December 16, 2004 

Daily Bankruptcy News

Brought to you by BKINFORMATION.COM - The Source for Business Bankruptcy Information on the Internet 

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Enron:

Enron CEO's bonus request is on the back-burner
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Enron pursuing assets in unclaimed property list
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Airlines:

ATA accepts offer from Southwest
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Southwest wins battle for ATA assets
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Delta Restructures Rewards Program
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UAL warns of $725 mln loss without labor savings
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Union counters airline's proposal
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WestJet sues Air Canada alleging abuse of courts
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Delta weighs Comair spinoff
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Corporate Reform:

SEC puts forth changes in rules for stock trading
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Time Warner settles charges, pays $500 million
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SEC To Seek Added Comment On US Market Reforms
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First Command To Pay $12M To Settle, SEC, NASD Charges
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SEC chairman settles Aetna fraud lawsuit
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Securities Cops Probe Tipoffs Of Placements
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Law:

Partners give DLA -Piper Rudnick merger qualified thumbs up
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Paul Weiss and Cravath seal 2004's largest deal
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Clifford Chance braced for liability auction as Brobeck hearing nears end
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New York elite get set for bonus hike
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Clifford Chance sees exodus as profits drive continues
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Partner Sues to Break Up Boutique With NY Office
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Judge Wears Ten Commandments on Robe
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Recent study reinforces belief that some attitudes commonly attributed to the "legal culture" are not conducive to a balanced and satisfying professional life
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The good old days
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The real reason behind the Piper/CLA merger
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As law firms emerge from the latest dip in the economy, they are re-evaluating the policies they embraced in the downturn -- particularly those related to the laying-off of staff
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Accounting:

FASB to finalize stock-option plan
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Fannie Mae violated accounting rules and must restate earnings for the past four years
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Steel:

S&P puts Severstal rating on CreditWatch
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Court okays Trump loan
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Seattle schools face millions in cutbacks to avoid insolvency
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Electro Prime firms file for bankruptcy
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Miners can't dig themselves out of health-care hole
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Men suing Chi-Chi's for 'hepatitis soup'
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Don Johnson's Bankruptcy Woes Nearly Over
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Freedom will play baseball in 2005
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Windham Mill Project Files For Bankruptcy
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As market growth slows mobile giants to cut sweet commission deals with stores
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Yukos:

Russian oil fight lands in Houston
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Yukos Ridiculed Idea Of Texas Jurisdiction In 2002 Case
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Yukos tries a Houston long shot
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Russia on Trial
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Yukos files for Chapter 11
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Khodorkovsky: Chapter-11 Filing Won't Help Yukos Hldrs
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U.S. Recognizes Yukos Right for Court Protection
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Court sanctions arrest of another person figuring in Yukos case
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Yukos Bankruptcy Filing Has No Power In Russia -ITAR-Tass
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YUKOS US hearing set for Thursday, court seen wary
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Deutsche Bank challenges YUKOS move
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Deutsche Bank Lawyer Fights Yukos Bankruptcy Petition
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Yukos Wants Judge to Stop Asset Auction
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Desperately short of options, Yukos makes plea to US court in bid to avoid sale
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Yukos files for bankruptcy protection in Bush's backyard
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Drinking at last-chance saloon
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Yukos news does not send stock prices up
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Yukos Breakup Seen Imminent, But Impact On Output Limited
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YUKOS management may be entitled to vote during extraordinary meeting
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Yukos Turns to US Court in Last-Ditch Effort to Prevent Sell-Off, Russian Officials Shrug Off Move
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Yukos board won't recommend shareholders vote bankruptcy
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Yukos claims asylum in Texas
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Houston Judge To Hear Yukos Case
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YUKOS Awaits US Ruling on Break-Up Order
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Key events in YUKOS affair
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Court source says Yukos' bankruptcy filing has no legal consequences in Russia
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Yukos lists Russian govt, SocGen as top creditors
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Yukos Shares Rise
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Yukos files for bankruptcy protection, trying to stir up political support from US?
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Yukos says authorities want $27.54Bln in taxes for 2000-03
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Yukos has spent all its own capital, management says
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Asbestos:

Federal-Mogul gets $65M in tax breaks
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Bush Wants New Congress to Limit Lawsuits
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U.S. Chamber Applauds President Bush for Renewed Commitment to Ending Lawsuit Abuse
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Report Bolsters Harris Poll Findings on Abusive Legal Climates; Madison County, Ill. Earns Distinction of Top Hellhole
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Ex-aide to Conyers guilty of fraud
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Toy store of toy stores returns with a flourish
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Burden Growing on Pension Group
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What We Didn't Plan For
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Summary Judgment Decisions Set Stage for WorldCom Accounting Fraud Trial
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Judge Rejects Banks' Motion to Dismiss WorldCom Bond Case
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Young v old in battle to cut trillions off pensions
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High-Yield Debt Boom Could Pay Off
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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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Law Firms Wade In as Pension Fights Accelerate
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Heilig-Meyers at square one -- Mistake throws into doubt a ruling that it was solvent when it filed for bankruptcy
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Dispute could scrap President sale
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Judge approves Ormet's bankruptcy plan
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Michigan-based Intermet plans to close plants
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Economy:

Kudos and caution voiced at economic summit
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Bush View of Economy at Odds With Forecast
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SEC Suspends Trade in Absolute Health And Fitness Stock
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BearingPoint Gets Subpoena From US Atty In Calif
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US financier Ross and group to bid for Italian telecom
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UK:

Corus deal saves steel jobs
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MyTravel not yet there
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MyTravel recovery costs more jobs
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Japan:

Japan govt body to call for 5.7 billion dollar aid to Daiei
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IRCJ makes Wal-Mart iffy on Daiei rehab
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Fuji Country Fails, Leaving Y180 Billion In Debt
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Malaysia:

Metroplex winding-up on the cards
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Singapore:

CAO parent denies pledge to take on losses
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China Aviation Oil to contest lawsuit over SPC deal
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Korea:

LG Strikes Back Creditors Over Bailout Plan
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Sovereign expresses regret at court ruling in favor of SK Corp
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Australia:

Counselling service critical of bankruptcy fee plan
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Architect of ``Aussie Enron' is guilty
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India:

Bankruptcy of exit ideas
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Liberia:

Tough Choices Awaits Liberia - Financial Trusteeship, or Slide into Failed State?
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Canada:

Concert Industries Ltd. Announces Plan of Arrangement Receives Court Approval
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Second settlement in $100 million class action as Canadians send big banks message through web site
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