October 10, 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
Search prior headlines at http://bkinformation.com/PriorEditionsSearch.html

         
Telecoms:

Qwest Investigated by Grand Jury Over Conflicts of Interest
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Qwest Probably Will Complete Restatement Next Week, People Say
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Touch America creditors quit Qwest action
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Earthlink to acquire bankrupt Stargate's Internet service
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Global May Be Solvent by Next Week
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Asbestos:

Halliburton Says 3rd-Qtr Profit Was Below Estimate
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Halliburton sets exchange offer for $300 mln debt
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Legal Leeching at Halliburton
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Congress may pass asbestos reform law this year
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Kalakala goes to Tumwater buyer
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Talk turkey, Air Canada, unions told
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Corporate Reform:

His Bonus Was Based on Inflated Profits. Will He Give It Back?
(NYT: separate free registration required)

Ex-banker's defense focuses on e-mail as routine matter
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Quattrone Takes the Stand
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SEC zeroes in on mutual fund restrictions
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Former CEO Testifies in Tyco Exec Trial
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Quattrone denies obstructing probes
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Red Flags Rising at the Merc
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Stewart ruling 'unusual' - Prosecutors say the defense has unfair advantage
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Investor Suits Against Stewart Go Forward
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Judge approves Carolina Investors, HomeGold bankruptcy plan
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Workers lost money and benefits after payroll company's bankruptcy
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Airlines:

Midway dodges Chapter 7
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Hawaiian shells out millions on technology
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Air Canada holding on
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UAL to seek pension waivers
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Problem Debtors' Situations Worsening; Economy Spurs Large Increases in Credit Card and Mortgage Debt
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Collection Remedies for Small Business
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Alestra Announces Extension of its Exchange Offers, Cash Tender Offers, Consent Solicitation and Solicitation of Acceptances to a U.S. Prepackaged Plan of Reorganization
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U.S. Non-Financial Credit Quality Moderates Significantly, Though Sector Gains Uneven
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Bankrupt NY Hotel Owner's Suit Accuses Marriott of Mismanagement
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  Energy:

Mirant CFO quits after less than a year in the job
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Calif. Seeks $6B More in Energy Refunds
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Power payback in court - Appeals justices sympathetic to refund request
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Nevada Power facing new financial claim by Mirant
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Enron:

Former Enron official settles - Accountant will assist with probe
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Former Enron officer charged with fraud
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Arthur Andersen puts forth its case against conviction - Previous rulings bother judges
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Andersen Attorney Argues Judge Prevented Fair Trial
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King of the Bad-News Bulls
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Supreme Court speaks to vendors about settling fraud claim against customers who later file bankruptcy
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Accounting:

Industry shock as E&Y axes M&A staff
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PCAOB Airs Proposal for Sarbox Sec. 404
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Levi's says tax return error wipes out $30.9 million profit
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SEC opens inquiry into Cardinal Health
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Vanderbilt Study Shows Audit Firms Will Continue to Put Own Interests First
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DVI:

Bankrupt DVI to send data to bond agencies Friday
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Bankrupt DVI says recovery best through lenders
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Steel:

Republic steel for sale
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Deal to keep open steel mill hinges on union's vote
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Leave your gadgets behind - electronic devices banned from FL bankruptcy court - no storage facilities
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Loral:

Echostar Raises Its Bid to Acquire Loral
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Loral's Bankruptcy Case Faces New Hurdle
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Bankrupt Loral in tug of war
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FTI Consulting to Acquire Ten Eyck Associates
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IRS Discusses Collection Process
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Bill to Allow Private Tax Debt Collections Approved by Senate Finance Committee
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Chi-Chi's wins interim DIP approval
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Correlation between "antecedent debt" and a "preferential payment."
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New Bankruptcy Opinions
(3 new opinions today)

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Law:

Brobeck Suit Has a Familiar Ring to it
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Brobeck sues Clifford Chance and Snow for $100m
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Pigs at the trough?
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Dewey Ballantine Inks Long-term Lease
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Top NY Firms Sign Huge Leases
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Vinson & Elkins opens office in Dubai
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Female Iranian lawyer receives Nobel Peace Prize
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Bankruptcy Basics for Trade Creditors
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Adelphia asks for more time to file reorganization plan
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Bankrupt Cemetery Could Leave Plot Owners Without Final Resting Place
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Angry crowd gathers at cemetery
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US wants extraditions in Executive Life case
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Bankruptcy not enough for firing
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Netherlands:

Bankruptcies soar in the Netherlands
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Canada:

Report shows Argos debt is $20-million
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Doman Industries files report
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Australia:

Home lending is high risk
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UK:

Stars' 100m boycott
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Telewest bankers agree debt restructuring
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Bankruptcy is like losing your virginity - it doesn't hurt the next time
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Bankruptcy And Losing Your Virginity
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Richards Butler lays off 12 lawyers
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Argentina:

A few lessons from Argentina
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Brazil and Mexico: Approaching Securitization With Different Means to Achieve the Same Ends
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Singapore:

Nearly 3,600 went bankrupt last year, the most since 1986. This year, there may be 5,000
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Japan:

Morimoto receives approval to begin rehab procedures
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