September 15, 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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Enron:

Court: Enron, Non-Paying Customers Must Work Out Solution
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Nevada power utilities could owe $49 million more to Enron
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Snyder's:

Snyder's Files For Chapter 11, To Shed Drug Emporium
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Drug Emporium's future shaky after Snyder bankruptcy
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McKesson to take $30 mln charge on bad debt
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Katz shuts third of U.S. stores
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Creditor Fights Magellan
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Law Firms:

Seyfarth Shaw And D'Ancona & Pflaum Announce Merger
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Two Chicago Law Firms Complete Intracity Merger
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Law firms' "side" business aids clients, boosts branding
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Recognize the warning signs of the not-worth-it-at-any-price client
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Search for Flexibility Leads Some Women to Start Own Firms
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The changing pace of internal investigation
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Venture Law Group may keep identity after merger
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The Ultimate Challenge: From School to Startup
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Lawyer office law reversed
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Patents spell a hot market - for lawyers
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14 Lawyers Who Like to Scrap
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Too Much Big-Firm Pressure to Bill High Rates? Go Boutique
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Pros and Cons of Going Solo
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Balancing billable, pro bono work depends on law firm
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Shaw Pittman latest to steal lawyers from the Big Four
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Manufacturing Seen Rising to Meet Demand
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Trading for broke: Buying stocks of bankrupt companies risky business, reward can be big
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Airlines:

Midway Airlines Warns Shutdown Possible Next Month
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Air Canada expected to get offers from potential investors by Monday
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Blackout crippled Air Canada traffic in August
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Hawaiian Holdings seeks access to restructured lease documents
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Deadline set for airline's creditors
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Atlas Air sees prepackaged Chapter 11 filing in Dec.
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Pols Target Exes In $$ War
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Buyer who once offered $2 million for Kalakala gets ferry for $140,000
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Creditor deals push Amerco shares higher
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Baltimore Marine Industries shipyard at Point is up for sale Nov. 5
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Temtex Industries Gets OK For Rules Covering Asset Sale
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As Factory Jobs Disappear, Workers Have Few Options
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Two incomes, one bankruptcy
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Bankruptcy, an Inevitable Outcome of Trade Policy Shifts, Must Be Addressed
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Cincinnati: Now showing for Imax owner Roberts: 3 bankruptcy filings
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Marshall Field's Oriental rug supplier files for bankruptcy
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GE Capital to pay Montgomery Ward creditors $58 mln
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Bankrupt seed firm owes Iowa farmers
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Termination fees ease landlords' losses: If tenant hurting, some cash better than none
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Longview smelter trustee seeks buyer by Oct. 1
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  3rd Circuit Revives WorldCom Lawsuit
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Spiegel:

Spiegel Examiner's Report To Go Public By Sept. 15
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Spiegel Bankruptcy Report to Be Released
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Report Backs SEC "Noisy Withdrawal" Lawyer Rule
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Spiegel was ordered to delay financial filings
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Former Executives at Spiegel Inflated Sales, Drained Cash, Report Says
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Abelman stands apart in small bankruptcy specialty
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Cincinnati: Ex-head of CBC files bankruptcy
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Trans World Entertainment Announces the Asset Acquisition of Wherehouse Entertainment, Inc.
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Foreclosure attorneys find ready work in down times
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The sun has set on 'old' shares of Conseco
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Smithfield outbid for Farmland business
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Cargill Challenges Pork Giant With Rival Bid for Farmland Foods
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Accounting:

Annual Reports Make Heavier Reading for Investors
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Sarbanes-Oxley rule can have bottom-line value: Assessing controls can lead to cost savings
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FASB Takes Up Merger Accounting
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Audit firms are facing toughest scrutiny yet
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Who Is Responsible? - The audit fails to discover a massive fraud -- which accountant takes the blame?
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Sarbanes-Oxley will reach sales
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Is good judgment eluding auditors?
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CFOs Identify Top SOX Challenges
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Pillowtex:

End of cheap rent feared by residents of Pillowtex mill houses
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Pillowtex to reduce executive bonuses
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Steel:

Special Metals allowed to drop pensions
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Slater Steel to get $15 million less emergency funding while it restructures
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Slater Steel DIP Financing Facility Amended
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For some, ITC's steel stance a lose-lose deal
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Despair descends on Canton as jobs dwindle
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Energy:

Court To Consider Mirant Motion To Block FERC Action Wed
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NWC bankruptcy would be unlikely to affect power supply
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NorthWestern's stock issue fails; bankruptcy likely
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NorthWestern plan to issue new shares falls short
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Conseco Opens Up 1.5% After Emerging From Bankruptcy
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Forbearance agreement can help lender and borrower
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Judge Appoints Sheriff as Receiver for Cattle at Emmet, Neb.-Area Feedlot
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Overly ambitious plans lead to St. Helena winery bankruptcy
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5th Circuit Allows Credit-Scoring Challenge to Continue
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Newest HealthSouth board member had ties to Scrushy
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Michael Viner/New Millennium: Can't anyone play the shame game anymore?
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Brokers beware: Jury boxes full of stung investors
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S.E.C. Chief Addresses Recent Tension With States
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Oglebay, lenders approve debt deal
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New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Bankruptcy Reform:

Bankruptcy reform stalled; some argue it's not needed
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Courts Clamp Down on Critical Vendor Designations
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Boston: Firms raking large fees in major local bankruptcies
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Chairman of Lawrence, Mass., Polartec Fleece Mill Battles to Regain Control
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Mystery buyer gobbles bankrupt DVI stock
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Cincinnati: Group seeks to buy Mutual
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Austin, Texas-Based Auto Warranty Company Draws Customers' Fury
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Florida Judge Rules that Man in American Financial Group Civil Fraud Case Doesn't Have to Testify
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A chastened Silipigno vows collapse of National Finance will not be his life story
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Full disclosure is the approach to use when declaring bankruptcy
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When 'master' tenant fails: Perils for owner, subtenants
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Bankruptcy an option for National Benevolent
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Corporate Reform:

Days of Clubby Boardrooms Seen Near End
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New York's one-man scourge of Wall Street
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Sarbanes prompting change in acquisition strategies: Public companies faced with uncertain liability for likely private targets
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MCI settlement heads for vote next month
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Asbestos:

Legal recourse on hold for Vermiculite homeowners
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Danger in the attic
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Armstrong World Seeks Crt OK To Extend DIP Loan Maturity
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Kleberg lawyers start firm after asbestos insolvencies doom old firm
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U.K.:

Small firms back move to simplify insolvency rules
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New insolvency reforms take effect
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New insolvency laws comes into force
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Post-war drop in business failures expected
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Banks mark time on insolvency
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Financial restructuring for Telewest
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Millions live without water, gas or power
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Drowning in debt? You don't have to go under
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Fears of an exodus of the bankrupts
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Going for broke
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Back from the brink of suicide - with a little help from my friends
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Insolvency rule change boosts 'rescue culture'
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Dundas & Wilson retains No. 1 rank in Scotland legal review
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Why the pension pot is about to boil over
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Japan:

Standing up to the loan sharks
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Plenty of ways to escape debtors' hell
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The money hole
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Indonesia:

Government to revise draft on bankruptcy law
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Australia:

New Tel's best asset: a case against directors
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River of red swamps ASX
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