September 24, 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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Enron:

Examiner eyes RBC deal
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Formica Corporation Files Plan of Reorganization
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Trial of Commercial Financial Services Founder Begins with Venue Request
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Asbestos:

Cleaning up asbestos suits
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Hold Off on Armstrong World Industries Reorganization Plan, Creditors Say
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Increase in US asbestos reserves may hit UK insurers
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Accounting:

PricewaterhouseCoopers Quits as Royal Bank Auditor
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Accounting Industry Seen As Cooperative
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Pittsburgh: City neared insolvency as schools built surplus
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Telecoms:

Qwest Communications Receives Financial Reporting Waivers for Credit Facility
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Telecom Equipment Cos Waiting On The Fat Lady
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WorldCom extends Digex deadline
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NextWave Licenses: Cingular Has Agreed To Pay $1.4B
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Long-Distance Trouble On The Line
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Energy:

N.Y. okays transfer of PG&E power plant to banks
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PSC needs money to play role in NorthWestern bankruptcy
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Aladdin, creditors resolve bankruptcy case dispute
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Court will hear objections in Farmland case
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John Richards Homes Granted Motion Forcing Sale of $2.8 Million House and Other Assets of Prominent Broadcasting Executive - Court Rules that Kevin Adell Bought House in Florida to Evade Paying $6.4 Million Judgment
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Bank reaches out to laid-off Pillowtex workers
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Bankrupt Estate of Great Northern Paper Sues Seven Firms to Recover Payments
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Space carriers braced for $140m sat loss as Telstar 4 shuts down in space
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Morgan Stanley Reports Third Quarter Net Income of $1.3 Billion With Return on Equity of 22.0%
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FTI Consulting Engaged In Discussions to Acquire Dispute Advisory Services of KPMG
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Detroit: Court Grants Part of Temporary Restraining Order Request Against Greektown Casino $11 Million Debt
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CFM Corp. acquires fireplace firm Temtex for US$7M in bankruptcy sale
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  Vultures circle their prey
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Airlines:

Creditors discuss joint Air Canada bid
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Delay In Air Canada Search For Equity Partner
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Aeris files for bankruptcy
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United Rejects Denver Offer For $10 Mil In Concessions
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Pilots’ union chairman calls Hawaiian pension default ‘insulting’
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Hawaiian posts profit of $20.3M in August
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Shuttle America Pilots Agree To Wage Concessions
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Law:

Lawsuit industry generates billions
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Hurricane Isabel Rains Out Firms
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Looking the Part: What to Wear
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Dewey Ballantine Launches Italian Practice
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Top Firm Lays Off Staff
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Malpractice Verdict Returned Against LeBoeuf Lamb
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Firm Leader Defects
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Tyco Defense May Argue Loot Was Loans, Bonuses
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Group Alleges Document Prep Service Provides Legal Advice by Nonlawyers
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Homeless Screw
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SEC Issues Conseco Subpoena
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Level with workers in tough times
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Two Ex-PurchasePro Execs Plead Guilty
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Eastern Pulp, Owner of Two Maine Paper Mills, Is Slow to Exit from Bankruptcy
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Borrowers don't always find salvation in bankruptcy
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Steel:

Judge Provides Weirton Steel Reorganization Extension
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100,000 U.S. Steelworkers Urge Bush Keep Tariffs
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WCI Steel's Bankruptcy Leads to Health-Care Worries
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Bethlehem Steel Settles CERCLA Claims
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Swiss Financier Ebner Goes on Trial on Insider Trading Charges
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FCA Tackles Preferred Stock Policy At Farm Credit Assns
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Court Rules in Favor of Wisconsin Employees of Bankrupt Businesses
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Furniture maker Council Craftsmen filing Chapter 11
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Delaware court says sale of GM Building can proceed
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Teamsters at Aiken, SC Fiberglass Plant Seek Equality to Save Company in Peril
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Variety Wholesalers pays $11.2M for bankrupt company's assets
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Smell that? Something reeks on Wall Street
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Liparita Cellars winery files bankruptcy
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Japan:

Colin Says Carlyle Will Support Its Rehabilitation
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Russia:

Beating the Sword of Bankruptcy
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UK:

£160m That's How Much Our Clubs Are In Red
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Accident Group creditors to vote for liquidation
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Eurotunnel May Restructure Debt Before Breaks, Subsidies End
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Australia:

Pan founder drops indemnity claim to save bail-out offer
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Pan backers to fight liquidation decision
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Farce at Pan liquidation meeting
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Court hands tax-dodging barrister's house to trustees
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Pan workers pitch-in to save drug company
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Paying tax with credit 'irresponsible'
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France:

Alstom investors flee on news of US lawsuit
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Argentina:

Wall Street taken aback at Argentina request to shave 75 percent off debt
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Iraq:

Toppling of Saddam leaves debt questions to be solved
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Canada:

Earns $952 a month, Holoday says
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Germany:

WestLB calls in receivers at Boxclever units
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