February 27, 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

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Steel:

Keystone Consolidated Industries files in bankruptcy court
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Stelco's lawyers tied to Martin's circle
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Weirton Wants Conditions on Rival Bidders
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Weirton Steel work may slow
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International Steel earned $24 million in 4th
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Details begin to emerge on Weirton Steel buyout
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Law:

Law Firms Adopting Wellness Programs
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US financial results ’03: Kirkland, Weil, Simpson have record years -- Kirkland and Simpson Thacher close to $2m average profits
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Practice Chair Defects
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MoFo, Davis Polk Attorneys Close $660 Million Deal in 12 Days
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Major Hagen & Africa Wins Some, Loses Some
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Name Partner Quits Boutique; Expecting Hefty Fee He Goes It Alone
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Lawyer, Experts Booted Over Work Product Claim
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Enron:

Enron Settles with Osprey Trust Investors
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Enron Overtaken as Bush’s Top Financial Supporter
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Senators chastise FERC on Enron, Nevada Power dispute
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Both sides in Enron case told time of essence
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Tyson:

Broke Tyson: I'll Fight For Food
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Tyson admits guilt, avoids prison
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Tyson, Last of Vanishing Breed, Stops by Court on Way to Mexico
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Accounting:

The Art of Unhatched-Chicken Accounting
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Treasury and IRS Issue Guidance on 'Swaps'

Crowe Chizek Institutes Forensic Services & Investigations Practice
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Starting Salary Offers for Grads on the Rise, But Accounting Salaries Remain Flat
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E&Y Named in Pa. Suit Against Time Warner
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Could Good Accounting Rules Drive Out Bad Ones?
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FieldTurf to be Installed at the Metrodome; Industry Leader Steps up Following Bankruptcy of SRI Sports
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Zest for Junk Bonds May Be Waning
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Scope Of Lender Liability For Environmental Contamination Under CERCLA
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GIT-n-GO gas unit forced into Ch. 7
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Ormet Corp. Laying Off 80
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  Merry-Go-Round spins again
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Kerry Against Bankruptcy Reform?
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Kmart Wrong to Pay Vendors $327 Mln-Court
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Manhattan Federal Court Tops Nation in Chapter 11 Filings
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Business bankruptcy filings drop in NY
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Adelphia Lender Banks Oppose Firm's Reorganization Plan
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Airlines:

United parent narrows net loss
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United examiner named
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Hawaiian pilot’s bankruptcy reorg plan would bring $100M
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Northwest's plain speaking is new approach; pilots pragmatic
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Energy:

California power users to get rate cut as PG&E seeks to emerge
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PGE Gets Electric Rate Cut, But Not As Much As Planned
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Ownership of Penthouse up for grabs
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Corporate Reform:

At issue: Could Black sell stake?
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A Deal to Sell Hollinger Stake Is Blocked
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Power of the legal system prevails
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The case against the prosecution
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Jury chosen for trial of Adelphia founder
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Mutual Fund Litigation to Move to Baltimore
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Fleet Trading Scandal Benches 6 Execs
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Former Tyco CFO’s Defense Team Rests
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Spitzer may charge company in annuities probe
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A draft of jury instructions, which the judge overseeing the Stewart trial distributed to lawyers, contains all of the charges in the nine-count indictment
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Stewart Lawyers to Give Closing Arguments
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Figure in Stewart case dies after collapsing
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The rise of the whistle-blower
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A New Era for Whistleblowers
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LSB Corporation Bankruptcy Trustee Proposes Interim Distribution to Bank Subsidiary
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Cone Mills buy seen in the clear
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Plan will save Baltimore schools from receivership
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Sale of bankrupt Panhandle hospital called off
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Team 4 Investigates Foreclosure Scheme
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Record Number of Long-Term Jobless Losing Aid
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New Bankruptcy Opinions
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Court approves KB Toys bankruptcy loan
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Kaiser to sell Mead smelter; production might resume
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Miss. Man Pleads Guilty in Frankel Scam
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Sabres: May Lose As Much As $10 Million
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Ill. Grain Elevator Execs Sent to Prison
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Chi-Chi's Closing More Restaurants
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UK:

Leeds is back with a single suitor
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Ask the expert: Credit-card debt
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British Energy facing large obstacles
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Canada:

International Forest Offers to Buy Some Doman Mills
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France:

French pounce on British firm that shut factory
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Italy:

Ex-BOA Official in Italy admitted he had misappropriated $27 million in a Parmalat kickback scheme
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US banker admits Parmalat-linked fraud
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Italian police raid football clubs
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Police descend on top clubs as Italian football feels the financial draught
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Parma's collapse underlines concerns
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Indonesia:

IBRA closes doors with tens of billions of dollars still owed
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South Africa:

CNA liquidators cast a shadow over claims
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Australia:

Elliott files another bankruptcy appeal
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Creditors' reality: they're out of pocket
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Bahrain:

Fund collapse costs investors $29 million
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Israel:

Unemployment is millstone around mortgage bank necks
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Asia:

Futile Overhauls Hurt Lenders
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Experts flag potential bad debts across Asia
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