December 19, 2003 

Daily Bankruptcy News

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Steel:

Rouge favors Russian firm's bid
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Severstal Bids $285.5 M For Rouge Industries; Rouge Industries To Recommend Court Approval
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U.S. Steel loses Rouge auction
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End of steel tariffs brings joy and disappointment
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Slater Steel threatens to liquidate 2 operations as union refuses concessions
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Slater Steel Restructuring Update
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Junkyard Capitalism
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Enron:

Ambassador promoted cause of Enron boss
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CIBC said close to SEC deal
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CIBC to settle with SEC in Enron probe: Report
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Utility to settle energy crisis case
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Telecoms:

Telecoms Await '04 Smackdown
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Woes May Weigh on MCI's Ratings
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Judge in Miami to Hold Hearing about Possible Trustee Control of Supra Telecom
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Bankruptcy Reform:

Bankruptcy reforms still await Congress' OK
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Corporate Reform:

2 Boeing execs and their cozy Pentagon connection
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Treasurers' increased activism annoys Wall Street, corporations
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$43m!
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Janus gives back
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Mutual fund industry proposes own reforms to SEC
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Loss of confidence in Invesco Funds a message to sell
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Greed, manipulation burst the bubble
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Will they pay? The right data lead to Results
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Bankruptcy filers detail pains of making financial recovery
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Ex-CEO Sues Conseco Over Disclosure About His Finances
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Scams targeting stressed-out bill payers are on the rise
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Saving Lives, Losing Millions at Pr. George's Hospital
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Hospital official balks at deposition questions
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Solutia:

Solutia Granted Access To $85M In Bankruptcy Financing
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Bankrupt Chemical Firm Solutia Faces Many Issues in Bid to Fix Financial Woes
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Solutia retirees worry about benefits
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Solutia Receives Bankruptcy Court Approval of First Day Motions
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Kaiser Aluminum Signs MOU With Republic Of Ghana To Sell Its 90% Interest In Valco
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Gold mine of IP awaits
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Jobless face daily struggle to stay afloat
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Galey faces objections to reorganization plan
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Dayton companies sue payroll service
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Bankruptcies stay low in valley -- for now
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Doll company closing doors, finishing orders
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Warranty Gold tries to avoid state legal case
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The debt set: 20-somethings are racking up big credit bills
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Charging Headlong into Debt Is Made Easier with Availability of Branded Cards
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Things to do while waiting for credit reforms to kick in
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Thaxton Group president found dead
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A Deficit of $100 Million Is Confronting the N.R.A.
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Savings Dwindle as Americans Spend, Spend, Spend
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Bankruptcy Court Approves Sale of IMPATH's PowerPath Pathology and Cancer Registry Information Businesses
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KB Toys:

Giants have KB Toys on the ropes
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KB Toys Delays Payments to Some Suppliers
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Bankruptcy May Diminish Worth Of FAO Store Gift Certificates
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Small fry flourish as chains flounder
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TJX Cos Designated As Buyer Of Bob's Stores
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TJX prevails, wins Bob's
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AdobeAir lets 500 workers go
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'Skunk' Train May Roll Again by Next Summer
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  Asbestos:

Insurance Cos. Trying to Block Halliburton Asbestos Deal
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Deadline Set in Asbestos-Related Case
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Hartford to Pay $1.5 Billion to Settle Asbestos Claims
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The Hartford Settles Mac Arthur Litigation
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Congoleum Corporation Extends Deadline for Voting on Reorganization Plan
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Owens Corning Bankruptcy Judge to Rule on Possible Conflict of Interest
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Hartford Financial Services Group Inc.'s $1.15B Settlement Not To Affect Ratings
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Asbestos debate rages on in Zimbabwe
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Bush Says Passing Tort-reform Bills Is Key To Economic Growth
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Airlines:

Air Canada accepts Victor Li bid
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Legal threats fly in Air Canada talks
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UAL CFO Says Airline to Cooperate in Mesa Probe
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Bigger bid offered for Air Canada
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Air Canada Suitor Li Submits Sweetened Investment Plan Offer
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Air Canada - the price isn't right
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Hawaiian, Aloha Airlines Play Pricing Tug-O-War
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Hawaiian has its best November ever due to cost cutting, rising revenue
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United, Atlantic Coast involved in legal fight
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U.S. investigation of United Airlines clouds loan request
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Energy:

Mirant/Settlement: Well Below $28M Sought By Calif.
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NRG Outlines Initial Creditor Claim Distributions
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PG&E bankruptcy deal will protect 140,000 acres
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Thousands of claims against PG&E hinge on findings of probe - Weekend power failure is latest setback in long string of woes for utility company
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California Energy Industry Still in Limbo
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PG&E Bankruptcy Settlement Will Not Stop Lawsuits, Lockyer Says
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NorthWestern: May Weather Bankruptcy Without Rate Hike
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Law:

Not much satisfaction for D.C. firms in associates survey
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Singer Sues Weil Gotshal Over Joint Representation
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Holiday season doesn't slow maneuvering by Memphis law firms
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Law Firms Get Millions in Tobacco Case
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Partners from Doomed Firm Find New Homes
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Milberg Weiss Offices Set to Duel Over Stock Exchange Suit
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Rising to the Top: Survey Reveals Average Number of Years to Make Law Firm Partner
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Women in law: Looking at the evidence of progress: Female lawyers are catching up with males in numbers, but not necessarily in power
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Three More NY Firms Announce Year-End Bonuses
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Judge slams firm for fundamentally dishonest" discovery
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Putting things in perspective - Key players assess issues, profession
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Top Firms Launch Web Sites to Network With Former Colleagues
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Holt quits KLegal
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Cadwalader D.C. manager: Office in 'a growth mode'
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Impending split of KC law firm lands in court
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Reed Smith gets traction in East Bay
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Cigar family honors its long-time law firm
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Bankrupt grocer paid millions to exec doubling as consultant
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The rise of the one-adult household
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Thrashing about in investing's toxic waste
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New Orleans: Fair Grounds drafts bankruptcy plan
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Wedgewood home builder struggles
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Miller companies see sale as possible end to bankruptcy
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Hepatitis, Bankruptcy At Issue
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Metatec is poised to make new start after Chapter 11
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Pittsburgh: Rock Jungle files for Chapter 11
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International intrigue follows Greek ship to Hawaii port
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SDC Board Considering Future Steps, Including Bankruptcy
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J & J Snack Foods to Acquire Country Home Bakers, Inc.
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New Bankruptcy Opinions
(6 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Court ruling could set precedent for carriers
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Moody's issues report on U.S. consumers credit
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Orlando lawyer becomes federal bankruptcy judge
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Buyer of bankruptcy debt gets $51 million investment
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Hancock Bank to Press Foreclosure Claim on Gulfport, Miss.-Based Manufacturer
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PhyAmerica and Affiliates Obtain $8 Million Financing
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Music Chain Closings, Bankruptcies Rampant in '03
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Relocating Debtors Couldn't Use Homestead Exemption
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Study shows lending patterns based on ethnicity, age
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Instafi.com refinancing company closes with unpaid bills
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UK:

BoE alerted to BCCI fraud risk in 1984
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Bank systems 'on brink of chaos'
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Canada:

Barbarians at the border - Canada the first place U.S. private equity firm KKR looks to for value-priced assets
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Minds Eye restructuring plan gets OK from creditors
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Italy:

Nestle Not Interested In Taking Over Parmalat
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Italy To Intervene To Bail Out Dairy Giant Parmalat
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Parmalat Ready for Official Move
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Parmalat and Italian bankruptcy law
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Time running out for Parmalat
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Parmalat 'is Europe's Enron'
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Parmalat May File for Bankruptcy Protection Soon
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Parmalat Gives Bondi Authority To Seek More Time
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Parmalat Mystery: Got $5 Billion?
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Italian City Unfazed by Scandal at Firm
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Parmalat bankers to come under fire
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EU warns any government bailout of Italy's Parmalat must comply with single market rules
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Parmalat woes rock both sides of Atlantic
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Parmalat black hole 'bigger than feared'
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Italy rides to Parmalat's rescue
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Why Parmalat has spooked the markets
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Unions To Seek Guarantees From Parmalat At Monday Meeting
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Parmalat May Sell Its Australian Dairy Assets
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Parmalat Reveals $4.9Bln Lost Offshore
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Insolvency stalks Italian food giant
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Japan:

Taxpayers face 2 trillion yen bill for bad loans
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Consumer-loan firms find eager allies
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France:

Banker in Lyonnais case says France abandoned him
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Switzerland:

Swiss Police Raids Offices Of Collapsed Erb Group
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Australia:

Creditors adjourn vote on Kaye deed
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Elliott bankruptcy hearing delayed
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Court orders special One.Tel liquidator
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No hidden assets, says guru who owes $58m
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Plan to dry up get-rich financiers
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National Textiles issue to repay Bart
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Australia moots radical future for bankrupt Nauru
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Millionaires on pension row
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Iraq:

Delivering Iraq from debt
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Why Did the West Lend So Much to Iraq?
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Korea:

More Cash Needed for S. Korea's LG Card
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LG Card Creditors Provide 300 Bln Won Bailout Loan
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Argentina:

Tensions rise for Argentina to stick to IMF pact
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