January 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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Using Bankruptcy Filings to Resolve Disputed Liabilities
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Airlines:

US Airways considers selling assets
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American Airlines May Bid for US Airways Shuttle
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Air Canada set to ask court to approve Trinity deal
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Creditors want Air Canada court hearing delayed
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Unions slam US Airways sell-off plan
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Union files suit to block job cuts
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US Airways Chairman Warns of Risk of Default
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Airline bankruptcy is bonanza for lawyers
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Judge to slash Fleming legal fees
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A state epidemic of bankruptcy
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Malden Mills' ex-CEO gets financial boost from key lender
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Ex-Im Bank Approves Increased Preliminary Commitment For Loan Guarantee for Malden Mills Industries, Inc.
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Georgia Insurance Commission Probes Columbus, Ga., 'Payday' Loan Chain
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Corporate Reform:

Dean Broadcasts Corporate Corruption Ad
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Lawyers ask what's cooking with Martha
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Stewart Trial Features Powerhouse Lawyers
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Authorities get report on Grasso's pay
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Global economy at risk by U.S. deficit
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Holidays turn out pretty happy for retailers
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Steel:

Akron judge assigned WCI bankruptcy
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Slater Steel seeks court OK for delay in liquidating Ontario-Quebec assets
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Slater Steel seeks extension of court protection
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Union calls for new talks to save Slater's Atlas Steels mill in Tracy, Que.
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Weirton Steel's Problems Compounded By Coke Shortage
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Connecticut Firm that Monitors Clients with Heart Problems Appears to Close
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Accounting:

Ernst & Young Sued in Medicare Billing Case
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JA Jones Gets OK Of Rules Covering Auction Of Real Estate
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Judge Clears Way For Surgeon Bay's Palmer Johnson To Emerge From Bankruptcy
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EMCC Buys Finova Unit
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Investors Sue Former HealthSouth Accountants, Bankers
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Convicted Rapist Claims He Is Broke, Seeks Bankruptcy
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A Novo wins confirmation
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  Enron:

Enron's Lea Fastow Faces Deadline for Guilty Plea
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Deal made in Enron case
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Judge Promises Quick Decision On Lea Fastow Deal
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From the Fastows to the Bigger Fish?
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Lea Fastow faces deadline on Enron plea to skip trial
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Judge Balks at Enron Plea Deal
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Fastow nears plea deal in Enron scheme
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Big decision by noon today for Lea Fastow
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Plea deal could lead to cases against Enron's top 2
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Big financial firms, including Enron, become Bush’s top donors
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Enron gets deadline extension for exit plan
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Law:

Bonuses Pocketed, Lawyers Are Hunting for Jobs
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US litigation chief quits Clifford Chance
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DC Firms Announce Bonus Bonanza
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Law firm to sponsor several NASCAR teams
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Bay Area's Top Ten (Mostly) Saw Revenues Rise in 2003
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Firm Leader Dies at NY Warnaco Meeting
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Bonuses Announced for More NY Associates
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Telecoms:

Level 3 wants Allegiance deal put on hold
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MCI to Cut DIP Credit Facility After Building Up Cash
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UBS Bank Is Dismissed From WorldCom Lawsuits
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Two upbeat days for MCI
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Energy:

PG&E payouts under fire
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Calif Utils To Pay State Dept $4.5B;SoCalEd To Hike Rates
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Cutting debt is this year's top resolution
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Rigases Seek More Time To File Adelphia Claims
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County Commission to litigate Shawnee Hills bankruptcy
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Debts strand luxury cruise liner Olympia
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Solutia Final Debtor-in-Possession Hearing Scheduled for Jan. 16, 2004
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Solutia Has Interest From Financial Parties On DIP Financing
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Credit Rating Downgraded at Westchester Hospital
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Card delinquencies a sign of growing stress?
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New Bankruptcy Opinions
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Asbestos:

ABB asbestos hearing delayed again, new date soon
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ABB: US Court Hearing Regarding Asbestos Postponed Again
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ABB says asbestos delay has no impact on OGP sale
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Armstrong Hldgs says shareholders OK dissolution
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Richmond, Ca. on the Brink of Bankruptcy
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HomeGold remnants go to highest bidders
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Financial Reports Show Tyson’s Earnings Dwindling
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Recent Developments in Bankruptcy Tax
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'Ponzi' Scheme Case Widens in Monterey County, Calif.
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Check court for options in store bankruptcies
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Troubled Chicago Hospital Misses $3 Million Bond Payment
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Buying shares in a bankrupt company "is extremely risky and is likely to lead to financial loss,"
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UK:

Historian says debt has shaped culture
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From savers to debtors in a generation
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Italy:

Parmalat Cost U.S. Firms $2b
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Additional Parmalat Stories

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Canada:

Bankruptcies rising, except in B.C.
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China:

Millions to Be Laid-off as SOEs Streamline
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Korea:

'Disaster' risk at Korean lender
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LG Card's Creditors Agree to a $4.23 Billion Bailout
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Creditors Agree to Main Details of LG Card Bailout Plan
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Crisis at LG Card deepens as rescue talks drag on
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S Korean Court Approves Thrunet'S Self-Rescue Plan
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Australia:

Australian Bankruptcies Decline 7.2% In 4Q Vs 3Q
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Jacobsen out of administration
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Australian bankruptcies down
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Switzerland:

Bank Julius Bdr sued for $40 million
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