September 9, 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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Telecoms:

MCI Appears to Forge Deal With Creditors
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WorldCom Reaches Outline Agreement With Creditors
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MCI close to rescue as creditors hint at deal
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Proskauer Rose's Hirshon: WorldCom Bankruptcy Hearing
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WorldCom Hearing Starts, Then Stops for More Talks
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WorldCom Judge Delays Hearing Over Creditor Claims
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Oklahoma Prosecutors Must Link WorldCom Fraud to Former CEO to Prove Charges
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Ebbers: 'A Lot of People Got Hurt'
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Judge Sets Deadline for WorldCom Settlement
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New Mexico Sues WorldCom for Investment Losses
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Verizon Wireless buys Devon assets for $10.5 million cash
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Nucentrix sells assets to SBC for $15M
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AboveNet, Inc. Emerges From Chapter 11
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Alliance Communications Of Denver Files Chapter 11 Bankruptcy
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Bush Set to Approve Singapore's Deal for Global Crossing
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Phone Retailer Zap Inc. Files for Chapter 11
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Why the middle class never had it so bad
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Airlines:

United set to prune costs by $5 billion
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Air Canada bondholders dig in heels
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Specter decries airline's dawdling
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Air Canada becomes media fodder
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Air Canada bondholders don't like offer
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Packed planes please airlines
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United to Launch Low-Cost Unit in 2004
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Support for Established Union of American Airlines' Mechanics Drops
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Atlas Air says NYSE suspends trading in its stock, bankruptcy under consideration
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Bankrupt DVI is granted debtor financing
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CIBC to pay $52 mln fine to bond buyers
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Lawyers line up to sue Spitzer-probed mutual funds
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Fund probes shine spotlight on trustees' role
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Conseco:

Day of reckoning arrives for Conseco bankruptcy plan
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Court OKs $3.75 million for former Green Tree workers
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DDi Files Joint Plan of Reorganization and Related Disclosure Statement
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VeggieTales Sold As Big Idea Declares Bankruptcy
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Enron:

Enron's Former CEOs May Face Criminal Charges Soon
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Probe of Enron Ex-Officers Heats Up
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City of Portland grapples with wayward bankruptcy
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New Bankruptcy Priority Bill Introduced
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Law Firms:

Associate Pay and Bonuses Remain Flat
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Law firm pays $2 million to settle SEC suit
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Brussels Sprouts U.S. Law Firm Offices
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Hollywood visits Alston & Bird looking for actors for Bobby Jones movie
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The jealous gods of international law
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September 11 emergency grants snapped up by brokers, lawyers
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Kleberg Law Firm has closed its doors
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Top Firm Chairman Is a Real Bobblehead
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Can those Chinese walls keep a conflict of interest in check?
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Energy:

PG&E calls for limit on bankruptcy case hearing
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Consumer group bids Calif. court rehear Edison pact
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Seitel Gets Another Interim DIP Loan Extension
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DataWorld Solutions, Inc. Announces Favorable Strategic Restructuring
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Senate opens Tenet probe
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Steel:

Weirton Seeks Time to Plan Reorganization
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Special Metals pushes for deal - Company chief says he will trade $70,000 bonus for contract approval
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Tentative agreement brings optimism at Special Metals
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Three Bidders Competing For Wheland Foundry Property
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Consumers Borrow Big in July
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Judge postpones HomeGold hearing
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Credit counseling group opts for new name, services
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Kmart adds financial control
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Federal Lawsuit Calls for Liquidation of St. Louis-Area Stock Brokerage Clearing Services of America
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Tourism, Real Estate in Northwest Florida Prosper, but Bankruptcies Are Up
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Mississippi Chemical to try again on DIP
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New Armstrong World Industries Owners to Get Revamped Board
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Avalon Digital Marketing Files Chapter 11 Bankruptcy In Utah
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Waddell & Reed Faces Paying $25 Million To Fired Broker
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Hilco Trading Co. expands despite troubled economy
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Underappreciated corporate foot soldiers may be quick to bolt when the economy rebounds
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Supervalu to Swap Operations With Fleming
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Reorganization Plan Closer for Bridgeport, Conn., Collectible Car Firm
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Closed business may be sold - Mutual owner Flow Corp. in bankruptcy
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Michael Hat Bankruptcy Update
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Judge releases National Warranty Insurance Co. dealer funds to pay service contract claims
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Debit-card settlement challenged by retailers - $609 million legal fee controversial
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Hawaii: Bankrupt Nu'uanu cemetery closed
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Mid-Tennessee plagued by high bankruptcy rates
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Chapter 11 bankruptcy filings in Wisconsin have doubled this year
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Cross Country Bank penalized for bankruptcy law violations

Accounting:

Former Logicon Exec Targeted in SEC Case
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Women choosing to embrace profession
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Debt Danger Lurking in Shadows, IMF Says
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England:

Minister declares war on white-collar crime
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Sheffield Forgemasters Rolls Ltd - in administration
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Canada:

Ottawa appeals decision that awarded Amertek $80 million, says CBC
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Export Development Canada Loan Reserves Erase Profit
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3 1/2 years' prison for bankruptcy fraud culprit
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Australia:

Backflip on Pan
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Bart sweetener moves him closer to restarting Pan
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_________________

Argentina:

Argentina threatens to default on debt
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France:

New talks planned on Alstom rescue
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Japan:

Contenders prepare to take on Koizumi to lead party
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New Zealand:

Big PC maker closes doors
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