January 2, 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
Search prior headlines at http://bkinformation.com/PriorEditionsSearch.html

         
Asbestos:

Congoleum files prepackaged bankruptcy plan
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20 Largest - Creditor Matrix
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Congoleum asbestos claimants okay bankruptcy plan
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Asbestos Victims in Ohio Face New Obstacle under Proposed Legislation
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Judge Digs in Against His Recusal in Mass Bankruptcy Case
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Law:

O'Melveny & Myers Lawyers Named as Top Litigators
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Skadden Arps Ousts Linklaters as Top Mergers Law Firm in 2003
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The American Lawyer Names Law Firm O'Melveny & Myers Litigators of the Year
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Liquidators thrive amid economic recovery
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Corporate Reform:

Executives, businesses have a lot to resolve
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New year promises more drama in trials of corporate wrongdoing
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CEO pay is steady; directors do better
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Value of Tyco CEO's pay package surges to $172 mln
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Senate Bill Would Bar Deduction Of Punitive Damages
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Exide:

Judge denies confirmation of Exide reorganization plan
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Exide Technologies to Continue Negotiations with Creditors after Court Decision
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Judge Won't Back Exide Reorganization
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Enron:

Nevada regulators seek allies in battle with FERC
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Enron case spotlights role of bankruptcy examiner
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Telecoms:

Horizon PCS receives extension for Chapter 11 filing
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Magis Networks Gets Approval to Auction Its Assets Quickly
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Accounting:

S.F. firm's accounts in review
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IRS Simplifying Business Tax Audits

U.S. Acts to Ban Tax Shelters Using Roth I.R.A.
(NYT: separate free registration required)

Reins Tightened on Lawyers, Accountants, Other Tax Advisers

AICPA Exposes Two Proposed Statements on Standards for Accounting and Review Services

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Regional grocer's losses continue to grow
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Creditors for Former Denver Concert Promoter Want to Get Him Back to Court
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Officer to pay $900,000 in American Financial firm's failure
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Illinois court overturns Emerald Casino decision
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  Energy:

PG&E Execs to Get $83 Million
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PGE's Re-Emergence Signals Windfall for Executives
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NorthWestern: SEC subpoenas units in formal probe
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Airlines:

Air Canada Creditors May Propose Restructuring Plan
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Air Canada creditors mull plan
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Union chief: Furloughed pilots should get jobs back
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Air Canada CEO vows to resolve pension deficit
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Airways ends voluntary furlough program
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Steel:

Bethlehem Steel, once a titan of industry, dissolves
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Ruling Allows Bondholders to Sue Youngstown, Ohio-Based Steelmaker
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Steel pay plan secret till hearing
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Make Pay Plan Public
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Hawaii bankruptcies off 16% in 2003
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Economy:

Hiring will pick up in 2004
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S&P 500 Rally in 2003 Was Broadest in 23 Years
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Cone Mills creditors challenge shareholder panel
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Fleet's leap to the national stage
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Record number bankrupt in Colorado
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Alleged Ponzi Investment Firm Owner Won't Reveal Assets
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CART sale may go through by late January
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Bankruptcy Yr In Review: The Outlook For 2004
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HomeGold Asset sale set for Monday
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Hartford hotel shuts down without warning
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Hasty Departure For Hastings
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Bankruptcy at record level in Iowa
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Ex-Great Northern owner won't be paid post-bankruptcy fees
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CheckMate plans for quick exit
(The Deal: separate paid registration required)

Loan Troubles Slow Growth of Pewaukee, Wis.-Based CIB Marine Bancshares
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The 7 Most Common Errors Creditors Make in a Customer Bankruptcy
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Drowning In Debt, National Benevolent Fights To Stay Afloat
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Trouble ferments in paradise, but only tax cheats need worry
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California Doctor's Group Facing Bankruptcy
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Media Six files Chapter 11 bankruptcy petition
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Two sailings canceled by distressed cruise firm
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New Bankruptcy Opinions
(2 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Business liquidator sets up shop in Silicon Valley
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Boundless Sells Headquarters
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UK:

New Year insolvency warning
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BCCI back to haunt the Old Lady - More than a decade after the £7billion collapse, liquidators Deloitte & Touche are still fighting
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Repayment plan for Einstein creditors
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Canary flies lower as Reichmann struggles to secure bid funding
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Canada:

Canadian Bankruptcy is Distinctly Canadian Donít Be Fooled by Chapter 11 Similarities
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Italy:

Parmalat Questioning to Focus on Missing Cash
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Additional Parmalat Stories:

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Germany:

Kirch Seeks Damages From Deutsche Bank's Breuer
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Lull causes wave of bankruptcies
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Japan:

Funds unaccounted for in shady high-yield investment trust
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Haiti:

Haiti Pins Hopes for Future on Old Debt
(WSJ: separate paid subscription required)

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Korea:

LG Card Creditors May Swap Debt for Majority Stake
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Kookmin Bank: No Decision On LG Card Bailout Friday
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State-run SKorean bank to lead joint management of LG Card
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S Korean Financial Cos May Lose KRW26.7T If LG Card Fails
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S.Korea sees worst point past in LG Card crisis
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Argentina:

Argentina's New Dirty Trick on Its Creditors
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Mexico:

Savings protection to decrease
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Australia:

Winemaker loses home to debt
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Thailand:

Loan shark accounts to be checked High interest keeps folks poor
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