March 11, 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

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Telecoms:

Once Bankrupt Global Crossing Has $25 Bln
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Global Crossing shares hit
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Brazilian Firms to Bid for MCI's Embratel Stake
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Supra Telecom to hire bank
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Accounting:

SEC: Conseco Misstated 1999 Earnings
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The SEC is examining whether bonuses and other incentives may have encouraged managers at Shell to overstate energy reserves
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El Paso likely to restate figures
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EU to propose tougher auditors' regime next week
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IRS Plan Audits-The Tale of Granny And the Wolf
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Fund demands 'monopoly' probe of Big Four
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US stands firm on registration rules
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PCAOB Approves Standard For Internal Control Audits
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Stock Drops after Auditor Quits at Portland, Maine, Software Employer
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Mark Ellenberg to Be Admitted into the American College Of Bankruptcy
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Enron:

Hurdle overcome with SEC approval
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County policy on tax breaks to be reviewed due to Enron building purchase dispute
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Trust sues investors in unit that hid debt
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CIBC named in Enron lawsuit
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S&P may cut Portland General Electric's ratings
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Final employees move out of Enron building (pic)
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Enron Finally Out of Its Headquarters Building
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Corporate Reform:

Adelphia paid for scuba expenses at Cancun board meetings
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Bank of America unit assessed record fine
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IPO Underpricing Suit Against CSFB OK'd
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Stewart's fans think housewares, not guilt
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Scrushy Alleges Misconduct in Probe
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State Street Probe Widens
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Tyco D&O Insurer To Pay Kozlowski Bill
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Verdict in Tyco case may set tone for other trials
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Steel:

Users of steel alarmed by spiraling cost
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Bankruptcy judge lets Keystone shift costs to workers, retirees
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Bankruptcy court dismisses Conseco loan case on relatedness grounds
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Conseco vs. Dick shifts to state court level
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Judicial Battle Erupts Over Bankruptcy Fraud Suspect's Release
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Consumers for Responsible Credit Solutions Calls 41 Percent Interest Rate Visa Credit Card 'Abusive'
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Thriving debt buyer takes business public
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SEC Rides U-Haul
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U.S. Equipment Lease ABS Delinquency Index Falls Below 2%
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Stocks plunge amid deficit fears
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Tyson to tour China to ease bankruptcy
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Git-N-Go was back in bankruptcy court on Wednesday
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Tranzon to Help City of Desert Hot Springs Ease Financial Woes Through Auction Method
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Curtain could close on symphony
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What to Do When Your Subs Run Into Financial Problems
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Is Recovery Without Jobs Now the Norm?
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Creditors committee joins objection to parts of law firm's bill
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Casino decision comes down to the wire
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Bids fly fast and furious at auction for casino
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Roussel makes Fair Grounds bid
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  Tom Thumb convenience store chain files for bankruptcy
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GOP Senators Seek Action on H.R. 975
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Airlines:

Idea man mystified by report of new Hawaii airline
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Flying on empty
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United Airlines Flight Attendants Picket and Leaflet at Newark and Three San Francisco-Area Airports
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Air Canada rebuffed again
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Unions shun Air Canada meeting
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EU Lawmakers To OK Crackdown On Airline Aid; Targets US
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Northwest pilots discuss cuts
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Law:

Clifford Chance votes on streamlined partner exits
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Baker begins search for Lagarde successor
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Banker Finds Firms May Be Short Lawyers as Economy Warms Up
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Debevoise keeps pace with NY rivals as its profits surge
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Law Firms Use More Technology to Make Business Run Smoother
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Fallout From Rainmaker's Woes Worries Firm, Rivals Alike
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Willkie Farr seals $9bn Adelphia financing
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Two NY Department Heads Join Rival Firms
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Foley launches Silicon Valley base with merger
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The increasing importance of computer-based evidence
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SEC urged to investigate lawfirm
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(Warm) milk and alcohol
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When the Right Jury Does a U-Turn
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In-house departments will be out-sourcing less work to private practice
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Are In-House Legal Departments Really Better on Balance?
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Can These 2 Models Boost Your Associate Training & Retention?
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NJ Moving to Hold Professionals Accountable for Ad Statements

Two NY Partners Head for the Exit
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Letter of the law
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Where to Focus in the New Push for Talent Retention
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NY Law Firms Force Sale of Home for Fee Debt
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Part-Timers: Good Value for the Money
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In Western Massachusetts, Starting Pay Is Relative
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Law firms and banks are getting too close
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Partners brand sweetheart fee deals with banks as ‘unethical’
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Software That Does It All
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Why Lawyers Leave & What You Can Do to Ease Departures
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Merging Marketing, Tech, Research
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New Survey Data on Law Firm Health-Care Plans
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Angry Justices Hear Excuses From No-Show Lawyer, Ex-Boss
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Asbestos:

Labor Asks Senators to Oppose Asbestos Bill
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The Pentagon has asked the Justice Department to join an inquiry into alleged fuel overcharging by Halliburton
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Energy:

NorthWestern bankruptcy demands PSC action
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Letter from Delaware -- Republicans try again on bankruptcy reform, Blackshear's courtroom auctions, Emerald Casino's license lawsuit, and more
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Bankrupt Taxpayer Denied Damages for Continued Tax Collection
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Bankruptcy lawyers paid well by SE hospital
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DIP dimensions: Parmalat USA Corp.
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Binion's deal on track
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New Bankruptcy Opinions
(2 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Why Firms Fail -- A Look at US Law Firm Dissolutions from 1998-2004
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Pre-Petition Payments Critical to Debtor's Reorganization
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Bankruptcy judge fines key Perdue ally
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Of Fallen Angels, Spin-Offs, and Tax Attributes
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Selected Risks and Problems with US Cross-Border-Leasing / Financings
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Creditors have pursued claims against Asia Pulp & Paper all around the world. They have yet to recover a dime.
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V-Net Beverage, Inc. is Released from Bankruptcy
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UK:

The pension thieves
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Salvage hope for soft drink firm
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Ernst & Young continues to face the prospect of disciplinary action for its role in the near collapse of Equitable Life
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Former Equitable CEO slams Penrose
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Equitable deaf ear to whistle-blowers
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Experts round on insolvency plans
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Limited liability puts spotlight on Scots law elite
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Korea:

Creditors Extend Maturity of LG Card Loan
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South Korea announces bailout package to clear debt
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Argentina:

Argentina Invites Creditors for Talks, Targets June Completion
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New talks planned on Argentine debt
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Argentina helps keep up facade
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Argentina defiant towards private creditors
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Loan ranger
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IMF and Argentina sign deal on new loans
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Investors Wary of IMF Deal
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Argentina promises to meet $131 billion defaulted debt
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Press warns over IMF deal
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France:

EU Says It Will "Review" Alstom Bank Renegotiations
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South Africa:

Consumers spend more of what they don't have
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Italy:

Parmalat to retain some units
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Parmalat plaintiffs put hopes in US justice
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JP Morgan director named in Cirio fraud probe
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Bondi Wants Banks Probed Barred From Committee
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Brazil Congress seeks farm loans for Parmalat buy outs
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Rescue plan for Parmalat calls for sale of US assets
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Parmalat trying to sell off chocolates maker
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Parmalat Scandal Highlights Fraud Concerns
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Japan:

IRCJ commits to 366 billion yen bailout of Kanebo
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Kanebo thrown $3.3bn lifeline
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_________________

Israel:

You don't have to be rich to go bankrupt
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Greece:

Olympia Explorer and Olympia Voyager to Be Auctioned
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Mexico:

Ahmsa progressing on debt talks
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