March 26, 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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Asbestos:

California victims to lobby against asbestos proposal
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Congress to debate asbestos reform in April
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Hardie briefed on what to say if asbestos money ran out
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Murray again seeks asbestos ban
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Law firm pledges Hardie asbestos pursuit
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UK firm ponders ring-fenced asbestos disease fund
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Enron:

Bond investors agree to Enron settlement
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Enron or not, IRS won't allow 'theft' deduction
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GAIL, BP, Tata Power to Bid for Enron's India Venture
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Enron Seeks Court Approval To Sell MEGS LLC Unit
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Steel:

Steel makers with high labour costs at risk: Report
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Rising steel prices worrying automakers
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Struggling steel fabricator wins three-week reprieve
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International Wire Group files Ch. 11 bankruptcy
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Rome, Camden wire plants safe in parent firm's bankruptcy filing
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Steam plant should not be part of Weirton Steel sale, creditor says
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Telecoms:

Brazilian Companies Ask WorldCom to Reconsider Bid
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Bankruptcy judge approves deal between Level 3 and Allegiance
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Brazil Phone Cos. Resubmit Embratel Bids
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Brazil phone firms seek to block MCI sale
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Energy:

NWC rejects proposal to move to Montana
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Philadelphia's financial woes return
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Economy grows at 4.1% in final quarter of 2003
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Footstar To Accelerate Sales Process For Athletic Footwear Operations; Will Enable Co To Focus On Core Meldisco Business
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Footstar to sell athletic shoe unit
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Just For Feet Stores' Bankruptcy Voids Frequent-Buyer Promotion
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Footstar Decides To Sell Stores
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Bondholders Need to Know When to Hold `Em, Fold `Em
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FTC Makes Recommendations Regarding FDCPA
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Erpenbecks to plead guilty
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Pinnacle Club Reaches Agreements With Creditors
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One Year Later: Looking Back At Carolina Investors' Collapse
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Utah still ranks first in bankruptcy filings
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  Airlines:

Southwest plans to double flights at Philadelphia
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United's loss for February down from a year ago
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Ruling expected today on bonds
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Final chapter not yet written on Air Canada
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Air Canada needs longer to restructure
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Goodale warns that changing pension rules to suit Air Canada not easy
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Crisis spurs key Air Canada meeting
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Air Travel Forecast to Grow in 2004
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Hawaiian Airlines Made $133 Million Operating Turnaround in 2003; Nation's Third Most Profitable Airline
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Boeing unit not swayed by Carty's Hawaiian plan
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Judge rules for Fey but still airs doubts
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Fey avoids second bankruptcy
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Law:

Please let me stay in jail, pleads lawyer
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Task force responds to calls for regulation of contingent fees
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Cherry picking partners away from competitors is not for the meek of heart
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Corporate Reform:

Dynegy's Jamie Olis Sentenced to 24 Years for Fraud
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Ex-Dynegy finance exec gets 24 years for fraud
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Observers call Olis sentence 'overkill'
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Seeking Levitt for NYSE role
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As jury seethes, Tyco corruption trial teeters
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Accused execs get financial relief
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Notes from the Tyco jury
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In Unusual Request, Tyco Jury Asks to Examine Accounting
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Receiver calls GMM hedge fund acts fraud
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Jackson sues over $13m in family treasures
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More games the credit-card companies play
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Credit Where It's Due
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Adelphia narrows loss
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Four banks agree to loan Adelphia $8.8 bln
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Ocean Journey to reimburse most creditors
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Wages suit pushes bankruptcy -- Employees from two closed-down Portland hospitals try to force back pay
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Mississippi Chemical announces closure of Louisiana plants
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AG questions casino decision
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Police question companies' pursuit of old debts
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Tuft's DC bid comes under attack
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Penn Traffic looks for lender agreement
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Canadian Suitor for Rhode Island Coffee Shop Chain Seeks Exemption
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New Bankruptcy Opinions
(1 new opinion today) 

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 filings
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Weird News
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Key Conseco executives double previous year's pay
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Standard Auto Seeks Dismissal Of Chapter 11 Case
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Bankruptcy cases, and fees, on the rise
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Accounting:

IRS Issues Final Regulations on Capitalizing Intangibles, Including Bankruptcy Expenses
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California Board: CPA Firms Targeted in Abusive Tax Shelter Crackdown
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Kerry is proposing a restructuring of the corporate tax code to prod multinationals to invest more in the U.S., amid growing discontent over job outsourcing
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Trying to Steady Freddie Mac
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High Court Revisits Tax on Contingency Cash
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UK:

Leeds board says expect more pain
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Firms face 218m mis-selling bill
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Do You Take Credit Cards, Mr Taxman?
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Likely impact on Scottish businesses of the proposed new Debt Arrangement Scheme
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Call for reform on awarding interest on debts and damages
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Italy:

Big day for Parmalat debtholders
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Parmalat creditors unlikely to win sway with Bondi
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Parmalat's Bondi Presents No New Measures To Mtg
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Unions say Parmalat jobs at risk after first meeting with turnaround administrator Bondi
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Canada:

Ottawa pays up, but not enough
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Takeover of Polar Foods irks Ghiz
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Argentina:

Argentina and Brazil Join Forces to Tame the IMF
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Doing the Default Samba On Copacabana
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Germany:

Record insolvencies
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Australia:

Surfwear chain promoter jailed
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Buyers keep WC Penfold out of the knacker's yard
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Korea:

Default Rates Rising Amid Smaller Firms' Cash Crunches
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Thailand:

Court Fight Brewing over Thai Petrochemical Industry's New Debt
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