February 26, 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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Adelphia:

Adelphia gets $9B exit loan
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Adelphia CEO: Hope To Emerge From Ch 11 By End Of 2004
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Adelphia Equity Hldrs To Pursue Own Ch 11 Plan
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Suitors For Adelphia Line Up As Trial Begins
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Statement from the Adelphia Equity Committee Regarding the Reorganization Plan Filed by Adelphia in the United States Bankruptcy Court
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Energy:

Cutting the Power Supply: FERC vs. Bankruptcy Courts
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Enron:

ChevronTexaco Taking Over Former Enron Skyscraper
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ChevronTexaco to buy tarnished Enron trophy
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Telecoms:

Supra seeks investors
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Steel:

Stelco lost $17M in December and January, not including writedowns
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U.S. Steel Cuts Its Retiree Obligations
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Stelco faced 'liquidity crisis'
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Stelco assets worth only half
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Airlines:

Travel industry outsourcing more customer service work
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US Airways CEO Says Low-Cost Rivals Forcing Need for Still More Cuts
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Asbestos:

Trial lawyers criticize insurance exec for 'terrorist' jab
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Malden Mills legal, other bills at $21m
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FTI Consulting Names Dominic DiNapoli Chief Operating Officer
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Cone Mills buy seen in the clear
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Barry Fey creditors push for liquidation
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Bankrupt casino license will end up in a north suburb
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Former Just For Feet Exec Agrees To Plead Guilty
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Credit Card Crack
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Quarles & Brady Faces Suit By Receiver In Florida Scam
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Fannie May 'would be a flagship brand'
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Laura Secord hires executives to sweeten business
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DIP dimensions: Ormet Corp.
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Oglebay Norton To Delist From NASDAQ
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Court Approves First Day Motions for Oglebay Norton Co., Including Interim Approval to Borrow up to $40 Million from New DIP Facility
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Conseco departures hint at shake-up
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Letter from Delaware -- Fleming fees hearing postponed, Malden Mills gets a warning, HomeGold sifts through files
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Confidence falls amid job market distress
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Bankruptcy trustee seeks hidden assets
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Denied financing, Leatherland to close
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  Law:

Banks and lawyers agree higher bills for corporates
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Paris bar head provokes firm fury
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Salaried status probed in Clifford Chance profits review
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Kaye Scholer hits $1m mark
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Ex-attorney sentenced in theft from law firm
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Growth spurt puts Fulbright ahead of Texas rival Vinson
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On the Road Again -- The latest gadgets and guides for the traveling lawyer
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Florida’s Akerman in Muller merger
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Weil Gotshal continues to close in on New York elite
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Mergers boost Reed Smith revenues by 40%
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Class action reforms set to win nod from Senate
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A Tale of Two Buildings -- what one firm considered when they relocated to a new flagship facility
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With the help of the internet, lawyers compete for business
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Quantifying offshore law firm outsourcing risks
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Check out the URLs on that!
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The rapidly changing market for cross-jurisdictional professional services
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Constructing Cravath
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The house that Weiss built
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A bite of the big apple
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Success and the City
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Gadzooks Announces Final Approval of DIP Financing
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U.S. restructuring firm sees prospects in Europe
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Corporate Reform:

Stewart defense gambles by calling one witness
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The Stewart Case's $60 Question
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Prosecutors Focus on Kozlowski's Spending
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SEC takes aim at market timing
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NYSE fines Morgan and Deutsche Bank
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Ex-Tyco CFO Testifies About Payments
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Swartz: ''No New (York) Taxes''
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SEC Extends Sarbanes-Oxley Section 404 Compliance Dates

Small Firms Getting Big Slice of Sarbanes-Oxley Pie

Eliot Spitzer isn't done with mutual funds -- or with the rest of the financial-services industry
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Metal fabricator declares bankruptcy
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Waiting for the Other Record to Drop
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RBX Corp. again files bankruptcy
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Trial date set in Shelby Yarn workers' lawsuit
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NHL Players and Owners Set to Face Off in Labor War
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Fort Worth building's former owner back in bankruptcy
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American Plumbing & Mechanical, Inc. Files Reorganization Plan and Disclosure Statement
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Paper Warehouse Files Plan of Liquidation in Chapter11 Case
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New Bankruptcy Opinions
(3 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Senate Banking Chair: GSE Bill To Set Insolvency Process
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Future of paper mills at stake in bankruptcy hearing
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2 mills avoid abandonment as bankruptcy court OKs sale
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Accounting:

Tip-Offs That Earnings May Be Inflated
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EU-US making progress in audit spat
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Fannie Mae relies on 70 manual accounting systems that could lead to problems like last year's $1.1 billion error, regulators said
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US-listed companies shy away from Big Four
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PCAOB to Consider Adopting Standard for Audits of Internal Control Over Financial Reporting

PCAOB Chair Warns of CEO Pay Controls

Advisory Group Urges Support for Auditors
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Judge Says Tax Shelter Suit Has to Go to Arbitration
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'Affordable' in Housing Market Is Far From It for Many Buyers
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Bankruptcy filings for 2003 linger in record territory
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UK:

Tax talk deadlock puts UK law firm profits under threat
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Surveys points to boom time
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Administration becomes less attractive, as Enterprise Act changes mean creditors may lose out
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Canada:

Bankruptcy ends landfill dispute
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CBA to fight law firm float plans
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Italy:

A pan-European bankruptcy for Parmalat is a recipe for chaos
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Police arrest former Parmatour chairman
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Parmalat's Overseer Loses Bid To Control Liquidation of Units
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Parmalat unit bankruptcy not expected to cause problems in NY
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Bank of Italy chief in fraud inquiry
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Police Search Italian Clubs in Fraud Probe
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Bethia Awaits Approval for Stake in Parmalat Chile
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Parmalat Investigations Continue in Milan
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Morgan Stanley handled Parmalat bonds, transactions
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Argentina:

Argentina creditors don't want to see country's suffering
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Argentina Creditors Say Government Lacks 'Good Faith'
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Japan:

Goldman, Lone Star Bid for Golf Company Taiyoryokka
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Iraq:

Debt levels 'cannot be sustained'
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