April 23, 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
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Steel:

Bankruptcy Judge OKs Weirton Steel Sale
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Attorney: Suitors serious about mill
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Stelco's `culture of mistrust'
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Stelco CEO urges new relationship with unions
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Stelco may seek Ottawa aid after plan delays
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Slater to sell Welland unit
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Agreement to Sell Assets of Atlas Specialty Steels
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Collapse would kill 24,500 jobs: Stelco
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Telecoms:

Level 3 big on bonuses but short on guarantees
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Accounting:

Insurance group turns down Andersen claims
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Shell security escorted leader out
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Supreme Court Decides Household Credit Services v. Pfennig
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Corporate Reform:

Son of footwear chain founder pleads guilty to fraud charges
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Aon subpoenaed in Spitzer investigation
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Wellington, executive fined, censured
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Sanctimonious in Sacramento
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I Didn't Mean It, Your Honor
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Energy:

PG&E Gets OK to Distribute Refunds
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TVA lays off 106 employees; 550 leave voluntarily
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Horizon of Ashland wants to liquidate
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PSC, lawyers study NWC reshuffle plan
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Utility debt-holders vs. outside buyers
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Perryville sale in the clear
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Millions in debt, CashPoint bill-paying service is suspended
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$50m Check Cash Shock
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Adelphia eyes possible sale
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MCI and Telmex raise Embratel deal price
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Adelphia:

Adelphia Considers Sale To Flee From Bankruptcy
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Adelphia to explore pre-exit sale
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Witness: Adelphia made 'bogus' adjustments to subscriber data
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Adelphia Equity Committee Welcomes Decision to Put Company's Assets up for Sale
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Pressure mounts for Adelphia to sell
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Troubled market ponders offer
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Judge to consider new Eastern Pulp offer
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Crown Pacific Partners Posts $177.3M 2003 Loss
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Intrepid to get $25M DIP loan
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Agway liquidation confirmed
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Regions forcing personal bankruptcy on Nelson C. Andrews
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Spokane, Wash., Developer Bids on Bankrupt Mortgage Lender's Office Tower
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Exemption of Life Insurance Policies From Bankruptcy Approved
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Moody's cuts Exide Technologies ratings
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  Penn voted to head bankruptcy association
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Edwards & Angell Opens Wilmington Bankruptcy Office
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Airlines:

Delta chief to face investors
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Shareholder says report shows value in Hawaiian Air stock
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Atlas Air Worldwide Holdings, Inc. Files Reorganization Plan
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Profits sagging at JetBlue
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Vacationers could feel airlines' pinch
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Goodbyes at the airport
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Northwest pilots offer pay cut
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Skies sunnier for Midwest Airlines
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Points likely safe even if Air Canada liquidates
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Air Canada boosts reward program
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Insolvent Air Canada shuffles several execs in reorganizing operations
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United reaps benefits of Medicare law
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UAL Bankruptcy Court Recharacterizes Leases as Secured Financings
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Italian government to approve 'emergency' decree to help Alitalia
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Asbestos:

Creation of asbestos fund fails a test vote in Senate
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Asbestos bill fails in Senate
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U.S. Senate Bars Bill to Create Asbestos Fund
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Baucus can't slow asbestos bill
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Senate agrees to resume asbestos talks
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Economy:

Market surges as new jobless claims slowly recede
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Newspaper Job, Housing, Auto Ads Gain in Sign of U.S. Recovery
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Fed Probably Won't Raise Rates at a Rapid Pace
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Office vacancy rates still falling
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Greenspan Elaborates: Rate Hikes Are Coming But Inflation Still Low
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Law:

UK Firm Lays Off Partners, Raises Billing Targets
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Sullivan & Cromwell Gets Flexible
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Texas Firm Opens New York Office With Lateral Hires
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No Pay Hikes for UK Associates ... Again
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Mitsubishi in deep trouble after DaimlerChrysler denies cash
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Mitsubishi to support MMC after Daimler pulls out
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No bailout for Mitsubishi, DaimlerChrysler decides
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Microsoft's profit hit hard by legal costs
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Former Carolina Investors VP Released On $30,000 Bond
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Lawyer for Anne Owen says she lost money, too
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Ex-Investors VP is scapegoat, attorney says
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Economists see Michigan economy poised for turnaround
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IMCOR Pharmaceutical Co. - Going Concern Doubt
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Are Poor Countries Better Off Without Banks?
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Federal Judge Holds Hearing on Bess Eaton Sale Today
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New Bankruptcy Opinions
(4 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings
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Weird News
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Foot Locker outbids Finish Line for struggling shoe store chain
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Nonprofit's creditors: Don't tap DIP - The National Benevolent Association of the Christian Church has been trying to convince a judge to save its endowment
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PBGC Assumes Control Of Pensions At Ingersoll Intl
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Toy Maker LeapFrog Falls on Hard Times
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Enron:

Prosecutors ponder move over Skilling's `irrational' behavior
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Companies file motions in Texas landfill bankruptcy case
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WestPoint Stevens gets extension
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Phoenix-Based Adult Novelty Chain Emerges From Bankruptcy
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Haynes International, Inc. Receives Final Court Approval of $100 Million Debtor-in-Possession Financing; Company Also Secures $100 Million in Exit Financing
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UK:

International Power may sell plants to CGE
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Collapse of Mayflower Raises Questions
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Abbey shareholders hurl abuse at directors
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Eurotunnel loses finance chief
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Impoverished Celts bemoan lure of Anglo-French riches
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Krasner tight-lipped on fresh takeover talk
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Argentina:

Argentina portrayed as 'deadbeat'
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IMF ultimatum to Argentina inimical to all concerned
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IMF: Argentina Must Resolve Disagreement with Creditors to Sustain Growth
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Argentina's Cablevision Debt Deal Still On Track
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Italy:

Parmalat court cases challenge Bondi's grip
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Southern Cross to bid for Parmalat assets
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Canada:

Doman seeks rich buyer
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CN considers cutting hundreds of jobs
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Korea:

Business Sentiments of Small Firms Worsens
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Government's SME Plan Could Ease Bankruptcy Worries
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Japan:

Japan bank shares fall on revived bad loan worries
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Russia:

Police Raid Yukos in 1999 Tax Probe
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Yukos Says Police Search Moscow Office in Tax Probe
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South Africa:

The risks in consulting debt collectors instead of lawyers
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