June 9, 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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Airlines:

Delta's Ch. 11 filing: When, not if
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Pilots union says airline asks too much
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Fliers are back. So why are carriers crying for bailouts?
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Airline in receivership before taking off
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Delta Presses for Cutbacks By Citing Stark Outlook
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Pentagon didn't ask airlines for $100 million in refunds
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Enron:

CEO defends choice of Chapter 11
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The banks that robbed the world
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Lea Fastow to serve sentence at facility in Houston
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Strict regimen awaits Lea Fastow in detention
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In the Northwest: Enron's real obscenity is continuing cost of 'crisis'
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Enron tapes speak volumes
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Law:

Lawyers nurture their own as never before
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Another Reality TV Casting Call for Young Lawyers
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Public Has Right to Inspect Court Dockets
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LegalMatch Founder Indicted -- Charges Allege Hacking of Competitor's Voice Mail
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Another Long, Dry Season for Summer Associates
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Telecoms:

NextWave Reorganization Accelerates
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Allegiance Telecom Plan of Reorganization Approved by U.S. Bankruptcy Court
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Airline Deregulation: Lessons for Telecom
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Corporate Reform:

Mulcahey contradicts statements by Brown during testimony
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Bank One, Invesco, Conseco May Reach Fund Settlements
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WorldCom figure widens guilty plea
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Former Adelphia Exec Defends Investments
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Whistle While You Work
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Sarbanes-Oxley: A Guide for Europeans
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Spitzer: Won't Settle Grasso Suit
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Ex-Tyco Director Lost Faith in Lawyer
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Light Sentences Cast Cloud on Crackdown
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87 Percent of CEOs Fail Candor Test

Corporate governance and Sarbanes-Oxley -- Boon or bust for D&O insurers? (article in publication, scroll down after opening)
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Ex-Rite Aid exec sentenced to 2 yrs probation
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Corporate Boards Undergo Shakeup
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Accounting:

CFA Exam Global Enrollment Exceeds 83,000
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International Financial Reporting Standards continue to progress (article in publication, scroll down after opening)
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UK firms prepare for US oversight
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Oracle FD claims Andersen collapse was 'unfair'
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Asbestos:

Sealed Air contests W.R. Grace Ch.11 court ruling
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Sellers knock $1 off Hardie shares
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Equitas faces 4bn ' asbestos threat '
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Managing insurer asbestos risks (article in publication, scroll down after opening)
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Advocates call for reform of Madison County legal system
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HealthSouth Wins $1.9 Bln Debt-Restructuring Accord
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HealthSouth, Bondholders Reach Accord on Debt Terms, Averting Bankruptcy
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Accounting:

IRS Encouraged By Partnership With States To Combat Abusive Tax Avoidance Schemes
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CFO and auditor resign from Insightful
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Briazz files for Chapter 11 reorganization
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Briazz menu laden with debt
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Bush backs UK plan for debt relief
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Judge postpones Fiorini liquidation
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Baltimore schools said to face new fiscal crisis
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Metropolitan Mortgage:

Collapse of Metropolitan Mortgage & Securities blamed on CEO
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'Rabbit transactions' fueled Met's demise
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Steel:

WCI Steel claims victory
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Scrappy Russian steel executive builds an empire with castoffs
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Bank's Exercise of Setoff Avoidable and Recoverable
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Kitchen Etc. can't stand heat: N.H.-based retailer seeks bankruptcy protection
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New at Ice Miller
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Greenspan vows aggressive action to curb inflation
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Utah bankruptcy filings are continuing to decline
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Fleming Cos. violated law by not giving 60 day closing notice
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5 Tips for Selecting a GOOD Credit Counselor
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Chiofaro: All alone at the top
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Galey & Lord to Close Ga. Weaving Plant
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Color Arts mum on reported troubles
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RUSAL abandons fight for Kaiser Jamaica alumina plant
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Teen wants to buy 60,000 unbuilt guns - Quadriplegic seeks stock of firm that filed for bankruptcy when he won judgment after accident
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IRS Chief Says Agency Dropped Ball on Enforcement
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Slipcover Maker Sure Fit Trims Staff in Chapter 11 Makeover
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The legendary New York agency Elite Model Management is on the block -- amid bankruptcy and lawsuits
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Jury selected in $10 million NJ mortgage-fraud trial
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Adelphia Watch
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Big Apple Soars Ever Hire
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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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Federal Judicial Conference Report On Large Chapter 11 Cases
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New Yorker stalking horses offer $153 million for Roney Palace
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U.S. hotel industry recovery a year away
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Let's Make It Official: Adding An Explicit Preplan Sale Process As An Alternative Exit From Bankruptcy
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UK:

U.K. to Impose New Rules on Lenders to Curb Borrowing
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Versailles pair handed six year jail terms
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Cushnie jailed for six years
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1.5m Debt Of High-life Dr Romeo
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Argentina:

Argentina's Creditors Shun Debt Talks, Reject Offer
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Argentina irritates bondholders
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Canada:

Genoil Inc.: Proposed Creditor Settlement
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Bank Software Woes Leave Many Canadians Without Money
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Two-thirds of pension plans are in a deficit position, study says
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Switzerland:

Banks give indebted Cablecom one-month reprieve
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Kroll Expands Restructuring Capabilities in Europe
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Iraq:

Bush Wants Iraq's Creditor Countries to Help Write Off Debt
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Euro Disney, Creditors Agree to Refinance EU2.4 Billion in Debt
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China:

The People's Republic of Ownership
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South Africa:

Lawyers requested not to sell off RAF assets
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Russia:

Date set for Yukos tycoon's fraud trial
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Open trial for Russia's richest man
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Russian Banks Cut Credits on Bank Failure Concerns
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A sense of confidence and a sense of risk -- Bankruptcy laws need improvement
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Australia:

A bill designed to stop bankrupts shielding assets in their partners' names is under fire
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Poland:

Mostostal Trustees Temporarily Impede Bankruptcy
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