April 7, 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:

Weirton Steel remaining silent on counteroffers to ISG's bid
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Note-Holders Bid On Weirton Steel ISG Gets Outbid, But The Bid Still Goes Through Management For Approval
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U.S. fund buys debt of Slater Steel unit
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Imperial Cap Announces Bid By Weirton Steel Corporation's Informal Committee Of Senior Secured Noteholders To Buy Assets Of Weirton Steel
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Weirton Steel gets competing bid for assets
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Fugitive executives name new CEO at Mexico's Ahmsa
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Creditors counter International Steel Group's bid for Weirton Steel
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Asbestos:

ABB's Asbestos Hearing To Be Held June 3
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USG weathers minefield of litigation
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Accounting:

Ex-Livent auditors charged with misconduct
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General Mills says SEC has asked for additional information about loading
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IRS leader tackles $225 billion tax gap
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Corporate Reform:

Juror Wanted to Acquit Tyco Execs
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Tyco Juror Denies She Gave ’OK’ Sign
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Tyco juror Ruth Jordan denied to fellow jurors that she had signaled solidarity with the defense team by using a hand gesture
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A Challenge to Sarbox Constitutionality
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Courts consolidate slew of trading-scandal suits
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Broker Testifies on Margin Loan to Rigases
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Firms Are Changing to Comply, Not to Improve
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Judge puts embattled debt service chief back in charge
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Exec bled $314 million from firm, suit claims
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Important Modifications to Rules Governing Cancellation of Debt in a Consolidated Group Background
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Spiegel putting Eddie Bauer on block
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Creditors key to Eddie Bauer sale
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Eddie Bauer deal eludes big stakeholder
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Three judges, one $2.265 million divorce
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Farmland Industries Expects Reorganization Plan to Become Effective May 1
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Farmland creditors object to possible $7.4M to Cleberg
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Deal edges Farmland near end
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Employers sue to get medical bills paid -- Meridian Benefit's bankruptcy left the local companies with $3 million
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SES Americom Signs Deal to Acquire Verestar Assets Out of Bankruptcy
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Solutia Inc February Loss $29 Million
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County urged to make deal to reopen bankrupt hospital
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KB Toys seeks court approval to sell Internet business
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  Weil Gotshal Partners Akiko Mikumo and Marcia Goldstein Named 'Dealmakers of the Year' by The American Lawyer
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Airlines:

Fitch lowers Delta debt rating
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Air Canada seeks reprieve from creditors
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Air Canada accuses WestJet of espionage
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'Vulture' talons feared - Milton doesn't want investor to 'rip' up AirCan
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Air Canada unions want Milton to stay out of talks
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Ottawa says still on sidelines in Air Canada talks
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Investors waiting in the wings
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Alitalia says it can last for only a month
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Judge Makes Ruling In UAL Bond Dispute
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US Airways boss in plea to staff
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Delta Air to Drop Regional Carrier, Seek Replacement
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Congress would put pension fix on taxpayers' backs
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Law:

Merger Brings Enormous Headaches for Sidley

Cop-Lawyers Walk a Rarefied Beat
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What are the best law firm employment options for a first-year female lawyer thinking of having kids?
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Lawyers Rehearse at Supreme Court Practice
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The 2004 Corporate Scorecard
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Lovells hires Clifford Chance partner in NY push
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One Price hires financial adviser
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The case of the bankrupt, the search engine and some libelous aquarium enthusiasts
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Hayes Lemmerz finances get boost from bankruptcy emergence
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Credit Firm Warns: Don't Ship To Athlete's Foot
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BNP Paribas confirms U.S. operations probe
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Examiner will look at Met Mortgage
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Franklin Capital Get Going Concern Notice On 10-K
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SMTC Corporation Faces Going Concern Issue
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StemCells Gets Going Concern Qualification
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Vista Medical Gets Going Concern Qualification
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Former HomeGold worker says he was told to get rid of documents
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Startec to emerge from Ch. 11
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Buffalo Sabres' unsecured creditors closer to getting paid
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Corporate Tax Bill Containing IRS Authorization to Utilize Private Collection Agencies Stalled in Senate
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Rosemont promises fight in court if Madigan blocks deal
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US ranks 18th in least corrupt business cultures
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Many Americans Don't Save, Plan Enough for Retirement
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New Bankruptcy Opinions
(6 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings
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Weird News
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Enron:

Judge caps further Enron demands for cash from Nevada utilities
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Lea Fastow set to find out sentence
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Fastow may get split sentence
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Memo presents homey side
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Connecticut Superior Court Holds That Excess Insurer is Not Required to Drop Down to Fill Coverage Gap Created by Insolvency of Primary Insurer and Bankruptcy of Policyholder
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Telecoms:

iPCS provides Sprint pact details
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Orion hopes Ch. 11 stay is brief
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UK:

Labour MPs urge pensions rethink
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Eurotunnel Shares Rise as Investors Set to Oust Board
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D-Day for Eurotunnel
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Deep in debt
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Ministers refuse to budge on pensions payout
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Support for lost pension action plan
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UK Payment behavior worsens - Cloudy Optimism for 2004
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Mayflower Administrator Fires 300 U.K. Bus Workers, Union Says
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PwC's Mayflower probe in doubt
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Canada:

Court puts Doman on short leash
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April 30 deadline proposed for new Doman restructuring plan, but which plan?
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Doman poised to file plan
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Korea:

Dongah Construction Put on Sale
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Australia:

Elliot loses conviction appeal
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Elliott signals High Court action
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Creditors consider unified front to extract money
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China:

China's Bank Regulator Targets Bank Staff Sweetheart Loans
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China tightens screws on bank lending to curb risk
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Chinese top legislature to deliberate new bankruptcy law in June
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Czech Republic:

Spidla, bank CEOs agree on amendment to bankruptcy law
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Thailand:

Thai TPI May Pay Div, If Debt Restructure Successful
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