January 16, 2007 

Daily Bankruptcy News

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

Also available on the Web (with links to the news stories) http://bkinformation.com/News/DailyNews.htm
Prior editions: http://bkinformation.com/bankruptcy_news.htm
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Aviation:

Northwest seeks extension for bankruptcy plan
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Unions get OK to sell part of NWA claims
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Will the MAC cut Northwest a break?
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Cabin crew vote gives strong backing for BA strike
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Former top Swissair officials in the dock for Switzerland's biggest corporate trial
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Will the MAC cut Northwest a break?
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Alitalia ready for harsh Jan 19 strike to obtain say in privatization
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Law:

Law firm loses long name
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Sun's CEO on Lawyers
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Depression From Down Under
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4 bankruptcy lawyers leave Jenner Chicago for Winston
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Lawmakers are pushing to undo a Patriot Act amendment they say may be used to circumvent Senate confirmation of U.S. attorneys
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Michigan Law: Adultery could lead to life in prison
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Double-digit raises for in-house Canadian counsel
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Anonymous Lawyer
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Eight Steps to Transform the Law Firm
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Utilities:

Feelin' those electric blues
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Countryside Power, lenders to ponder distribution
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Health Care:

Two Troubled Hospitals Get New Lease On Life
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Nonprofit Hospitals and the Funny Money Game
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Almost Like Getting Your Teeth Drilled
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Credit Reporting:

Insurance companies under fire in consumer credit case
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Insurers, Consumers Clash at U.S. Supreme Court on Credit Data
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Student Debt:

Student loan debt increases as student aid decreases
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Investors Fired Up About Failed Coal Mines
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Down on their luck? That can be good - Distressed-investing conference looks at growing trends
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Autos:

Chrysler to cut 250 Detroit jobs
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Accounting:

Proposed capping of auditors'' liability could protect Big Four
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Two Deals Made in Tax Shelter Cases
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E&Y, KPMG, and the Meaning of Failure
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Real Estate:

Condo market in DC, Vegas, Miami and Boston has collapsed
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Foreclosure filings in NC reach all-time high
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Textiles:

Second company bids for Malden Mills
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Corporate Reform:

Ex-CEO of American Tissue serving 15-year term
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HomeGold CEO rose to the top but now faces charges
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New York subpoenas research firms, clients
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Activist shareholders, tougher rules, and anger over CEO pay have put directors on the hot seat
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Sports:

Excelsior asks court to drop NYRA's bankruptcy case
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Religion:

Diocese of Davenport real estate for sale
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Layoffs:

Pfizer chief may cut thousands of jobs
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Credit Cards:

As Card Fees Climb, Retailers Push PINs
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Tech:

SCO Group Denies Its Demise Is Imminent
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AMTROL creditors object to bankruptcy loan terms
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Winn-Dixie's outstanding shares: 54M
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Bank of America is pushing to raise the cap barring any bank from acquisitions that would give it more than 10% of the U.S.'s total bank deposits
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What Should a Potential Bankruptcy Debtor Do About a Potential Inheritance?
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New Bankruptcy Opinions
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Bankruptcy Court Web/Pacer Site Directory

Chapter 7, 12 & 13 Private Trustee Locator
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Recent Ch. 11 Filings
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Bankruptcy Jobs:

(1), (2), (3), (4), (5), (6), (7), (8), (9), (10), (11)
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Energy:

U.S. Energy Biogas Settles Principal Chapter 11 Issue
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The Trap
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UK:

Large-scale insolvencies have been largely absent from the UK market over the past few years
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Loan shark used machete over debt
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GNER hints at fresh bid for east coast route
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With the UK reluctant to recognize Chapter 11, Uncitral's new insolvency regulations will come as a fillip to the global market.
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Pension protection increase may force schemes to close
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325 jobs lost at Music Zone
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KPMG finds buyer for parcel business
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Many in the industry would argue that the UK would do well to look to the US insolvency system with regard to debtor liability
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Eurotunnel cheer after court backing
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Given the haphazard information available on Farepak's creditors, the fallout from the administration has seen the courts take a practical approach to the procedures laid out in the 1986 Enterprise Act.
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France:

French court approves Eurotunnel plan to cut £4bn of debt
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LeBoeuf lures Freshfields Paris bankruptcy partner
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Canada:

Charges stayed in fraud case against Prestige accountant
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Russia:

Russian prosecutors suspect foul play in Yukos co-founder death
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Italy:

Capitalia shareholder wants suspended chairman to resign
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Korea:

Nokia supplier Perlos to cut 4000 jobs
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