October 7 , 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) http://bkinformation.com/News/DailyNews.htm
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Airlines:

United to fly the friendly Asian skies
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United Air Cuts Domestic Capacity 12% - 'Finally'
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United U.S. Cuts To Cause Layoffs
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United blinks first, will cut domestic capacity drastically
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More turbulence ahead -- US Airways workers could face a 23% pay cut -- or much worse
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Rising fuel costs worsen outlook, airline says
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US Airways To Seek Court-ordered Pay Cuts
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Today marks showdown time for US Airways
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US Airways Goes To Court Today
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US Airways in Chapter 11: What should you do with your miles?
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Pivotal airline faceoff today
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Alaska Air Group estimates severance costs
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Struggling Delta hires international marketing firm to help image
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Delta talks to resume
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US Air Engineers OK Labor Pact To Save Co $4.2M
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Brazil's Vasp Airline Faces Bankruptcy Petition
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Aircraft companies call for Brazil's Vasp airline to file bankruptcy
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Air Canada traffic sets September record
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U.S. airlines drop unprofitable routes in realignments
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Move to keep defunct airline-ticket law in place
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Liquidation looms in Great Plains' bankruptcy
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Asbestos:

Senate's Daschle Seeks Asbestos Fund Road Map
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Judge rejects Oglebay reorg
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New Madison County asbestos judge tosses out 3 lawsuits
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Oglebay Norton's bankruptcy bid rejected
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Judge backs OC in ruling on creditors Banks' effort to lay claim to subsidiaries is rejected
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Plaintiffs seek bankruptcy judge's recusal
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Corporate Reform:

Governments around the world are getting wise to the problems of fraud
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Former Peregrine Executives Charged With Accounting Fraud
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Moody's sees gaps in US, Canadian corporate reform
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Four Former El Paso Traders Accused of False Reporting
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Democrats, Fannie CEO Protest Release Of Executive Pay Data
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Fannie Mae's Raines Disputes Report From Regulator
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Investigators Now Looking At Fannie Insider Sales
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Ex-Fannie Mae accountant said he alerted bosses
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Number of Executives Who Want to Become CEO Reaches All-Time Low

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Bankrupt baseball team owners get case delay
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Utah seeing decline in bankruptcy filings
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Twinkies maker's Chapter 11 hopes rest on new CEO
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Youbet.com in American Wagering race
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Pizza, doughnut franchisor Afton Food Group gets extension of court protection
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THQ acquires rights to 'Juiced' game
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Court Confirms Trustee Ch 11 Plan For Coram Healthcare
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Toy manufacturer lays off 800 employees and says it will file for bankruptcy
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Judge rejects Maxim's prepack plan
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Law:

Spot the Litigation Trends
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ABA Panel Proposes Changes in Gift Rules for Judges
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Clifford Chance to draw up plans for weighted partner pay
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CBS Document Debacle at Issue in Texas High Court Race
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S&C bonus kickstarts pay pressure
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Shifting From Solo to Firm Life
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Morgan Lewis Boosts London Practice
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Number of UK lawyer trainees hits an all time low
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Confusion over DLA/Piper vote date
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Skadden regains lead in US M&A league
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Shearman loses third in Germany
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Business confidence plateaus despite healthy growth forecasts -- 90% of top lawyers believe fee income will rise, with 53% predicting double-digit growth
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Wilmer Cutler hikes pay in post-merger review
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Testa Hurwitz Shakes Up Senior Management
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Raindrops on roses and profits for partners
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Chicken suits
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Amber's cheap perfume
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Salary levels are slowly beginning to rise again after the recent downturn, but there is still a clear differential
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Client relationship management systems are becoming a way of life for law firms
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Law firms remain at the starting line in CRM technology
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Responsibility for insuring directors and officers is increasingly falling to heads of legal in small and medium-sized companies
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Accounting:

Banks face costly IAS17 snub -- banks will lose billions
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Smaller accounting firms jump for new clients in corporate-reform atmosphere
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IRS to Look at Executive Compensation at Nonprofits, Charities

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Twinkie turnaround hinges on unanswered questions
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Government agency bails out more Kaiser pensions
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Groups from 10 parishes ask Davenport diocese bankruptcy meetings
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Archbishop addresses abuse at Southern Oregon service
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HLM, creditors battle over offer
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Ailing teen magazine YM to shut down at end of year
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Schlotzsky's franchisees lose committee bid
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Chi-Chi's wants higher payout
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FBI: Mortgage Fraud Up 75% This Year
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Wet Seal sees quarterly loss deeper than estimates
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MatlinPatterson closes No. 2 distressed fund at $1.66 billion
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Kaiser Aluminum signs intercompany settlement
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Penthouse founder faces naked truth
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U.S. Small Business Administration Increases Borrowing Fees
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Credit Default Swaps: Who's Doing What?
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New Bankruptcy Opinions
(3 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings
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Weird News
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Enron:

Ex-treasurer says lies were rewarded at Enron
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Ex-Enron treasurer Glisan given immunity
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Bankruptcy Judge Tells Calif Atty Genl To Drop Enron Suit
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Jailed Ex-Enron Exec: Merrill Deal Bogus
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Group finishes Horizon purchase
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Horizon Union Will Pick Up 6 Months Of Health Care
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Former Horizon mines shut down; union vows a strike
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Telecoms:

Hillary focuses on Norvergence probe
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Choice One Communications Files For Chapter 11
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AT&T will likely cut 6,000 workers
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Steel:

Steel Prices May Be Crushing Smaller Automotive Suppliers
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Stelco plan to sell assets `doesn't make sense'
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Union complains of being left out of key decisions in Stelco restructuring
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Ormet Strike Looms
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Recent Going-Concern Statements
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UK:

'Bumpy landing' for UK housing market
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Korea:

Bankruptcies on the Increase
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Argentina:

Argentina Cablevision Debt Case Moved To US District Court
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Canada:

August data still points to another bumper year for bankruptcies
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Poland:

Will Ukraine's ZAZ offer ailing FSO a financial tow?
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Italy:

Intesa's Nextra Offers EUR160 Million To Settle Parmalat Dispute
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Parmalat wins first bank settlement after scandal
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Parmalat Annuls UBS Euro Trades Worth EU241.6 Million
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Parmalat has no 'hidden treasure'
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Italian judge begins review of Parmalat
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Japan:

Japan FSA Files Criminal Complaint vs UFJ Bank
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Top execs of Daiei, UFJ to meet Fri. on Daiei's rehabilitation
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South Africa:

Unions oppose rules on liquidators
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Russia:

Yukos still faces tax woes
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