February 11, 2004 

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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Airlines:

Union tries to dump Air Canada partner
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Li proposals threaten restructuring, unions say
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Airports Trump Airlines as Credits, Says Moody's
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Delta Cuts Back on Jet Order to Save Money
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Bankrupt Great Plains Airlines Faces Widespread Debt
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Creditor of Bankrupt Great Plains Airlines Tries to Repossess Aircraft
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Air Canada unions fight to preserve pension plans despite new investor
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U.S. judge gives Avianca more time, for now
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Airline Executives See Big Pay Cuts
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United seeks 3rd extension on reorganization plan
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United seeks to block probe of pension issue
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American pilots' union president won't run again
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Galey & Lord Says Court OKs Reorganization
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Corporate Reform:

Tyco's ex-CFO denies wrongdoing
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Assistant: Stewart altered message log
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Prosecution Sees Stewart's Lawyer as Potential Witness
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The SEC Opens the Boardroom to Unhappy Investors
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Digital Divide Brings On Tower, Blockbuster Woes
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Ducane Gas Grills to be sold
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Partners At Odds
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Tower Records:

Tower Receives Approval of First-Day Motions in Connection With Bond Debt Restructuring
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Tower in denial
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Tower Records May Live On Despite Bankruptcy
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Adelphia asks to extend reorganization-plan deadline
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Spiegel Wins Delay in Bankruptcy Filing; L.L. Bean's Eddie Bauer Buyout Waits
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AG blasts $99 "bankruptcy mill"
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Penthouse International Discloses General Media's Unaudited Results For the Quarter Ended December 31, 2003
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Rising Debt Threatens to Overwhelm Many American Families
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Personal Bankruptcies off to Slow Start
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Banks: Erpenbeck's father is bankrupt
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Farmland refinery sale moves ahead
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Carefree spenders (borrowers) take care of world economy
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2003 a Banner Year for AFM Hospitality Corp.'s New Interim Asset Management Division; Trigild Doubles Business, Expands Services and Specialties
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  Hollywood fundraiser who once courted stars now seeks protection from them
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Going Bankrupt
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Steel:

Auburn Foundry files for bankruptcy protection
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Haynes to file Chapter 11 bankruptcy
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Union seeks court injunction to halt liquidation of Slater Steel Hamilton unit
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Stelco provides restructuring update
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Wheeling-Pitt raises prices again
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Intellectual Property as Collateral: Special Concerns
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Bankruptcy judge approves Cone Mills deal
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Law:

Sheppard Mullin Elevates Bankruptcy Attorney To Partnership
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So You Would Like to Be an Appellate Lawyer?
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Conflicts Detailed in Suit Over $92M Executive Payout
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Conflict of interest costs firm CSFB gig
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Poor financial management hits UK law firms in the pocket
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Lawyer Misses High Court Date, Boss Can't Explain Why
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Fee collection among UK law firms worsens, at a cost to partners
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Law Firm Hit With $595,000 Judgment
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Accounting:

IRS collects on offshore tax scams
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Strong opposition to auditor liability cap
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Big Four Losing Ground to Smaller Firms
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Regulators Probe WebMD
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A banking disaster
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Telecoms:

XO's Allegiance Bid: Only Firm That Made Competing Bid
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Qwest challenged in Allegiance bid
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Broadband Sets Stage to Exit Chapter 11
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Nothing left for counterpunch
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Gosman bankruptcy trial set for May
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Fannie Mae, lenders aim to revive US mobile homes
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Court Approves Sale of Waterlink Specialty Products to Calgon Carbon
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Creditor to heat two mills for a day
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Penn asks to shed leases
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Barre granite plant facing bankruptcy
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Utah bankruptcy filings maintain downward trend
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Norwegian Cruise Aids Insolvent Lloyd Werft
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New Bankruptcy Opinions
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Port of Sacramento Looks to Borrow to Avoid Bankruptcy
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Bankrupt McClellan Health System Prepares to Sell Assets
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Energy:

Executive bonuses don't set good example
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Bonuses: At least we won't pay
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'Avoidable Preferential Transfer' proven by preponderance of evidence in Chapter 7 case
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Spokane bankruptcy rocks investors
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UK:

UK pension plans may hit well-run companies
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Self-cert mortgages could skew market
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Higher audit threshold will not affect creditors, says Experian
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Soccer - Financial health of Europe's clubs in question
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Cash-strapped Dunfermline ask players to take wage cuts
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TV Henry has gone broke
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English game must introduce tough financial controls-IFC
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Italy:

Reports say 7 banks probed by Parmalat investigators
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Additional Parmalat Stories

Former chairman of Cirio food company arrested
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Canada:

New Skeena gets extension
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Don't liquidate Skeena yet, credit union says
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Canadian corporate directors bracing for more scandals in 2004: KPMG
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Australia:

The ghosts of corporate past
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Argentina:

Argentina picks 3 int'l banks to advise on debt
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World Bank board delays Argentina loans meeting
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Argentina: let's move forward
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Japan:

Daiei debt-reduction plan gets nod
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Singapore:

Asia Pulp ruling stings U.S. funds
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Korea:

Financial Authorities Accuse 13 Firms of Accounting Fraud
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