December 20, 2004 

Daily Bankruptcy News

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

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Half Of Americans Worry About Debt
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Airlines:

Making due as airline flies
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Carrier off course for restructuring
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Southwest deal keeps ATA aloft
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ATA investors nervous
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Gambling on Delta
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UAL, Pilots Shoot Down Defined Benefits
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United Airlines Says Shopping Business Plan To Lenders
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United stirs a hornets' nest on pensions -- Deal with pilots outrages flight attendants
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US pension agency rebukes United Airlines over plans to dump pension plan
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Pilots cut pension deal with United
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US concerned about UAL/pilots deal on pension plan
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Court OK US Airways Agreements With GE
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Northwest Airlines pushing for pay scales of bankrupt competitor
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US Airways Mechanics Make Final Plea
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US judge to rule Jan. 6 on US Air labor contracts
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Machinists' union the lone holdout
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Midfield Terminal a white elephant?
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Bank pledges to oppose Swissair suit
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Low-cost airlines gear up for expansion
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UAL Pilot Pension Deal Could Prompt Expensive Trend
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US Airways Wraps Up Case To Reject Union Pacts, Benefits
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Law:

An eagerness to settle civil cases results in far fewer trials than just 20 years ago
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Women Attorneys Object to Mediation Firm's Swimsuit Calendar
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Law firms offer incentives in bids to attract startups
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Lovells institutes major partner redundancy program
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Senator Seeks Legislation on Ethics for Judicial Trips
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Make 2005 the Year You Start Your Own Firm
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Adorno & Yoss Agrees to Acquire New Jersey Litigation Firm
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Teaching Lawyers to Be Managers
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Testa seeks merger as resumes fly
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Firm Loses Fight on Withholding Associates' Taxes
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Associate Clobbered on "Apprentice" Finale
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Corporate Reform:

Fannie Mae Directors Make No Announcement on Raines, Howard
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SEC Rethinks Sarbox and Small Companies
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New SEC Proposal on Market Reform
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Scrushy's successor at HealthSouth tries to pick up pieces
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Grasso lawyers dig in, push trial back to '06
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SEC Considers Charges Against MetLife Unit
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SEC Employee Under Justice Dept. Probe
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SEC Chairman William Donaldson has quietly made it known to the White House that he would like to remain the nation's top securities cop
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Steel:

Stelco close on completing restructuring but future still murky
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Enron:

Defense criticizes mandate of Enron Task Force
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Enron prosecutors say merit outweighs hardship
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Was November the month in which the housing boom started to go bust?
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Trump's too rich to cover his losses
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Olive processor bankrupt
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Kmart may fade away
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Home is where the heart was
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Don't fall in the credit repair trap
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Sacramento: Azteca files for Chap. 11: Construction company does public projects
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Johnson earns credit for paying outstanding bills
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Clifford Chance Settles Brobeck Collapse Claims
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Yukos:

US ruling opens 'barrel of worms'
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Legal issues arise as Russian oil giant files for bankruptcy
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Unknown Russian Company Buys Yukos Unit
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A company so small that it did not seem to have an office bid successfully yesterday to buy the second- biggest oil production facility in Russia
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Auction of Russian oil asset is suspect, analysts say
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Curtain falls on final act of Yukos farce
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Yuganskneftegaz may be assigned to government
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Under-the-radar group's $9.3 billion bid wins Yukos
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Judge Upholds Order in Yukos Bankruptcy
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An auction that confirmed Russia's reputation as one of the world's most opaque business environments
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Mystery bidder snaps up main Yukos oil business - The sale will force Yukos to declare itself bankrupt in Russia within days
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Yukos Lawyer Plays Down Bankruptcy In Russia
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Yukos loses crown jewel, buyer "linked" to Gazprom
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Kremlin link likely in Yukos bid
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Yukos: Will Pursue All Options To Fight Asset Sale
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YUKOS faces breakup
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US Court To Resume Hearings Dec. 22
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YUKOS awaits Russia's next move
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Record Number Of Journalists Cover Yuganskneftegaz Auction
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Mystery bidder enters Russian oil giant's fray - Political intrigue, international legal maneuvers in battle for production sites
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Yukos executives have threatened to take more legal action
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Yukos tax prosecution seen as ploy
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CNPC meets with Gazprom, with Yukos probably under discussion
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Yukos town fears the lights will go out
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Gazprom appeals order in Yukos bankruptcy
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Tactics alarm workers at Yukos headquarters
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Putin Uses Power, and Loses Favor
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Accounting:

Darden Restaurants Restates Eight Years
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IRS Revises Standards for Tax Attorneys
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Recent Auditor Changes
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U.S. Drops Tax Lawsuit Against San Diego Firm
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Christmas truce calms auditors and investors
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Retailing:

Retailers See Little Late Holiday Buying
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When they shop, they can't stop
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Lenders Feel the Sting of Substantive Consolidation
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Lawyer works for justice against predatory lenders
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Pixius Communications files Chapter 11
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Low pay, few benefits and inadequate raises have many workers scrambling to keep up
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Could bin Laden bankrupt America?
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White House Sharply Lowers Job-Growth Forecasts
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Internet lenders combine high fees with anonymity
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'Spawn' Publisher in Bankruptcy Court
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Mirant wins power-purchase ruling
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The world's tallest building and a Renaissance that wasn't
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Uncharitable?
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Former NHL player, wife ordered to turn over portfolio, insurance policy
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El Conejo proposes sale to Mexican partner: Bus company files for bankruptcy protection for second time in two years
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Hoover placed in second-worst inmate class
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A Landlord's Worst Nightmare
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Utah bankruptcy rate is 3rd highest in U.S.
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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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Chiofaro does deal to keep towers
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Bankruptcy and Insolvency Laws Could Drive Venture Capital Markets -- Academics at Cambridge University have established a link between changes to legal and tax conditions and demand for venture capital from entrepreneurs
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Dealing With Potential Bankruptcy of a Licensor
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Asbestos:

Leading asbestos litigator cuts back
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Back to the Drawing Board for Asbestos Pre-Packs? The Third Circuit's Recent Opinion in Combustion Engineering
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Hardie close to deal for victims
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Hardie denies deal on asbestos
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Bankruptcy Examiners on the Rise
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Port Chester hospital tells employees it is filing for bankruptcy, shutting down
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Community Reels Over Plan to Close Its Only Hospital
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Town of Millport files for bankruptcy
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Subprime loan market grows despite troubles
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Trico Marine Services Announces Nasdaq Delisting
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Cash Collateral Usage Not Conditioned on Benefit to Secured Creditor
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Money crisis halts Tacoma troupe's show
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Weak dollar threatening global equilibrium
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Pippen's former money man facing full-court press
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Bankruptcy Courts May Authorize Rejection of FERC-Regulated Contracts
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Court approves Avista purchase of Coyote Springs half interest
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Peoples Bank ready to settle
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When Career's Over, Politicians Spared Usual Retirees' Worries
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UK:

The15m Bankrupt
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'Agreement Reached' over Mytravel Rescue Deal
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MyTravel agrees rescue deal with bondholders
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MyTravel bondholders drop legal challenge
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Kerry raps BoE over BCCI affair
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Jarvis to secure 20m lifeline but must find further 200m
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Canada:

Lawsuit spawns bankruptcy bid
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Genoil Announces Agreement To Eliminate All Secured Debt
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Japan:

Daiei Founder's Share Sale Will Close Era for Japanese Retailer
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Singapore:

Chinese govt supports CAO debt restructuring plan
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CAO shares could remain suspended for up to 7 months
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Singapore Bankruptcies Rise To Record High In Nov
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Korea:

LG Card Bailout Teeters on Tight Rope
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LG Grp Says Difficult To Join Fincl Aid For LG Card
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Merrill Lynch Plans to Buy $400 Million of LG Card's Securities
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Korea's SK Life near sale to Metlife for $283 mln
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Australia:

Probe into Elliott company
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Even Elliott is under law
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Italy:

Commissioner Takes Spotlight on Parmalat
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Parmalat Owes Almost $26B to Creditors
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Mexico:

Pemex is a sickly giant
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