May 17, 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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Telecoms:

From Bankrupt to Billions, With Big Investment of Time
(NYT: separate free registration required)

Telecom Job Totals Stable, but Lower
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When Citigroup Met WorldCom
(NYT: separate free registration required)

Globalstar out of bankruptcy, 'enthusiastic' about prospects
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Horizon PCS and Sprint Agree to Asset Purchase and Settlement of Litigation
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Steel:

Local governments support ISG's bid to reopen steel mill
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Weirton Steel to Become Part of ISG
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Warren, Ohio, Steel Firm's Bondholders File Alternative Reorganization Plan
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Asbestos:

Contractor burned by asbestos litigation emerges from bankruptcy
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Court OKs Congoleum Corp's Chapter 11 Plan Summary
(WSJ: separate paid subscription required)

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Diet Fad $tarving Us: Firms
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Law:

How a Law Firm's Downtown Lease Came Together
(NYT: separate free registration required)

Seattle firm adds bond group, others in Chicago play
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Seasoned Lawyers Practicing Alone for First Time
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Ex-Lawyer, Paralegals Named in Mortgage Scam
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Cover Letters and Resumes Are for Dummies: Try a Blog
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Intellectual property is law's new hot spot
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Lawyer on Board -- Look Out!
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Going In-House at Google Isn't Easy
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Texas Lawyer Proposes Tax On Lawyers
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Patent lawyers are slammed by insurance rates
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Domino effect: Hale and Dorr merger may spark others
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State's largest firm, Foulston Siefkin, adds partners: Partner designation means different things to different firms
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Energy:

PSC withdrawing objection to NorthWestern bankruptcy plan
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NorthWestern strikes deal with Montana regulators
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Montana Agency Objects to Utility's Proposed Bankruptcy Emergence Statement
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Municipal utilities fear PG&E bailout plan
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Accounting:

Grand Jury Subpoenas Documents From Nortel
(NYT: separate free registration required)

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Gaming Board memo links Rosemont to mob
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Casino firm, board try to save Rosemont deal
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Adelphia:

Chartering a New Course? -- Billionaire Paul Allen may be planning to expand his troubled cable firm by buying some Adelphia assets
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Adelphia Auction Could Unleash Cable M&A
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Liberty Media Rumored to Consider Buyout of Adelphia Communications
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Judge to Adelphia: Think again -- The bankrupt cabler must clarify why it does not want to pursue the recovery of preference transfers
(The Deal: separate paid registration required)

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Standard Register slashes more jobs
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Chicago-Based Consulting Firm Huron Seeks to Raise $100 Million in Public Offering
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Padres owner strikes riches near new ballpark
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Carolina Investors clients demand accountability
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Judge's order melts bankruptcy plans
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Kentucky player's father indicted for bankruptcy fraud living it up
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  Airlines:

Slap at United poorly informed
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United on Target With Bankruptcy Plan
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Air Canada, Unions Miss Bank Deadline
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Air Canada inching toward deal
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CAW says not optimistic over deal with Air Canada
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Terms of Air Canada deal may be too much for CAW, CUPE
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Air Canada strikes deal with regulators as it battles to stave off bankruptcy
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US Airways plans staff cut to avoid another bankruptcy
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US Airways' cuts may shift airport debt burden
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Airline will try to beat the heat
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Hawaiian Air extension placed on hold as war brews on data access
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Delta bankruptcy could be mixed blessing
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Regional carriers reshaping air travel
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Wobbling industry an unpopular buy
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Arlington Jet assets go on the auction block
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Global pain
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Alitalia shares flop on plan to seek bridge loan
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Lovells Names Bankruptcy Partner
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Corporate Reform:

Case Expands Type of Lies Prosecutors Will Pursue
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9 brokers are charged
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Stock Scam Busted By SEC
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SEC Gets Tough With Settlement in Lucent Case
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Nortel Paid Cash Bonuses Before Stock Fell
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Prosecution of financial crimes growing
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Gumshoes wear out no shoe leather, but crack case of severed feet
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After flashy failures, Internet grocery quietly grows
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PG&E bankruptcy deal benefiting environment
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Fire forces return of SunCruz vessel
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Tenneco May Follow Revlon, Samsonite in Pulling Junk-Bond Deal
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Questrom's fix-it strategy hits target at JC Penney
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Judge Aims to Protect Pennsylvania Users of Bankrupt Bill Payment Service
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Eddie Bauer needs ambush makeover
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Allentown Ambassadors file for bankruptcy
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Desert Hot Springs' bankruptcy plan approaches OK
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L.A. firm to pay $4.2M for bankrupt AZ Ramada
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Piano Companies Tune to Flat Sales
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Solutia will freeze pension-plan increases
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Toledo, Ohio-Area Courts Accept Most Bankruptcy Petitions Filed
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HealthSouth, bondholders reach deals on debt
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San Jose Medical Group ready to emerge from bankruptcy
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Connecticut Bankruptcy Judge Ends Testimony of Classic Cars Dealer Case
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Reptron Electronics, Inc. Announces First Quarter 2004 Financial Results
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Will Hoover trial begins this week
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Mothering a business: Online retailer twice avoided financial ruin
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New deal for Eastern Pulp mills
(The Deal: separate paid registration required)

Frothy mortgage market has snags
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Smart consumers reap advantages, avoid pitfalls of credit cards
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Rheems, Pa.-Based Vegetable Processing Firm Emerges from Bankruptcy
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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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Boston tower battle brings deja vu
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Chiofaro likely to lose IP, say Hub R.E. observers
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Miami, money and meltdown -- In the 80s he was the highest-paid actor in American television
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Bush Industries shareholders get say in bankruptcy
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Palm Beach: Tsunami restaurant at CityPlace is swimming in an ocean of debt
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UK:

Deckchair response to Titanic pensions crisis
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First Leisure goes into receivership
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Mayflower Vehicle could be prize
(The Deal: separate paid registration required)

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Canada:

Pay phones : Going , going . . . Canada Payphone's troubles show why
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'Outrageous' payouts fuel wave of criticism
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Italy:

Parmalat Prosecutors Seeking Indictments
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Parmalat USA calls off sale
(The Deal: separate paid registration required)

Parmalat Simplifies Claims Procedure
(WSJ: separate paid subscription required)

Parmalat Restructuring Plan Is Due Soon
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Ethiopia:

Paris Club cancels Ethiopia's debt
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Australia:

$65m left unclaimed in Ansett super fund
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Tax loss ease for shareholders in companies that fail
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Attorney general Ruddock moves to close trustees loophole
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China:

China's banks advised to sue debtors
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China's banks face crisis
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Temptation returns for credit junkies With the economy starting to improve, experts fear a surge in borrowing
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Korea:

Korea on Alert Over `China Shock'
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Israel:

Banks leave Yes in the cold, won't inject more capital
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Germany:

Deutsche Bank May Buy Film Maker Senator's Debt, Spiegel Says
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Spain:

Eurobank and creditors agree on payment of debt
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South Africa:

Tycoon's hotels on auction
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Rights fall through cracks in records of house debt probe
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India:

India's stock market plunged in its biggest single-day drop ever
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Russia:

Before the crash -- How does a small-town lawyer become the money-man of choice for one of the largest companies in Russia?
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Vietnam:

Corporate Bankruptcy Legislation On Agenda
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