March 8, 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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Enron:

Harvard Copes With Alumni Lapse
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Merrill defendants seeking Enron examiner's files
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Ex-Enron treasurer Glisan in front of grand jury
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Enron Testimony Could Involve Ken Lay
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Creditors assail proposal for Enron reorganization
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Telecoms:

Level 3, Allegiance End Pact For $54M Payment
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Archibald unsecureds hire Trenwith
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Corporate Reform:

Verdict sours Martha Stewart's recipe for success
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A prison primer
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Collateral effects: Day for civil suits is dawning
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Consumers mixed in polls
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She Lied Her Way To Top - And Back Down Again
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Lengthy Prison Term for Martha Stewart Unlikely, Say Legal Experts
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More Martha Stewart Stories

New York judge dismisses most serious Tyco charge
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Looking to Add Bit of Glamour to Adelphia Trial
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SEC nears shareholder rights vote
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SEC Subpoenas 65 Former NYSE Directors in Grasso Pay Flap

Dick Grasso Is Dangerous
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SEC to Scrutinize Companies Doing Business in Rogue Nations

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Accounting:

IRS Steps Up Efforts to Catch Tax Cheats
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PCAOB to Set New Registration Deadline for Non-U.S. Firms

KPMG Partners, Employees Probed
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US swimming in debt
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Footstar Closing 165 Stores, Including Just For Feet Unit
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State funds could repay old loan
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'Adelphia' may disappear once trial ends
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Fresh Farms seeks Chapter 11 bankruptcy protection
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London Clubs ends Aladdin tale of woe
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SEC Seeks Court Order on U-Haul Parent
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Belgian accused in Vegas of bilking $40 million from investors in bankruptcy fraud scheme
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Bondholders to challenge Oregon Arena bankruptcy
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Massive Jackson collection surfaces in New Jersey bankruptcy
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Orange County accountant linked to $45 million investment scam to plead guilty
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Weak jobs data shifting scrutiny to U.S. companies
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Borrowing, overall debt both up by 8.6 percent in January
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United Sales preps for auction
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Western United Holding Company Acknowledges Action by Washington Insurance Commissioner
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Summit Securities, Inc. Acknowledges Action by Arizona and Idaho Departments of Insurance, Will Reexamine Reorganization Options
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Galey & Lord Announces Emergence from Bankruptcy and New Directors
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Saturn (Solutions) Files For Bankruptcy; Sell US Assets
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L.L. Bean Loses Interest in Eddie Bauer
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When Debt Collectors Go Too Far
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Misinformation Concerning Debt Validation Spreads
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Bankruptcy didn't stop awarding of tax credits
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Bankrupt Penthouse publisher would keep magazine under plan
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  Airlines:

Li revises Air Canada pension offer
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Air Canada offers pension change
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Trinity Offers Pension Choice to Air Canada's Non-Union Workers
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John Adams returns with new plan for Hawaiian Airlines
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Bush Admin Eases Opposition To Airline Pension Break
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White House Warns Against Extra Pension Relief
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CEO Is Being Closely Monitored at Ailing US Airways
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Asbestos:

Good Faith a Key Element in Asbestos Plan Confirmation
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Steel:

Stelco, union await ruling
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Judge calls on union, Stelco to co-operate
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Whether or not Stelco insolvent, it's 'into a problem': restructuring judge
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Bayou Steel Names Jerry Pitts CEO After Ch 11 Emergence
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ISG Offers Weirton Workers Incentives
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Law:

Jenkens & Gilchrist Pays Big to Settle Tax Suits
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Law Firm Settles in a Tax Shelter Case
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Top Firm Changes Name, Tries "Daring" New Image
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Law firm settles legal-malpractice suit tied to Znetix securities scam
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Aggressive Billing Tactics Lead to Disbarment
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Law firms not just about lawyers anymore: Meet the merger analysts and human resource consultants and fraud investigators and ...
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Collegial to corporate: Law firms are changing, partner
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The secrets of 10 rainmakers
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Lawyers bring an international class action case to rural Madison County
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The class action game
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Scandals don't deter law firms' multidisciplinary reach: Fallout from accounting firms serve as cautionary tale for ancillary business
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In law firm diversity, clients can drive winds of change
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Managing partner: Like an orchestra conductor at work
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Mining the hub: Increasingly, and with no sign of letup, national law firms are cracking the Boston market
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Going private: Law firms lure public-sector veterans: Trial experience, ability to work on a budget cited as primary selling points
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King & Spalding move a coup for Midtown
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Entitlement debts are staggering
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CFO: Metropolitan Mortgage restructuring in trouble
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American Steamship may save Oglebay Norton
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Audit Reveals Poor Financial Outlook For Prince George Hospital
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FTC Challenges Bogus Debt Negotiation Service
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Colorado State banks drop below U.S. average
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Car warranty service firm's bankruptcy shield upheld
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Former Israelis face federal charges in U.S. over multimillion dollar fraud case
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Bush jobless recovery hits middle class
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Fed chairman may not have best read on U.S. credit picture
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Tim Hortons offers $35 million for Bess Eaton
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Party Ended for Irvine, Calif., Mortgage Company Instafi.com when Interest Rates Rose
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Symbiat Board Announces Plan to Discontinue Operations
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New Bankruptcy Opinions
(2 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Kmart Objects To $6.6M In Trumbull Copying Fees
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Wells Fargo Unit Sues Kmart For Unpaid Fees
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Bankrupt seniors now the debt generation
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Big Snack Maker Files for Bankruptcy
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JoeAuto steers into tough times: Interim financing will keep the auto repair company on track as it works to emerge from bankruptcy
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Harrah's leads bidding for Emerald
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Expired: How a Credit King Was Cut Off
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Court Denies Bid to Block Cone Mills Sale
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Fitch Downgrades DVI Medical Equipment Securitizations
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Living on Borrowed Dimes
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Retiring in the Red: A New Reality for Older Americans
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Goldsmith Agio Helms' Vice President Named Certified Insolvency and Restructuring Advisor
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UK:

Lords rule on 'floating charge'
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Equitable Members Lobby Group Demands Government Compensation
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Leeds: Money to burn
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Morris parts company with Leeds
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Leeds Utd 10m in debt to taxman and Customs
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'Businessmen run company like a business': that's the shocking truth about MG Rover
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Liquidation threat hangs over Wimbledon FC
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Barclay attacks 'unfair' verdict
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Italy:

Banks secure Parmalat assets
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Italian Court Releases Parmalat's Francesca Tanzi
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Parmalat Seeks As Much As EUR500 Million From US Banks -Sources
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Italian prosecutors are widening a probe of Bank of America's involvement with Parmalat by examining compliance issues
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Behind Parmalat Chief's Rise
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Italian soccer clubs struggle
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Argentina:

US Judge Backs New Bondholder Suits Against Argentina
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Argentina and the fund, a sequel
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Argentines back hard line on debt
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Argentine bondholders score double court victory
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Korea:

Adult Desertions of Families
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Creditors Likely to Recoup 2 Tln Won Before New Loans to LG Card
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Bad Bank Planned to Clean Card Debts
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Jamaica:

Grant advocates bankruptcy provisions similar to US, Canada
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South Africa:

Leisurenet liquidators demand R1,2bn from directors
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Indonesia:

Many small furniture firms go bankrupt
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Australia:

Fraud, bankruptcy force treasures on the block
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