September 25, 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:

Enron Sues Citigroup, J.P. Morgan, Four Other Banks
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Enron suit strikes back
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Merrill, other banks named in Enron complaint
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The Complaint (large download)
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Enron sues investment banks
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Enron Files Court Complaint Against 6 of Its Former Banks
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Enron blames its banks
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Royal Bank, Enron Loan Probed by Court Examiner
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RBC unflustered by investigation into Cerebus loan
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Asbestos:

GOP to Combine Asbestos Reform in Jobs Bill
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The asbestos crisis / Congress must end the flood of lawsuits
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Prospects look dim in Congress for asbestos trust fund
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Accounting:

PwC losing US tax work
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SEC's Donaldson Seeks Information from Exchanges
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Should I Accept That Invitation to Be an Audit Committee Financial Expert?
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Grant Thornton CEO Calls for Principles-Based Approach to SOX
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Airlines:

United reduces net loss, posts operating profit
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Midway gets 2 more weeks
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Air Canada expects new equity investor by November
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Firm gets right to buy Air Canada stock
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Air Canada probe taking 'too long': watchdog
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What do suitors see in Air Canada?
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Air Canada Provides Restructuring Update; 10th Monitor's Report Available
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Senate Pension Bill Could Postpone Billions in Airline Funding Requirements
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Air Canada reports growing cash deficit, delay in picking equity investor
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County disputes US Airways economic study
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US Airways' argument has merit
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Some seek bargains, others share grief at Doc Freeman's
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“All clients are innocent until proven bankrupt”
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Adelphia Loses Bid for U.S. Files
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Credit card delinquency falls
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Letter from Delaware - Lots of lawyers using Section 327A, a new chief judge in Delaware, American Tissue sues DLJ and more
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Fitch Warns U.S. CMBS Special Servicers: Play Fair or Else
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Wade Cook's headquarters sold at auction to developer
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DIP dimensions: Twinlab Corp. - Negotiating a debtor-in-possession loan can be a nervewracking experience
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Steel:

Creditors try to weather WCI bankruptcy
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Reorganized Special Metals names five to board of directors
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Energy:

PGE agrees to pay on claims of market manipulation
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PSC seeks voice in NWC bankruptcy
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PSC lacks the money to oversee bankruptcy
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NorthWestern wants to keep using corporate credit cards
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Ailing Mirant Corp. Won't Say How Many Jobs Will Be Cut
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Mirant announces more job cuts
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Former Indian Motorcycle Workers Unsure of Next Step
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Fitch releases credit derivatives survey
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  Cone Mills:

Cone Mills files for Chap. 11, accepts buyout
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Cone Mills in Chapter 11
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Cone Mills Files Under Chapter 11 With Financing And WL Ross Offer
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Cone meeting could be fractious
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The Impact of State Insolvency Laws on Termination and Set-Off Rights in Derivatives Transactions with U.S. Insurance Companies
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Law:

Bankruptcy lawyer Eklund switches firms
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Trial Consultants' Work Product Protected
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White & Case signs off £3.6bn US-Dutch UPC restructuring deal
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Baker & McKenzie relocates IT functions to Asia
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Mofo Re-Elects Wetmore as chair
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Business Origination: How Law Firm Owners Can Get Credit Where Credit Is Due
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Four missteps partners must avoid when planning for business success
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Nine ways law firm owners can optimize cash flow. When
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Clifford Chance delays lockstep vote in bid to build more consensus
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Despite the downturn, law firm owners have increased their spending for legal information
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How one firm's owners demonstrate a commitment to clients
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Allen & Overy faces conflicts investigation
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Going Supersonic with Litigation Extranets: How Not to Crash and Burn
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101 Resources to Help Law Firm Owners Better Tackle Work/Life Balance Issues
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Reuters makes 20% of in-house team redundant
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Firms slash associate intake
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SJ Berwin begins hunt for US partner
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Lawyerbasher
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US allies benefit from British firm's widening referral net
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Chairman-CEO of Pittsburgh Law Firm Steps Down for Dick's Sporting Goods Post
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Californian out-of-state rule reform fails to open up market
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What do I pay you for?
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Rite Aid's ex-counsel, 75, goes on trial
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Recruiting partners in 2003
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Lawyers call for harmonization of cross-border practice rules
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Linklaters launches NY insolvency arm
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Client reporting dispute splits lawyers at key International Bar Association debate
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Law firms are finding they can no longer get away with not providing formal training for their staff
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Insolvency experts say companies ultimately paying for rising consumer debt
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Tepper's hedge-fund bets on Conseco earned $68 million
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Conseco Gathers Paperwork for FBI Probe
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Miami travel firm to file for Chapter 11
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Swain separates from Chapter 11-bound US parent
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Globus and Cosmos Announces Rescue Plan for Far & Wide Customers
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Judge approves Exide exit loan
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'90s excesses led to many bankruptcies
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Pyramid Schemer's Wife Can't Keep Land
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Bankruptcy of Councill Craftsmen May Save Furniture Jobs
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Borrowing trouble - Bankruptcies soar 17% as Colorado heads for another record year
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Turks Marooned in Philadelphia Love Cheese Steaks
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Artemis Says It Will Sue US Lawyer Over Executive Life Claims
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Akron mayor candidate apologizes for saying firm is bankrupt
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Spiegel puts distribution complex on auction block
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Tarzana Man Accused of Hiding Assets In Bankruptcy
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New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Does Your D&O Policy Protect You in Bankruptcy?
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Telecoms:

MCI fires back at AT&T suit - asks court to hold AT&T in contempt
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Supra adds charge for outside DSL service
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Road clear for Global Crossing buy
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Bankrupt Leap Wireless Reports $243.7 Million Quarterly Loss
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What's next for NextWave?
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AirGate PCS, Inc. Announces Recapitalization Plan
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Corporate Reform:

SEC Wins Order Halting Vivendi's Payment to Messier
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Seven state treasurers called on the SEC to conduct an independent review of the Big Board's operations and governance
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Board Accountability in Troubled Times
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Koz heads for court and the strain shows
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Preventing a Corporate Death Sentence: Governance after Sarbanes-Oxley
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The Biggest Trial in Years - Former CSFB Banker Quattrone Recalls Excesses of Tech Bubble; Trial Hinges on Single E-Mail
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Goldman shares fall as risk rises
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UK:

Row over NatWest insolvency test case
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Ex-directors hit back at Equitable
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Scottish Debt Recovery: Major Changes on the Way
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Australia:

Pan workers' jobs on the line
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Pan stoush heads to court
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Bankrupt barrister's wife stripped of assets
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Argentina:

Argentina Offer Prompts Threat of Lawsuits From Bondholders
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Argentina dismays bondholders
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Thailand:

Thai TPI Creditors Vote Not To Call Event Of Default
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France:

Paris Looks to U.S. on Bankruptcy
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France's True Colors Fly Over Alstom
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Canada:

Noble China Inc. to restructure under CCAA
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Canadian Baseball League - Bad business
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Student bankruptcy outdated, panel told - Law that prevents discharging of loans for 10 years under fire
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Germany:

German Business Confidence Rises to 2 1/2-Year High
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China:

Challenge of Beijing's distressed assets sale
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Chinese trade union president vexed at debts borrowed for workers' payment
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Japan:

Resona faces 1 trillion yen loss as bad loan disposal takes toll
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FSA says Resona bad loans underestimated
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Don't Believe the Bulls on Japan
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Korea:

Credit risk still climbing in Korea
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Singapore:

Number of individual bankrupts in August up 25% from a year ago
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