March 2, 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:

Low-fare airlines to fight United plan / Discount carriers say federal loan guarantees unfair
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More pilots grounded
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Delta execs get awards based on '98 incentive program
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Hawaiian Holdings Announces Preliminary Reorganization and Emergence from Bankruptcy Plan for Hawaiian Airlines
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Former CEO Adams files Hawaiian Airlines reorganization plan
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GE has $5.3 Billion Exposure to Bankrupt Airlines
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UAL Corp Plans To Contribute $1.1B To Pension Plan In 04
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Great Plains revises assets' value in bankruptcy
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Great Plains Nears Liquidation As Its Fleet Shrinks
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Judge postpones hearing on Great Plains financing
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Law:

Weil Gotshal litigation devolves power after record expansion
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More lawyers make the cold call
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Crowell & Moring bolsters European presence
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Innovative GCs
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Winston and Bingham lose staff to Shearman
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Executive Explains Why He Stepped Down at Century-Old Chicago Law Firm
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Morgan Lewis publishes strong profits despite Brobeck intake
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NJ Atty Earns Record $670,000 For Bond Contract Work
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Steel:

Steelworkers president uses new tactics to keep jobs
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Stelco lost $192M in 2003 before 'substantial' writeoffs, adjustments
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Stelco Inc. restructuring update
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Sale of Slater Steel's Hamilton unit in doubt
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Some airlines, steel companies oppose pension aid
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Telecoms:

NextWave Spectrum Could Figure In Some Future Telecom Megadeal
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Investors left out of Touch America bankruptcy hearings
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Oneida sets table for asset auction
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Garden Ridge secures financing
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Bankrupt Team America to Appoint Manager
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Optibase Signs Term Sheet to Buy Media 100 Assets in Pre-Packaged Bankruptcy Proceeding
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Spiegel Owner Gets a Hard Lesson
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'Predatory' financing must share debt blame
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Genzyme Named Lead Bidder For IMPATH Cancer Testing Unit
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Genzyme continues buying spree with Impath unit acquisition
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Expert says future of Ormet may be bright
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Exide Technologies Files Joint Plan of Reorganization
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Union Representing Former Employees of Archibald Candy Corp. Approves Settlement Offer
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  Storage Engine Files Voluntary Petition for Chapter 11 Reorganization
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Financially troubled RCN gets break from lenders
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Enron:

Enron's art brings 1.74M
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Changing of guard for Enron Task Force
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Enron Corp. sells Quebec newsprint mill U.S. firm in $205-million US deal
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Prosecutors seeking former Enron executives' homes
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Corporate Reform:

Adelphia trial 'about lies and greed'
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Stage set in Adelphia fraud trial
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Rigases' regal life exposed
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Trial of Adelphia's Rigas Family Begins
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'lies & Greed'
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Half-million still owed on DU pledge
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Rigases' Theft Led to Adelphia Collapse, U.S. Says
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Jury Hears Clashing Views of Roles of Rigas Family in Adelphia
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Defense Says Rigases 'Borrowed' From Company
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Defense says family did no wrong as they lifted a tiny Pennslvania town
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US Plans Charges for Ex-MCI Chief
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Faneuil Is Focus in Stewart Closing
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Tyco bonus was called a 'mistake'
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Boies Deals Blow to Tyco Defense
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Attorneys Lose Bid for Tyco Mistrial After Testimony on Secret Payment
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Tyco testimony differs on bonus
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Prosecutor cites 'lies,' 'mistakes' in Stewart case
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Of Martha, Mountains, and Molehills
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Key Witness Stands Out in Stewart Trial Closing Arguments
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Sarbox Adding Accountability, Say Execs
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Accounting:

Sarbanes-Oxley forces company to re-hire FD
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SEC Can't Hire Fast Enough
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Supreme Court Won't Review BDO Seidman Case
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Accounting for derivatives crucial in global system
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IRS Updates the 'Dirty Dozen' Scams for 2004

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Fresh blow for beleaguered Black -- Hollinger misses interest payment
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Hollinger Inc. Fails to Make $7.4 Mln Bond Payment
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Signs of recovery boost stocks, but jobs still a worry
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U.S. Subprime Credit Card ABS Continues Upswing as Economic Recovery Gains Momentum
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U.S. manufacturers say they are starting to hire again after more than three years of declines in factory jobs
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Bidder for SunCruz: Money is coming
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Doughnut Chain to Be Devoured by Family
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Doughnut Chain Declares Bankruptcy
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Court: Payless payments were legal
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Monsanto Will Do Solutia's Cleanup in Sauget, Ill., to Avoid Federal Fines
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New Bankruptcy Opinions
(3 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Elite: Battling Back
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Sharks' deal falters, bankruptcy looms
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Rural communities struggle with underfunded ambulance services
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Judge limits HomeGold attorneys' use of insurance money
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Galvanizing Firm Files for Bankruptcy over Leasing Payments
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Bankruptcy court denies debtor's discharge because of failure to disclose all assets
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Executive Greetings Says Layoffs Are Part of Sale
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Kalakala: The unwanted guest that won't leave
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Bankrupt Irrigation-Equipment Maker Reopens Plant
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UK:

FSA net to cover trustees in bankruptcy
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Appeal Court rejects BCCI privilege defense
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Liquidators win disclosure victory in BCCI showdown
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Itís not the new DC, but thereís gold in them there bills
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Lawrence Graham ainít cheap Ė itís just inexpensive
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Investment scam companies closed
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Italy:

Parmalat market-rigging probe to stay in Milan
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Parmalat Names Kroll to Recover Assets
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Cirio probe reveals illegal payments to Lazio players
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Future worries Brooklyn milk plant workers
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Argentina:

Argentina's Kirchner Won't Better Offer for Debt
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Argentina's SCP And Former Unit End Bankruptcy Process
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Canada:

Insolvent Doman expects $13.7 million Q1 profit
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Korea:

Creditors to Roll Over Part of LG Card Debts
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Kookmin bank Declares Emergency Management
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Australia:

Taking directors to court
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Selim sees slim chance of creditor lawsuit succeeding
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Norway:

Kvaerner's Changes to Have No Immediate Effect on Philadelphia Shipyard
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Japan:

Kanebo Gains on Creditors' Approval of More Loans
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Hong Kong:

Financial Scandal Hits Hong Kong
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