February 9, 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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Bankruptcy Reform:

Bankruptcy reform passes House, slowed in Senate
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Bankruptcy bill has atrocious timing and taste
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Law:

Akin Gump Settles Suit With Dot-Com Investors
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Piper Rudnick mulls U.K. merger
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Growth spurs changes to firms' management structure
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Law firms take team approach to strengthen client relationships
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Dead Brobeck snares $15M for creditors
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Firms Boost Salaries for Associates
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Raid on NY Firm Launches New Satellite, New Practice
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Firm finds gold in heaps of debt
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Tower Turns to Ch. 11 Court to Complete Restructuring
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Section 304 in vogue
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Funeral industry buried in debt
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Corporate Reform:

Corporate scandals have boosted the pressure on offshore havens to open their books. Some have done so — but the global crackdown has a long way to go
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Stewart lawyers to cross-examine Faneuil
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How corporate scandals recur year after year
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Kozlowski's Defense: Spending
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NYSE to Slash Executives' Salaries
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The Martha Trial's Workplace Primer
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Sarbanes-Oxley Is Business Disaster
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New store card might do a number on your score
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Let The Buyer Beware When Choosing Credit Counseling
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Fraud aside, capital gains tax not probable
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Cleanups wait as companies debate liability in Solutia bankruptcy
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HomeGold:

HomeGold hopes to recover money through lawsuit
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Why legal fees are big for bankrupt company
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Sure, you can give up the latte, but if you're in real hot water?
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New owner dismisses Horsehead CEO, president
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Adelphia Commun Shareholders Object To $8 Bln Exit Loan
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Seitel Announces Bankruptcy Court Approval of Disclosure Statement; Record Date Set for Voting on Reorganization Plan
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Garden Ridge wilts under lease pressure, files Chapter 11: Craft retailer to close four stores, blames bankruptcy on unfavorable lease conditions across-the-board
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Penn, Hyatt bids for bankrupt casino license face dicey future
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Ormet gets $142M interim DIP
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U.S. Consumer Debt Rose by $6.6 Billion in December, Three Times November
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Judge seeks detail on Mirage bid
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Schwarzenegger in debt showdown -- State like company in bankruptcy with new CEO
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  Tower Records files Chapter 11
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Airlines:

Low-cost carriers unlikely to take flight
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United puts its hopes in new low-fare carrier
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Unpredictable Skies Still Loom for Airlines
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US Airways braces for union backlash over wage-cut plan
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US Airways Posts Loss, Says Behind Plan
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US Airways Circling the Wagons
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US Airways back to its unions for help
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Airline-backed airport bonds not doable
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Trinity's pension plan for Air Canada faces hurdle
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Unions reject pension proposal
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Airline gets judge's OK to tap funds to keep it in the air
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Airline bankruptcy clouds future of MidAmerica Airport
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Former American Airlines chief reviled by staff, lauded by investors
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Hawaiian plan calls for $67 million in cuts: Trustee, observers point to Boeing airplane leases as target for renegotiation
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SPEs Don't Kill Companies, People Do
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Telecoms:

Allegiance Workers Win $6 Million Vs. Merrill on Options
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Is Global Crossing In Less Risky Waters?
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WilTel Investors' Post-Bankruptcy Suit Moves through Court in Tulsa, Okla.
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XO to Pursue Dallas Firm
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Steel:

Steelworkers urge caution with Slater purchaser
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Georgetown Steel pay plan to stay secret
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Bayou asked to provide more proof
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Manager says Tyson targets May or June
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Cash Money Kids
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Bankruptcy's 'free and clear' assets may include unwanted luggage
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Interstate bus carrier's parent to return to NYSE
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Rising debt draws millions to refuge of bankruptcy
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Workers reject Fannie May severance offer -- want to file proofs of claim instead
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Ranchers face selling off land to meet bills as mad cow crisis drags on
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Law firm may be on verge of bankruptcy
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PE firms likely bidders for Vendex
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Credit Repair Schemes Can Lead to Fines, Prison
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Judge liens on Guccione
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Andujar convicted on tax, bankruptcy fraud charges
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E&Y predicts fraud increase after interest rate rise
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Consumer Alert, Check Carefully Before Applying for Offers in Compromise

Retailers face the music
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Buildup of Cash Isn't Swaying Hiring
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New Bankruptcy Opinions
(No new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Asbestos:

Asbestos Injury Payouts Reach $70 Billion
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Armstrong challenges asbestos arbitration ruling
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Asbestos exposé rips apart a deadly cover-up
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Seventh Circuit Permits Debtor Landlord to Sell Property Free and Clear of Tenant's Lease
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FTI Revises Earnings Guidance for 2004
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Chapter 11 attorney rates had to be commensurate

Rebound from credit crisis
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What landlord can do when tenant closes firm
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UK:

Bankruptcy rates at 10-year high
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Credit binge is blamed for bankruptcy rise
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Numbers going bankrupt `only the tip of the iceberg'
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Credit binge is blamed for bankruptcy rise
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Man Utd lawyer denies conflict allegations
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Bankruptcy dodge can haunt students
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Leeds shares rise on Ugandan bid report
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Directors bankrupt risk alert
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Eurotunnel Seeks Debt Reduction Following 2003 Loss
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Indebted householders living on borrowed time
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US pension warning for UK
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Canada:

Monitor neutral on New Skeena options
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Plenty to choose from, but is anyone ready to buy troubled B.C. pulp mills?"
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Italy:

Parmalat bondholders may vote on plan
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Additional Parmalat Stories

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Australia:

Australia's laziest companies
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Argentina:

Kirchner plays hardball with global lenders
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Argentina Should Engage With Creditors, G-7 Says
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US judge freezes Argentine assets in debt case
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Greece:

Greek court extends deadline for Royal Olympia
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Netherlands:

Case Vs KPNQwest Trustees To Open Files Is Withdrawn
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Korea:

LG Card creditors to press on with rescue
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