December 11, 2003 

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

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Airlines:

$9.15 mil bid gives Mesa Air Midway assets
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Second bidder emerges for Midway Airlines' assets
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Hawaiian pilots cry foul
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Parked planes have potential to fly again
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US FAA Reauthorization Act to Enhance Airport Credit Quality
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Midwest Airlines Chief Financial Officer Resigns
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Continental says thanks a hundredfold
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Lufthansa threatens to bolt Air Canada
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Cerberus takes final shot at Air Canada
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Cerberus submits new offer to Air Canada in hopes of bumping Victor Li
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Fight for control of Air Canada heats up
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Air Canada settles pension fight with Jazz workers
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Air Canada traffic falls in November
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Second Circuit Gets New U.S. Trustee
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FAO:

From Fad to FAO
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Toy man makes play for FAO
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'Mr Fad' may buy FAO Schwarz stores
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Inventor of fad toy wants FAO, but not all, and not yet
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FAO, Inc. Retains DJM Asset Management to Dispose Of 89 Zany Brainy Leases
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FAO Hires A Liquidator
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Enron:

Batson files for immunity from all Enron subpoenas
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Enron unit sues Reliant for $85 mln
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Corporate Reform:

AG Strikes Again
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Junk bond funds may be next focus of scandal probe
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HealthSouth Judge Sentences Five Executives in Fraud
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NY's Spitzer may sue bank regulator over exemption
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Mutual Funds' "Systemic Problem"
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First sentences in HealthSouth case are light
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Ex-Bank of America Analyst's Misleading Picks Disclosed
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CART's '50-50' status clouds future of Denver Grand Prix
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Mortgage credit risk at three-year low
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The assets of the Big Bear supermarket chain continue to dwindle
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Big Bear owner plans liquidation for 67 stores
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DIP Dimensions: Gingiss Group Inc.
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Bankruptcy Judge Allows Sale of Zinc-Recycling Plant in Palmerton, Pa.
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CH2M lands J.A. Jones unit
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Corporate recidivists find a home in bankruptcy
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Outsourcing Solutions Emerges from Bankruptcy
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Judge Expresses Doubts about Struggling Art Foundation's Proposal to Move to Philadelphia
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Could it all melt away?
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Financially Strapped Hospital Halts ICU Services
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Deaconess chief stays in charge
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Agway looks to auctions for needed cash
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Cleveland: Bankruptcy court wiped out debts for Onunwor, wife
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Federal Credit Legislation May Preempt State Privacy Laws
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Clients may force Baert bankruptcy
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Bankruptcy judge clears way for sale of French, AG hospitals
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  Telecoms:

New challenge for Global Crossing
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Bank Sues Ex-Global Crossing Executives
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Gladly back from the brink
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Radiant Networks put into administration
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Lightyear sale faces challenge
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Court OKs $25M Interim Loan For Cable & Wireless USA
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Energy:

Clash of the Titans: Bankruptcy Court Takes On FERC
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Pacific Gas and Electric Company Makes More Than $77.2 Million in Property Tax Payments to California Counties
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Seitel auction delayed
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Former Nicor Energy Executives, Lawyer Indicted
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Law:

Sullivan & Cromwell Announces Bonuses
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Legal Research And Back-Office Work To Go Offshore Next
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NY Firm Seeks to Block Other Lawyers From Sharing Fees
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Firm Names New Leaders
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Fried Frank/S&C match Cravaths bonus
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Pennie & Edmonds to Close Doors by Year's End
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Not So Fast on Firm Merger
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Santa still exists – at least if you’re an associate in New York
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Firm to axe 65 lawyers
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Cadwalader Names Nine New Partners
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N.J. High Court Committee Looks at Lawyers' Marketing Techniques
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Law firm to remain downtown / Hunton & Williams to spend 10 more years at Riverfront Plaza
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EU rejects in-house privilege push
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Law firm IT departments face an ever more difficult task in making sure their lawyers stay connected
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Steel:

Chief of troubled Georgetown Steel resigns
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Weirton temporarily laying off 250 as union talks continue
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Judge Approves Incentive Plan for Key Workers at Youngstown, Ohio, Steel Firm
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Judge now in control of Republic assets sale
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Tobacco:

Philip Morris Wants $10B Verdict Tossed
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Philip Morris outlines grounds for 'lights' appeal
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Philip Morris Says Payment to States Safe
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Asbestos:

Judge's tactics leave him snared in tangled web of asbestos cases
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Asbestos liabilities driving up tort costs: Study
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S&P reports on U.S. commercial insurance industry
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Dow Corning hires first female CEO
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SIPC: Phony Brokerages Tips
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Houston DA seeks special unit to investigate ID theft
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Lone Star Seeks to Purchase TXCC
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Warnaco Announces Additional Restructuring Initiatives
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Rochester: Lender delays taking action on Inn on Broadway bankruptcy
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The Molokai company lists $10 million in unsecured debts
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Coffee grower in bankruptcy
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Spiegel receives more time to file statements
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New Bankruptcy Opinions
(3 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Bankruptcy Bill Passes House, But Stalls in Senate -- Likely To Reemerge Next Year
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Farm Bankruptcy Protection Law to Expire
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Letter from Delaware - Congress puts bankruptcy-related bills on hold, USG calls for Wolin's removal, another suit against Enron
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Rosemont, Ill., Vows to Fight Bankrupt Casino License Auction Deal
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Woodworkers Warehouse liquidating after bankruptcy
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Saratoga Partners Completes Advanced Lighting Investment
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Accounting:

Accounting rules let companies benefit from investment upside
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Justice Department Accuses KPMG of Withholding Documents From IRS

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Beware of ads offering debt relief
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Dealing With Orphaned 401(k) Plans
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Bankruptcy - removing the stigma
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UK:

Moody's reports on reforms to the UK insolvency regime
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Drax creditors reject IP offer
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Lenders welcome Consumer Credit Reforms, but warn of risks to poorer borrowers
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MyTravel posts £910m loss
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Leeds in fear of rival KO
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Electric slide
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France:

Pinault, France Reach Executive Life Deal With U.S.
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Germany:

Deutsche Bank Liable for Damages to Kirch, Court Says
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Bank ordered to pay damages to Kirch
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Canada:

Canadian auto parts firms in trouble
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Judge gives New Skeena till Feb. 9 to table finance plan, bids hunt for buyer
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Echo Springs Water sinks 20 jobs, ditches contracts under restructuring
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Consumer bankruptcies in Ottawa continue to climb
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Japan:

Japan's LDP Proposes 2 Trillion Yen for Bank Bailouts
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Yakuza connected to embezzlement of Minami stock
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Ashikaga FG shares do brisk trade despite core unit's nationalization
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India:

Unlike S. Korea, India's Credit Boom Won't Fade
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Australia:

Ex-Ansett staff get payments
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Kaye nears deal to halt liquidation
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Selim says the accountant did it
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Korea:

Woori Card sees delinquency ratio hit 30%
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Korea's Cliff-Hanger du Jour
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Italy:

Parmalat Shares Tumble In Lightning-Fast Trade
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Parmalat hit by Standard & Poor's downgrade
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'Looking like Enron'
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