April 22, 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

Prior editions available at http://bkinformation.com/bankruptcy_news.htm
Search prior headlines at http://bkinformation.com/PriorEditionsSearch.html

         
Telecoms:

Law Firms Rack Up Big Figures in WorldCom/MCI Bankruptcy
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NextWave settles for best licenses
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Telmex Increases Bid for WorldCom's Embratel Stake
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MCI Sheds Bankruptcy, Slashes $35Bln Debt
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Workers lost jobs; wasn't that punishment enough?
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Turnstone Systems Announces Settlement of Digital Broadband Litigation
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AT&T'S profit fell 47%
(WSJ: separate paid subscription required)

Industry Eyes FCC/NextWave Settlement Implications
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FCC, NextWave both claim victory in settlement
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MCI still interested in buying up Belgian unit
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Firm Opens Two Satellites
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Ruling in MCI fee battle delayed
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Steel:

Creditors call Weirton 'gem in the rough'
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Weirton Could Earn Up To $120M A Year: Creditor Consultant
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Cleveland Steel Maker Likely to Announce Bid for Georgetown, S.C., Firm
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Labor pact plays central role in Weirton buyout
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WCI Steel's Reorganization Plan Includes Support from New York-Based Owner
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Law:

Scandal-hit Shell to bolster law teamís role
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Ex-Boss Strikes Back at Associate
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UK elite put cap on associate pay
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Dentons in talks to avoid multi-million pound Asia bill
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Couple get five years for law firm thefts
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Partner promotions at top UK firms continue to drop
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Jones Day Opens New Office in San Diego
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Much vaunted model for saving money on outside counsel is now the standard
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The 2004 In-House Tech Survey
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In California, Corporate Associates Are Again in Demand
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Jobs Still Scarce for Law Grads in Connecticut
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Low Visibility - law firms migrating to collaborative cultures
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UK firm slashes equity partners in profits drive
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Mutual Satisfaction -- insurer is hiring additional in-house lawyers and keeping more work in-house
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Lawyers spend less money on first dates with lawyers than they do with non-lawyers
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The united colors
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Lateral Hiring Increases at Big-Tex Firms
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No more mergers?
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The Paper People -- Lawyers create tons of documents, and specialists who help them manage the deluge of data have found plenty of work
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U.S. 1st qtr asset-backed bond downgrades jump-S&P
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  Airlines:

Low-fare carriers call for United cuts
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Pilots union at US Airways likely to begin bargaining in May
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Hawaiian Airlines Reports Profits
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Hawaiian Air Swings To Profit In 1Q From Yr Ago
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Air Canada Market Share Falls to Lowest in 4 Years
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American strains to find footing after shaky year
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Two More Major U.S. Airlines Post Losses
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America West Airlines pilots' union claims employees are responsible for Q1 profit
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Outsourcing didn't pay off for Conseco
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Enron Debacle Jeopardizes Syrup Industry
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Groups fight plan to sell two struggling HMOs
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Adelphia:

Adelphia to Explore Possible Sale of Company as Part of Chapter 11 Process
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Adelphia puts up For Sale sign
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Group bids for Adelphia asset
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Adelphia Seeks Extension Of DIP Loan To March 31 2005
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SGI plunges after revised forecast
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Penthouse Announces Closing of Transaction with Certain Creditors and Security Holders
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Energy:

Horizon Announces Plans of Reorganization
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PG&E Corp. Reaffirms Positive Outlook in Report to Shareholders
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PG&E chief faces irate crowd
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Shareholders grill PG&E executives on pay packages
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Energy Traders Indicted
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Corporate Reform:

Computer Associates Says Kumar Steps Down Amid Probe
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Computer Associates Ponders Fraud Inquiry and Chief's Fate
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Rigas Said to Dupe Analyst on Purchases
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MediaBay Files Annual Report on Form 10-K
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Kaiser says RusAl bids $295 mln for Alpart stake
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S&P commentary examines debt secured by stock
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Magic Lantern Group Gets Going Concern Qualification
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PharmaNetics Has Going Concern Qualification
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Prosecutors Say Capital Consultant's Lavish Trips Wooed Clients
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Judge holds out hope for deal on paper mills
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Battle over Oglebay's fleet looms
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Repo agents run into tough scenes when hauling debtors' cars
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Exide sees Chapter 11 exit as bankruptcy plan OK'd
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Dunkin' Donuts Franchisees Raise Ante for Rhode Island Coffee Shop Chain
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New Bankruptcy Opinions
(2 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings
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Weird News
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Accounting:

Options-expensing debate heats up
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Shell Report's Release Is Delayed
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Americal files for Chapter 11 bankruptcy

Deep debts: You can accumulate too much 'college credit'
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Asbestos:

Senate Leaders Agree to Reopen Asbestos Talks
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Frist considers Thursday vote on asbestos settlement despite Democrats' objections
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US Sen Frist: Open To More Negotiations On Asbestos Bill
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Congressional Agency Estimates Federal Asbestos Trust Fund Is Underfunded
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High court upholds MBNA credit card practice
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Union at Former Lincoln, Maine, Paper Mill Approves Proposed Buyer's Contract
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Carolina Investors VP To Be Arraigned Thursday
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Tower Records settles hacker charges
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Bankruptcy Court Approves Foot Locker, Inc.'s Purchase of Approximately 350 Footaction Stores From Footstar, Inc. for $225 Million
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Sale of Omaha, Neb., Laboratory Automation Company Lab-InterLink Is Opposed
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UK:

MPs attack banks' denial of debt crisis
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Creditors back Eurotunnel on keeping staff
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Pub where Dylan Thomas imbibed inspiration and alcohol sold at an auction
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Australia:

Former One-Tel directors to withhold documents
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One.Tel bosses challenge evidence ruling
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Italy:

Parmalat seeks bankruptcy protection for soccer club
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Russia:

Yukos Says Police Search Moscow Office in Tax Probe
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Canada:

Quebec furniture maker Bestar cuts 115 jobs, restructures to improve finances
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South Africa:

New bid to clean up liquidation industry
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Israel:

Over 26% of realtors close shop
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Nauru:

Nauru's president returns home, amid growing financial crisis
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Demonstrators greet Nauru president's return
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