March 25, 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 prior headlines at http://bkinformation.com/PriorEditionsSearch.html

         

Credit Counseling:

Abuses by Credit Counselors Widespread
(DBN Subscription Required)

Eye credit-counsel quicksand
(DBN Subscription Required)

Cambridge Credit Comments on Senate Subcommittee Hearing on Credit Counseling Industry
(DBN Subscription Required)

Credit counseling sanctions hinted
(DBN Subscription Required)

Credit adviser abuses charged
(DBN Subscription Required)

Senate Government Affairs Committee Report on Credit Counseling Abuses
(DBN Subscription Required)

________________

NAHB CEO Blasts Proposal To Set Up GSE Receivership Plan
(DBN Subscription Required)

Law:

US legal elite power ahead as profit growth breaks 10% -- Top 50 law firms record average fees growth of 10% and revenues of $29bn
(DBN Subscription Required)

UK firm Norton Rose to implement three-tier lockstep regime
(DBN Subscription Required)

Firms Make Room on the Staff for Selling 'In'
(DBN Subscription Required)

Powell Goldstein Names Twelve New Partners, Counsel and of Counsel
(DBN Subscription Required)

Advice for the Lawlorn
(DBN Subscription Required)

Top NY Firm Sells Its Home
(DBN Subscription Required)

Client blasts DLA conflicts stance on deal where firm acted on both sides
(DBN Subscription Required)

NJ Firms Merge
(DBN Subscription Required)

Shearman staffer hits jackpot and quits post
(DBN Subscription Required)

UK firm in low-margin property outsourcing push
(DBN Subscription Required)

Attorney Late for Hearing Over Missed Supreme Court Argument
(DBN Subscription Required)

Lawyer Jailed for Refusing to Represent Client Who Punched Co-Counsel
(DBN Subscription Required)

Sidley corporate head defects to Milbank Tweed in New York
(DBN Subscription Required)

Wilson Sonsini bounces back with 10% profits hike
(DBN Subscription Required)

Paul Weiss partner profits hit $1.84m
(DBN Subscription Required)

Jones Day heads up Fortune 1000 poll
(DBN Subscription Required)

Down, but not out in New York
(DBN Subscription Required)

Baker beats Skadden to win best US firm in London tag
(DBN Subscription Required)

The race to recruit
(DBN Subscription Required)

How to avoid the pitfalls of cross-border firm mergers
(DBN Subscription Required)

Linklaters Head of Strategy quits
(DBN Subscription Required)

Philadelphia firms hit by plans for new tax on legal services
(DBN Subscription Required)

________________

Geo Specialty Chemical Gets OK For Emergency DIP Loan
(WSJ: separate paid subscription required)

Larry's Shoes bankruptcy plan approved
(DBN Subscription Required)

WestPoint Stevens Gets Court OK To Sell 395 Looms
(WSJ: separate paid subscription required)

Letter from Delaware -- Walrath pares down her caseload, W.R. Grace gains leverage, Lingua Franca founder sides with freelancers, and more
(DBN Subscription Required)

Bankrupt golf course costs unpursued mystery
(DBN Subscription Required)

Coram's equity committee survives
(The Deal: separate paid registration required)

Andujar seeks new trial on bankruptcy fraud
(DBN Subscription Required)

FTC seeks civil penalty for debt collectors
(DBN Subscription Required)

Minnesota-Based Company Has Winning Bid for Bankrupt Connecticut Business Products Firm Executive Greetings
(DBN Subscription Required)

Buyout of Maine Paper Mills Hinges on Loan Negotiations with State
(DBN Subscription Required)

Baldacci calls mill offer 'serious'
(DBN Subscription Required)

Wellington Leisure Products, Inc. Expands the Scope of Keen Realty's Work in Chapter 11 Proceedings
(DBN Subscription Required)

Desert Hot Springs bankruptcy auction brings in $1.2 million
(DBN Subscription Required)

Shoe stores begin liquidation
(DBN Subscription Required)

Past-due card debt sets record; other delinquencies drop
(DBN Subscription Required)

Pittsburgh: Timetables for city's insolvency differ
(DBN Subscription Required)

 

Telecoms:

WorldCom Faces $130 Million in Tax Claims by Maryland
(DBN Subscription Required)

Senate to discuss Embratel sale on Mar.30
(DBN Subscription Required)

73 subpoenas issued in OneStar investigation
(DBN Subscription Required)

_____________

Airlines:

American's ex-CEO joins Hawaiian team
(DBN Subscription Required)

Ruling Expected In UAL Airport Municipal Bond Dispute
(DBN Subscription Required)

US Airways CEO asks for new sacrifices by workers
(DBN Subscription Required)

CEO Says Clock's Ticking on US Airways' Presence at Pittsburgh Airport
(DBN Subscription Required)

US Airways says Southwest's move threatens it
(DBN Subscription Required)

Air Canada Seeks to Speed Talks to End Bankruptcy
(DBN Subscription Required)

Bombardier clears financing for Air Canada jets
(DBN Subscription Required)

Great Plains is in a holding pattern on Chapter 7 liquidation
(DBN Subscription Required)

_____________

Corporate Reform:

Rigases retained 22 company cars after resigning
(DBN Subscription Required)

Rigas Is Accused Of Rubdown Shakedown
(DBN Subscription Required)

White Collar Jail Rules Tested in Dynegy
(DBN Subscription Required)

'Other' Adelphia Trial Is Just as Crucial
(WSJ: separate paid subscription required)

SOX Compliance Is Not Cheap
(DBN Subscription Required)

Putnam Says Ex-CEO Hid Abuses, Fights SEC Fines
(DBN Subscription Required)

New, Hard Numbers on Sarbanes Expenses
(DBN Subscription Required)

_____________

Enron:

Batson to earn $95m for 18 months Enron work
(DBN Subscription Required)

GAIL joins Tata,BP to bid for Enron's India assets
(DBN Subscription Required)

_____________

Steel:

Creditor Challenges Rules For Weirton Steel Sale
(DBN Subscription Required)

Struggling steel fabricator, bonding company still at odds
(DBN Subscription Required)

Weirton debt a concern
(DBN Subscription Required)

International Wire Group, Inc. Reaches Agreement with Noteholders to Recapitalize; Company Files Voluntary Chapter 11 Petitions to Effect Recapitalization
(DBN Subscription Required)

________________

Energy:

Citibank Objects To Inquiry By Mirant Equity Panel
(WSJ: separate paid subscription required)

PG&E Corp. Chairman Says Company is on Course to Enter Period of Stability
(DBN Subscription Required)

Redstone files for bankruptcy
(DBN Subscription Required)

_____________

Accounting:

Scandals Reveal Shift in Audits
(WSJ: separate paid subscription required)

U.S. auditor-client ties becoming less cosy
(DBN Subscription Required)

Protection One Auditor Raises Going Concern Doubt
(WSJ: separate paid subscription required)

LaserSight Inc's Independent Auditor Resigns
(WSJ: separate paid subscription required)

DTI investigates Big Four 'monopoly'
(DBN Subscription Required)

FASB proposal meets stiff opposition
(DBN Subscription Required)

Superconductor Tech plunges; going-concern doubt seen
(DBN Subscription Required)

Rhodia Auditor Raises Going Concern Doubt
(WSJ: separate paid subscription required)

Former IRS Tax Collector Publishes Memoir
(DBN Subscription Required)

Motient Corp Auditor Raises Going Concern Doubt
(WSJ: separate paid subscription required)

_______________

Commercial lending chief leaving Fleet
(DBN Subscription Required)

Court OKs Bondholder Settlement In Oakwood Homes Case
(DBN Subscription Required)

Mitchell H. Cohen Inducted into the American College of Bankruptcy
(DBN Subscription Required)

 

New Bankruptcy Opinions
(2 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
(DBN Subscription Required)

The percentage of Americans falling behind on their credit card payments is soaring, and so is the cost of falling behind
(DBN Subscription Required)

15 New Inductees in American College of Bankruptcy
(DBN Subscription Required)

UST assails Greater Southeast bankruptcy plan
(DBN Subscription Required)

Soaring steel prices crimp US auto industry, pushing some suppliers toward bankruptcy
(DBN Subscription Required)

Automotive supplier Lextron files for bankruptcy
(DBN Subscription Required)

Adelphia, TelCove Get Crt OK Of Settlements
(DBN Subscription Required)

Clear Thinking Group's Myers Named Liquidation Consultant On BSI Holding (Formerly Bob's Stores) Chapter 11 Case
(DBN Subscription Required)

Ocean Choice buys assets of bankrupt Polar Foods
(DBN Subscription Required)

Holder to probe casino license decision
(DBN Subscription Required)

Gaming Board Not Fit to Decide Rosemont, Ill., Casino Issue, Governor Says
(DBN Subscription Required)

Metropolitan Mortgage & Securities, Summit Securities and Metropolitan Investment Securities File for Litigation 'Freeze'
(DBN Subscription Required)

UK:

Inland Revenue is owed 14bn
(DBN Subscription Required)

Strides to the rescue of its troubled competitor
(DBN Subscription Required)

DTI denies accusations of insolvency own goal
(DBN Subscription Required)

MPs in new call for Equitable compensation
(DBN Subscription Required)

Change in company law would damage investors
(DBN Subscription Required)

Tax avoidance fines are branded 'laughable'
(DBN Subscription Required)

On the complexities of calculating BCCI fraud losses
(DBN Subscription Required)

Bankruptcies up almost one-third
(DBN Subscription Required)

The Recovery of Debt by the Inland Revenue
(DBN Subscription Required)

______________

Italy:

Fast track trial route blocked
(DBN Subscription Required)

Irish Parmalat unit to be wound up in Ireland
(DBN Subscription Required)

Parmalat Restructuring Unaffected By Trial Setback
(DBN Subscription Required)

Italian "save soccer" plan meets strong opposition
(DBN Subscription Required

______________

Poland:

In God we trust, but, as Stella Maris discovered, the rest pay cash
(DBN Subscription Required)

________________

Argentina:

IMF Acknowledges Failures in Argentina Crisis
(DBN Subscription Required)

IMF owns up to Argentina errors
(DBN Subscription Required)

Small creditors to open talks on defaulted debt
(DBN Subscription Required)

_________________

Canada:

DBRS downgrades Sears Canada: 'consumers remain reluctant to spend at Sears'
(DBN Subscription Required)

EP 2000 Conservation Inc. Subsidiary Files Notice Of Intention To File A Proposal Pursuant To The Bankruptcy And Insolvency Act
(DBN Subscription Required)

________________

Australia:

Director jailed 12 years for $11m scam
(DBN Subscription Required)

Pan creditors mull legal action
(DBN Subscription Required)

Workers Win Protection when Business Goes Bust
(DBN Subscription Required)

________________

Korea:

Creditors to Have Cooling-Off Period for Ssangyong Motor Sale
(DBN Subscription Required)

________________

Please note that the Daily Bankruptcy News is primarily a news link gathering service.   This means that most of the headlines contained in the publication are a collection of links to stories posted on the Internet by various third party publications.  Such content is owned by third party sources, not the Daily Bankruptcy News, and in some cases, these links change or expire, which means you may not be able to view some news stories in prior editions of the Daily Bankruptcy News. 

The DBN subscription fee for access to certain links is not a fee for access to the content of the links, but is a charge for the considerable work involved in gathering, organizing and presenting the links. Use of this site and The Daily Bankruptcy News is subject to our Terms of Use.

If you received the Daily Bankruptcy News via email (and you have a paid subscription account), to view a news story, click on the headline, and the story should open in your web browser. To view additional stories, click back to the email and click on additional headlines, which will cause new stories to open in your web browser.  You can view the Daily Bankruptcy News on the web by clicking here, or by going to BKINFORMATION.COM and clicking on the Bankruptcy News button.  Note that the Daily Bankruptcy News is distributed via "HTML email" in which the links to the news stories are embedded in the headlines.  The email you receive should look like a 3-column newspaper, with headlines for each story. If you receive the Daily Bankruptcy News by email and the copy you receive is not formatted like a 3-column newspaper, or does not seem to contain links to the news stories, you may have an email client that is not capable of receiving HTML email, or is not configured to display such email.  You can however, receive a daily email notifying you when the Daily Bankruptcy News is updated on the web site. If you would like to receive such an email, please let us know at admin@bkinformation.com.

You can search the headlines from prior editions of the Daily Bankruptcy News by clicking here.

Advertising
Advertising is available in the Daily Bankruptcy News in a variety of places, formats and prices. Go to http://bkinformation.com/DBN_ADs.htm  for a list of choices.  Feel free to contact us with any questions.

Passwords
Access to certain links in the Daily Bankruptcy News is available only to readers holding a paid subscription
.  These links are currently marked with a "DBN Subscription Required" notation. The cost of a subscription is $45/year, payable annually.  Volume discounts are available for sites with multiple users.  Complimentary subscriptions are available for full-time  educational and governmental employees and for full time students. For information about discounts or educational/governmental subscriptions, contact us at admin@bkinformation.com. A separate password is required for each member of a firm wishing access to restricted links. New readers can receive a free password good for 30 days by going to http://bkinformation.com/RegistrationForm.cfm. Readers who wish to change their passwords should go to http://bkinformation.com/ChangePasswordForm.cfm. Readers who have forgotten their password should go to http://bkinformation.com/GetPassword.cfm

Adding Your Email Address To The Distribution List
If you would like to start receiving the Daily Bankruptcy News by email each day, go to http://bkinformation.com/SubscribeDBNForm.cfm  and fill in the information requested.  There is no charge to be placed on the distribution list to receive the headlines, although access to many of the links behind the headlines requires a paid subscription (see above, under Passwords). If, after adding your email address to the distribution list, you do not receive an email confirming the addition, please contact us at admin@bkinformation.com for help.  

Removing Your Email Address From The Distribution List
If you already receive Daily Bankruptcy News by email and you wish to remove your email address from the distribution list, click here and send the email that should appear.  Note that the email must be sent from the same email address at which you are receiving the Daily Bankruptcy News. You do not need to type anything in the body of the email message.   If you do not receive an email confirming deletion of your email address from the distribution list  for the publication, contact us at admin@bkinformation.com for help.

Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C.  You can reach us at 281-242-6208 or at admin@bkinformation.com