November 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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Enron:

AEP Electric units file suit against Enron, BofA
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Texas investors round up PGE deal
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Enron Delays Key Bankruptcy Hearing Until Dec. 9
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Auction block could be last stop for troubled Enron office tower
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Nevada Utilities Ask PUC for Rate Hike to Recoup Enron Judgment
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Enron finally finds buyer for Portland electric utility
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How PGE deal plugged into local megawattage
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Warranty Gold:

Bankrupt companies and hurt customers
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Telecoms:

Behind the Ntelos bankruptcy
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Qwest seeks to buy Allegiance Telecom
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Genuity wins approval for reorg plan
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CTC’s reorganization plan is confirmed
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StarBand Emerges From Bankruptcy
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Arctic Express files for Ch. 11
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Trouble in toyland
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Stakes climb for Palmer Johnson
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Hope glimmers for shareholders of WestPoint
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Union Acceptance Reports Financial Results and Bankruptcy Case Update
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Revlon Rouge
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Accounting:

Freddie Mac reveals details of accounting scandal
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Small biz feels ignored by accounting-standards group
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GAO: Delay Any Mandatory Auditor Rotation Reforms
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Forensic auditor key to case
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Non-Big Four Accounting Firm Places 2nd in U.S. Audit Rankings

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Steel:

Severstal Bids $215M For Rouge
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Symbol of US strength weakens
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Rouge Indus Sale: Severstal Could Be In Bidding War
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US Govt Investigating Weirton Steel's Business Dealings
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U.S. May Scrap Steel Tariffs But Require Licensing
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Bush Steel Tariffs Pit Votes at Home Against Trade With Europe
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Special Metals files plan
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Corporate Reform:

New Hollinger payment unveiled
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The book on Black - The plot is familiar: Corporate icon protests his genius as empire collapses
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Hollinger Directors Quit
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The Critical Battle for Fund Reform
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Derivative Suit Against Stewart, Directors Dismissed
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How Eliot Spitzer became linchpin for trading probes
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Southwestern Water Exploration Files For Chapter 7
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Homeowner associations accused of using abusive debt-collection tactics
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Credit Counseling:

Credit counselor a lifesaver if you're in over your head
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Credit Counseling Agency Says Federal Trade Commission Action Welcome
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IRS Testimony On Credit Counseling
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RCN looking shaky / Cable provider could be forced to file for bankruptcy
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  Asbestos:

Senate Puts Asbestos Bill Off Until Next Year
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Travelers Property Reaches Tentative Asbestos Settlement
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Asbestos makeover reignites old battle
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$6.4 Million Verdict for Family of Cleveland Asbestos Victim
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Chi-Chi's:

5 lawsuits brought against Chi-Chi's in hepatitis outbreak - But bankruptcy, insurance put settlements in doubt
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Chi-Chi's was ailing before outbreak
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Law:

NLJ 250: Slow Growth but Lots of Practice Groups
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Fired Top Firm Partner Takes Fifth at Senate Hearing
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Out-of-area law firms see opportunity in depressed valley
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Ex-Partner May Pursue Retirement Pay Claims
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Law firm lease a portrait of a deal
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Top NY Firm Ends Annual Black-Tie Affair
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A solo law practice means self-motivation
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Clients Get $9.7 Million, Lawyers Get $8.2 Million
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Reed Smith raises starting associate salaries: Firm hopes $110,000 will help it to attract, retain lawyers
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Urged to merge? Know the score before discussions start
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Texas litigation firm shops Birmingham market
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Airlines:

UAL Cites 'Major Strides' With Restructuring
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UAL Sees Possible Bankruptcy Exit Delay
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Bankruptcy judge approves $27 million to UAL advisers
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'Ted' just another cheesy bit of marketing
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Air Canada Gets Revised Proposal From Cerberus Capital
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Cerberus fights for Air Canada
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Cerberus starts Canadian dogfight
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Cerberus threatens Li victory by renewing Air Canada bid
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Hawaiian on top again
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Midway jobs could return
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US Airways' Ills Loom Large for Retirees
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Credit info changes likely to get Bush OK
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Will new version of Fair Credit Reporting Act help protect consumers?
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Bankrupt EVTAC Taconite Plant in Minnesota Attracts 11th-Hour Suitor
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Energy:

NorthWestern Corp. Utility Lays out Its Viability Factors in SEC Filing
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NWC says its future is shaky
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Questions surround MDU, co-op 'offer' for NorthWestern
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NRG's Reorganization Plan Slated to Be Approved Monday
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Crescent Operating, Inc. Updates Estimated Range of Recoveries for Its Common Stockholders
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HealthSouth to make Dec interest payment
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HealthSouth Loaned $45M to Ex-CFO's Firm
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Austin: Software firm ready to emerge from Ch. 11
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Should the U.S. keep bailing out airlines?
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West Valley Symphony needs money to pay bills, stay afloat
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Conseco sues former CFO to recover part of debt
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Cleveland's Deaconess Hospital in bankruptcy court
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Knott Group defaults on bank loans
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New Bankruptcy Opinions
(1 new opinion today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Bankruptcy Reform:

As bankruptcies set record, reform bill is on hold
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AMA eyes bankruptcy reform
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New Senate bankruptcy bill on priorities
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Brennan plea in jeopardy Judge's words suggest financier facing more prison time
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HomeGold:

More charges likely in securities fraud case
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Capital Factors claims $30 million fraud by client
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Senior Living Properties, LLC Announces Emergence From Bankruptcy
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Lawsuits pile up against PMA
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Business As Usual: How Good Organizations Go Bad
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Bankrupt Las Vegas resort generates positive cash flow
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Community Reacts to Bankruptcy of Film Festival
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Piccadilly ready to switch from closings to upgrades
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Creditors seek action in timber firm's Chapter 11
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High Point, N.C., Furniture Maker Plans to Cease Production
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Big-box retailers have snatched up many Kmarts vacated due to bankruptcy
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Tech Workers’ Losing Fight to Match Overseas Wages
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Oxmoor bankruptcy is closer to 19th hole
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Sobering look at haves, have-nots in America
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Attorney Had Non-Priority Unsecured Claim

UK:

Students bankrupt over loans
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Student Bankruptcy On The Rise
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Indonesia Targets Jailed British Oil Exec
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Dundee placed in financial administration
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China:

China Considers Bankruptcy Law For Rural Credit Unions
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China near to agreeing state bank bail-outs
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China to inject more cash into debt-laden state banks
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Paranoia is the weapon of choice against China's banks
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Japan:

Tokyo invokes key bankruptcy law
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Canada:

Christmas in the red: Season's greetings from bankruptcy trustees
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6,000 woodworkers strike after dramatic LRB ruling
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Doman cuts deal with union to restructure Port Alice pulp mill
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Korea:

LG Card Resumes Cash Advances
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Bailout for S Korean card giant
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Creditors step up pressure on South Korea's LG Group
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Australia:

Liquidator sells Pan assets
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Ansett workers to receive entitlements
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Argentina:

Argentina govt meets with local creditors
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