October 2, 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

         
Credit Derivatives Are Top Risk Facing Banks - Study
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Energy:

EOTT makes break, becomes Link Energy
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Creditors Raise Objections Over Mirant's Loan Plan
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Mirant DIP Hearing, GE Agreement Extended 2 Weeks
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Regulators Will Continue NorthWestern Investigation
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NEG delays transfer of U.S. power units to banks
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Mirant Rejects Brazos Contract But Keeps Supplying Power
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Corporate America on a Borrowing Binge
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Asbestos:

Owens asks Miss. high court to revive asbestos suit
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Armstrong plan faces heavy resistance
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Justices hear claims in asbestos lawsuit
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Judge ends Federal-Mogul's exclusivity
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Steel:

Bluffton foundry remains idle in midst of cash problems
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Steelworkers Win Plant Closing Benefits
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PBGC to fight Republic ruling
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AK Steel Issues Third Quarter Results Guidance
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Is The 'Bankruptcy King' Going After Weirton Steel?
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Politics Likely to Decide Steel Tariffs' Fate
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Ivaco names chief restructuring officer as chief executive and chairman
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Hubby's credit card debt over & dun with for widow
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Palmer Johnson Savannah's bid to buy bankrupt Wisconsin yacht builder has last-minute competition
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Pillowtex girds for lively auction
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Loral to build two high-power satellites for DIRECTV
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Middle Class Tax Bill Shocker
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FTI Consulting Launches European Restructuring Practice
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Corporate Reform:

A 'Hold' on Quattrone's Lawyer - Early Snub From Judge
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CEO Pay: "No Easy Answer on Greed"
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Globalization hurts USA
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Dead As a Dot-Com
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Wisconsin Senate Passes Compromise Business Bankruptcy Bill
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Buyers Pluck Mallard At Low, Low Prices
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Payroll-Service Provider Team America's Pay Flap 'Could Get Ugly
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Bankruptcies Continue at Record Pace in Albany, N.Y.
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Post-Confirmation Order Lifting Automatic Stay To Permit Foreclosure Does Not Rescind Earlier Bifurcation of Secured Creditor's Claim

Signs of Revival: Largely an Illusion?
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Ruddick to Close Unit Plant; Lay Off 125 Workers
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  Enron:

Enron class-action suit may proceed
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Deepest pockets out of case
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Citigroup, Chase among banks dismissed from employee pension plan suit
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Lea Fastow seeks new trial location
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Task Force Probing Enron Builds Up Its Staff
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Enron Eyes Settlement with Nevada Utilities, But Possibility Seems Slim
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Rigas Pleads 'not Guilty' Again
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CFS:

Consultant Defends 1998 Layoffs by Tulsa, Okla.-Based Financial Services Firm CFS
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Differing Views Given of Financial Services Firm Co-Founder in Oklahoma Trial
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Law:

Associate Morale Plunges in Silicon Valley
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Coudert Brothers Adds Group Led by Darrell S. Gay; New York Partner Will Lead U.S. Labor & Employment Practice
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Salans secures Altheimers deal
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Clifford Chance: no longer the worst employer in the US
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Morgan Lewis Adds 27 Lawyers, Opens 2 New Offices
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Firm Settles Discrimination Claim Amidst Allegations of Cocaine Use
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US leaders draw up free private equity doc model
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Connecticut’s Wiggin & Dana swipes NY boutique
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Georgia Firm Settles With Failed Dot-Com Client
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Dutch bar debates radical no-win no-fee move
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Dewey hires NY pair from Weil Gotshal
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Venable completes Chinatown move
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Law firm mergers are a major undertaking for the IT departments of the firms
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Beware the ides of March!
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A number of factors need to be taken into consideration by a struggling law firm before considering a defensive merger
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Spartanburg engineering firm for sale amid parent's bankruptcy
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MatlinPatterson raises about $600 mln for new distressed debt fund
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Sunterra Corporation to Acquire Assets of Bankrupt Epic Resorts
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Core-Mark Evaluates Strategic Options, Including Sale, Reorganization
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Core-Mark welcomes bids as it mulls bankruptcy exit
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Licensor Beware: Copyright Licenses in Bankruptcy
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Thou Shalt Not "Sandbag" One's Creditors: One Debtor's Attempt To Reduce a Claim Through a Chapter 11 Plan Provision

Bankruptcy of Oregon Department Store Chain Nears Confirmation Hearing Date
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Hawaii: Statewide bankruptcies fell 20.4 percent - Officials credit a surge in tourism, real estate and construction
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HealthSouth Compliance Chief Quits
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New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Airlines:

Banks spar over two Air Canada Boeings
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Milton confident he'll stay in pilot's seat
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Mica criticizes "dinosaur" US airlines
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US Airways Warns Tough Times Remain after Emerging from Bankruptcy
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Midway Pilots Agree to Concession as Airline Looks at Liquidation
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Accounting:

Relics of Arthur Andersen being sold to the public
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Clearer financial reports needed, says PWC
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Deloitte loses Touche in name change
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Accounting at BearingPoint Questioned
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Ahold in frantic rush to secure Deloitte signature
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Deloitte Bucks Trend by Continuing to Consult
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Middle-class blues
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Bankrupt Kent Inc.'s assets sold
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ExperTelligence To Sell Assets, Make Distributions
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KPMG under fire, WilTel and Williams settle, SK Global a poor draw and S&P lowers Box
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UK:

British Energy in £5bn rescue
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UK is failing to combat business fraud
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Nuclear generator still faces administration
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State aid — on a grand scale
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There's hope, but not as we know it
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British Energy's Lights Will Stay On, But Value For Holders Is Elusive
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Netherlands:

Ahold Writes Down Value of Assets by EU3.2 Billion
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Australia:

Former bankrupt buys Bentley
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Pan factory gets OK from TGA, liquidator readies to sell it
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France:

EU to sue France on failure to enforce government loan to distressed company
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Argentina:

Argentina's Lavagna Avoids Bondholders in U.S. Visit
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Korea:

SKN bail-out hit by court action
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Japan:

Mycal rehab plan earns court OK
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Japanese Executives Turn Optimistic
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