September 19, 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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Steel:

Steel Tariffs Appear to Have Backfired on Bush
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How Far Will Steelworkers Go In Helping Ivaco Inc.?
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Competing Offers from Lenders Encourage Officials at Ohio-Based WCI Steel
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Specter: U.S. to Maintain Steel Tariffs
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WCI Steel Bankruptcy Finance Plan OKed
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Bankruptcy May Lead to Buyout for Warren, Ohio-Based WCI Steel
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Warren, Ohio, Steel Company's Turnaround Effort Gets Swamped by Competitors
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98 Members of Congress Urge President to Maintain Steel Safeguard for Full Three Years
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Steel Tariffs Appear to Have Backfired on Bush
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Court Approves WCI First Day Motions
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Rome Cable to end operations
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AK Steel's President and CEO Step Down
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America's richest just getting richer
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The ferry tale continues: Doesn't anybody want the Kalakala?
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State Supreme Court upholds Conseco dismissal of director
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U.S. Trustee Gives Green Light to Sale of Wheland Automotive Plant
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Law:

Top Firm Looking for New Digs Finds Landlords are Wary
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Brobeck Forced Into Bankruptcy by Landlords
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Client solicitation court battle with White & Case enters final furlong
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Judge Signs $38.3M Judgment Vs Correctional Svcs in Boot Camp Death
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Zurich slashes approved firm UK panel in half
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Baker & McKenzie has transformed its North American business model
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Allen & Overy to launch new regime on conflicts
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Apparel company AMI files for bankruptcy
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Accounting:

Dissent Occurred on Travel Rebates at Pricewaterhouse
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Arkansas Rulings May Hurt Reputation of PwC
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PwC, EY and KPMG Accused of Travel Billing Irregularities

Suit Against KPMG Is Dismissed - Lawsuit Claiming KPMG, Other Advisors Gave Bad Tax Advice Could Be Refiled at Later Time
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7 in Homestore Case Agree to Settle Charges
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FASB to Propose Additional Disclosure for Acquisitions

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Will credit derivatives encourage more lending, or will they harm the interests of borrowers?
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  Enron:

A look at the three companies projected to emerge from Enron bankruptcy
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After Enron, Bankers Weigh Clients' Motives
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Enron boosts what most creditors will get
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Estimate to benefit creditors
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Door Closed on Late Enron Filings
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Enron creditors can expect only 16% back
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Glisan Plea May Still Help Enron Prosecutors
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Glisan likely to testify in Fastow trial
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PGE stakeholders assess Enron's amended Chapter 11
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Judge bars Simplified Employment Systems tax scam plea deal
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HealthSouth:

HealthSouth Sees Audit Done By Summer Or Fall 2004
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HealthSouth Doesn't See Having To File For Bankruptcy
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Airlines:

Institutions pile in to Hawaiian stock
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Major Airlines May Be Flying Too High
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US Airways: Pittsburgh hub worth 17,000 jobs
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Energy:

NorthWestern Corp. Outlines Steps to Emerge from Chapter 11
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Utility optimistic on avoiding bankruptcy
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California Winery Woes: From Boom to Bankruptcy
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Court Allows U.S. to Sue Breast Implant Manufacturers For Breast Implant Injury Costs
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NHL Says Players' Salaries Put League in Financial Peril
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Corporate Reform:

Search Begins for Grasso's Replacement at New York Stock Exchange
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Big Changes for the Big Board
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Grasso Should Have No Problem Finding Job
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Sonsini declines NYSE interim chair
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Calls mounted for some NYSE board members to quit
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CalPERS "Will Not Rest" Until NYSE Meets Demands
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Capping Pay Of CEOs Is the Way to Go
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Polaroid Earning Money For New Owners, Documents Show
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New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Court Approves Acterna's Sale of Itronix; Emergence from Chapter 11 On Track for Early October (Business Wire, 09/18/2003 12:59 pm)
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PanAmSat sees more buys, but not Loral
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New chairman's salary outlined by Penn Traffic
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Bankrupt DVI files for larger financing package
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Veggie Tales: David vs. Cash Flow
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Patriot Seed Bankruptcy Will Have Minimal Impact in Northeast Iowa
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U.K.:

Receivers poised at British Energy
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British Energy Still Working On Restructuring Plan
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France:

The battle over Alstom
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Alstom Bankruptcy Proceedings Highly Likely-Government Official
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Hints of Alstom bankruptcy appear in France-European Commission showdown
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Japan:

People-power driving Japan renaissance
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Hong Kong:

Hong Kong August Personal Bankruptcy Orders Rise 25% Over July
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New Zealand:

Plug pulled on The PC Company
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Australia:

Insolvencies: Blight of the phoenix
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Pan game goes down to the wire as third option emerges
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Mexico:

ING's Mexican Unit Sues Judge Who Froze Bank Accounts
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Germany:

German 1st Half Corporate Insolvencies Rise 9.1% Vs Year-Ago
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Mittelstand debts threaten German banks - many of the country's medium-sized businesses are "essentially bust"
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Thailand:

TPI offers reduced interest payments
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