August 17 , 2004 

MCI Got $613m 'record' Advice
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Auditors demand 160m for WorldCom/MCI work
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Penthouse Considers Appeal Of Reorg Plan
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Asbestos:

The great asbestos deception
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Hardie boss thinks of investors
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Hardie 'so sorry' but still dry-eyed on claims
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After a bruising hearing, lawyer yields on bankruptcy e-filing
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Accounting:

Suit Accuses KPMG and Others of Selling Illegal Tax Shelters
(NYT: separate free registration required)

Accountants' anger over obligation to report money laundering
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IRS Selects Senior Counsel To Help Focus On Abusive Tax Transactions
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Peregrine keeps investors waiting
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Nortel says RCMP has launched criminal investigation into accounting problems
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Corporate Reform:

(cash) Poor Martha! Diva Tries Illiquid Diet
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SEC staff to recommend civil action against Tyson Foods, company says
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Ex-HealthSouth CEO Scrushy's Trial Set for Jan. 5
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Newspaper will pay for using bogus circ data
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Conseco Gives CEO Rich Severance, Continuing Pattern
(WSJ: separate paid subscription required)

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Kmart Swings to Profit in 2Q; Stock Surges
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Kmart -- a Discounter, Investment Fund, or What?
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Utility negotiating payments with debt-ridden Winona hospital
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Freedom owner's debt woes multiply
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Albany: Closed School Owes State $4.8m
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Aladdin buyers issue letter to reassure rank-and-file staff
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Trump's star power remains intact, despite his business woes
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Fair Grounds signs agreement to avert bankruptcy
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Fair Grounds finds a partner
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Churchill Downs Ends Talks To Buy Fair Grounds Corp
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Big income gaps separate rich, poor
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Canyon Club reaches sale agreement
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A matter of trust--and betrayal
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PACA Rights Destroyed by Oral Agreement Extending Payment Terms
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Bankrupt stockbroker is charged in Weichert kidnap plot
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Court confirms Bob's Stores liquidating plan
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Trustee seeks Ch. 7 for Mooney
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Airlines:

Delta, pilots to resume discussions
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Delta Air Lines board to ponder management's proposed turnaround plan
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Air Canada hopes to fly away from bankruptcy
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ATA warns of looming cash crisis
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US Airways seeks to delay payments
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Specter decries US Airways' service cuts
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Struggle Ahead
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US Airways seeks to spread out pension payments
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Bronner says he's willing to lose stake
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Some Problems Faced by U.S. Air Carriers Are as Old as Stage Coaches and Steamships
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One-off gain at Swiss hides continuing losses
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EU presses Italy over BA-Alitalia fare row
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U.S. Wants to End Airline Pact
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Law:

Ex-Clifford Chance lawyer suspected of murdering Iraqi official
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UK: partnership -- the paths to the top
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How Did They Do It? -- Landing a general counsel post
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Kirkland losing a top partner to Conseco
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Veteran Lawyer to the Stars Stealthily Sets Up Own Shop
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Calm in a crisis -- disaster recovery plans
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Portland, Maine, sees influx of satellite law offices 'for the lifestyle
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Global reshaping brings trials for Baker & McKenzie law firm
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Law firm Proskauer Rose is launching a practice devoted to representing other law firms in partner disputes
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Fiorini accepts plea bargain
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Economy:

Consumer Confidence Fell in Mid-August, Index Indicates
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Oil Slips Below $46 on Venezuela, Russia
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Oil prices down from record highs, but analysts say $50 barrel still possible
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Tax-cut policies put economy in the tank
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Dow Jones surges ahead 129 points
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Schlotzsky's won't file quarterly reports
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Kaiser posts net income, postpones estimated emergence from bankruptcy
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Environmental Safeguards Inc, subsidiary Onsite files for chapter 11 bankruptcy protection
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Debtor's Assumption of an Executionary Contract is Really a Shield From Preference Liability
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Hi-Rise Recycling Announces Chapter 11 Filing and Sale of Business Assets
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New Bankruptcy Opinions
(1 new opinion today) 

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings
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Weird News
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Court case may power hedge funds' debt claims
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"Asset-tracing" -- Finding and recovering misappropriated assets
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Enron:

Singer Crosby skewers Enron (with audio)
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Investors Offer $15 Million Rate Cut For PGE
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Telecoms:

Leap Wireless emerges from Chapter 11 bankruptcy
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Fifth Circuit Delineates Boundaries of FERC, Bankruptcy Jurisdiction
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Riverside County, Calif., modular home builder Aurora fades into bankruptcy
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FiberMark says it could be out of bankruptcy this year
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Court confirms Haynes International Plan of Reorganization
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Rollex wins Ormet bid
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Can Credit Counselors Solve Problems?
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UK:

Subordinated debt clause in a deed of indemnity did not infringe the pari passu rule
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10m fund for firms in distress
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Bankrupt's claims for race discrimination and victimization vested in his trustee in bankruptcy. The bankrupt could, nevertheless, pursue claims for a declaration of race discrimination and compensation for injured feelings
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Canada:

Dollar store chain up for sale
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Buck or Two operator files for bankruptcy
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New Zealand:

Tackling industry-wide tax evasion
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Russia:

Oil giant Yukos in plea for time
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Russian court to consider Yukos's plea to suspend enforcement of tax bill
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IMP's Moscow hotel seized
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Yukos 'allowed to sell till end of September'
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Tanker firm cuts credit to Yukos
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Signals are mixed from Yukos
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Thailand:

TPI to call creditors' meeting to vote on revised debt restructuring plan
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