July 22, 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 function repaired: Search prior headlines at http://bkinformation.com/PriorEditionsSearch.html

         

Airlines:

Pilots offer pay cut plan, but Delta says more needed
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Delta Pilots Offer to Take 23% Wage Cut, Union Says
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Delta revises Boeing delivery schedule
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Delta Doomed, Yet Investors Board
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Labor, fuel costs a drag on N'West
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United snags $1B in loans, buys time to reorganize
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Airfares make descent as airline nears takeoff
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AMR Nets $6M Profit in 2Q; Shares Rise
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Mechanics concerned about United pension plan
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Asbestos:

Halliburton Announces Court Confirms Prepackaged Plan of Reorganization of its DII Industries and Kellogg Brown & Root Subsidiaries
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Grace Reports Second Quarter Financial Results
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Asbestos Exposure & Smoking
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Asbestos Victims Under Attack by Proposed Asbestos Legislation
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Robert S. Miller, Jr., is Named Interim CEO of Federal-Mogul
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Judge steps down from Madison County asbestos cases
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Doubts on Hardie asbestos payouts
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Law:

Freshfields conflict probe
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More Than Mere Child's Play
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Allen & Overy launches partner review
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Firm beats Weil Gotshal to trophy client
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Clifford Chance loses highly-rated funds team to A&O
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Lawyers fight to overturn Californian privilege rules
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Shearman introduces general counsel role
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Law firms beginning to embrace marketing as PR blitz beckons
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Chasm between new and senior associate pay widening again
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UK Gets New Conflicts Rules
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How law firms can best cope with the pressure on fees
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Firms offering to do work for little or nothing are generally viewed with suspicion by clients
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No Pay for Louima's First Attorneys, Misconduct Charge for One
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Law firm, client at odds over chartered jet expense
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Girl Scouts hire tough cookie
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Norristown heading for bankruptcy, faces deficit of $2 million, experts say
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Lawmakers warned about large firms' out-of-state bankruptcy filings
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Enron:

IRS tipped to Enron tax scheme in 1999
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Ore. panel suggests blocking Enron sale
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Oregon PUC Staff Urges 'No' On Texas Pacific Buying PGE
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Enron Plan May Be Blocked
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Steel:

Pension agency claim holds up Georgetown Steel payments to creditors
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Staggering giant Stelco to shutter its rod mill
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Telecoms:

Frustrated NorVergence Customers Scramble For Replacement Telecom Service
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Norvergence complaints pile up
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Lucent profits from demand for phone gear
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C&W admits to fall in revenues
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iPCS Exits Bankruptcy
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Corporate Reform:

Newsday widens probe
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A taste of things to come
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Accounting:

Final return: tax preparer H&R Block co-founder Richard Bloch dead at 78
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Sen. Fitzgerald Moves to Protect Stock Option Expensing Reform
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Salaries Increasing for Finance and Accounting Professionals

House Bars Export-Import Loans to Companies in Tax Havens

Ernst & Young Fined $1.5 Million
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Judge considering receivership for prison system
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Galey & Lord agrees to be sold to New York investment firm
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Sheriff's ad costs cited as a burden -- Foreclosure-related fees can be eased to aid homeowners, advocates assert
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Winery faces its creditors
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NexPak makes prepack
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Capitol One ends 1,100 Tampa jobs
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Dick Blick wins Art Store auction
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State questions Huffman Koos bankruptcy deal
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When to Turn Down "Help"
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Carolina Investors witness tells about losses
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GM profit jumps 49 percent, mainly from financial services
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New Bankruptcy Opinions
(1 new opinion today) 

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings
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Weird News
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Greenspan urges passage of some bankruptcy reforms
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Washington Park owes $1.6 million to more than 600 creditors
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Probe into whether some bankruptcy judges may be courting high-profile cases and publicity by allowing higher fees for the lawyers and bankruptcy professionals who handle them and by overlooking potential conflicts of interest
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Bankruptcy process: ``This stinks! -- Lawmakers express shock at what they learn at a hearing on the process large companies use for declaring bankruptcy in the U.S.
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Results of the Latest TMA Trend Watch on the State of the Turnaround Industry
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TMA survey: Restructuring downturn
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Mitsubishi swings the axe at US plant, says it will shed 1,200 jobs
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Debt holders grant Midland, Texas-based Key Energy Services default waivers
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UK:

OECD sets out vision for pension blueprint
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Judge orders bankrupt to cough up!
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Excuses, Excuses, Excuses... Don't let your debtor pull the wool over your eyes
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Canada:

Putting heat on deadbeat bosses
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Russia:

Yukos Stories

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Italy:

Parmalat Banks Allowed Food Company to Hide Fraud
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Aide To Parmalat's Bondi Files Claim For Unpaid Work
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Korea:

Hynix creditors agree debt plan
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Housing Loan Defaulters Rising
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Argentina:

An 'alternative view' on Argentina
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Singapore:

Major metal trader missing as debt-laden firm undergoes liquidation
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Germany:

Germany's top banker, 5 others acquitted of charges of illegal payments
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