September 29, 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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The great American burden - A new report shows rapid growth in families' debt from credit cards
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US households not overburdened by debt-Greenspan
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In truth, borrowers not thick-headed after all
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Impath Files for Bankruptcy Protection
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Enron:

New PGE plan doesn't quiet critics
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Why trust Enron?
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A long haul for Enron grand jury
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Prosecution beefs up its Enron Task Force team
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Portland Gen'l Electric Files $8.5M Settlement With FERC
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Judge Softens Nevada Utilities' Interest Blow on Enron Payments
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Asbestos:

Miss. High Court to Rule on Asbestos-Tobacco Suits
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Big Three sue Honeywell over brake unit sale plan
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Justice on asbestos delayed and denied
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Policy alarm as reinsurers back away from asbestos risk
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Excite@home Suit Aims At Partners
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Freddie Mac's strategy: Too much risk
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When 'master' tenant fails: Perils for owner, subtenants
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Spendthrift turns profit on debt tale
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Corporate Reform:

One year after Sarbanes-Oxley, consequences for abuse are clear
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Thank Grasso for Spotlighting Policing Problem
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NYSE interim chief John Reed is expected to seek the removal of Wall Street chief executives from the stock exchange's board
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Rite Aid Executive's Federal Trial to Begin
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No one involved noticed how insane Grasso's pay package was
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E-mail the key to CSFB/Quattrone fraud case
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Quattrone's Judge Carries Uncompromising Reputation
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Tyco trial tests the waters
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In Tyco trial, lifestyle may be state witness
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The SEC is probing possible insider trading by two Morgan Stanley mutual funds
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Just a few get to use the shortcuts along the road to wealth
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Corporate governance: The continuing revolution
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Energy:

Court says lawsuit against Mirant board can proceed
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Allegheny Energy Outlines Efforts to Avoid Bankruptcy
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TCE taps former TXU risk manager: Allen energy company hopes to emerge from bankruptcy soon
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Bankruptcy filings leave investors more cautious
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McGrath to represent state agencies in NorthWestern bankruptcy case
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HealthSouth:

Scrushy saw conflict of interest: Went ahead with self-enriching opportunity
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15th Ex-HealthSouth Exec to Plead Guilty
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Formica expected out of bankruptcy in months
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You must sell losers to satisfy the tax man
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'VeggieTales' plays out as struggle for survival in bankruptcy court
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DVI, Inc. Announces Preliminary Review of Reserves to Cover Doubtful Receivables to Result in Substantial Increase of Reserves
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Actrade Sets Out Details Of Chapter 11 Liquidation Plans
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  Airlines:

Hong Kong tycoon's son may save Air Canada
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Air Canada Selects 2 Investor Finalists
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Reckless remittance man, or visionary with the midas touch?
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Law:

Foley & Lardner eyes Edwards & Angell
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Foley 'in hunt' for East Coast merger: Top candidate is firm from Providence, R.I.
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Law firms seek out expertise of PR pros
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SEC Too Busy to Hire Lawyers
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Electronic Data Discovery: How to Manage Information
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Woman wins case against prestigious British law firm
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NYS Bar Readies Bid to 'Unbundle' Lawyers' Services
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Buchanan's COO may be next in line
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New England Firm Lays Off Staffers
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Lawyers Fight Over Diet Drug Settlement
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Firms take steps to hire minority lawyers, but progress remains slow
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Cadwalader Plans Radical Growth After Choosing to Stay Downtown
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Specialized Canadian lawyers find global demand
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Top Firms Take S&L Verdict to the Bank
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Gov't contracts still hot as firms look to ramp up
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Clifford Chance Raises Some Associate Bonuses
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Miles & Stockbridge decides to stay downtown
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Microsoft to pay millions in the Bay Area: Lawyers' payday could reach $100 million
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Taking a closer look at corporate debt
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GM Tower Sells for $1.4B
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J.A. Jones files in bankruptcy court
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Owner of Bankrupt Anchorage, Alaska, Tour Firm Denies Charges of Fraud
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Telecoms:

MCI's Capellas knows when to take a risk
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Allegiance in bid to save $95M
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Telecoms rethink access system
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From the ashes of a telecom, a startup is born
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Urban Communicators Rides NextWave Legal Legacy
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Adelphia Communications posts $5.9-million US operating loss for August
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STT Sees Global Crossing Deal Closed Soon
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Federal Grant for Laid-Off Touch America Workers in Montana Delayed
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MCI/WorldCom benefits from fraud, bankruptcy status
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Cone Mills:

New board at Cone to fight Ross deal
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Cone Mills Hldr Grp Says Dissident Nominees Win Bd Seats
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Court OKs Interim DIP Finance Deal For Cone Mills
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Steel:

Wanted: U.S. steel mergers
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Resignation of CEO Leaves AK Steel Retirees Unsure about Benefits' Future
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Upside to a down market: great deals on leased space
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Developer submits sixth bankruptcy filing in seven years
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Bankruptcy Judge Puts Advanced Glassfiber's Labor Negotiations on Hold
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Everything is negotiable, even taxes
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Filing for bankruptcy could dig you in deeper
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New Bankruptcy Opinions
(2 new opinions today)

Bankruptcy Court Web/Pacer Site Directory

Weird News
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'Bottom feeders' confirm Triad's weakened state
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Doctors aren't immune from bankruptcy upswing
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Shuttered mortgage firm sued: Capitol Commerce hires bankruptcy attorney
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Appetite for D&O starts to grow again despite threat of US suits
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National Warranty leaves drivers flat
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Tyson: Down for the count
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Consolidated Freightways execs sue parent company over pension
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Accounting:

Firms look to reap benefits from Sarbanes-Oxley Act
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Former CPA escapes from prison in S.C.
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NYSSCPA First to Share CPA Ethics Violations With Authorities
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Pittsburgh: City's financial crisis may only get worse
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Stocks of bankrupt firms are risky, with big rewards
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Symphony owes plan to bankruptcy court Tuesday
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Credit Card Scam Cost Victims More than $106 Million
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How Bank of America Stumbled
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Sanctions imposed in connection with forged signature

Far & Wide's action brings travail to travel
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North Carolina Textile Makers Cut Jobs, Close Mills as NAFTA Hopes Fray
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Partner Mortgage files Chapter 11
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Welcome to the sleazy world of lending
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Alstom shows Europe//U.S. insolvency gulf -analysts
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UK:

Legal sting in the tail for debtors who volunteer for bankruptcy
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Warning on phoenix rise after insolvency law change
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Imperial chiefs paid themselves over 6m
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Screws tighten on investors in British Energy bailout
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NTL Paying Ex-CEO Knapp $6,000/Day Consulting Fee
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British Energy nears deal to avert financial collapse
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British Energy on the brink
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Australia:

No decision on Pan's production license
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One.Tel ghost gets on creditors' committee
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Luxury life of dotcom flash in the pan - wunderkind of the internet craze, is offering $350,000 to settle debts of $21 million
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Italy:

Cirio Should Be Shielded From Bankruptcy, Panel Says
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Japan:

Shinsei Bank to Bid for Failed Retailer Matsuyadenki
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Daiei gives Colony first shot
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IRCJ takes salvage target list up to six
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India:

From Debt To Death
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Argentina:

Argentina says will not budge on debt offer
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Indonesia:

APP, Big Creditors Reach Deal
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