January 28, 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

         
Airlines:

United reports loss, cites major 'progress'
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UAL cuts loss in 4th quarter with increase in sales, drop in costs
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Pension bill moves toward Senate vote
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Employers could save billions with pension relief bill before Senate
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Flying Finn struggles to avoid bankruptcy
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Flying Finn Halts Flights, Files For Bankruptcy
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Flying Finn continues restructuring and does not file bankruptcy petition
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Four airlines bid for US Airways assets
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Offers Are Said to Flow In for Assets of US Airways
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Bankrupt Airline Great Plains Hopes to Fly Again in March
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Deal reached with Loral on new weather satellite
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Telecoms:

New Issues Raised Over Independence of Auditor for MCI
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SBC profits off 62 percent during fourth quarter
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Examiner finds no evidence Ebbers committed fraud
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Sullivan judge rules jury can hear of stock options
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Underwriters Sue Former Global Crossing Officials
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Banks Going After Global Crossing Execs
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Accounting:

Tax Turf War
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Limit to Ex-Tyco Auditor Testimony Sought
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WorldCom May Owe Millions in State Taxes; Thank You KPMG
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Big Four Firms Lose Public Company Audit Clients

Shake-up at top of 'tax-dodging' KPMG: But move may not satisfy US lawmakers concerned about a 'culture of deception'
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Does Incentive Compensation And Stock Ownership Affect Internal Auditor Objectivity?
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Tyco Planning to Change Auditors, Out With PwC

Spotlight on auditors after Parmalat fiasco
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BridgeSpan Files for Reorganization Protection
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Spiegel Says It Has $211M In Cash; Hasn't Used DIP
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Are Debt-Consolidation Loans a Good Idea?
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Former Carolina Investors chairman seeks help with bail
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Big Dog Holdings, Inc. to Acquire The Walking Company
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Frisby Technologies, Inc. Announces Litigation Outcome
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Penthouse Magazine's Publisher Begins Soliciting Acceptances of Plan
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Berry processor fears bankruptcy
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EDS to cut more jobs, reduce costs 25 pct in 3 yrs
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Kentucky Hospital Files for Bankruptcy
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NYSE and Nasdaq Corporate Governance Listing Standards
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Green Tree Plans to Resume Making Mobile-Home Loans
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  Energy:

Calif. Lawmakers To Consider Key Part Of PGE Plan
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Perryville Energy Partners Files Chapter 11
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Enron:

Enron's Indian banks bid for Dabhol debt
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Carlyle, Riverstone grab Mariner
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Court to defer on charges until Lea Fastow sentencing
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CART:

Courtroom is finish line for open wheel racing's future
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Philosophies to clash as judge hears CART case
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Bankruptcy case created bidding war
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Asbestos:

Tort Claims Climb Driven By Asbestos Liabilities
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Asbestos makerís reorganization unfair
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Asbestos reform "high priority" on list of unfinished business
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W.R. Grace post wider fourth-quarter loss
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Owens-Illinois loss weighed by asbestos, restructuring charges
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Corporate Reform:

Martha Stewart's Lawyer Blasts Government as Overzealous
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Meet Martha, the Martyr
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Prosecutor says Stewart a liar
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Trader Testifies About Being Beaten With A Brick at Mutual Fund Hearing

Sarbox Sanctions for Execs, Companies
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Adelphia seeks OK for $8 billion loan
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Adelphia Sees Net Operating Loss Widen
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For rent signs sprout for offices
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Has your life become too much of a chance?
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Aladdin bosses pleased despite $4.1 million loss
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New Book Co-Authored by Weil, Gotshal & Manges Lawyer Offers Leading Edge Strategies for Creditors and Lessors in Bankruptcy Proceedings
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Solutia:

Bankrupt chemical maker Solutia is cast in the role of ungrateful child
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Monsanto, Pharmacia Asks Court To Deny Solutia Request
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Digging Out of Debt; CCCS Offers Tips on Paying Off Overwhelming Credit Card Debt
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GMAC Mortgage Corp. Restructures Rapidly Growing Default Unit
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Bankruptcy may not end Texas landfill fight
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Master P and bankruptcy in the same sentence?
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Ingersoll braces for divestiture battle
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Credit Counselors Seeing Rising Tide of Payday Loan Patrons
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New Bankruptcy Opinions
(3 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Law:

Going In-House: Is It Better on Balance?
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Is working at a Biglaw firm a 15-hour-a-day, every day job, or is it more like 12 hours every weekday?
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Two National Firms Name New Leaders in NY
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Outside Overseers - Major law firms might well benefit from outside directors
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Five Partners Bolt Firm's Los Angeles Office
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Practice Team Defects To Launch Sunbelt Satellite
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Latham revenues rocket as market returns to health
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Lathams profits set scene for further US domination
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Dewey Partner's E-Mail Causes Upset Over Racial Insensitivity
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The Firm That Lawyered the Super Bowl
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Firm Braces for Turn As Defendant
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Akin Gump boosts restructuring
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Cadwalader, E&Y in showdown with Parmalatís administrator
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O Sole Mio: The Loneliness Of the Solo NY Lawyer
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UK:

Bankruptcy Fees To Rise
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People 'too poor' to go bankrupt
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A nation of debtors
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Bankrupts can make a comeback
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Deal on course in Leeds buy-out
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Additional Leeds Stories

Football: Tax Ruling Won't Halt Well Plan
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BoE hits back at BCCI liquidators
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Italy:

PwC flags up CSFB bond issue for Parmalat
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Additional Parmalat Stories

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Canada:

Canada Bank Is Said to Face Legal Action by Regulators
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Singapore:

Singapore bankruptcies at record high
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Thailand:

New TPI plan wins support But Prachai rules out capital write-down
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S. Africa:

Auditors 'turned blind eye' to Macmed cover-up
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Indonesia:

Indonesia's Legal Labyrinth Thwarts U.S. Bondholders
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China:

Banks helped to clear bad debts
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Poland:

New bankruptcy law in Poland
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