February 6, 2004 

Tower Records to Seek Chapter 11 -Sources
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Megastore pioneer Tower Records reported considering bankruptcy
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Change Reportedly Coming to Tower Records
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Asbestos:

Clashing Interests of Insurers, Defendants Feed Elusive Nature of Asbestos Settlements
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Lloyd's Chairman Warns Of Threats To Industry Despite Strong Showing In 2003, Cites Asbestos
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FDA OKs Lilly Drug for Asbestos-Related Cancer
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Enron:

Bankruptcy judge OKs sale of Portland utility by Enron
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Enron humble? Not a Gramm
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US regulators to set rules blocking Enron-like deals
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Legal Criteria Published on Withholding Tax Issues in Structured Finance Transactions
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Corporate Reform:

US Firms Face Another Hostile Clash with Investors
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Fed's Bies-Corporate scandals not thing of the past
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Demand increases for corporate sleuths
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Defense to go after Faneuil again
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Stewart Trial Witness Faces Close Questions
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Future of Corporate Reporting: How Are Companies Planning to Respond to New SOA Reporting?
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Star witness tells of tirades by Stewart
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Witness says Stewart dumped stock after tip
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Pioneering mutual fund firm caught up in market scandal
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The SEC Wrist-Slaps Another Fund
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Judge starts liquidation of mill assets
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State ownership of bankrupt casino looks dicey
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Penn Natl bids most for casino license - Ill. board
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Gaming Board unveils 7 Emerald casino proposals
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Fine Print Changes Picture in Bankrupt Illinois Casino Ownership Offer
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Candidate faces felony warrant for "hindering secured creditor"
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Tower Records Parent to File Chapter 11
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Guccione may be Gucci-gone
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South Carolina's biggest money scandal hits home
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Seitel begins soliciting for plan
(The Deal: separate paid registration required)

Aurora Foods Modifies First Amended Joint Reorganization Plan
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Check Carefully Before Applying for Offers in Compromise
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Royal Olympia Cruise Says Olympia Countess Sold At Auction
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Airlines:

Air Canada owner floats pension changes
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Air Canada's new investor Trinity gets rough ride after urging pension change
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Air Canada Provides Update On Restructuring
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Bankruptcy Reform:

Stop this bad bill
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Yale Law Students Watch Professor Take On U.S. Supremes In Bankruptcy Case
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S&P Global Bond Markets' Weakest Links & Monthly Default Rates
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Law:

Gardner Carton & Douglas LLP Announces New Chairman - Head of Restructuring Practice
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Dewey Ballantine Makes Commitment to Sensitivity Training
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Wife pleads guilty to taking money from husband's law firm for spa
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Deconstructing Pennie & Edmonds' Demise
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Lawyers finding it tougher down under
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AmLaw 100 Firm Tries to Shake Off Regional Label
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State disbars lawyer behind bar exam leakage
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Aftermath of Large Jury Verdicts Shows Much Smaller Victories
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Study of Atlanta Law Firms Finds Flexible Work Schedules Profitable, More Written Part-time Policies Needed
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Steel:

Stelco responds to union doubts about insolvency
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Stelco defends move into bankruptcy-court protection, execs' pension plan
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AK Steel May Seek Bankruptcy, Union Chief Says
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Judge Lets WCI Steel Borrow $15 Million from New York-Based Parent
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Judge: Georgetown Steel pay plan can stay secret
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Preferences, Reclamation and PACA in One Case: A Three-Ring Circus",
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Fannie Mae to reject lenders that use forced arbitration
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Polymer won't pursue plan to trim debt load
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Archibald Candy: Union to vote on severance package
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Former Credit Lyonnais Director to Plead Guilty
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Metropolitan bankruptcy filing riles investors
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Adelphia Equity Group Demands Own Restructure Plan
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Adelphia holders want auction
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Wilsons Leather Shares Fall Amid Credit-Waiver Request
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Slipper Maker Reports Bank Loan Violation, liquidity Concerns
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Metropolitan seeks $25M DIP
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Bankrupt Connecticut Manufacturer Wins More Time to File Reorganization Plan
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New Bankruptcy Opinions
(5 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Accounting:

KPMG Resigns as Lancer Auditor
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Insurer Friends Provident switches to auditor KPMG
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"Current Liability" Rules Could Change Under FASB

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Gadzooks January same-store sales fall
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Acquiring Insolvent European Companies
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UK:

Court test for football creditor rule
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UK consumer bankruptcies surge to 11-year high
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Bankruptcy rises as consumer debt soars
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British Energy warnings 'ignored'
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Battle over Canary Wharf may turn into war
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Leeds hope to appease creditors and focus on survival
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Canada:

Doman Industries Limited -- term sheet outlining their proposed plan to restructure
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Doman family to lose stake in company
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France:

French Rescue Plans Limit Creditors’ Role
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Italy:

Range of Options Available to Distressed Italian Companies
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Additional Parmalat Stories

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Spain:

Dated Spanish Insolvency Law Is About to Change
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Argentina:

IMF Should Press Argentina on Bond Settlement
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Germany:

German Insolvency Code Shows Chapter 11 Influence
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Fagan sues UBS
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South Africa:

Court hands Macmed chiefs a R647m bill
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Korea:

LG Card loses one of its saviors
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Creditors to proceed with LG Card rescue
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Creditors may exclude foreign banks from LG Card bailout
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Netherlands:

Hurdles, Flexibility Are Common in Dutch Insolvency Sales
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