May 20, 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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Ponzi: You Won, Now Give It Back
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Enron:

Ex-Enron Exec to Plead Guilty
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Former Enron officer admits insider trading
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Employee Committee: Status of EFS/CMS, 11th Hour Bonus Litigation, and Stock Options
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Asbestos:

Judge removed from OC bankruptcy case --  Possible conflict of interest cited; delay of another year possible
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Sealed Air rtg not affected by court recusal news
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Assembly mustn't let asbestos bill perish
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Hardie arm loses asbestos claim
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Hardie admits fears on asbestos
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James Hardie says reputation hit by asbestos inquiry
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Former asbestos assets deprived
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James Hardie fights on in asbestos case
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Hardie dips in asbestos haze
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Ohio asbestos lawsuits bill is put on hold for now
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Asbestos ruling dampens BOC
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Law:

Raises in London May Foretell Genteel Pay War
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Shell legal director was in dark about oil plight
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Top UK law firms resist offering sweeteners to reverse threat of defecting rainmakers
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Companies use online auctions for outside law firms
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The pioneer who brought a M&A law firm across the pond and carved out an empire
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What in-house counsel want
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Federal Judge Decides Which Shareholders Can Sue for Collapsed Merger Damages
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Working With-or as-Local Counsel Requires Balancing Power, Expectations
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Piper Rudnick to Lease New Space
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Steel:

Big Steel Fabricator Is the Latest To Bet On Chapter 11
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Stelco monitor warns of liquidation if Lake Erie workers go on strike
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Stelco provides update on restructuring
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Corporate Reform:

Former Adelphia Exec Testifies at Trial
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Adelphia Defense Challenges Witness
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Will Market Bring Another Set of Scandals?
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Public and Private Cos. Reveal True Cost of SOX Compliance
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9th Circuit decision could restrict SEC's ability to freeze assets
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Sarbox Costs ''Unpredictable,'' Still Rising
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Stock Analysts Sweat Over New Test
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Martha Stewart's name survives and her company suffers
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Lawyers Fight Over Letter in Tyco Case
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Foot Locker Q1 Earnings Rise 26 Percent
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Bilzerian: At $2.55-million, a real steal?
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Entertainment Firm's Movie Studios in Foreclosure
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Agency takes over Archibald pension payments
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Airlines:

Air Canada and CAW set for last-ditch cost-cut talks
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Judge summons Hargrove, Milton to meeting
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Greenbriar eyes Air Canada
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Air Canada Says Talks With Last Union at `Impasse'
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Canadian Auto Workers: Deutshce Bank Hasn't Indicated Next Move
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Air Canada restructuring blow
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Air Canada future in doubt
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Air Canada declares 'impasse' with CAW -- Stops talks after 16 days of negotiations
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Ontario Teachers Pension Plan denies Air Canada interest; PR spins continue
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Union impasse puts Air Canada rescue deal in doubt
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AMR's Jet Fuel Costs May Rise 25 Percent From 2003
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Unions Pack American Airlines Meeting
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AMR, Southwest Meetings Show Sharp Contrast
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Carty eyes Air Canada
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Former AMR Chief Carty Ready to Finance Air Canada
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Delta low-fare carrier to give free tickets for being nice
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United, in the red due to fuel costs, raises fares
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US Airways CEO vows labor-friendly cuts
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Airline offers few details
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US Airways CEO: Survival top issue
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Airline Rejects Sell-Off Of Assets
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US Airways Wants More Concessions
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Accounting:

Ernst & Young Ban Could Signal Higher Audit Fees
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Firm Sues BDO Seidman Accounting Company in Miami
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A warning about credit-counseling services
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Moody's may cut DVI Fin'l Services lease deals rating
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Rose Garden to go to creditors
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Globe Metallurgical emerges from bankruptcy
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ACS Wins First of its Kind Public-Private Contract for Debt Collection
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Kroll Deal to Add Pennies a Share to Marsh's Earnings
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Kaiser's Mead smelter sale gets nod but no restart
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Teachers Group Sues Regal Over Special Div
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Denver: Investors tell of their losses at financial adviser's trial
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Prosecutors add bankruptcy fraud charge against East Cleveland mayor
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Mortgage Applications Drop as Home Buying Slows
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Buyout Firms Emerge As Bidders For Bauer
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Graves Wins Mag Bankruptcy Auction
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Garden Ridge case stays planted -- The crafts retailer prefers to be in Wilmington rather than Houston
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How Lenders Keep Score
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No Mistakes Please! When Your Customer Files Bankruptcy, Take Action
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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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Weird News
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Global Crossing gets 100 million dollar credit line from ST Telemedia
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Illinois Calls Off Casino Probe
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Emerald's win may hurt Rosemont casino's chances
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Madigan objects to some casino investors getting money back
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Boots & Coots: Oil Price Beneficiary?
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Man found guilty of massive Znetix fraud
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Energy:

State bird-dogging utility's bankruptcy
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Changes ordered to NWC disclosure
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Trico Marine Services Considering Sale of Assets to Trim Debt
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Crutch of Cheap Credit
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Telecoms:

Heading South At Nortel
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Turnaround for General DataComm
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Companies From All Walks Of Phone Industry Abandon Talks
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Telecommunication Products Announces Eagle West Communications Approved for Acquisition by Bankruptcy Court
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Creditors Committees: To Serve or Not To Serve? That Is a Question Worth Thinking About
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Further recovery ratings planned
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UK:

More flee to bankruptcy
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As Eurotunnel dug itself a hole, its shareholders took a stand
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Spain:

New Insolvency Law Shows Benefits for Spanish Covered Bonds, but Post-Insolvency Access to Liquidity Still Under Analysis
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Canada:

Imperial PlasTech announces transition to new management
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Court of Appeal Empowers Trade Unions on Receiverships and Bankruptcies
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Russia:

Injunction Buys Yukos Time, But Clouds Remain
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A breather for Yukos in tax fight
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Jailed Tycoons Circle Wagons
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$1Bln of 'Suspicious' Sodbiznes Deals
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Russian Wins Ruling In European Court
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Italy:

Italian May Consumer Confidence Falls to 10-Year Low
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Japan:

Nissan Diesel Points to Insolvency Risk
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Korea:

Manufacturing Loans Falling
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Small Firms Sell Up, Move Offshore
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