August 11 , 2004 

Daily Bankruptcy News

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Also available on the Web (with links to the news stories)  at: http://bkinformation.com/News/DailyNews.htm

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Airlines:

Delta and United pilots face pay cuts
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The Coming Taxpayer Bailout
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Air Canada Provides Update on Restructuring
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Delta shares fall, investors focus on cash reserves
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Clock ticking for Delta, pilots
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Delta bankruptcy could tighten grip
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Disney: Delta Chapter 11 Could Result In $119M Write-Off
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CAA confirms previous move over Alitalia
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Airlines were $10 billion of aid after 9/11. Somewhere that loan guarantee scheme lost its way
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Moody's Cuts Delta Air Lines' Sr Unsecured Debt
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Pilots say the airline's salary concession demands are unfair, but it could be a lot worse
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Cheap fares and Italian practices
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ATA asks pilots for more concessions
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Moody's cuts Delta Air Lines debt another rung
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Low labor costs, strong revenue save Asia's airlines from oil spike
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SAA loses first skirmish in fight over damages
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Breakthrough may be coming at US Airways (scroll down)
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United imports new labor woes -- Union here vows to back UK action
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Law:

Challenging Lawyers' Training, and Finding Some Ethics
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Four Cooley Attorneys Named Among Top Washington Lawyers
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Luck Not in the Cards for Boies, as Bid for Massive Class Fails
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Worst Legal Market in America?
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Ex-Husband Testifies Against Attorney
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Hoping for 'You're Hired'
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Getting Time Off
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Energy:

NorthWestern Files Designation of New Board of Directors
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Corporate Reform:

Corporate fraud victims can tap into new California compensation fund
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IRS Begins Year-Long Look at Pay of Charities' Executives
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Judge Refuses to Dismiss Two Charges in Tyco Case
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Attorneys Agree to Fight New Corporate Sentencing Rules
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Ex-workers put on notice in El Paso price probe
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Economy:

Fed bumps up crucial interest rate
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Analysts see $50 barrel of oil in sight as new record is set
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The economy
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Economy is Bush's downfall
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Accounting:

Gadzooks Ditches PwC
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Court Rules Tax Protester Can't Sell His Book of Tax Advice
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Brink's Restates Liabilities
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Archdiocesan bankruptcy guided by Holy Spirit?
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Kmart to Cut 200 Jobs at Headquarters
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Kmart selling fewer stores to Home Depot
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President has deal to sell its casino
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Penn National Gaming Inc. agreed on Tuesday to purchase all of the outstanding stock of President Riverboat Casino
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Onsite Files for Chapter 11
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Halliburton Questioned on $1.8 Billion Iraq Work
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Ex-Mobile Tool workers drop lawsuit
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Ormet facilities sell for $13.5M
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Trump:

Trump: Bankruptcy is not a failure
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Past master of survival
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Reading the fine print -- Trump's plan to save casino companies not a done deal, experts say
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Trump Must Ante Up $55 Million to Hold On to 25% of His Casino
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Shake-Up May Be a Boon for Trump
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Trump Butera: Recap To Allow Growth In New Jurisdictions
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Apprentices Back Donald
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Trump loses his job -- but gets a raise
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Trump change all that's left
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Some Trump bondholders balk at reorganization
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Trump's Image Belies His Woeful Management Record
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Should Donald Trump Be Fired?
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Trump stakes casinos' future on Chapter 11
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Trump's toys for the newly bankrupt
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The Donald show - Bankruptcy!
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Trump files for bankruptcy due to $1.8bn debt
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Trump Hotels & Casinos Set to Go Chapter 11
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Trump Hotels plans Ch. 11 filing
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Gaming Commission says Trump's bankruptcy not an issue
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NYSE Suspends Trump Hotels Stock Amid Reorganization Plan
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Trump Hotels & Casinos Set to Go Chapter 11
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The Trump Signature Toothpick
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Humbled, Trump Hotels seek debt relief
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No Tears for Trump in Atlantic City's Casinos
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Trump happy with bailout plan
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U.S. Firms Chase European Restructuring Work
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Asbestos:

Shareholders urged to donate to James Hardie fighting fund
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ASIC forms committee to monitor James Hardie issues
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Hardie's gain may ease pain of victims
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The Australian asbestos question - how ever did it come to this?
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Allens defends asbestos advice
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T&N trustee considers bankruptcy sale strategy
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James Hardie chairman resigns
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Metropolitan Mortgage Sees Filing Chapter 11 Plan In Aug
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High Voltage Engineering Completes Restructuring and Recapitalization
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One year later - Pillowtex shutdown was textiles' worst day
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The Downfall Of Don Johnson
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Seventh Circuit Clarifies "Financial Accommodations" Exception To Executory Contract Assumption
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Toledo, Ohio-area bankruptcy rates still high
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Sure Fit dismisses CEO
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Debtor Precluded From Lien Stripping A Secured Claim and Paying Claim Beyond The Five-Year Term Limit of Chapter 13 Plan
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As it pushes toward exit, WestPoint Stevens continues to bleed red ink
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New Bankruptcy Opinions
(2 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings
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Weird News
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Judge names Portland lawyer to examine Oregon Arena Corp.
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Vernon Downs pushed to bankruptcy
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Enron:

With Sentencing Guidelines Up In The Air, Attorneys in Enron trial given more time
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Chaos over sentencing guidelines delays Enron trial
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Alma mater can't wash Lay's dirty endowment
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11th Hour Bonus Litigation Update
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First Circuit Joins Ninth Circuit and District Of Columbia Circuit In Ruling Medicare Overpayments Are Subject to Recoupment
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Westdale Group Liquidates Schlotzsky's Inc Stake
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Adelphia plans to sell its operations at auction by end of year
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When is a transaction in the ordinary course of business?
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UK:

Bankruptcy system under pressure
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Credit Card Debt Crisis
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Italy:

Parmalat strikes bank credits off debt swap plan
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Parmalat on the Offense
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Parmalat Rejects More Than EU1 Bln in Claims From Biggest Banks
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Parmalat's Bondi Says He Will `Likely Sue' Bank of America
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Parmalat Brazil units given bankruptcy protection
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Parmalat Sets Creditor Deadline, Can Reject Claims
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Russia:

Russian energy officials asked government bailiffs to give Yukos access to its frozen bank accounts
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Central Bank revokes license of commercial bank
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Dubai Emirate Denies Plan To Rescue Yukos
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Shadow-boxing over Yukos
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If Yukos Stops Pumping Oil, Russia's Oil Extraction And Export Will Drastically Drop
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Canada:

Skeena unions lose court bid to entrench wage awards against insolvent firm
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AldeaVision Announces the Closing of its Debt Restructuring
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Israel:

Court sets Chernoy's $4 million villa as bail
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Japan:

Daiei wins reprieve from creditors
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Daiei rejects banks' plan to seek IRCJ aid
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Daiei told by three creditor banks to seek IRCJ help
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Mitsubishi Boss: Vehicle Interest Key
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Govt-affiliated foundation on brink of bankruptcy
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New Zealand:

New Zealand auditors enjoy post-Enron financial boom
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South Africa:

Lawyers expect radical changes for business
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Brazil:

Brazil Votes On Bankruptcy, Agencies Delayed To Late Aug
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