May 18, 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

         

Supreme Court:

Till v. SCS Credit (cram down interest rate):

Opinion
(DBN Subscription Required)

Merits Briefs: Petitioner, Respondent
(DBN Subscription Required)

Oral Argument
(DBN Subscription Required)

Court Rules in Favor of Consumer Debtors
(DBN Subscription Required)

Court Addresses Bankruptcy Questions
(DBN Subscription Required)

Consumers Win Top Court Ruling on Bankruptcy Debt Interest Rate
(DBN Subscription Required)

_______________

Tennessee Student Loan Assistance Corp. v. Hood (bankruptcy court jurisdiction):

Opinion
(DBN Subscription Required)

Merits Briefs: Petitioner, Respondent, Petitioner Reply
(DBN Subscription Required)

Oral Argument
(DBN Subscription Required)

High Court Rules Courts Can Forgive Student Loan Debt
(DBN Subscription Required)

NY Lawyer Wins Supreme Court Bankruptcy Case
(DBN Subscription Required)

Student debt, 11th Amendment separate
(DBN Subscription Required)

Supreme Court Affirms Hood
(DBN Subscription Required)

______________

________

Bankruptcy as strategy -- As the stigma fades, more troubled firms make use of Chap. 11 to deal with debt
(DBN Subscription Required)

Law:

Law firms descend on China to help safeguard trademarks
(DBN Subscription Required)

Wilmer Cutler celebrates merger with top NY hire
(DBN Subscription Required)

NY Lawyers Receive Layoff Notices
(DBN Subscription Required)

Top Firm Hires Former CSFB Counsel
(DBN Subscription Required)

Linklaters: average profits fall on unchanged turnover
(DBN Subscription Required)

UK firm smashes ceiling on associate salaries
(DBN Subscription Required)

Freshfields edges ahead of Linklaters in profits race
(DBN Subscription Required)

Professional indemnity cover is continuing to rise to astronomic proportions -- How partnerships are responding
(DBN Subscription Required)

Winnie the Pooh Judge Won't Step Aside
(NYT: separate free registration required)

Have you got the right stuff to be an equity partner?
(DBN Subscription Required)

Is conversion to LLP status a panacea for all risks?
(DBN Subscription Required)

Partnership - no longer till death do us part.
(DBN Subscription Required)

Partnerships are not just about individuals. The bigger picture is partnerships between law firms.
(DBN Subscription Required)

Cheating death
(DBN Subscription Required)

_______________

Corporate Reform:

SEC fines Lucent $25 million
(DBN Subscription Required)

SEC Charges 9 Lucent Employees with Fraud
(DBN Subscription Required)

Black Offered to Have Mediator Seek Settlement With Hollinger
(DBN Subscription Required)

Former Dynegy Exec's Sentence Looming
(DBN Subscription Required)

Scrushy takes on Sarbanes-Oxley
(DBN Subscription Required)

Some Questions on Fees Insurers Pay to Brokers
(NYT: separate free registration required)

Bill expands factors for corporate directors to consider
(DBN Subscription Required)

Judge OKs Leniency for Ex-Rite Aid CFO
(DBN Subscription Required)

Plea Deal Sets Up Cendant Testimony
(DBN Subscription Required)

Scrubbing out corporate scandal
(DBN Subscription Required)

Judge Upholds $1 Billion Fen-Phen Award
(DBN Subscription Required)

Judge upholds agreement protecting probe of Hollinger finances from Black
(DBN Subscription Required)

_____________

Telecoms:

New Jersey lifts ban on MCI
(DBN Subscription Required)

Allegiance Telecom Announces First Quarter 2004 Results
(DBN Subscription Required)

Shaky IGC loses $14 million
(DBN Subscription Required)

____________

Pillowtex asset sale begins in Mauldin
(DBN Subscription Required)

Court approves Oglebay's $305m debt facility plan
(DBN Subscription Required)

Adelphia:

Concealing Adelphia's woes was a 'relief,' ex-VP testifies
(DBN Subscription Required)

Time Warner Considers Bidding for Adelphia
(DBN Subscription Required)

Paul Allen resurfaces in cable waters
(DBN Subscription Required)

_________________

Eddie Bauer parent buys more time
(DBN Subscription Required)

Gadzooks FY03 Net Loss $62 Mln Vs $1.3 Mln
(WSJ: separate paid subscription required)

Spiegel sells Newport News unit to Pangea
(DBN Subscription Required)

 

Asbestos:

Wolin recused from hearings
(DBN Subscription Required)

Federal Judge Removed From Some Asbestos Bankruptcy Cases
(DBN Subscription Required)

Elliott Management Corporation Commends Third Circuit's Recusal Decision
(DBN Subscription Required)

Federal judge removed from some asbestos cases
(DBN Subscription Required)

Opinion
(DBN Subscription Required)

ABB's turnaround gains momentum with Moody's upgrade
(DBN Subscription Required)

_________________

The Power of the Bankruptcy Court to Enjoin Creditor Claims Against Nondebtor Parties in Light of 11 U.S.C. 524(E): In Re Dow Corning Corp.
(DBN Subscription Required)

Airlines:

Air Canada union won't budge
(DBN Subscription Required)

Air Canada, Auto Union Working Into The Night
(DBN Subscription Required)

Air Canada deal still leaves it short
(DBN Subscription Required)

CAW rejects Air Canada demands
(DBN Subscription Required)

Hargrove rejects Air Canada concessions
(DBN Subscription Required)

Air Canada concession demands 'too heavy'
(DBN Subscription Required)

Air Canada to Make `Final' Wage and Benefits Offer to Union
(DBN Subscription Required)

Air Canada Still In Talks With Key Unions Over Concessions
(DBN Subscription Required)

Air Canada Attendants Agree on Wage Cuts; One Union Remains
(DBN Subscription Required)

CAW union says it won't concede $10,000 wage cuts to Air Canada
(DBN Subscription Required)

Finmin to Rule on Air Canada Pension Soon
(DBN Subscription Required)

A great time to fly, unless you're a major airline
(DBN Subscription Required)

US Airways asks pilots for $300 million in cost cuts
(DBN Subscription Required)

US Airways' Regional Partners May Fly More In Latest Plan
(DBN Subscription Required)

BA chief warns airlines will collapse as fuel costs rise
(DBN Subscription Required)

Great Plains sees cash dwindle to $2,157
(DBN Subscription Required)

Hawaiian Airlines Fate To Be Known Soon, Strong Interest
(DBN Subscription Required)

________________

DT Industries To Be Delisted From Nasdaq May 24
(DBN Subscription Required)

Toys R Us 'Sales Stink', Stock Drops
(DBN Subscription Required)

Economy:

U.S. Stocks Fall, Led by Airlines, Retailers
(DBN Subscription Required)

Dow Closes Down More Than 100 Points
(DBN Subscription Required)

Dow falls below 10,000 on Iraq, inflation fears
(DBN Subscription Required)

U.S. Housing Starts May Have Slowed in April, Survey Shows
(DBN Subscription Required)

Jobs going offshore faster than estimated
(DBN Subscription Required)

__________________

Kmart:

Kmart turns a tidy profit
(DBN Subscription Required)

Symbols of excess are sold
(DBN Subscription Required)

_______________

Bankruptcy Prompts Some Gold's Gym Closings Downtown Dallas, Carrollton Gyms Close
(DBN Subscription Required)

U.S. judge allows sale of Rosemont casino license
(DBN Subscription Required)

Miami Vice star selling ranch
(DBN Subscription Required)

Don Johnson puts up Colorado ranch for sale amid bankruptcy and lawsuits
(DBN Subscription Required)

Restitution is ordered in "credit repair" case
(DBN Subscription Required)

Lacy tells Sears workers it's time to cut costs
(DBN Subscription Required)

Good news for fans of Ground Round
(DBN Subscription Required)

Paper company FiberMark reports huge loss
(DBN Subscription Required)

Judge in TSP case to rule Wednesday
(DBN Subscription Required)

Gosman: Stake in home granted for wife's sake
(DBN Subscription Required)

Texas Petrochemicals emerges from bankruptcy
(DBN Subscription Required)

Absent Executives Blamed in Closure of San Antonio Clothing Store
(DBN Subscription Required)

ATX creditors fire away -- The case, they argue, is being run for the benefit of management and secured creditor
(The Deal: separate paid registration required)

The wild tail end of housing boom -- Lenders are making riskier deals as the era of ultra-low interest rates begins to fade out
(DBN Subscription Required)

Owners of Insolvent Fla. Company Charged with $60 Million Theft, Racketeering and Conspiracy
(DBN Subscription Required)

Viatical firm's got cash
(DBN Subscription Required)

Receiver: Viatical firm has funds, 'duped' SEC
(DBN Subscription Required)

 

New Bankruptcy Opinions
(3 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings
(DBN Subscription Required)

Weird News
(DBN Subscription Required)

Robbing from Peter to Pay Paul to Pay Peter: Has Preference Litigation and the Policy of "Equality of Distribution" Run Amok?
(Martindale: separate free registration required)

Keystone Bank Civil Trial Opens
(DBN Subscription Required)

Kaiser Aluminum Signs Agreement to Sell Its Interests in an Alumina Refinery and Related Bauxite Mining Operation
(DBN Subscription Required)

Kaiser to sell Louisiana refinery, stake in Jamaica refinery
(DBN Subscription Required)

Kaiser loss narrows; closer to end of Ch.11
(DBN Subscription Required)

Energy:

City power group after NorthWestern hires consultant
(DBN Subscription Required)

Court OKs NorthWestern Chapter 11 Disclosure Statement
(DBN Subscription Required)

Judge tentatively approves NWC financial plan
(DBN Subscription Required)

Power coalition to hire consultant
(DBN Subscription Required)

Assembly passes bill to ban PG&E from paying bonuses with ratepayer funds
(DBN Subscription Required)

_________________

Land Swap Could Keep Sacramento, Calif., Port from Defaulting on Bond Payments
(DBN Subscription Required)

Two Former Executives of Collapsed Software Firm Hide from U.S. in Cyprus
(DBN Subscription Required)

Accounting:

SEC leads assaults on 'structured finance'
(DBN Subscription Required)

Turmoil in Iraqi Oil-for-Food Audit
(DBN Subscription Required)

____________________

A $2 million consolation prize in Bush Industries bankruptcy (scroll down)
(DBN Subscription Required)

Author talks up failure as a tool
(DBN Subscription Required)

Bankruptcy Court tries to go long
(DBN Subscription Required)

Implementation of the Debt Collection Improvement Act of 1996 and Adoption of Rules Governing Applications or Requests for Benefits by Delinquent Debtors
(DBN Subscription Required)

UK:

Revenue reveals new disclosure rules
(DBN Subscription Required)

Mayflower coach-making unit sold in MBO
(DBN Subscription Required)

Survival hopes fade for Bradford City
(DBN Subscription Required)

Extra money for SFO as part of fraud crackdown
(DBN Subscription Required)

Current Distressed Companies Update
(DBN Subscription Required)

___________________

Italy:

Bank of America Was Biggest Buyer of Debt It Sold for Parmalat
(DBN Subscription Required)

Parmalat Says Will Create New Company For Debt, Assets
(DBN Subscription Required)

Parmalat Revenue Falls To EUR1.58B As Of April 30
(DBN Subscription Required)

Parmalat proposes company for debt
(DBN Subscription Required)

Parmalat prosecutors aim for trial
(DBN Subscription Required)

_______________

India:

India's Gandhi faces crisis, stocks crash
(DBN Subscription Required)

Investors stunned
(DBN Subscription Required)

_______________

Australia/New Zealand:

Creditors to have last say on South
(DBN Subscription Required)

Creditors paying for bad law
(DBN Subscription Required)

______________

France:

Alstom's EU3.2 Billion Aid to Be Approved, Monti Says
(DBN Subscription Required)

Court puts Festival's French subsidiary into liquidation
(DBN Subscription Required)

______________

Philippines:

Court orders halt most of Nenaco fleet
(DBN Subscription Required)

_____________

Korea:

Hanbo Steel Under Investigation for Rebate Scandal
(DBN Subscription Required)

Founder of Bankrupt Hanbo Iron Vows to Repay Debts
(DBN Subscription Required)

______________

Japan:

Japanese GDP Grew at Annual 5.6% Pace in 1st Qtr
(DBN Subscription Required)

______________

Indonesia:

Govt, House Start Elaborating Revision Of Bankruptcy Law
(DBN Subscription Required)

_______________

Spain:

Terra Mitica moves closer to bankruptcy
(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