November 16 , 2004 

Daily Bankruptcy News

Brought to you by BKINFORMATION.COM - The Source for Business Bankruptcy Information on the Internet 

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Highest court won't hear Kmart critical vendor case
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Asbestos:

UK challenges T&N Chapter 11 plan as US awaits judgment
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Compensation culture is a myth - ask the thousands who will die this year from asbestos
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$99 million accord with IRS approved by judge for OC
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The civil action
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Grace plan includes asbestos fund
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W.R. Grace shares fall, plan filed without consensus
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Worker Wins $3.75M In Asbestos Case
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James Hardie Willing To Provide Asbestos Claims Funding
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James Hardie foundation saved
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USG creditors ask for court OK to file reorg plan
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Sen. Specter's Critics Turn Fire on Tort Reform
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Telecoms:

WorldCom players in fee heaven
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Global Crossing posts loss; revenue falls
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Steel:

Deutsche Bank's Stelco rescue would give it half
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Deutsche Bank break-up fee angers Stelco investors
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Shareholders would need to pay premium for new Stelco shares in new plan
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Stelco Shareholder Unimpressed With Deutsche Bank Bid
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Stelco's dance card getting crowded
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Corporate Reform:

Many Big Brokers Still Taking Contingent Commissions
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Munich Re Says US Unit Gets 2 Subpoenas In US Insur Probe
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S&P Says Four Insurers Distorted Statements
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Senators Press for SEC Enforcement of Whistle-blower Law

Ace Faces Subpoenas From SEC, Spitzer In Insurance Probe
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SEC Charges Black with Fraud
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Suspended Merrill analysts cleared
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SEC May Delay Rule for Small Companies
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SOX Spending to Reach $5.8 Billion in 2005
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Former Prosecutor Says Feds Focus On Big Game Hunts
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Catholic Dioceses:

Bishops choose leader
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Kicanas will stay, not head bishops
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Diocese urges rejection of suit
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Bishops' new leader hails from scandal-ridden diocese
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Bishops look to leader from debt-ridden diocese
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Church's lingering scandal
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Solutia, Geo move on bankruptcies
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FTC targets Massachusetts-based debt services firm
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Ideal Accents Chairman, CFO Resign From Company
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Personal bankruptcies remain stuck in a year-long track that has kept them about 3 percent below last year's volume
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There's concern over bankruptcy auction of online commerce patents
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American Express Suing Card Companies Over Antitrust Violations
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Enron:

Enron's legal tab nears $1 billion
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Airlines:

United flight attendants threaten strike over cuts
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Crunch time for labor negotiations at United Airlines
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ATA loan from state, city gets judge's OK
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US Airways maintenance facility may be getting ax
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Airline still hiring
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FAA faces challenges of ageing computers and staff
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Fuel costs 'still may trigger Delta bankruptcy'
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Delta Hedging Its Bets on Debt Swaps
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Milton wants to ease customs' woes
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Air Canada looks for used planes
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Independence Air's shares take flight
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Turbulence at FLYi
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Global treaty aims to reduce risk of investments in jetliners
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Study finds longer layovers from airline cuts
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Singing the fuel blues
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Southwest Circles Wounded Rivals
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Law:

Rethinking the Hours
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Dechert closes in on Times Square
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Inside Man -- The Next AG
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NY Bankruptcy Associate Makes Partner
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DaimlerChrysler shuns London -- Motor giant's legal chief blasts London service
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ING to London firms: don't worry about conflicts
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Malpractice Suit Against Firm Moves Forward in NY
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US firms race for top London spots in image overhaul
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Milbank flexes its muscles in Middle Eastern power sector
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NY Firm Ordered to Pay Ex-Associate's Legal Bills
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Firm Names 31 New Partners
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European dissatisfaction prompts White & Case remuneration review
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A case study in how not to merge in Germany?
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Cabnapped
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Akerman Senterfitt names exec
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Firms Roll the Dice in Vegas
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Legal Expenses on the Rise
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The death of a founding father of America's securities law
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Merck Knew Vioxx Was Unsafe By 2000
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N.Y. Lawyer Sues 'Law & Order' For $15M
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Conn. Law Firm Faces Probe Into Missing Mortgage Funds
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Bush Seeks Limit on Malpractice Jury Awards
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Judge Found Guilty of Keying Car
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Toyland finding kids a tough sell
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Trump Buys Florida Mansion In Bankruptcy Auction
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Delay in Interstate Bakeries hearing hints of resolution
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IBC bankruptcy judge postpones hearing
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EDS Loses $153 Million in Third Quarter
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Tracking bad checks just got harder
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Footstar Inc Files Ch 11 Turnaround Plan
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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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Toy train maker Lionel files for bankruptcy protection
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Huge PBGC deficit blooms
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Deficit now $23.3B at pension agency
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Accounting:

Tax Overhaul to Have Winners and Losers
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Firms Are in For a Surprise On Outsourcing
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Bush's Tax Plan Echoes His Texas Plan
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Fannie Mae Shares May Fall After Missing SEC Deadline
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Auditor refuses to OK Fannie Mae's results
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Fannie Mae estimated it will have to post a $9 billion loss if the SEC finds it has been accounting improperly for derivatives
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Morris: Studying HomeGold financial reports "not my job"
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A 'Perfect Storm' of Policy Decisions Potentially Threatens the Option of Declaring Personal Bankruptcy for Consumers in Most States
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Life dreams pull couple closer to a reckoning with red ink
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Adelphia Creditor Ups Ante; Skeptics Question Valuation
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Rattner sees clear Adelphia winner
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Recent Going-Concern Statements
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Pension insurer says its deficit has doubled
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Bush Industries back from bankruptcy
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Bankrupt contractor leaves Palomar College with fractured project
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UK:

Ashurst concedes to BLP on Henlys restructure after creditors call in company doctor
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Lords overrule Three Rivers decision
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There is no cure-all for the pensions crisis, but giving the employer control is a positive step
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British TV-in-court premieres
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Just Add Monsters surfaces as Ninja Theory
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Oldest Welsh club on brink of bankruptcy
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Thus blames US bankruptcy rules for first-half losses
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India:

General Motors's Daewoo India Purchase Delayed Because of Debts
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GM in talks with creditors to buy Daewoo plant
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Korea:

Creditors Sue Daewoo Construction to Repay $530 Mln
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Germany:

KarstadtQuelle to receive 1.75 bln eur syndicated loan from banks
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Mexico:

Mexico's Ahmsa Says Banamex Must Return Shares Or Pay
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Italy:

Parmalat Nov 18 Creditors' Ruling Delayed
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Former Sanpaolo heads deny responsibility in Cirio bankruptcy
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Russia:

Russian roulette: Reducing uncertainty in bankruptcy system
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Putin Allays Fears of Company Tax Probes
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