December 24, 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

Prior editions available at http://bkinformation.com/bankruptcy_news.htm
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FAO:

Judge Blocks FAO Sale Of Right Start Stores
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1 Down, 1 To Go Bin Bids For FAO
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Toy Sellers Wish for Just a Bit of Evil
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Santa Claus Files Chapter 11
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Airlines:

Airlines' future uncertain
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UAL Posts $75 Million Loss for November
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Delta to cancel executive bonuses
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No bonuses this year for Delta's top brass
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Li to give Air Canada creditors more shares
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'18 cents on the dollar' for Air Canada creditors
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Details of Li bid revealed
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Li's Air Canada deal best bet for creditors
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United parent again meets its bankruptcy requirements
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United bails out on deal with Thai - US airline's creditors reject `low' prices for used 747-400s
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American Airlines Has Money in the Bank, but Carries Bigger Debt
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Judge OKs Bankruptcy Court's adoption of Scout Platoon troops
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Steel:

WCI's losses, sales worsen
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Steel sees big changes
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Owners of Warren, Ohio-Based Steel Maker Hope to Leave Bankruptcy by June
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Corporate Reform:

Their Day in Court / Execs accused of corporate crime to face trial
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Agents say Cal. fund really Ponzi scam
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Messier Gets $0
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TV Azteca may have violated U.S. securities laws
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Manulife Financial receives subpoena
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Vivendi Pays $50 Million in Settlement With S.E.C.
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Back to basics - Wynns returns to its roots to combat bankruptcy
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Bankrupt Las Vegas resort gets OK to borrow $10 million
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Funeral Services Held for President of Troubled Lancaster, S.C., Car-Loan Firm
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Buyers Came Back To Corp Bonds With A Vengeance in '03
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Good News Emerges from Portland, Ore., Investment-Fund Scandal
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Championship Auto Affiliate Lists Largest Unsecured Creds
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  Energy:

PG&E bailout deal lands lawyers $227 million
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PG&E fire not noticed for 2 hours / Utility admits oversight made blackout worse
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NorthWestern wants more time to compile bankruptcy plan
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Utility takes responsibility for blackout in San Francisco
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NRG Energy, Inc. Closes $2.7 Billion Financing
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Telecoms:

Citi Pays Out $1.5m In Worldcom Snafu
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WorldCom will get refund from Goldman Sachs
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Sullivan to Face New Allegations
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Fastnet sheds money-losing Web business
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Law:

Lawyers Spar Over Note in Chrysler Case
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More Leading NY Firms Announce Year-End Bonuses
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Top DC Firm Announces Bonuses
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Top Firm Faces Loss of Major Clients, Partners and Revenue
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Firms Faced Economic Challenges in 2003
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Law firm faces record £6.8m payout for "glass ceiling" sex bias
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Enron:

Dabhol foreign lenders spike plan to exit at a discount
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Agreement reached but details few in Enron broadband case
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Hospital's employees hope for pay - Bankruptcy court will be asked for OK
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Santa Paula hospital seeks bankruptcy protection
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West Suburban Hospital in financial bind
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Penthouse Gets Another Whack
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Physician-contract firm sold in court battle
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Court Approves New $8 Million Phy-America Loan Facility and Enjoins Former Executive from Interfering with Reorganization
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U.S. Stock Funds Post Biggest Gains Since 1999 With 30% Advance
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Goldendale Smelter Owner Files for Bankruptcy
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Construction begins on new Mississippi bankruptcy court
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Some Find an Ailing Company’s Debt Attractive
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Larry Owen Says He's A Scapegoat For Carolina Investors' Failure
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Philip Services to delist from Toronto stock market
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Mistrial Declared in Larceny Trial of Orlando, Fla.-Based Investment Advisers
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New Bankruptcy Opinions
(3 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
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UK:

Angry Leeds fans demanding an inquiry
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Canada:

San Francisco chain cuts shop value by $38M
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Pay your taxes, firms told
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Not much cheer in an ailing steel industry
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Doman earns yet another extension
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Italy:

Parmalat Has Filed For Bankruptcy Protection
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Parmalat to seek bankruptcy protection
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Bank Boss Stands Firm
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Parmalat Probers Are Likely to Focus On Role of Banks
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Investigators Outline Parmalat’s Efforts to Hide Liabilities
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Parmalat to File for Bankruptcy After Rules Eased
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Scandal’s Intricacies Put Grant Thornton’s Italian Unit Under Pressure
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Grant Thornton Says Parmalat, Enron Parallel Reckless
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Italian Officials Say They Suspect $11 Billion Ruse at Parmalat
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Parmalat’s Auditors and Banks Accuse Each Other
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'We'll never see Parmalat money'
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Creditors face Parmalat crunch, scramble to hire advisors
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EU Demands Information On Italy's New Insolvency Decree
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Parmalat to look after creditor interests
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Parmalat 'missing up to €10bn'
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Parmalat 'poised for protection'
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Follow the exit sign
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Italian dairy giant's scandal may bring far-reaching changes
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Echoes of Enron in Italian scandal
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Parmalat's Aussie assets shaky
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Parmalat Has $11B Shortage
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Deutsche Bank Has 5% Stake in Parmalat
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Parmalat enters bankruptcy protection
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Crisis powers invoked to save Parmalat
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Korea:

SK Corp. Falls as Sovereign Fails in Bid to Stop Sale
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Auction of LG Card Fails to Draw Bidders
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Argentina:

Argentina debt talks tenor seen worrying IMF
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Argentina Lavagna Wants Changes To Senate Bankruptcy Bill
(WSJ: separate paid subscription required)

Argentina Judge OKs 1st Debt Restructuring Under New Law
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