May 27, 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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Enron:

Enron Trials Will Challenge Jurors
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Enron Bonus Defendants Still Under Fire, Lose Motion for Summary Judgment
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Partial victory for Skilling in details about grand jury
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Law:

Gardere Partners Listed Among Top Business Lawyers
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Firm Boosts NY Office With Raid
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Summer Associates: How Many, How Much Money?
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Probe into Allen & Overy conflicts stalled?
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Bare knuckle conflicts
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How the courts are tackling electronic discovery issues
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How partners can convert the time spent trying to balance the books into time spent earning fees
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Weil Gotshal Adds Two High Profile Hires, Former EDS GC
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Firm Dumps Perot From Client List, Web Site
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Patton Boggs Loses Bankruptcy Lawyers To Greenberg Traurig
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Lawyer Fails in Bid to Oust Opposing Counsel Over Pregnancy
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Ready (or not) -- UK litigators unprepared for electronic documents
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Shearman scraps managing partner role
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Freshfields, A&O named UK's best managed firms
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Eurotunnel brings Weil Gotshal on board for restructuring role
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Clifford Chance posts 12.5% fall in profits
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California eases strict rules on whistleblowing conduct -- allows lawyers to whistleblow on clients for the first time
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Clifford Chance San Fran hit by its first partner departures
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After the Enron storm -- another breed of general counsel
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Companies adopt online auction for outside law firms
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The freedom to show butt cleavage will not be abridged
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King and Spalding grows New York arm with new names
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Judge removed for issuing arrest warrants he was too drunk to read
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Steel:

ISG president tells stockholders more acquisitions possible
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Severstal earnings to fall after purchase of Rouge
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Steel imports nearing pre-tariff levels
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Asbestos:

When Will Armstrong be Out of Bankruptcy?
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Businessmen Win $5M Against Citigroup On Promised Hedge
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American Plumbing & Mechanical, Inc. Announces Continuance of Plan Confirmation Proceedings
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Haynes International, Inc. Files Plan of Reorganization and Disclosure Statement; Disclosure Statement Hearing Scheduled for June 28, 2004
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Banks' Write-Offs for Bad Loans May Fall in 2004
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The Truth About Credit Consolidation
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Precision Tool sees July exit from bankruptcy
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In Connecticut, a Pension Fund Trial Could Shake Wall Street
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Supreme Court Sets Cram-Down Interest Rate at "Prime Plus"
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Heart Monitoring Firm Fizzles amid Financial Woes
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Retirees sue Monsanto over benefits
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Reducing Risk and Increasing Investment: How Credit Insurance Can Prevent Unnecessary Losses
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Telecoms:

Cable/phone company RCN Corp. files for Chapter 11
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RCN Forges Consensual Agreement with Creditors, Signs new Bank Deal with Deutsche Bank
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RCN Files For Bankruptcy, Sees Emerging In 4Q
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BCE to Buy Some 360networks Assets for C$275 Million
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U.S. Wireless Data Sheds Some Assets
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Regulators Approve NextWave Settlement Plan
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Test Set Forth for the Formation of an Equity Committee
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Airlines:

United Airlines boosts fuel surcharge to $30 per round trip
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Airzim Bus Attached Over $745m Debt
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Arrow, creditors come to terms
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Blackstone says hired by Delta Air for debt talks
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CIBC Wants Court Ruling to Withhold Air Canada Debt
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Hawaiian Airlines, Boeing Extend Lease Negotiations
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Corporate Reform:

Government says Rigases owed Adelphia $3.2 billion
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Last Govt Witness Details Rigas-Adelphia Dealings
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New York AG Spitzer has based his suit against former NYSE chief Grasso on a vaguely worded law
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Nonprofit Executive Pay Placed Under IRS Microscope

Ratings agencies endorse Tyco
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Boss departs with zillions, his enabler is lingering on
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SEC toughens mutual fund rules
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Accounting:

Hawaii Leads in Per Person State Tax Collections
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First Rite Aid Executive Sentenced in Accounting Scandal

The Battle for Iraqi Audits
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Asbestos:

Creditors seek more weight in OC case
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Ohio General Assembly Passes Asbestos Reform
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Energy:

PSC chairman holds Missoula meeting over future of power, NorthWestern's plan
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Weil Gotshal and Slaughters in Canary Wharf bid fees windfall
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Courts strikes down $26 million Benlate award against DuPont
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Grocer's brief run reaches final days
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Trump Casinos paying up
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Donahue Securities case snares two guilty pleas
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Still no ruling on Texas landfill bankruptcy case
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Vulture Vexes HealthSouth Holders
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Git-n-Go Chain Gets Cash for Holiday
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Indian Name Up For Auction
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Illinois Supreme Court lets Rosemont casino ruling stand
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Madigan loses casino appeal
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Judge To Estimate Amount Dave Thomas' Estate Will Receive From Wallace Bookstores
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Ventura Woman Pleads Guilty to Bilking Investors
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FBI terror task force probed credit card fraud case
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In 1993 more Americans filed for bankruptcy than received bachelor's degrees
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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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No Sanctions for Bank's Miami Lawyers
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How to Protect Yourself When Doing Business with Financially Distressed Entities
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Maryland lets "Geoffrey the Giraffe" off the hook
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Lehman raising $1bln for global buyout fund
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Fleming plan vote looms
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Emotional gathering at the annual Oneida Limited meeting
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Ponzi scams can pay off - for a few
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UK:

CGE withdraws power station offers
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Learn English bankruptcy reform lessons before changing Scottish law
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Dundee near end of administration
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Bankruptcy Bid Against Timeshare Swindler
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Bank's debenture did not create a fixed charge over a company's book debts.
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Argentina:

Argentina's Merval Index Rises on Debt Progress
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Italy:

Parmalat Prosecutors Seek Indictments of Tanzi
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Parmalat Total Financial Debt EUR13.7 Bln At April 30
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Prosecutors Seek 32 Parmalat Indictments
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Chile's Bethia seals purchase of Parmalat unit
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Accusations fly as Festival takes the final curtain
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Russia:

Yukos Told to Pay $3.4 Billion in Tax, Fines by Court
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Yukos To Be Broke?
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Yukos says it could be bankrupt by year-end
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Lawyer says ex-Yukos head jailing illegal
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Yukos May Sell Sibneft to Pay Back Taxes
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Did billionaire use investors' $40m to buy Fabergy eggs?
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Failed Bank Depositors Want Vekselberg's Eggs
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Bankruptcy launched on Independent Broadcasting Corporation
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France:

Deal near on bailout for Alstom
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Banks Negotiate Over Alstom Rescue Finance
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Australia:

KPMG insolvency team becomes 'corporate doctor'
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China:

Rewards for tip-offs on debtors
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Disbelief at Minsheng probe findings
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Korea:

South Korean debtors slowing down growth
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Competition For Korea's Hanbo Iron Reduced To Seven Bidders
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Japan:

Kanebo tumbles on report of hefty equity cut
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Vietnam:

Vietnam's National Assembly debates credit, inspection, bankruptcy bills
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