May 6, 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

         
Adelphia:

Comcast, Time Warner May Make Joint Adelphia Bid
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Cox May Try For Some, But Not All, Of Adelphia
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Law:

Bankruptcy Partner Jumps to NY Firm
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Liability caps on individual engagements will take off, but at what price?
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Kirkland strengthens debt arm with Weil hire
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Benedict Quits As Clifford Chance Litigation Head
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Partners predict bigger in-house role
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Pa. High Court Adopts Rules Allowing Multistate Practice
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Pillsbury suffers second round of lawyer defections
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Asbestos:

Owens Corning posts first-quarter profit
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Flintkote files for Ch. 11
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Veterans deserve an asbestos bill
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Telecoms:

McLeodUSA loss widens, moves to conserve cash
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Broadband Wireless International Closes Bankruptcy
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Bankruptcy Court Confirms Swiftcomm Bankruptcy Plan
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Nucentrix wins plan confirmation
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Accounting:

Watchdog starts auditor reviews
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KPMG forced to halt Iraq work
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Complex Consumer Choices Stump Seniors
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Court clerk convicted of bribery
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A dearth of money skills
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Calif. credit repairer hit with FTC suit
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CashPoint creditors left to wait for payment
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IRS offers leniency in tax shelter scam
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Marvin's IGA Seeks Bankruptcy Protection
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Assets: Unwanted Stuff Finds Online Market
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Solutia's CEO to Retire at End of Month
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Solutia's CEO, CFO Departures Stemmed From Talks
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Fueled by fraud? -- How an ex-stripper and a banker built and quickly lost a dream race team
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Exide Technologies emerges from Chapter 11
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Parties Say Watertown, N.Y., Nursing Home's Bankruptcy Talks Making Progress
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Banks ask judge to protect Cooker assets
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No Clear Winner as Bradley Trial Wraps Up
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Bankruptcy filing of Nebraska pork producer could jolt rural economy
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Hog giant collapse may hurt state
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  Airlines:

Talks to save Alitalia on final runway
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Alitalia totters on the brink of collapse
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Alitalia—Airline To Divas & Popes—Flies To Sunset
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Alitalia unions propose savings
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Alitalia Rescue Plan May Mean Setback for Berlusconi (Update1)
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Italy plays down Alitalia administrator talk
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United chief makes case for loan
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United Air Apr Traffic Up 26%; Load Factor 79.9% Vs 71.4%
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Air Canada net loss widens
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Air Canada cleared for exit
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Trading continues in 'worthless' stock
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Judge okays Air Canada deal with Deutsche Bank
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US Airways aims to drop Pittsburgh hub
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S&P cuts US Airways ratings, outlook is negative
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US Airways downgrade threatens big aircraft deal
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US Airways to Decrease Operations
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This dogfight could be won or lost at the margins
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Fourth investor group submits Hawaiian Air bankruptcy plan
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Carty to chat about Hawaiian Airlines on TV
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Hawaiian audit released
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Europe's Airlines Face Choppy Skies
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Crisis looms for no-frills airlines
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Atlas Air Op Chief Quits To Be United's Cargo Pres
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Enron:

Lea Fastow scheduled to plead guilty today
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Steel:

Remaining creditors sign off on Weirton deal
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Not all residents happy over bid to buy Georgetown steel mill
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Stelco applauds ruling against insolvency challenge
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Corporate Reform:

Martha Stewart Rebuffed in Bid for a New Trial
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Jurors, experts talk about Tyco, Stewart cases' hits and misses
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Adelphia Lied to Its Lenders, Exec Says
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Penn Traffic losses decreased in March
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SEC Alleges Real Estate Investment Ponzi Scheme
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Ship's troubles strand crew
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D&O clients still suffering in hard market conditions
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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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Trump rolls dice with his casinos
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Trump Hotels risks missing $73.1 million interest payment; Tycoon's Atlantic City gamble nearing bankruptcy
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Offshoring Begins to Reveal Hidden Costs
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Agency Bars Buffalo, N.Y.-Area Law Office from Collecting Debts in Maine
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Energy:

Cities discuss bid for NorthWestern utility assets
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Parmalat USA gets extension
(The Deal: separate paid registration required)

Section 502(d) Does Not Preclude Actions To Avoid Allowed Claims

Solvent Debtor Cannot Avoid Paying Default Rate Interest by Filing for Bankruptcy

UK:

Legal head sounded Claims Direct alarm
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British Energy shares fall 20% as investors take fright on administration warning
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House prices soar by 19.1% but fears of crash intensify
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Firm staff lock out administrators
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NTL recovery on track
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E&Y sought legal advice before taking on Leeds
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Eurotunnel's sombre 10-year party
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How to tackle Britain's household debt crisis
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It's More Than A Tiny Blip In Their Careers...
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Welsh insolvency cases on an upward curve
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Mayflower investors turn on Deloitte
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Troubled firms cannot afford to do nothing
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Argentina:

Argentine Crash Had Non-Economic Causes: Ex-IMF Chief
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Australia:

Sex-change woman facing bankruptcy over court fight
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Iraq:

Creditors club set up for Iraqi debt
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Russia:

Fitch Warns of Risks on Bond Market
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Israel:

Five people petition High Court to end debtors' prison
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Nauru:

NRI to rescue tiny nation Nauru from bankruptcy
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Japan:

Mitsubishi seeking billions
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