June 16, 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

         

Energy:

FERC orders California to refund $270 million to Enron, others
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California Told to Refund Money in Power Flap
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Kiel Bros. Oil Co. files for bankruptcy
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Kiel Bros. Oil Co., Inc. Voluntarily Seeks Chapter 11 Protection
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Northern Offshore Announces Restructuring Proposal, In Discussions With Noteholders
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Asbestos:

Senate's Daschle Says Still Time for Asbestos Deal
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Grace Files a Motion to Acquire Alltech
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Bondholders key in Owens case
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Lawyer defends Hardie capital transfer
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Regulators keep eye on Hardie
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Court not misled: Hardie
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Analyst predicts extra $400m asbestos hit for Ace this year

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Steel:

Leggett & Platt to buy bankrupt Georgetown Steel
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Companies still vying for Georgetown Steel
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Steel mill bids to be revealed on Thursday
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Steel stocks soar on demand
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Enron:

Those (expletive) Enron tapes
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Enron Scandal Lawyer Disciplined
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Law:

Debevoise scoops US government litigation ace
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Top Law Professors' Star Power
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Ex Delaware Chief Justice Begins New Career At Law Firm
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Lawyer loses license, lawsuit after snatching clients from another firm s voice mail
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5th Circuit Considers Insuring for Punitive Damages
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Clifford Chance West Coast stung by partner exit number four
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Judge Seals File in Attorney's Suit against Law Firm
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Second-Career Lawyers
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Reeling Clifford Chance Faces Loss of Key Practice Group
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Accounting:

Panel moves against FASB
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KPMG Shelter Shaved $1.7 Billion Off Taxes of 29 Firms
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House panel probes tax code's worst woes
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Key Energy Is Named in Class-Action Lawsuit
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Is U.S. Housing Boom Coming to an End?
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New York-Based Firm Increases Bid for Bankrupt Mining Company
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Congress Ponders Allowing IRS to Penalize Payroll Agents Who Falsify Records
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WBC:

WBC has knocked itself out
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Faced With $31 Million Judgment, WBC Says It Intends to Liquidate
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Donald Trump Keeps $8 Million Deposit on Apartment
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  Airlines:

Discounters taking fight to big airlines' hubs
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Regional Carrier Sheds Its Partners to Fly Solo
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Judge refuses CIBC withhold request
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CIBC loses bid to keep millions owed to Air Canada
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ATA shares slip after forecast for quarterly loss
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Carty's partner in takeover bid exits
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U.S. to Extend Post-Sept. 11 Airline Insurance Subsidies
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Bankruptcy lawyer suspended after acquiring clients' homes
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PWC Report On Declining Bankruptcies

Telecoms:

SEC, Bankruptcy Judge Seen in MCI Probes
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Ex-WorldCom directors agree to deal on lawsuit
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MCI judge unseals tax records
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Corporate Reform:

Ex-Tyco Director Testifies That He Was Secretly Paid
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New Grubman grief
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Freddie, Fannie Oppose Key Aspects In New Governance Rules
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Seven Former SEC Heads Endorse Independent Fund Co Chrmn
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Belnick Defense Tries to Show Witness Had Problems of His Own
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Corporate Interests Try to Hold Off Change
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Bankruptcy filing can give diocese a measure of control
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Diocese of Tucson weighs bankruptcy
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Bankrupt Spiegel sells catalog business
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Sport Court Inc. Sold to New York Private Investment Firm
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Kentucky bank officers to plead guilty
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Immigrants filling nearly 3 of 10 new U.S. jobs
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Pegasus Satellite sues DirecTV, telecoms co-op
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Pegasus Sues to Keep DirecTV Contract
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Florida Center for Cosmetic Surgery files for bankruptcy
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Trico Marine Services, Inc. Will Not Make Payment of Senior Notes Interest
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Iowa convenience store chain buys GIT-n-GO's assets
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Kum & Go Gets Git-n-go
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Horizon Natural Resources Announces Approval of Bidding Procedures With Respect to its Proposed Chapter 11 Reorganization Plan
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Abandoned Space, the Final Frontier? Hey, It's a Whole Other Business
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Big Buck files for bankruptcy
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Land O'Lakes Signs Agreement to Purchase Farmland's Interest in Land O'Lakes Farmland Feed LLC
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The Senior Living Properties Opinion, Should Lenders be Worried?
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An 18 percent return? It sounded good to rich investors
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Marvel Is Now Debt Free with Cash in Excess of 150 Million
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Usurf America, Inc. Responds to Receiver Appointment
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Former Assembly Machines Workers Started Firm -- Now They Own Former Boss
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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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Cashpoint: Money Mess
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Wachovia to pay fraud victims -- To settle a bankruptcy claim against CoreStates, a predecessor, it will hand over $2.05 million.
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Generation Debt - The New Economics of Being Young: Kiss Your Career Goodbye
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Bankruptcy Judge Visits Environmental Firm as State Attempts Closure
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Oneida gains extension on loan payments
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Finneran downplays Springfield bankruptcy
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Stark Printing converts to Ch. 11
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Wisconsin Maker of Industrial Molds and Dies, Ehlert, May Liquidate
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Conn Gov's Favors To Friends Focus Of Impeachment Panel
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Judges get leeway on appeal security -- Court says bond need not equal judgment amount
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UK:

Two Courts clan chiefs ousted after 34m loss
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How arts chiefs foresaw Opera's final act
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Climb base firms 'won't get a penny'
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Abuse by solicitors is revealed as so widespread and costly that the government plans to launch its own service
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Canada:

Student Loan Bankruptcy Case Goes to Court
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Davies adds insolvency muscle
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Les Boutiques San Francisco Incorporees Proceeds With the Mailing of a Plan of Compromise and Arrangement
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Russia:

Future of Yukos continues to worry investors
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Menatep Gets Yukos Debt Ahead Of Bankruptcy
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Russian Trial Opens Messy Chapter
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Potential Outcomes for Russia's YUKOS
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Yukos's Khodorkovsky, Lebedev Begin Tax, Fraud Trial
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YUKOS owner on trial 8 months after arrest
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CreditTrust, National Capital to sign agreement
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Russia's Richest Man Goes on Trial for Fraud
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Japan:

Mitsubishi rethinks bailout plan
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Bleak future for car maker
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Greece:

Greece faces decade of debt as Olympics bill soars
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New Zealand:

Asset-stripping of Owens Group continues
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Korea:

Agencies Vying to Trace Bank Accounts
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