September 2, 2004 

Daily Bankruptcy News

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

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Enron:

Enron Broadband Trial Delayed Until Next Year
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5 Enron Defendants Want to Delay Trial
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Ex-Enron chief Lay says case "reeks of politics"
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Ken Lay: The Politics of My Trial
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Enron Agrees to Sell CrossCountry Energy For $2.45 Billion to Venture
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Enron Seeks Indemnity Under Crime Loss Policy -- The Complaint
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Enron Announces Sale of CrossCountry to Southern Union/GE Joint Venture for $2.45 Billion
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Corporate Reform:`

Despite defense, Black unlikely to be unscathed from scandal
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Hollinger Intls audit team had 'lack of warnings'
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Lord Black and his gang plundered Hollinger daily
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Are criminal, civil charges next?
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Steel:

Stelco to sell Montreal wire products mill Stelfil as part of restructuring
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Bush, Kerry troll for steel workers' votes
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Legal group argues church shouldn't pay punitive damages in lawsuits
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National Benevolent to transfer operations on NBA Gateways
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Churchill Downs back in Fair Grounds talks
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Churchill might still be in running for Fair Grounds
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Churchill Downs reaches deal to buy track
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Churchill Downs Incorporated Agrees to Terms With Fair Grounds Corporation, Horsemen
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Court Approves $786 Million Sale of Horizon Natural Resources to Wilbur Ross Group
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Credit survey: growing debt sapping economy
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Bankruptcy Adds New Vistas to Real Estate Landscape
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Television glass-maker Techneglas files for bankruptcy
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Kaiser Group Announces Resignation of John T. Grigsby, Jr. as Chief Executive Officer
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When Debtors Are Joined at the Hip -- Tangled Relationships May Trigger Substantive Consolidation
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Kroll Break-Off Form New Boutique
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Putnam Joins Loan Buying Frenzy With A New $50 Mln Fund
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Recent Going-Concern Statements
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Man pleads guilty to bankruptcy fraud
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Phone company SunWest moves to protect assets
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Pension Fix Studied ; White House Looks at Options to Deter Ending United Plans
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Bankruptcy AZ firm's owner removed as 401(k) plan trustee
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Thanks to bankruptcy courts, killing a competitor outright gives him a chance to return, cleansed of debt and unburdened of past mistakes
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Dan River widens loss to $27.2 million
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Choice One requests delay in debt payments
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Diocese headed for bankruptcy
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What bankruptcy filing would mean
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There's Gold In That There Dead Air
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Airlines:

Delta, pilots start talks on pensions
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Delta extends consent solicitations
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Wage Talks Split US Airways Union
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US Airways Pilots Close To Contract Agreement
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Delta renews request to change lending agreements
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If higher air fares won't stick -- and apparently they won't -- the next move for the airlines has to be cutting service, starting with small cities.
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Airline will cut jobs, costs by $625 million
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 Continental signs union agreement
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Ranch Capital has "leg up" in bid for Hawaiian Air
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Cyprus Airways suffers heavy losses in first half of 2004
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Asbestos:

Owens Corning, banks in settlement talks on top executive pay
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Law:

Linklaters Bags Second New York Partner
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What strategies law firms are employing to gain maximum benefits from email marketing
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Matthews and Branscomb Attorneys Join Cox & Smith
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Two of San Antonio's top law firms finalize agreement
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A name that lasts almost as long as the race itself?
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Preston Gates & Ellis names woman managing partner
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Lawyer to head industry group
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Too distracting :)?
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Say cheese
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Divine advice
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Buggering a cat?
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Managing partner elections are now the usual way of selecting the head of a firm, but are they the best?
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Media skills required of in-house counsel
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Economy:

The largest U.S. companies plan to increase hiring and capital spending in the months ahead.
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Europe Follows US to Cut Bankruptcy's Stigma
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Keith Walsh Named First Public Interest Fellow in Consumer Bankruptcy Law and Financial Literacy
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Appraisals Are Key to Unlocking Real Estate Value
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Moody's downgrades IBC's senior ratings
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Bankruptcy filings on the rise in Missouri
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WARNing: Shareholders May Be Liable for Violating Act
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Acclaim bankruptcy now official
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Edwards Promises to Spread U.S. Wealth
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Planet Hollywood Group Takes Over Aladdin Casino
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Women's Y in Phila. files for Chap. 11
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Prosecutor alleges perjury in Gardner bankruptcy case
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Track seeks end to contract -- files to reject horseman's agreement
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Dispute Flares at Vernon Downs
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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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Hope remains for bankruptcy reform
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More apply for credit; collections grow
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Tobacco Road convenience store chain owner accepting bids
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Large Commercial Insurer Insolvencies Spark State Legislatures to Reform Guaranty Funds
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Accounting:

FASB Rule Could Force Write-Downs
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UK:

Indemnity clause in contract with third party takes precedence over other creditors' claims
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Many have been tempted to wash their hands of student debt
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Extra time provided by new U.K. laws can save companies from bankruptcy
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British Energy to split into three parts in turnaround plan
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Brussels to back British Energy bail-out plan
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U.K. Insolvency Reforms Affect Landlord/Tenant Relations
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Restoring companies to the register in the context of personal injury claims
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Students face debt poser
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Italy:

Fiat appoints new managers in turnaround effort
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Canada:

Questerre Updates Corporate Restructuring
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Japan:

Daiei's Banks to Meet Takagi to Press Him to Accept IRCJ Aid
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Daiei, Japan's one-stop 'zombie' shop, faces a closing down sale
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Daiei's Aug. Same-Store Sales Seen to Have Fallen 6 Pct
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Japanese regulator urges banks to shed bad loans
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Canada:

Microtec Enterprises Inc. Announces a Forbearance of the Payment of its Credits Facilities
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Bid process extended for Denninghouse Inc.
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Groupe Bocenor Inc. Announces Closing of Refinancing
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Mexico:

Boom in Mexican individual home loan securitizations
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Australia:

Pan Pharmaceuticals: Selim sneaks up on regulator
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Italy:

Parmalat Rejects $91 Million in Claims of AIG, Cigna, Principal
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India:

Let failed companies fail
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