermath: Vendors in limbo
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Attorney accused of seeking sex barter deal
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Suddenly Last Summer
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Business Origination: Is Your Firm Rewarding All the Right Partners?
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Akin Gump/Shaw Pittman merger ends
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Counting the Clerks - more and more S. Ct. clerks are from non-Ivy League schools
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KLegal approves rebrand
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Firm Allies With PR Shop
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Holland & Knight partner breaks free of barriers
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Mega-firm's chief sees growth in London, New York
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NY Lawyer Gets 3 Years for Blackmailing Boss
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Some small public companies hang on despite years of losses
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Pittsburgh:

State's financial bailout law is an option for Pittsburgh's financial woes
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Going bankrupt: Act 47
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Concerns mount about Pittsburgh's growing debt
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Steel:

Georgetown Steel owner wants to cut retiree, disability payments
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Bankrupt Georgetown, S.C., Steel Firm Works on New Union Contract
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Slumping steelmaker Stelco Inc. to raise prices
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Three companies to bid for Republic Engineered assets
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Third plan submitted to shore up Palmer Johnson
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Mobile-Home Loans Hang Over Fannie Mae
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Stressed-out employees choosing to work less
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C-COR.net in Pact to Sell Claims for Adelphia Debt
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Tampa: Chapter 11 Filing Further Strains Desal Partnership
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Individual Indian Money (IIM) funds not estate property

U.S. Economic Forecast: Accelerating Through the Turn
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Firm's failure leaves anger, debts - Businessman Brian Hall's companies owe millions to the IRS and left clients like Brad Ray and his family with staggering medical bills
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Bechler's family struggles with grief, bitterness
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Texas Grill fraud search starts
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Redback Networks Files Plan to Conclude Restructuring
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Blue Ribbon Downs set to be auctioned on Tuesday
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  Telecoms:

WorldCom, set for rebirth, faces tough future
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WorldCom to emerge from bankruptcy
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MCI Clears Hurdle as Reorg. Plan OK'd
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MCI ready for post-WorldCom life
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MCI's Capellas: Company Will Protect Its Territory
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Collapses of Phone Company, Enron Offer Sharp Contrasts
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Judge OKs MCI's Reorganization Plan; $35B in Debt Shed
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Telecom Mergers Still on Hold
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MCI bankruptcy plan OK'd, but several hurdles remain
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Milberg Weiss Accused of Alarmist Tactics With MCI Clients
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Energy:

Seitel creditors to push rival plan
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Accounting:

Fed's Bies to Audit Firms: Do Your Jobs
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Federal accounting reform urgency
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Scattered Andersenites settle into new positions
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United Companies Creditors, Auditor Settle
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Sarbanes-Oxley will keep CPAs busy
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Longview Aluminum smelter heads toward liquidation
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SEC Receivers v. Bankruptcy Trustees: Liquidation by Instinct or Rule
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Edging towards financial crisis
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A growing poverty crisis
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Energy:

Lawmakers seek session to aid PSC during NWC bankruptcy
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Big banks call shots in utility's outcome
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Martz asks NWC to void promised bonus idea
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NorthWestern Reports It Knows of No Reason for Increase in Price of Common Shares
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NWE to pay $1.5M settlement for breaking contract
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Radio Unica Files Prepackaged Reorganization
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As Times Improve, Mergers Abound
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Bankruptcy filings show ups, downs
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Corporate Reform:

Hype low, stakes not in Dynegy fraud case
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Richard Strong resigns as chairman of Strong Mutual Funds
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Global Settlement in Place; Who's Next?
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Former HealthSouth executives gave themselves over $500,000 of company money to pay for legal fees shortly before pleading guilty to defrauding shareholders
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Massachusetts and the SEC plan to file civil fraud charges against five or more Prudential ex-employees over market-timing
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Hot Water for Prudential Securities?
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Ten questions for New York Attorney General Eliot Spitzer. His one message for CFOs: ''Be careful.''
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Sarbox's Unseen Costs
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Quest for the truth - Lawsuits, creditors have supplement company on the defensive
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Bob's Stores buy-out no big deal
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Bob The Tomato Finds A Home: Classic Media Buys VeggieTales Creator
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Tacoma, Wash., Port Voids Aluminum Lease
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A potential rescuer rides in for Indian Motorcycle Corp.
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Ohio Leatherland Chain Files Reorganization Plan
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Agway Inc Says Court OKs $11M Sale Of Agricultural Unit
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Kentucky Hazmat Disposal Firm Hopes to See Closure Overruled By Bankruptcy Court
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As medical bills pile up, more people look to bankruptcy for relief
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New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Enron:

Enron Bonuses Remain Unreturned
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Enron's shell game isn't over
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Houston takes center stage
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Enron plan could face more objections
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Nevada senators move to intervene in power case
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Asbestos:

More Companies Pursuing Both Parts of Asbestos Trials
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Armstrong Creds Threaten To Vote Against Chapter 11 Plan
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House bill would halt Ohio suits indefinitely - Plan affects plaintiffs without symptoms
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Time to resolve asbestos questions
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Judge Stops Argentina Lenders from Seizing Assets
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NC textile towns struggle with massive layoffs
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'Bottom feeders' get biz amid tough times
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Condominium Associations: Proceeds From Sale Of Unit For Unpaid Condo Assessment Applied First To Pay Unit's Mortgage
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Fun ends as DSI Toys liquidates assets
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Bargain Equipment Sales:

Construction company among the many victims
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'Lee Ray was good at getting money'
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Ill-gotten loans and broken promises
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Businesses getting harsh lesson in law
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Bankruptcy ensnares banks large and small
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UK:

Unions issue writ over lost pension rights and broken promises
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Bank of England May Increase Rates for First Time Since 2000
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Mortgage Cash Hell
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Good times end as rates rise
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Football's finances: sick as a parrot
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Declaring insolvency to escape from student loans is not a bright idea
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Shop around to find 0 per cent debt relief
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Lord Penrose defends inquiry into Equitable
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Japan:

Japan sees deflation continuing
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How money changes hands in deflationary Japan
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IRCJ to have another crack at Mitsui Mining
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Thailand:

Planners access to TPIPL blocked Prachai accused of not co-operating
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Canada:

Minds Eye plan needs to be done soon
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Insolvent Doman Industries Q3 loss $55.2M; sales down 9.5% to $158.9M
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France:

France may loosen bankruptcy law
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Australia:

Focus on ASX in broker's fall
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Bond lays the blame on everyone but himself
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Russia:

New Kremlin Head Casts Doubt on YUKOS Prosecutors
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China:

China cites progress on disposal of bad loans
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