September 3, 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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Asbestos:

Halliburton sees delays in asbestos settlement
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Halliburton Arranges Financing for Asbestos Settlement
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Halliburton Hits More Delays in Asbestos Settlement Plan
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It's asbestos vs. Big Tobacco
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Mississippi high court to hear asbestos company claims against tobacco makers
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Law Firms:

Law firms hit by corporate slowdown and rivals
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Regularly Scheduled Programming - Lawyers spent $311.3 million on TV commercials in 2002
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Venture Law Group Joins Heller Ehrman
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Two West Coast Law Firms to Merge
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Stephen LaPlante Joins Miller, Canfield, Paddock and Stone As Senior Counsel In The Bankruptcy Group
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San Joaquin County, Calif., Growth Shapes Law Firm's Work
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Leading Tax Attorneys Join Shaw Pittman LLP from PricewaterhouseCoopers LLP
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Kaswell to Leave Securities Group for Dechert
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State Fights The SEC - State Bar Warns Lawyers Against Permissive Disclosure Under Sec’s New Rules
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Prohibition on Citing to Unpublished Decisions May Be Removed
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Court infighting reaches Congress
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Telecoms:

ATT Files Racketeering Suit Over MCI's Handling of Charges
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Text of AT&T Call Routing Lawsuit Against WorldCom
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MCI Questions Rivals' Practices In Routing Calls
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AT&T Sues Worldcom For 'fraud'
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WorldCom Faces Civil-Racketeering Suit, Tax Claims
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WorldCom hit with AT&T suit
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MCI Reaches Proposed Settlements With IDT Corp, Others
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Oklahoma's Economy Could Suffer Blow in WorldCom Case
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Independent Directors Discuss Efforts to Rescue WorldCom
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US tax rule could cost MCI $7 billion
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Touch America: A few benefit; the public tidies up
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Court Extends E.Spire Communications DIP Loan To Oct 31
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BCE Sued Over Bell Canada International Debt Swap
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Court Approves Superior Telecom Ch 11 Plan Disclosure
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Corporate Reform:

Rights are cheap in governance crusade
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Big Board, Big Payday
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MCI Plan: New Governance Era? Critics Say No
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Nascent Factory Recovery Isn't Bringing Jobs With It
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Enron:

Bankruptcy Court Rejects Bonus Recipients' Attempt to Move Bonus Recovery Litigation Out of Houston
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Kowalski acknowledges subpoena, denies Enron involvement
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Sale of Enron Tower Moves Forward; Creditors Likely to Get Bulk of Proceeds
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Grand jury probes CRRA-Enron deal
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Newspaper appeals to court for Enron transcripts
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With title cleared, Enron tower sale on
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The rating agencies are under review for their failure to downgrade Enron more promptly. The only trouble is, proposed reforms might make things worse
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CNA Surety Estimates Loss on Large Commercial Account
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Energy:

Nevada Power may borrow to cover judgment
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Sierra Pacific warns of bankruptcy risk
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Midland, Texas Judge Reduces Punitive Damage Award to EOTT Energy
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FERC Judge: Responses To Power Mkt Gaming Order Secret
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FERC: Responses, Settlements, Dismissal Motions Filed
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Executive Life:

Lyonnais seeks out-of-court Executive Life settlement
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Lyonnais faces deadline in California fraud case
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Credit Lyonnais to Plead, Pay in Executive Life Case
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Debt Collector Lays Off 406 Employees in Sacramento, Calif., Area
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Huron Consulting Group Adds to Valuation Leadership
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Formica Gets More Time To Hash Out Chapter 11 Plan Terms
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The Seven Deadly Sins a Turnaround Manager Commits
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Steel:

Former Bidder for Buckeye Steel Could Become Its Rival
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Eagle Announces Second Auction Results
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Involuntary unemployment and depression often go together like graveyards and darkness
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Magellan Health Cred Still Seeks To End Plan Exclusivity
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Colorado bankruptcy rate fastest in nation
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FTI Consulting Completes Sale of SEA Group
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A major low-income child-care firm scrambles to survive bankruptcy
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Is a Bankruptcy Estate Subject to Self-Employment Tax?
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End of line for Skunk Train - Historic railroad that brings big tourist dollars to North Coast runs into serious money woes
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US survey finds people in poverty up by 1.4m
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8 Signs You're Living Beyond Your Means
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Court Denies Exide Tech Creditors' Plea To Delay Ch11 Case
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Two Top Executives Resign at Pittsburgh-Based NSD Bancorp
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New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Airlines:

ATA to Delay Some Plane Payments
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Financiers vie for Air Canada stake
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Air Canada may face index removal
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Jet giants rev up fight for Air Canada's nod
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ATA to defer plane deliveries
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Airline Holding Company ATA Proposes $300 Million Note Swap for Bondholders
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Olympic Airways faces strike threat over bid to revamp troubled airline
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Wells Fargo Acquires Bankruptcy Services Firm Trumbull Associates
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PC Richard wins Wiz auction for logos, customer lists
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The Wiz: Auction Runs Up Price For Trade Names, Logos
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New York’s Economy Still in Slump
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Bankruptcy Sale of Debtor’s Property “Free and Clear” Terminates Lease
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Crisis Coverage: Insurance for Business Interruption
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Ex-Earthlink Big Slatkin Sentenced
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Reed Slatkin to attempt to blame others
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Debtor In Possession Financing
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HomeGold seeks delay for hearing
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Accounting:

New Accounting Issues Derail a Filing
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Finance Salaries Increase as Visibility of Finance Function Rises
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Credit repair rarely a quick fix
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Advanced Lighting's Creditors Seek To Appoint Ch 11 Trustee
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SunCruz bets on bigger boat
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Managing Your Risk: Deepening Insolvency Liability from the Financial Advisor’s Perspective
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Bankrupt Pillowtex Owes Workers Vacation Benefit Funds
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Judge gives go-ahead for Azon lawsuit
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Japan:

IRC takes tough line on bailouts
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IMF Sees U.S. Rebound, `Tentative' Japan Recovery
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Was 'reform without sanctuaries' an empty pledge?
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England:

Shareholders lose out, as over £4 billion is tied up in run-off
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Mexico:

ING Mexico staff in hiding amid insurance dispute
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Fertinal court decision forces foreign companies to think twice
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Thailand:

Bankrupt Thai Power Company's Creditors Plan New Appeal
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