July 6, 2004 

Daily Bankruptcy News

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Recovery products strike a chord
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$60 million buys a bankruptcy
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As Bills Mount, Debts on Homes Rise for Elderly
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Enron:

$69 million Enron settlement in the works
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University of California Reaches $69 Million Settlement With Bank of America in Enron Securities Case
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New Mexico eyes buying Enron gas pipeline through Colorado
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Jury Rejects Exxon Mobil Lawsuit Against Enron, Others
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It's cruel, but all too usual -- Family also feels pain of a harsh sentence
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Indictment on course?
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Attorneys await action, but Lay defense confident
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Lawyers expect Lay indictment to come soon
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Court Hearing On DPC Stake Purchase Resumes Tomorrow
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Asbestos:

Asbestos victims fund has lawyers in a lather
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Victims go into bat for J. Hardie
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Accounting:

Accounting Talk Pummels Nortel
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SEC Probing Telecoms' Accounting
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Shell says profits were overstated by $432 million
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Counting option expense may be the next reform
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Some tax evaders get the message
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UK sets stage for individually negotiated liability caps
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Whistleblower Rules May Provide New Niche for Accountants

E&Y Employees Get Perks Even After They Depart

Regional Firm Raises the Bar for Competition With Web Site

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Steel:

New owner puts Georgetown steel workers back on payroll
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Ky. Renews Tyson License Without Hearing
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Tyson's future uncertain as time and money run out
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Protecting a Tenant When a Debtor-Landlord Attempts the Sale of Leased Property
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Developers, Once Friends, Now Keep Lawyers Busy
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Wickes To Sell 50 of 59 Facilities -- Cuts Deals with "Stalking Horses'
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Seitel Announces Effectiveness of Plan of Reorganization, Closing of Institutional Private Placement of $193 Million
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Analyst is bullish on HealthSouth
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What do you do with the empties?
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Suing Vatican bank, insurance official charges Frankel racketeering
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Hackney's sentencing in Frankel fraud postponed again
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Kemper teeters, owes millions in N.C. claims
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Humane Society of Indianapolis facing financial crisis
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Jury in Carolina Investors case to be sequestered
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Former J.A. Jones units find life after bankruptcy
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Mary Holmes College future in doubt after bankruptcy
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Owner's struggle with finances, health forces Wichita ad agency into bankruptcy
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Tyson tries to knock out mistakes
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Tyson fighting time, debt and demons
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Norfolk: Former ECC owner picking up the pieces
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Tale of two supermarkets
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Identity-theft prevention may come at a cost
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DB Mart stores garner interest
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New life for American Pad & Paper
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American Premier factory sells for $2M
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Wilder unit part of Maxim Crane's Chapter 11 filing: Bankruptcy won't affect operations, regional VP says
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Blanchat halts operations as bank forecloses
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Tegal: Audit for Latest 10-K Has Going-Concern Note
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Nature of Tranche B or "Second Lien" Loans
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American Express reported first quarter income up 25 percent
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Downs in lead for Fair Grounds
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Judge OKs sale of hog operation
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Lawyers suing lenders over insurance premiums
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June's Many Disappointments for Jobs
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"If You're Unemployed, You're Stuck"
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Subtenants need to know their rights in the event of a sublandlord's bankruptcy.
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Using An Asset-Based Loan With A Canadian Income Trust Can Pay Dividends
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Lessons For Healthy Companies From The Turnaround Trenches
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What The Return Of Strategic Buyers Means To M&A
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Game Over for Acclaim?
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Banks Profit From Risky Card Holders
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The Asset Protection Boom
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How Robert Blakely and an army of accountants turned fraud-ridden WorldCom into squeaky-clean MCI.
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Airlines:

Delta to ask pilots for $1B cut
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What's Ahead for United And Its Fliers as the Government Bows Out of Bailouts
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Reform or flop
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What really ails major airlines? Minor airlines
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Troubled skies
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Delta to Submit Restructuring Plan Soon
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Delta CEO Says Restructuring Plan To Be Submitted In Aug
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Board Frugal with Guarantees to Airlines
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Officials hope United has solid backup plan to get out of bankruptcy
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Cerberus's Air Canada Investment Wins Court Approval
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WestJet fires legal salvo at Air Canada
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EU Weighs Urgent State Aid for Alitalia
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Air Canada goes after Westjet CEO
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Two more of Air Canada's nine bargaining units have ratified key cost-cutting pacts
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Court approves third Air Canada investor
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Shock as SAA chief quits early
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Will election year politics tilt the scales for US Airways' bid to survive?
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Law:

This "Suing Your Lawyer" Stuff Has to Stop
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US Senate GOP Seeks To Limit Class Action Suits
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The Year Rehnquist May Have Lost His Court - Tennessee v. Lane Signals Shift
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UK Law Society could lose power over solicitors as report condemns failures
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His mountain of litigation vexes court clerks
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Linklaters nears merger with splitting Japanese firm
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Dechert chairman wins fifth term
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Clifford Chance Says It Will Pay to End Brobeck Suit
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Plaintiffs Bar Finds New Target: Nonprofit Hospitals
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One Hospital's Dubious Approach To Reducing Uncompensated Care
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3rd Circuit Denies Pro Se Lawyer Fees
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Orrick abandons DC merger bid
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Law students go a-courting: More find jobs as firms prep for expansion
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Mold queen joins Greenberg Traurig
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Docs refusing to treat trial attorneys
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Kung fu monks look for legal protection
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It's legal David vs. retail Goliath
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Billionaire Ordered To Disclose Financial Worth In Fla. Divorce
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Cororate Reform:

SEC Chairman Recuses Himself From Probe
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It's not good to be king of Adelphia
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No verdict returned in trial of Adelphia execs for fraud
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Workers angry at pay gap with execs
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Modern corporate spying tactics are subtle, yet still dangerous
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Executive Greed? The Other Guy Started It
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Looking for More Than a Few Good Directors
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Sensible reforms resisted -- Directors remain too close to those they oversee
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Connecticut made its bed with adviser
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Jury splits in Forstmann case
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A German contractor said it made payments tied to a Nigerian contract to a British lawyer already facing a KBR-linked probe
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2 Sides at a Loss to Say Who Won Pension Fund Suit
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Former HealthSouth Execs Charged in Scam
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Telecoms:

Fairholme Eyes Telecom Plays
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_________________

Game may be over for Acclaim
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Independence from credit card debt worth celebrating
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Eatery Owner: Don't Stick A Fork In Me
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Unemployment figure holds steady for a third month
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Stocks retreat after job figures disappoint
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Bankruptcy numbers in South Dakota don't follow nationwide trend
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CSFB Senior Executive Quits
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Hospital billing enough to make you sick - Second leading cause of personal bankruptcy
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How To Win With Asset Plays
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Kohl's Road to Recovery Could Be Bumpy
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Abuse claims push diocese to bankruptcy
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Diocese: Trust vs. bankruptcy
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Corpus Christi: Rodriguez aims to keep property in bankruptcy
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Conseco likely in for tough fight over Florida homestead
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U.S. mutual funds provided minimal returns
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New grads have lots of competition for entry-level jobs
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Credit Card Co. to Repay N.Y. Customers After Accusations Of Fraudulent And Deceptive Tactics
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Doubt Cast on New Jobs Generated by the Economy
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New Bankruptcy Opinions
(2 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings
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Weird News
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UK:

1 trillion and rising: British households pass debt milestone
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Tories propose new bond to ease pensions crisis
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Jobs down the tunnel
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Peterborough firms peter out
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Jarvis shares slump amid fears of collapse
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Neville-Jones tipped to find light at UK end of Eurotunnel
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Bank's debenture did create a fixed charge over a company's book debts - the Court of Appeal rules on Spectrum
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Tourists face insolvency protection worries
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North-South divide revealed in rate of business failures
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Willetts foresees pensions 'disaster'
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Ten years after Lloyd's of London scandal, investors face new threat of financial ruin
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KPMG sell Brumac Engineering Ltd from Receivership
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Jarvis facing uncertain future
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MPs call for schools contingency plan as fears about Jarvis grow
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Jarvis still has friends
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Move to reduce bankruptcy stigma
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Odds on success are best in Dod
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Why canny Scots firms are the tops at staying solvent
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A "cross demand" in Rule 6.5(4)(a) of the Insolvency Rules 1986 did not require any procedural or juridical relationship to the debt which was the subject of a statutory demand
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UK Government: Insolvency Service (National) Plans to Improve Procedures to Re-direct a Bankrupt's Post
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Pre-Enterprise Act administrators do not have power to pay a dividend to preferential creditors
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Are we all going for broke?
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A contingent debt owed under a guarantee was eligible for set-off under Rule 4.90 of the Insolvency Rules 1986
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Dundas Brothers Limited (in provisional liquidation)
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Jarvis Shocker
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'Failure rates too high'
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Pakistan:

Debt bondage widespread in farm sector
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South Africa:

Motola Scandal

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Russia:

Yukos!!

A company believed to be controlled by Roman Abramovich has gone bankrupt owing $15 million (8.2 million) to a Western aid bank
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Guta-Bank Joins Ranks of Crisis Banks
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Netherlands:

Amsterdam accuses cafe boss of bankruptcy fraud
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Italy:

Italy Gov't to OK Parmalat Plan
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Parmalat Restructuring Moves Forward
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Parmalat waits for bankruptcy
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Italian consumer federation studies legal action for Parmalat investors
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Germany:

No Respite for Germany's Jobless
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German Unemployment Unexpectedly Fell 1,000 in June
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Mexico:

Satmex wants agreement with creditors
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Canada:

Quebecor World cuts more jobs
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Canada's Fastest Growing Law Firm, Ogilvy Renault, Welcomes New Insolvency Litigator
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B.C. court gives New Skeena another month to firm up restructuring plan
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Les Boutiques San Francisco Incorporees Amends Its Plan of Compromise And Arrangement
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Creditors approve Boutiques San Francisco restructuring plan
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Argentina:

Argentina recognizes obstacles to reforms
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Korea:

Candidates selected for Ssangyong auction
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LG Card Needs More Bailout Funds
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LG Managers Unlikely to Face Insider Trading Charges
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30% of Producers Face Tight Cash Flow
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Singapore:

Pay up, or end up like this...
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Israel:

Most of the credit: he came, he fired, he went
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China:

Central bank: mired financial institutions should face bankruptcy
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France:

EU to order Alstom to form partnerships
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Investigators consider banks' role in Moulinex bankruptcy
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IXO placed in liquidation
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Nauru:

Nauru's dire financial crisis
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