April 12, 2004 

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

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Airlines:

Delta's low-flying image
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US Airways Gives CEO Siegel $11M Package
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Moody's downgrades US Airways aircraft-backed debt
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Behind-the-scenes player has key role in talks between US Airways, unions
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Chicago Judge in United Airlines Restructuring Case Appears Solidly Grounded
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Air Canada bankruptcy protection extended
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Bush OKs Pension Aid to U.S. Companies
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How much is Hawaiian Airlines really worth?
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Air Canada plan is all about being connected
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Dissident owns 5.7% of Hawaiian
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Airlines flying high as Senate OKs pension-relief measure
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Onex kicking tires at Air Canada
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Air Canada revised business plan calls for $200M in concessions from unions
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Cerberus Seeks Permission to Reopen Air Canada Talks
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Saving Trump's booty
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Trump towers over TV ratings as shares tumble
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Experts agree: 'Apprentice' finalists have right stuff
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Enron:

Fastow Fallout: Angry Husband, Low-Income Jury
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Conflicting details emerge on Skilling incident
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Skilling attorney denies bizarre-behavior report
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Crazed Enron honcho collared by cops
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Enron's Skilling Reportedly Hospitalized After Bar Episode
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Ex-head of Enron taken into custody after complaints he was drunk
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Enron Big Tanked
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Both sides to explore options to avoid Enron figures trial
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GE, Bechtel win Enron's stake in India power firm
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REL Plea On Enron Stake Rejected
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Judge approves rules for Enron's MEGS auction
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Sentencing of Enron auditor delayed
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Bankruptcy Code preempted homestead provision

Telecoms:

Plano's Corban on the auction block
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Cingular Completes Acquisition Of NextWave Licenses
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WorldCom Defends Corporate Structure
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MCI asks court to postpone Embratel sale hearing

MCI will confront a cruel market
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ATX Communications Says SEC Will Start Probe Of Company
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U.S. fiscal policies adding crushing weight to national debt
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Texas judicial district sees jump in bankruptcy filings
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Jobless claims fell last week
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Utah bankruptcies down 8%
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Government seizures begin to spur backlash
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Despite recession's closure, bankruptcies soar in Wake County
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EPresence Faces Going Concern Doubts, Plans To Liquidate
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Bill allowing for private collection of tax debt sees some light
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The productivity boom has made asset owners rich -- and left many wage-earners behind
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Bankruptcy numbers reach mile high
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Gaming board knew of town's alleged mob ties
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  Steel:

Weirton Steel's wait nears end with auction
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Weirton bondholders envision lean company
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ISG, Weirton Sale Must Pass Review Hurdle
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Creditors Object to Weirton Steel Sale
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Steel prices hitting home
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WCI Steel Distributes Financial Reorganization Plan
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Union upset about attempts to interfere with Weirton Steel sale
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Suitor meets with Weirton union head
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Law:

Judge Disqualifies Top NY Firm Over Ethics Violation
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Outlook Bleak for This Year's Crop of Law School Grads
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The Role of National Coordination Counsel
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Unpublished Opinions: Inedible Sausage or Crazy Uncle?
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More firms are outsourcing support services to India. Will legal work be next?
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Attorney goes where opportunity is: Baghdad
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Free services boosted with Dechert plan
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Squire Sanders appoints Burns to operations director
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Partners at large firms do more than simply practice law
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Legislators take aim at attorney advertising
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Law firms step up hiring after slowdown
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Accounting:

IRS issues warning for employers that cheat on payroll taxes
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IRS Expanding Audits of Corporate Execs
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Audits of Businesses Down Last Year
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Drug maker AaiPharma gets subpoenas over financial results
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Attorney-Client Privilege: CPAs and the E-Frontier
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Shell Report Blames Ex-Officials for Reserve Overbooking
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IRS audits of corporations continued to drop last year despite a turnaround in action against individual taxpayers
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FASB Publishes Exposure Draft on Changes to Accounting Rules for Equity Compensation
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Corporate Reform:

Oversight needed on hedge funds
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Perk parade hits a bump
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Energy:

Federal judge rejects attempt to keep PG&E in bankruptcy
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Pacific Gas and Electric Company Makes More Than $77.5 Million in Property Tax Payments to California Counties
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PG&E clears last hurdle to end bankruptcy
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Mirant judge wants independent examiner
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Redstone bankruptcy will bite county, businesses
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Reliant Indicted in 2000 California Plant Closings
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Asbestos:

Brakes Come Off Mechanics' Asbestos Suits
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RPM Intl Had 4,659 Active Asbestos Cases Feb 29
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Asbestos bill #1 on agenda when Congress returns (scroll down)
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More on Mesothelioma
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Some Push Adelphia to Sell Assets While Still in Bankruptcy Court
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Bankruptcy Trustee Suspends Bala's Control Over Racing Services
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New Bankruptcy Opinions
(3 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings
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Weird News
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Bankruptcy not on Frist's radar
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$20 million price tag to save National Benevolent: Five states object to legal, consulting fees related to bankruptcy
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Dot-com bust isn't over for workers
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Kerry creates 'misery index'
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Technology Eases Bankruptcy
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Blue Skies and Green Yards, All Lost to Red Ink
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WestPoint Stevens Gets Final Court OK To Sell Looms
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More senior citizens confront bankruptcy, credit card problems
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Americal files for bankruptcy protection
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The Spiegel Group Reports March Sales
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Looking Out for Desperation Finance in PIPEs Deals
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Subcommittee Staff Report Admonishes New Entrants to Credit Counseling Sector
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aaiPharma Makes Offer to Bondholders
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Climbing mountains
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Troubled LA hospital hires turnaround consultant
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Ousted PurchasePro chief denies wrongdoing
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UK:

Creditors give Eurotunnel 3 months notice
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New Standard Life blow
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HSBC payment failure led to Mayflower fall
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Mayflower management troubles flagged up a year ago
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Deloitte uncovers ‘deliberate’ £17m invoice ploy at Mayflower
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Terror fear could force banks to seize Eurotunnel
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A very French coup. They make it all up as they go along
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Tunnel board alarms lenders
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How the jewel of Poole was lost
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We owe it to ourselves to worry about debt
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Scotland's new Debt Arrangement Schemes will prevent creditors from judgment enforcement except in special circumstances
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Auditor liability cap row comes to a head
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Spend now, suffer soon: debt will start hurting
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Italy:

Deloitte May Have Concealed Parmalat Irregularities
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3 Ex-Parmalat Execs Under House Arrest
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Eight billion reasons to destroy Parmalat 'Account 999'
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Ruling dilutes power of India's banks
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Italian Judge Releases Parmalat's Tanzi From Jail
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Pakistan:

Cleaning up the corporate clutter
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India:

Breathing Life Into The Securitisation Act
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Life after debt : Even the crooked have rights
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Australia:

Receivers looming for Epic Energy
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Japan:

Auditors face closer scrutiny after scandals
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Tokyo pushes prefectures to brink of bankruptcy
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