February 5, 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:

Arrow Air gets $13.5M offer
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Competing groups want their help in bids for Hawaiian Airlines
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Hawaiian Holdings Directors Quit After Insurance Expires
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US airline struggling to keep itself aloft
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US Airways to Discuss Ways to Help Finances Without Resorting to Asset Sale
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As US Airways Board Meets, Employees Wonder about Future of Troubled Airline
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Losses, Competition Put Future of US Airways in Doubt
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Questions, Answers Abound Concerning Great Plains Airlines' Bankruptcy
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Delta Air Grounds Expansion Plans For Its Song Unit
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Right of First Refusal Is Recognized in Bankruptcy - LLC Dispute
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Adelphia:

Adelphia Founder Against Financing Talks
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Scope of Rigas Case Widens
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Pretrial Ruling in Adelphia Fraud Case
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Corporate Reform:

Dramatic Testimony Given by Stewart Broker's Aide
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Sarbanes-Oxley Pulls Litigators Into Investigations
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Two Steps Back for Martha's Defense
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CFO Whistle-Blower Is Vindicated
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Energy:

CornerStone Propane No Longer Pursuing Sale of Assets, Will pursue restructuring
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Power company offers to buy some assets of NorthWestern Corp.
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Portland General sale draws objection from PBGC
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WaMu sues another lender over mortgage-loan losses
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Suit Accuses Florida Banks in Check-Kiting Scheme - Suit on behalf of creditors says SunTrust, others failed to stop multimillion-dollar check-kiting scheme
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Are Federal Appellate Practitioners Free at Last? - Proposed rule change lifts ban on citation of unpublished decisions that is still in effect in certain federal appeals courts
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Endicott Johnson Creditors Win Big
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Filing for bankruptcy can cause other problems
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Bankruptcy judge allows hepatitis lawsuit against Chi-Chi's
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Judge rejects GIT-n-GO bankruptcy financing
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Bankruptcy judge gives Git-N-Go some breathing room
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Reptron emerges from bankruptcy
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Cryptcomm Group, Triad Calendar file bankruptcy
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Benefits of big bank mergers challenged
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Spiegel Seeks Restructuring Extension
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Grosvenor hotel at Disney seeks bankruptcy protection
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DIP dimensions: Factory 2-U Stores Inc. - financing from its liquidator
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Kaiser Aluminum Reports on Results of Union Agreement Court Hearing
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Aurora Foods Gets Court OK On $50M DIP Funding
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Northwest Ohio Bankruptcy Filings Dropped 14 Percent in January
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  Bankruptcy Reform:

House Piggybacks Bankruptcy Reform On Farmers' Aid Bill, But Crafting a Compromise With the Senate Still Will Be Dicey
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Key Democrats Send Dear Colleague Letter to House
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Spokane conglomerate Metropolitan Mortgage files for bankruptcy
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Metropolitan Investment Securities, Inc. Announces Voluntary Filing Of Chapter 7 Liquidation Petition
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Steel:

Golden years for Stelco brass
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Union chief: AK bankruptcy a possibility
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Slater Steel attracts second bidder for bankruptcy auction
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Potential Buyer: United Steelworkers and Pinnacle Steel ask Slater Steel to slow down planned liquidation
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McGuinty won't promise aid for faltering Stelco
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U.S. group could buy Slater's Hamilton operations: Union
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The end of an era: Bankruptcy sends Geneva Steel assets in opposite directions
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Geneva asset sale cleared
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Law:

More Judges Leaving Bench for Better Pay
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UK firm pioneers negotiated malpractice claim caps on deals
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Canada’s main bar has launched an investigation into radical proposals to allow law firms to float on the stock market
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Responding to Large Firms, Recruiters' Group Aims to Change Rules on Job Offers
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Start-Up Firm Plans to Slash Billing Rates
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Law firms warn students not to apply if they have filed bankruptcy
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Akin Poaches More Partners For Satellite Office
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Allen & Overy sets US bonus levels
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Shearman profits surge for second year running
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KLegal network formally ended
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IRS Muni Enforcement Spotlight Turning To Bond Attorneys
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EY firm bags Gotshal duo
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Cadwalader profit surge sets the pace for US firms
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White & Case committee to back Wall for second term
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Orrick changes management team
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Steps that practitioners must take to ensure they have access to all the available relevant information
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Firms Leaving Downtown Miami
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Chief justice asks legislators to reduce size of State Supreme Court
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The Engine That Could - One firm's quest for an internal search engine that could do it all
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Tropical Sportswear International Vagur On Turnaround Strategy - Analyst Suggests Bankruptcy Possible
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Former Days Inn chain owner Hundley convicted of $100 million bank fraud
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Letter from Delaware - The House is back on bankruptcy reform; Combustion Engineering postponed again; Penthouse beach resorts and more
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Maneuvering for control of stronger Malden Mills
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Sears, Bondholders Battle Over Debt
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New Bankruptcy Opinions
(3 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
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LaRoche and Offspring Close Door on the 'New' Preference Defense
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Americans Are Buckling Under the Weight of Debt
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Avado Brands files for Chapter 11 protection
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Avado Chapter 11 Bankruptcy Filed; Arranges DIP Financing
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Why Two-Income Couples May Be Worse off Than One
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DVI, noteholders settle for $1.6B
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Stone & Webster to exit Ch. 11 with equity in the money
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Oakwood Homes to Cut 275 Jobs after Merger
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Parent of Bangor, Maine, Paper Mill Awaits Loan Approval to Resume Operations
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UK:

Bank of England official 'appeased' BCCI, court told
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Football's financial own goal
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The Hatchet Man Of Football
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Clubs In Crisis
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Italy:

Parmalat probe widens into money laundering
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Parmalat's creditors look to unite
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Parmalat Brazil announces indefinite operation suspension
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Parmalat Woes Spread in Latin America
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Swiss to quiz Parmalat over money laundering
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Stronger audit committees and a public oversight board are great, but Parmalat shows plenty of accounting-induced bankruptcies could still lurk
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Italian Investors Feel Milked By Parmalat Collapse
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Parmalat looks to protect units
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Parmalat law firm 'removed files' claim
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Parmalat Brazil Says Plants Working At 40% of Capacity
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Parmalat Moves Seven More Units Into Insolvency
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Argentina:

Argentina May Call Referendum on Debt, FM HIT Says
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Argentina Skirts Euroclear to Pay Holders of Boden Bonds
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Argentina's Cablevision Changes Terms of Debt Plan
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Why America's 'leniency' over Argentina's financial indiscretions has such a long history
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Korea:

Korea Exchange Rejects Its Role in LG Card Bailout
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KEB's withdrawal threatens LG Card rescue
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_____________________

China:

China's 'big four' banks set for new loan plan
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Citibank Offers Credit Card in China
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Netherlands:

Dutch bankruptcies top 20-year record
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