May 4, 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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Asbestos:

JT Thorpe emerges from bankruptcy
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Honeywell Had 75,123 Bendix Asbestos Claims At 1Q End
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Law:

Confirming a Split -- and Mulling a Merger?
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White & Case gains ex-Brobeck partner from Morgan Lewis
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Good news for jobless law school grads
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Temp Lawyers Find Permanent Niche In Legal Industry
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Lawyers Win Suit Against FTC Over Financial Privacy Notices
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Federal court rules against FTC on lawyer privacy notices
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Milberg Weiss Bershad Schulman LLP Announces New Management Structure And Office Expansions
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Firms Find Survival of the Fittest Is All Part of Life
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New Partners Add Capabilities in Bankruptcy to Saul Ewing's Harrisburg Office
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Law Firm Makes Its Own Case to Media
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Lawyers Try Their Hands at Business Rather Than Jurisprudence
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Milberg Weiss Becomes 2 Firms
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Economy:

Stocks climb; investors await Fed tea leaves
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Steel:

Leaner Georgetown Steel may reopen
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Georgetown Steel OKs $16 million buyout offer
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Georgetown mill creditor acts to stop spending
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Accounting:

One annual report down, another to go, before Peregrine lives in the now
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NRG seeks to replace PricewaterhouseCoopers
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El Paso Says Reserves May Have Been Falsified
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El Paso Probe Blames Some Employees
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Plante & Moran Finalizes Gleeson Sklar Merger
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Energy:

Bankruptcy Court Approves Reorganization Plan for National Energy & Gas Transmission, Inc.
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PG&E Corp. Reports First Quarter 2004 Financial Results
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Bankrupt S.D. Ethanol Plant Trying To Re-Emerge
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30 Fannie May stores to reopen
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Investigators given Jackson’s underwear from bankruptcy stash
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Nucentrix Chapter 11 Plan Confirmed
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RCN Continues Financial Restructuring Negotiations; Extends Forbearance Agreements
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Big loss weakens Trump Hotels; shares plunge
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  Airlines:

Union blasts Ottawa over Air Canada
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Air Canada Hasn't Sought Rule Changes, Govt Says
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Air Canada seeks court OK of new restructuring deal
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Alitalia flights normal, talks set
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US Airways CFO quits in time to get big severance deal
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US Airways tries to win over travelers in Philadelphia
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Some U.S. airlines are en route to financial crash, industry executives say
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More Europe budget carriers may go bust
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Airlines Struggle With Prospect Of Long Security Waits
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Future of Property at Airport Unclear in Great Plains Airlines' Bankruptcy
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Middle Class and Broke
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Telecoms:

Global Crossing Faces Few Fundraising Options
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Nasdaq threatens Global Crossing
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Global Crossing Hires 2 Firms; Gets Delisting Note
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Meltdown at Nortel
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What Telecom Recovery?
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Qwest Loses $310 Million in First Quarter
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Corporate Reform:

Quattrone Guilty in Obstruction Case
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In Quattrone Case, 'Nice' Prosecutor Wins
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Quattrone, Credible But Unconvincing
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Trial Judge May Figure in Appeal
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SEC to focus on hedge funds, proxy access
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US Insurers Respond to Sarbanes-Oxley Regulation

Pay cut for NYSE top execs
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Calpers Says Safeway's Board Departures Aren't Enough
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Adelphia Trial Scheduled to Resume Tuesday
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Status of high-profile scandals
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Judges Increasingly Impose Harsh Prison Sentences for White Collar Offenses and Reject Guilty Plea Agreements Viewed as Too Lenient
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Conseco asks judge to dismiss lawsuit by former CEO
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Hilbert takes aim at Conseco
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Jungle Media Gets Savoy
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Monsour pension checks frozen
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Tax on debtors?
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Cable TV Chiefs Say Ready to Shop for Deals
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Bees buzzing around Adelphia assets
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Developer pays $31 million in bankruptcy auction for Roddy Ranch golf, grass
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New Bankruptcy Opinions
(4 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings
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Weird News
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FTC Shuts Down Debt Firm National Consumer Council
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Number of Bankruptcy Cases in Northwest Ohio Sets Record for April
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Wisconsin Bankruptcy Filings Drop 3.6 Percent for First Quarter
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Home Sweet Windfall
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Fresh Farms faces liquidation hearing
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Pine Bluff City Council Approves Plan To Avoid Bankruptcy
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Eastern Pulp:

Bankruptcy Judge Allows Sale of Eastern Pulp and Paper to Connecticut Company
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Brewer, Maine, May Get Eastern Paper Mill Site with Bankruptcy Sale
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Texas Hospital Strapped for Cash
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UK:

Mason to take up reins again in creditors deal
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Taxing times as Inland Revenue cries foul
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E&Y avoidance scheme draws in Revenue
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Current Distressed Companies Update
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Corporate insolvencies in North East climb, but still down on 2003
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Estimates of over-indebtness should be treated with caution says new study
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Administrators appointed to European Furniture Brands Ltd
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Germany:

Germany sees record deficit
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Korea:

LG Card Normalizes Services
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Orion Electric Will Be Sold to Korean Investor
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Citigroup Raises Offer for Hynix Unit to $790 Million
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Banks See Rising Bankruptcy of Small Firms
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Italy:

Cirio: Geronzi Indicted Of Three Illegal Bankruptcy Charges
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Chile's Bethia group gets OK to buy Parmalat unit
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Nauru:

Nauru parliament deadlocked
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New Zealand:

Tighter rein on insolvency work
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Australia:

General Re gives back $27m
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Epic pipeline sale to run late
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