June 8, 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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High court to hear bankruptcy case involving IRAs
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Enron:

Cantwell calls for release of all Enron tapes
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Judge puts off first Enron trial
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The Enron Audio Tapes
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Docs Suggest Enron's Lay & Skilling Knew About CA
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Don't pay Enron, officials say
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Latest reminders of bankrupt company's predations
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Asbestos:

Hardie shortfall blows out to $1.3bn
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Hardie blocked access to $1.9bn
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James Hardie Shares Slump on Asbestos Liability
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James Hardie's Dutch "treat"
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Owens Corning reaches settlement
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Owens Corning, some creditors reach Chapter 11 agreement
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Is compensation adequate for the injured in ubiquitous asbestos cases?
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Federal-Mogul Gets Court OK Of Ch 11 Summary
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Law:

Clifford Chance stems partner outflow with lateral
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'Enthusiasm' saves defendant wrongly accused in murder case
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Osborne Clarke astounds with 30 per cent profit hike
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Discharged Contingency Firm Still Has Chance at Collecting Fees Even If Client Recovered Nothing
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Cooley Goddard loses partner of 10 years
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Weil Gotshal raids Baker & McKenzie in Europe
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How Does Your Law Firm Website Rate?
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Departures hit Orrick and Morgan Lewis
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Lawyer's Side Practice: Political Stars' Book Deals
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Inside the Green Zone
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Where do you draw the line between zealous advocacy for your firm and telling the truth, the whole truth, and nothing but the truth when interviewing prospective laterals?
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Judicial Clerks Have Conflicts That Will Travel
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Women re-shape legal marketing
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Securitization Practice Leader Quits Firm, Takes Seven Lawyers Along
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Financial Contributions and A Career in Law
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Energy:

Governor signs PG&E bond bill
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Accounting:

Hanged by email: lessons from Shell
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Cheat to the beat -- Pop stars getting ripped off by their accountants
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More Questions on E&Y Independence
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Ernst Young Faces Informal SEC Inquiry of Consultant's Pay
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Penney Begins Search for Next CEO
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Court sides with company making 'America's Favorite Pasta' claim
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HealthSouth Nears Bond Agreement
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New World Pasta Stops Giving SEC Financial Reports
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It's an Elementary View of Money
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  Airlines:

High oil prices could cost airlines $4.7b
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EasyJet Shares Plunge on Fare Cut, Fuel Cost Forecast
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Air Can: Extreme makeover
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A brand new Air Canada? It's harder than it looks
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Air Canada may forgo equity deal
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United needs a big break, and so do we
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United feels the pressure rise
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US proposes fining UAL, affiliate over maintenance
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Out From Under United's Wing
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United's creditors seek antitrust claim on payments
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EasyJet reveals price war scars
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Airlines drop fare increases
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Corporate Reform:

The best board members are a 'pain in the neck'
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Former WorldCom CFO pleads guilty in Mississippi securities case
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Tyco Lawyer Got Early Bonus OK
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Adelphia's Mulcahey Testifies to Rebut Fraud Charges
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Adelphia Witness Denies Secret-Books Accusation
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Stewart sentencing pushed back until July
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SEC May Dilute Plan to Increase Holders' Power
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Farmland wants money back
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Finding "Comfort" in Comfort Letters in Mezzanine Loan Financing
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Chicago: Mansion owner evicts Biggs Steakhouse
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AmeriDebt's bankruptcy filing won't affect Md. clients, state says
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Buyers flock to record foreclosure sale
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Casino's hotel purchase faulted by examiner
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AmeriDebt Bankruptcy Threatens Settlement
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San Antonio Symphony to play first post-bankruptcy concert
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Former SunCruz owner sues partner
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Judge confirms amended bankruptcy plan for Tioga Park
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Judge denies TSP's claim to property
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Seducing the deadbeats
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Why Bankruptcy is Bad for Business
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Rosemont casino legal fight could drag on
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Former IRS Officer Sentenced for Looting Grandmother's Estate

Pegasus Soars After Stumbling
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J.B. Oxford to Sell Retail Brokerage Accounts
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Poor Find Some Hospitals Never Forget
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Industry Keeps After Treasury To Extend Terror Insur Provision
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Briazz Files For Chapter 11 Reorganization
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New Economy Burying Thousands of Families in Debt
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Future of chemical producer besieged -- Miss. Chemical working to emerge from Chapter 11
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Employers extend hiring spree
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Moody's Withdraws All Rtgs On Penn Traffic
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New Bankruptcy Opinions
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Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings
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Weird News
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Telecoms:

NextWave Prepares For Sale Of Six Licenses
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NextWave sale could raise $1B
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MCI Bankruptcy Court Judge Seals KPMG Records
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Consumer Credit Rose $3.9 Billion
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Steel:

Auburn Foundry asks for extension
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Slater Steel Continues Disposition of Assets
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Saving Springfield - State's 3rd Largest City Skids Toward Bankruptcy
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US property bond defaults less vs corporates-Fitch
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UK:

Freshfields's somewhat ignominious exit last week as counsel on the bid for M&S has brought out the hysterical side of lawyers' natures
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Prince's old flame in bankruptcy row
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Sexist' City bosses are sued for GBP7.8m by woman banker
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Setting a new legal precedent
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Current Distressed Companies Update
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`Welcome clarity' over book debt proceeds
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Italy:

Banks embark on Parmalat action
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Parmalat Pacific annual loss widens on parent woes
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Argentina:

Creditor group shuns meetings on Argentine debt
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Canada:

Doman creditors vote to approve B.C. forest company's plan
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McWatters Mining files proposal to creditors under federal bankruptcy act
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Russia:

Interior Ministry has no blacklist of banks
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Khodorkovsky Case Joined to Lebedev's, May Speed Yukos Outcome
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Initial Hearing Held In Ex-Yukos Khodorkovsky Case
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Ex-British Gas chief in $2bn Gazprom row
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Kozlov Tries to Calm Banks
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Moody's Calls Yukos' $1Bln Bluff
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Indonesia:

Prudential wins Indonesia bankruptcy appeal
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China:

Firm run by Zhuhai city goes bust
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Mexico:

Cydsa bondholders get firm
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Nigeria:

Nigeria's debt relief drive suffers setback as major creditors shun its plea
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