November 11, 2003 

Daily Bankruptcy News

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

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

Enron reorganization plan in jeopardy - Bankruptcy case official says compromise has fallen apart
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Some Enron Creditors' Support of Bankruptcy Plan Wavers
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Enron's Legacy: Losses for Utilities
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NBTY Profit Drops in 4th Quarter On Twinlab Loss
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Airlines:

Air Canada kills Cara deal
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Air Canada unions still plan to fight
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Airline rescue to test Lis' patience
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Li sticks to family script with Air Canada stake
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Air Canada unions not impressed - Workers resent millions of dollars in executive bonuses as part of deal
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Cara, Air Canada Both Have Leverage In Pact Talks
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Pick your Air Canada seat, for a fee
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Air Canada's Milton Gets Li's Backing to Remain CEO
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How Victor Li will remake Air Canada
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Air Canada stock rises despite equity deal that suggests they're worthless
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'Ted' appears to be United's ticket for latest climb into low-cost skies
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UAL identifies potential bankruptcy exit lenders
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After Thousands of Layoffs, American Airlines Finally Stabilizes Its Workforce
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Creditors' committee formation dynamics: Issues in the real world
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Telecoms:

Citigroup, Grubman, Andersen Bid For MCI Documents Denied
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Superior TeleCom Inc. Completes Restructuring
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Sale of Touch America may not be certain
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Steel:

U.S. Loses Trade Ruling Regarding Steel
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Steel tariff decision may spark trade war
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EU, Japan Get WTO Clearance to Sanction U.S. on Steel
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Industry, Union Urge Bush to Retain Steel Tariffs
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White House faces delicate economic-political decision on fate of steel tariffs
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International Steel Group Says WTO Ruling Does Not Terminate US Steel Safeguards
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Filing of Bayou Steel Corporation's Plan of Reorganization
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Bayou Steel sees emerging from Chapter 11 in Feb
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Jones-Tyson matchup could become reality
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Industry-wide Impact of Loral's Bankruptcy
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Poor credit can still raise insurance rates for now
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Judge Approves Cone Mills Bid Procedures Agreed Upon by Creditors
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'Perfect Storm' ; After Showing A Profit In 2002, Cone Mills Took A Rapid Dive Into Bankruptcy. How Did It Happen?
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TJX Cos. to Keep Most of Bob's Chain Open
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Congress moves towards FCRA reauthorization
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Practical lessons in using intellectual property as collateral
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The uniformity power: Why bankruptcy is different
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  Mayor Seeks Distressed Financial Status For Pittsburgh
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Asbestos:

U.S. asbestos bill draws big lobby spending
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FAO:

More Bad News For FAO Inc.
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FAO Gets Notice of Default From Lenders
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FAO Credit Crisis
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FAO Default Poses Threat of Return To Bankruptcy
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Energy:

PG&E finance chief leads off bankruptcy trial
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U.S. Bankruptcy Judge Starts Trial On PG&E Plan
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Dynegy Auditor Testifies Advice Ignored
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Bankruptcy Judge Allows NorthWestern to Pay Bills from Montana Wildfire
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NorthWestern Corp. Bonus Payments to Executives Get Bad Reaction in Montana
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Suburban Propane Partners, L.P. Announces Signing of Asset Purchase Agreement to Acquire Agway Energy
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Xcel Still Waits on Go-Ahead on NRG Energy Assets' Transfer
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Xcel's optimism rings hollow
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FERC gives final rejection to Western power contracts
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Accounting:

US Senate hearings to target corporate tax dodging
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Call for Increased Tax Shelter Penalties
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Witness tells of reaction to Dynegy's Alpha
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PCAOB Considering Two Auditing Standards, Amendment to Interim Auditing Standards

Trial begins for financier Harris in offshore-tax scheme
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Memo at Rosie Trial Reveals Plan to 'Manage Financials'
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Sarbanes-Oxley Has Companies Scrambling
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As companies fold, cities gamble on subsidies don't always pay off
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GenTek Completes Chapter 11 Reorganization; Closes on $125 Million Credit Facility and Announces New Board of Directors
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A new limit on the new value preference defense
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Burlington Industries negations announcement soon
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Bankruptcy judge named
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Appraising postconfirmation leaders: The underutilized confirmation requirement
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eNucleus, Inc. Emerges from Bankruptcy; Receives Final Decree
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Corporate Reform:

Critics Slam Focus of Mutual Fund Probe
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Tyco Faked Luxury Apartment Addresses, Jurors Told...
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Koz Was Tyco's Loan Arranger, Accountant Says
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Witness cites account for Tyco ex-CEO / Former company officers accused of looting the company of $600 million
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Financial World's Scandals Keep Spreading
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Mutual Funds in Crisis
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SEC to Wall Street: Time to Clean It Up
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Credit Quality for North American Chemical Companies Continues Negative Trend
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New Bankruptcy Opinions
(2 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
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"The Buck Stops at the CEO" - And sometimes, Chapter 11 is the only way out
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Law:

Alvarez & Marsal open new Denver office
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Cozying Up to Judges, and Reaping Opportunity
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Talk of Wiretaps Rattles Hollywood
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Partner Names Get Trimmed as Firms Follow National Trend
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Law school's first graduating class achieves highest pass rate on bar
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I'll give you a tinkle
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Law firm management shake-up merges IT and business strategies at board level
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Allen & Overy set for LLP conversion by end of financial year
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Fleming's Woes Turn Spotlight on Food Industry
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Bankruptcy bid reveals skin skid
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DEN: A Den Of Iniquity
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Labor Union Files for Bankruptcy
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UK:

Festive buyers ignore rising interest rates
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International Power Shares Plunge on Profit Outlook
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Bankruptcy Is Not An Easy Option
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The extent to which directors' and officers' insurance cover can protect against Enron-type liability
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Insolvency law spotlighted
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Pensions crisis to cost £27bn a year
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UK directors' insurance costs seen flat in 2004
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There has been a minor revolution in the corporate restructuring market in the past few years
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IMCO Plastics Limited (in administrative receivership)
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Missed opportunities - The Enterprise Act could have introduced a Chapter 11-style process for restructuring in the UK
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EU:

Europe aims to take the sting out of bankruptcy
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Germany:

IG Farben to file for bankruptcy
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Bankruptcy threatens firm paying Nazi-era damages
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Malaysia:

Suicides force officials to act against loan sharks
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Korea:

S Korea's credit binge breeds debt, despair and suicide
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Indonesia:

Asia Pulp -- Restructuring Debt or Mindset?
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Australia:

Elliott appeal slated for February
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Federation left with nothing
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