June 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:

United hustles to redo aid application
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Federal Help for United Appears to Be Less Likely
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US Treasury Says No Plans To Change Makeup Of ATSB
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Denial of Loan Guarantee Leaves United Airlines with Few Options
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Feds Ought To Leave UAL To Its Fate
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United makes another plea for loan guarantee
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Northwest Airlines, Pilots Still Negotiating
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Swiss raises fears about survival after issuing warning on profits
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Jittery Vendors Add to Woes as Delta Air Lines Revamps
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United still seeking revote on guarantee
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United Loses, Airlines Win
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Hawaiian Airlines proposes $3 mil management bonus
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Air Canada will reveal new investor (if any) by Friday
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Great Plains reports negative cash balance
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Several Oklahoma Legislators Claim Confusion on Great Plains Airlines Votes
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Air France-KLM keen on Alitalia
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Law:

Orrick takes bulk of Clifford Chance West Coast practice
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It's official: Clifford Chance takes axe to West Coast
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Clifford Chance Closes Two West Coast Offices
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Linklaters appoints NY chief
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Linklaters NY brings in new blood for management role
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To the Summers Go the Spoils
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Law firm ordered to turn over records of former NO mayor
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Action Steps to Help Leaders in Countering Growing Fee Resistance
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Firm Sees Payday in Insurance Case
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Clifford Chance gives west coast the final ultimatum
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Can This Approach Help Law Firms Hire Top-Notch Lawyers?
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Judge Transferred After Scuffle With Lawyer
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Clifford Chance has decided that it's not going to be held ransom by the Americans; the festival has ended, and the boys are heading for a fall
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The Sprinkler?
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Use of Professional Actors in Courtrooms Stirs Controversy
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How Midsize Firms Can Create a Viable Niche Marketing Plan
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Succession Planning Essentials to Get Firm Leaders Started
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Accounting:

Coke, Intel Use Cayman Islands to Reduce U.S. Taxes
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Hibernia/PwC face massive US class action
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Senator Seeks Big Bounties for Tax Cheats
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SEC Approves Internal Audit Rules
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IRS Opens Hundreds of Revenue Agent Jobs
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IRS Taking Hard Look at Executive Bonuses, Deductions

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Bankrupt Big Buck Brewery hopes to stay open
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Big Buck seeks adviser for asset sale
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Rehabilitator Petitions for Approval to Sell Rights to Serve Nearly 87,000 Wellness Plan Members in Michigan to Molina Healthcare of Michigan
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Aguilera Ticketholders Awaiting Refunds
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Kansas 20th for bankruptcies
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Desert Hot Springs leaders expect good outcome in hearing on bankruptcy
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Small Businesses More Vulnerable to Bad Debt
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Harvard's Expensive New Course: Fraud 101
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  Enron:

Lay's lawyer requests meeting with prosecutors
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Lay's attorney says he won't be indicted
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Bankers fighting extradition in Enron-related fraud case
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Accused NatWest bankers fight extradition to the US
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Enron creditors ask bankruptcy court to reject NuCoastal bid
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Digging deeper into the Texas Pacific deal
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U.S. Personal Bankruptcies Hit New High In 2003
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Bankruptcy cases may overtake '03 record
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Steel:

Stelco, union start talks over weekend
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ISG completes buy of South Carolina steel company
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New Owners Pull Calvert City, Ky., Steel Plant from Bankruptcy
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Small Suppliers to Bethlehem Steel Get Caught in Bankruptcy Catch 22
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Corporate Reform:

$100 million to settle trading misconduct
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Stewart says she misses job at namesake company
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Prosecution Rests in Ex-Tyco Lawyer Trial
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SEC rule to place outsiders over fund boards
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Adelphia attorney calls trial witch hunt
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Deutsche Bank Sued Over Tax Shelters
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NH Regulators Sue Morgan Stanley
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Asbestos:

Bankruptcy Judge to Consider Request for Examiner in Owens Corning Case
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Final witness appears in James Hardie inquiry
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Asbestos sums 'restricted'
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Energy:

Judge OKs NorthWestern-Milltown deal
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Telecoms:

Day Traders among Those Bidding to Profit on Eve of Telecom's Bankruptcy
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Globalstar Telecom To File Chapter 7 Bankruptcy In NY
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DirecTV reseller Pegasus suing EchoStar
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DIRECTV Can Continue to Market its Service and Activate Customers in Pegasus Territories; Bankruptcy Court Judge Denies Pegasus Request for Temporary Restraining Order
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Statement of the National Rural Telecommunications Cooperative (NRTC) on Latest Legal Ruling Against Pegasus
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Many personal bankruptcies are really small business failures in disguise
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Onex unloads Loews Cineplex chain
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Suit says National School Fitness charity raided by dad, son
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Vivendi game unit set to lay off 350 workers
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Ousted CEO of Vivendi is arrested in France
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Crossgen Files For Bankruptcy
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Lawsuits May Send Catholic Diocese Into Bankruptcy
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Church bankruptcy
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Some abuse victims say diocese's possible bankruptcy is intimidation ploy
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Diocese letter on bankruptcy read to churchgoers
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Chiofaro has leg up on Tishman
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Kaiser noteholders join forces
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US banks, shareholders don't share love for retail
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Failed company provides a glimpse into the world of penny stocks
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New Bankruptcy Opinions
(3 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings
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Weird News
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The Use and Abuse of Domestic Asset Protection Trusts
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Little victory in Carolina Investors settlement
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Reclamation Demand Against Customer that later files Bankruptcy
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Cutting in Line: How Stock & Bondholders Are Getting Paid Ahead of Trade Creditors in Ch. 11
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Low fees prompt Merrill to pull out of Google initial public offering
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Merrill Lynch out of Google IPO
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HealthSouth consents continue forward
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Study: Illinois, Missouri have more personal bankruptcies
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Weathervane stores having going-out-of-business sales
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Fair Grounds Bankruptcy Auction Now Set for August
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UK:

Landmark ruling offers new hope for asbestos victims
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FTSE falls amid interest rate worries
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Hotel firm in crisis
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On the impact of consumer credit reforms
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Current Distressed Companies Update
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Lloyd's of London faces fraud allegations at annual meeting
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Italy:

Italian Consumer Optimism Rises on Signs of Recovery
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Turnaround Expert Presents Parmalat Plan
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Parmalat rescue plan submitted
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Parmalat outlines turnaround plan
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____________________

Canada:

M&M leads bids for Laura Secord
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China:

NPC weighs momentous new bankruptcy law
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China starts review of new market-based bankruptcy laws
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Corporate bankruptcy law draft submitted after 10-year preparation
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China to Close Bankrupt Companies
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Korea:

3 Firms Bidding to Take Over Ssangyong Motors
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__________________

Argentina:

Bear Stearns Hired by Argentine Bond Group to Advise
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Telecom launches out-of-court debt offer

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Japan:

Carlyle in Talks With Japan Banks for Buyout Openings
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Japan set to limit banks' deferred tax accounting
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__________________

Russia:

Hope Dawns For Yukos Small Holders As Government Starts Talks
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Russian Tax Officials Work On Settlement With Yukos
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Foreigners Defend Interests in Yukos
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YUKOS ready to pay $490m on debts
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American businessman can become head of YUKOS company
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Trial takes hard look at post-Soviet boom
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Government To Meet Yukos Halfway?
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Court delays decision as Yukos in discussions
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_________________

Mexico:

Grupo Iusacell Unit Didn't Make 2 Payments Due June 15
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