February 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

Prior editions available at http://bkinformation.com/bankruptcy_news.htm
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Iron Mike - barely nickel to his name
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Airlines:

United Airlines Seeks Plan Filing Extension
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Moody's withdraws ratings on United Airlines, UAL
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United says flight attendants aware on benefits
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Creditor Seeks Probe of UAL, Says Consolidation Improper
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Ted facing labor problems before it even takes off
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US Airways Chairman Contemplates Options for Troubled Airline's Future
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Death no longer a sure thing
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Tower Records:

Pledge to keep music going at crumbling Tower Records
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Tower Records Files For Bankruptcy
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Tower Records hits a financial sour note / Pioneer music retailer files for Chapter 11
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Music's Malaise Spreads: Tower Records Hits Bottom
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Tower Files 'Fast Track' Plan To Conclude Fincl Restructuring With Overwhelming Creditor And Shareholder Support
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Law:

Dewey Ballantine Launches New Firm Web Site
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Lawyers in Search of Fewer Hours
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Shifting Clifford Chance bank borrowings right back to the partners
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Citigroup executive returns to O’Melveny fold
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Demographic Analysis: Foreshadowing the Future of Your Firm
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Clifford Chance US departure tally grows with Cadwalader hire
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Should Law Firms Appoint Outside Directors?
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Parmalat advisers jostle for legal fees as wind-up hits snag
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Cadwalader relocates NY partner for UK CDO push
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NCL in payment tussle
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NCL's shipyard says it's bankrupt
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Corporate Reform:

Tyco figure unlikely to testify in ex-chairman's trial
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Stewart's Lawyer Cross-Examines Star Witness
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Douglas Faneuil, the government's star witness, conceded that he once attributed words to Martha Stewart that were actually his.
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Stewart Defense May Call Faneuil Lawyer
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Finova pays off $5.6B Berkadia loan
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  Enron:

Judge says examiner not a library
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Peoples-Enron gas contract draws inquiry
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Defense Attorneys Seeking Enron Material
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Enron ''On the Hook'' for Pension Losses
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Energy:

Judge OKs bonuses for NorthWestern employees
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Steel:

Northeast Indiana foundry seeks Chapter 11 protection
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U.S. vulture fund sells about half its Stelco shares
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Mothballed mill roars back to life
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City losing cash on Stelco bankruptcy
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Weirton Steel write-off may hurt W.Va.
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Accounting:

SEC Probing Flowserve Restatements
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Tougher accountability rules are hitting bottom lines
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Big Four client 'cull' may be selective
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FASB Gets Tough on ''Current Liability''
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HomeGold lawsuit net gets bigger
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U.S. debt recovery rates flat in 2003-S&P
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French executive pays $250,000, is banned from U.S. as part of Executive Life guilty plea
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One Price Clothing Stores Announces Chapter 11 Filing
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One Price Clothing files for Chapter 11
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McClellan Health System files for bankruptcy
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Media chain acquires Radio Unica
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Insurance commissioner suing Virginia insurance company on behalf of three failed malpractice insurance firms
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Fundraiser Tonken Files for Chapter 7 Protection
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Carolina Textile Industry to Collapse Without Import Quotas
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Banker in Hawaii may face more prison time in bankruptcy fraud case
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Fed pension insurer will pay Piccadilly benefits
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$5-million deal ousts desal builder
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Pension Funds Run Dry
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Kroll Expands Valuation Capabilities with New Hires in New York
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Crew Stranded On Cruise Ship Finally Allowed To Go Home
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Debt management better than bankruptcy
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Toy Stores Fight Extinction
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New Bankruptcy Opinions
(1 new opinion today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Met Mortgage:

Highflier crashes on Met Mortgage scandal
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Spokane scion's empire crumbles as company files for bankruptcy protection
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SEC Calls for Fraud Investigation of Met Mortgage
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SEC Seeks Examiner To Probe For Fraud In Chapter 11 Case
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ClearOne sues insurers in dispute over D&O claims
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Payday Lending: Serving the Unbanked
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E&O: Agents & Brokers: Unsafe In Any Market
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Hearing to approve sale of bankrupt Cone Mills to continue
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UK:

Viatel emerges from bankruptcy protection with new funding
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Travel firm hit by soccer crisis
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Eurotunnel warns it may face bankruptcy
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Additional Eurotunnel Stories

Leeds have the players to stay up. It is the spirit that is lacking
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Record numbers of graduates are declaring themselves bankrupt as the cost of a university education soars. But it's a decision that should not be taken lightly
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Current Distressed Companies Update
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Dramatic rise in bankruptcies signals trouble
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Uganda tycoon says Leeds bid delayed by board row
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Going down?
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Ireland Plans to Tackle European Consumer Debt
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Italy:

Five foreign, 2 Italy banks probed on Parmalat
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Additional Parmalat Stories

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Canada:

B.C. towns oppose more protection for New Skeena
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Korea:

Foreign shareholders assail SK Corp board
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Argentina:

IMF calls meeting with Argentina "useful"
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Israel:

Capitalism on the Kibbutz
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