August 10 , 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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Enron:

Lay is ready, willing and funded for trial
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Former Enron chief requests to be tried separately, and soon
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Two Big Handfuls for Weil Gotshal: WorldCom and Enron
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Asbestos:

My Asbestos Patients
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St. Paul Travelers Annual Asbestos Reserves Review Expected To Generate $575 Million Charge
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Hardie hints at sweetening compensation offer
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Hardie Regrets Asbestos Decision
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US talks for T&N pension scheme
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U.K. Pension Issue Bogs Down Federal-Mogul's Bid to Emerge
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Unions fly out for T&N crisis talks
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Mixed cast of characters
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Icahn seen as amenable to T&N union drive
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James Hardie Q1 profit up, to meet yr estimates
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Lawyers had no reason to question James hardie: Inquiry
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Steel:

Heico to Buy Steelmaker Ivaco for C$375 Mln
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Wheeling-Pittsburgh Steel Corp. posts first profit in years: US$27.1M
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Steelworkers asking court to save pensions of 2,000 workers
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David H. Hoag, former LTV Corp. chairman, dies
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Energy:

Bankrupt Mirant reports small profit in second quarter
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Executive Bonuses Ruffle Mirant's Creditors
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Economy:

Productivity slowed in the second quarter to 2.9%, its slowest pace in 18 months
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Oil hits new record high
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Rising oil prices threaten economic recovery
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Oil Holds Near $45 After Iraq Shutdown
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Dow Closes Down 147 to New 2004 Low
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U.S. Economic Recovery Reverts to Jobless
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Great Northern suppliers fight return of 'preferential' payments -- Bankruptcy law supports estate's 'crazy' demands
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Conseco, Inviva Settle Annuity Probe
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Superior National Liquidator And Centre Draft Terms Of $912 Million Settlement
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Bankruptcy Filings Stabilize
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Trump:

Trump to shed stake in ailing casino company, bankrutpcy reportedly planned
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Trump casinos going bankrupt
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Trump Hotels To Pay Chmn Trump $2M Salary Under New Pact
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Trump Hotels planning bankruptcy
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Trump Hotels to Reorganize
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Trump to say 'You're fired' to himself
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Donald J. Trump and Private Equity Arm of Credit Suisse First Boston Partner in Recapitalization Plan for Trump Hotels & Casino Resorts
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Toy Makers Try An End Run Around Wal-mart
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Coal miners to lose health benefits under court ruling
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The new poor -- the middle-aged
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Judge rules that bankrupt coal company does not need to honor labor contracts; union promises appeal
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Airlines:

Airlines are increasingly using bankruptcy -- or the threat of it -- to retool for today's changing aviation climate
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Delta threatens bankruptcy
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Delta says deep cuts needed to stave off bankruptcy
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Delta 'burned through' $744 million year-to-date
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Delta gives lifetime of free airfare to former finance chief
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Delta fears cash crunch
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United seeks court extension to file plan
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Pensions on a Shaky Edge
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UAL lenders loosen DIP
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Pilots Vow to Fight United on Pensions
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Delta says it plans to tap into cash reserves
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Delta pilots retiring early in greater numbers
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Canada Backs C$100 Mln Loan So Delta Can Buy Bombardier Planes
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US Airways cuts more nonstop flights
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Will Southwest replace US Airways?
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Airline, union to meet in D.C.
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Avianca says reaches productivity pact with pilots
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Brazil Government Plans to Bail Out Varig Airline
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Law:

Sharp decline in jury trials poses dilemma for lawyers
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"Thou shalt not sue the investment banks."
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ABA Wants to Put Jurors on Active Duty
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Cravath tops Vault's debut partner poll
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Sidley Austin joins US firms' prolonged raid on Linklaters
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Parmalat firms Weil, Origoni forgo fees after spurning bank claims
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NY Firm Teams Up With Largest Israeli Firm
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US firms lead drive for European space
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Tyco's legal advisers next to face the axe in weed-out
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Sun Microsystems' law firms are threatened by cull
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Squire Sanders' talks dead end
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UK lawyers swallow risk with more no win, no fee
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Coming Up Short on Queens of Torts
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Rank and file in frame for Lovells top position
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Giggling Drunk Lawyer Delays Hearing
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Accounting:

E&Y fears bankruptcy
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$136 million Qwest expense tied to 'abusive' tax shelter
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IRS auditor risks jail for exposing secret tax deal
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Halliburton judge may recuse himself
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Adelphia Bidders Preparing Purchase Proposals
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Access Care files for Chapter 11
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Financially Distressed GIs Look to Banks for Help
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Consumer debt: A Fragile House of Cards
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Firm files suit against Finova Thaxton creditor
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Teen seeks to buy bankrupt maker of gun that left him a quadriplegic
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Decision near in lackluster Eddie Bauer auction
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Conseco settles with SEC, ex-COO
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'Big 11' exec Kilian to pay undisclosed sum
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Texas clients had different Conseco gripe
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HomeGold lawsuit papers to be public
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Jillian's Auction to Be Held September 21, Bids for Assets Due September 14
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Trustee requested for AmeriDebt
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Democrats Want Wall St. Firms To Make SIPC Disclosures
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Judge rejects petitions in Carolina Investors case
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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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Judges target lawyers who resist electronic bankruptcy filing
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J.P. Morgan Faces National Century Lawsuits
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WestPoint Stevens close to reorganization plan
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Telecoms:

MCI pushes to settle $2 bln tax claim
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MCI May Write Down Value of Assets
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MCI: $453 million in errors on books during bankruptcy
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Selling Adelphia in pieces a tall task
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Bankruptcy throws wrench into Landry's plans on Galveston pier
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Beard dumps Schlotzsky's stock
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Theft case shows vulnerability of stored credit info
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Corporate Reform:

NYSE Asks That Grasso Countersuit Be Dismissed
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Partner Is a White-Collar Wizard
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Corporate Fraud Task Force still has work ahead of it
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Summer Severance Packages Are Blockbusters
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UK:

Corporate failures fall at their fastest rate
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Pensions safety net fails thousands of workers
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Guides to The Insolvency Act 2003 - Part 2
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Fewer Scots firms go bust
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Italy:

Parmalat To Reject Some Bank Claims On Debt
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Parmalat Claims 17 Million Euros from Deutsche Bank
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Parmalat Sets Sept. 18 as Deadline for Comments on Creditors
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Parmalat aims at its next target in legal spree against former lenders
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New Zealand:

Bankrupt linked to new venture
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Russia:

Bailiffs seize YUKOS subsidiary again
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Yukos stake in Yuganskneftegaz seized again
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Russia Refreezes Key Yukos Subsidiary's Shares
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The troubles of Yukos drive up the price
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Yukos Shares: Swinging Resumed
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Yukos Saga Seen Keeping Oil Prices At Highs In Short Term
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Analyst Suspects Yukos Is Behind Minority Shareholders' Lawsuits
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Argentina:

Argentina vows to pay IMF debt
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Telecom Argentina swaps about 87 percent of debt
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Canada:

New Skeena's bankruptcy protection extended
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Sirius Files Bankruptcy Plan
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Software company VoiceIQ gets bankruptcy protection so it can restructure
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Questerre Updates Corporate Restructuring
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South Africa:

Motala inquiry ensnares NUM in pay-offs controversy
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Details of demise of Garveni Creations raise new questions over liquidations
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China:

China's Cinda to sell 10b yuan of bad assets
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