May 10, 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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New World Pasta bankruptcy filing expected
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Telecoms:

Citigroup to Set Aside $4.95 Billion for WorldCom Settlement, Legal Costs
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Citigroup will pay $2.65B to settle WorldCom case
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Orion Telecom reassures unsecureds
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Law:

Littler Mendelson Hit With $88,000 Penalty for Failure to Name Witnesses
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Lawyers Warned About Becoming Defendants
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Law firms get savvy with office space, needs
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Orrick talks merger with D.C. firm
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Orlando: Law firm loses buyout bid, decides to stay in tower
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Latham raids White & Case for capital markets push
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How to Spot a Bad Lawyer
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Firm Hit With Anthrax Scare
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First Black Partner Named to Top Management Job at Large Philadelphia Firm
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Energy:

Mirant trying to slow exodus of employees
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Power Firm Bankruptcy Strains Budgets: Alexandria Angry About Debt As Well as Plant Emissions
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NorthWestern quarterly profit up
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Ex-Manager of Sempra Energy Is Convicted of Fraud in Role with Another Company
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FAO Schwarz ready to play
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Huffy's future is uncertain
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Washington Park fund paid off personal bills
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Boston: Chiofaro chooses Chap. 11: Move aimed at Tishman takeover bid
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Jacko In $7m Payoff
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Public offerings out of hiding: Downturn in tech taught tough lessons
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Tarver Seeks Protection In Bankruptcy Court
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Don't let chapters 7, 11 be your unlucky numbers
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Trade Commission Sues Company Accused Of Bilking Debtors
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Solutia:

Retirees Sue Monsanto, Pharmacia
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Escambia facing $3 million tax loss from Solutia bankruptcy
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Solutia's CEO envisions new company rising from debris of the old
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Accounting:

BDO offers to chase up Iraq debts
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SEC Charges Pimco With Fraud
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End-Run Debt
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Dream of Fleeing the Taxman? Get Real

PCAOB Disapproves First Auditor
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Nortel in Default of Reporting Rules
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  Airlines:

US Airways May Consider 2nd Bankruptcy
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US Airways CEO Doesn't Want To Break Up Company
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US Airways warns of second bankruptcy
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U.S. Airways Warns of Bankruptcy Again Without Wage Cuts
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Southwest gives Philadelphia rival brotherly shove
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Airline bosses who try to cut jobs lose theirs
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Origin Pacific Statement
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US Airways seeks cost concessions from labour unions
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United 'confident' of return from bankruptcy
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United Airlines CEO Says Loan Deserved
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Workers struggle with emotional turbulence
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Low-Cost ATA's Parent Posts Wider Loss
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Air Vegas unit files for bankruptcy
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Arrow previews new business plan
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Sabena, Part Due
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To Cure the Incurable Default: Another Look at Claremont and BankVest
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Economy:

U.S. firms ramp up hiring
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Jobs grow sharply in April
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Enron:

Enron's Dabhol ownership
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India says creditors near deal on idle Enron plant
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Skilling ordered to stay sober, find work
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Would-be chairman of PGE resigns after admitting to affair with 14 year old
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Corporate Reform:

Quattrone's past returns to haunt him
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Martha may play layoff card
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Investor Activism Rises
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Out of the fire: Former SEC Chairman Harvey Pitt saw the agency through Enron, Adelphia and other corporate scandals. These days, his new company advises corporate clients how to keep their names off that list
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Has Calpers Fallen Out of Touch?
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Ex-Hollinger Exec Disputes Firm's Racketeering Claims
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Uninsured risk crushing bills
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Deadline Pending in Liquidation of The Home Insurance Company
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Home Dreams Is A Nightmare For Customers
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Three lessons for survival
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Rise in prices for plywood rescues mills
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Symbol Tech Files Motion To Stay Execution Of Judgment
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Tucson Ramada to be auctioned
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New Bankruptcy Opinions
(2 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings
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Weird News
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Asbestos:

Senate asbestos talks fizzle
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Asbestos Meeting Ends Without Resolution
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James Hardie a shell of its former self, inquiry told
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A Dubious Distinction
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Fair Grounds case takes twist
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Foot Locker, Inc. Announces the Closing of its Purchase of Footaction Stores From Footstar, Inc.
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Clark Retail seeks to dismiss Ch. 11 case
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In Castoffs of U.S. Industry, Mexico Finds Some Bargains
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Graffis files for bankruptcy, debts total $7.8 million
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Judge emerges from under mound of debt
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Interpublic Loss Widens on Restructuring
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US creditors seek control in Europe restructurings
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UK:

EU, U.K. Near Accord on British Energy Rescue Aid
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Credit crisis fuels bankruptcy rise
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'More bankrupts' under new rules
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Revenue 'clueless' over 14bn taxes owed
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Moses to head insolvency body
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Eurotunnel faces demise, says ex-boss
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Bankruptcy is high. Inflation is low. The rate rise is pointless
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Deloitte keeps silent over Mayflower conflict claim
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Japan:

Japan scandal claims second victim
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Poland:

PC producer JTT Computer appears to go under for the last time
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Canada:

Tentative deal struck to save Doman Port Alice pulp mill on Vancouver Island
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China:

Will China's boom end in a crash?
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Rough road ahead for China's banks
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Indonesia:

Pru's directors threatened with jail
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Korea:

4 Investors Vie for LG Securities
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Egypt:

Egyptian bankruptcy cases decrease
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