June 1, 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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Dow Corning Back From Chapter 11
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Enron:

Enron trial about to start
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Lawyers prep for Enron-Merrill Lynch trial
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Lawsuit seeks return of $136 million deposit
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Jurors' reactions to Enron key in first trial
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Victims' mothers decry lawyers cut of bankruptcy case against mobster
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Asbestos:

Two Judges Are Named for Asbestos Cases
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Subsidiary draws on Hardie's legal advice
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The Latest Asbestos Scam
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Law:

Lawyer to Stars Leads Peterson Defense
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Attorney helped stage crashes in insurance scam, bankruptcy judge rules
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Role Playing Helps Associates Improve 'Sociability,' Marketing
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Firms See Increasing Competition in Brussels
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The Case of the Mysterious 48-Hour Lawsuit
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Rehnquist's Olive Branch Too Late?
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Summer Associate Season Begins
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Marketing execs play expanded role for law firms
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Baghdad Practices Move in Slow Motion
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Gardner Carton Boosts Core Practice With Akin Raid
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Clients can drive winds of change at law firms
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Judge Censured for Presiding Over His Own Complaint
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UK firm partners decide on taking a pay cut, but give staff big bonuses
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When pounds 600 a day is not enough for one of Britain's top QCs: Lawyer dropped fraud case halfway through trial when the defendant ran out of cash and had to go on to legal aid
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Silicon Valley Law Firm Uses Local Talent to Make Entry into San Diego Market
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Law firm wins $1.4 million for itself from another firm that stole clients
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Lawyers should train themselves in the art of talking to the media
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Clifford Chance's NY Presence Continues to Dwindle
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Warning Signs to Help You Spot Problems With Lateral Acquisitions and New Hires
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Data Show Information Is Crucial for Firms Poised to Cut Health-Care Costs
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How to Pay Partners After the Merger
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Government survey shows 97 percent of civil cases settled
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Corporate Reform:

Anti-fraud sanctions in workplace shape companies' success
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The Portrait of a Family, as Painted at a Fraud Trial
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Governance comes at a price The Sarbanes-Oxley Act has led to new requirements and mushrooming costs even for companies outside the US
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Audit rules called no cure for fraud -- More scandals predicted: Tougher accounting laws foster elaborate schemes
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Martha Stewart might teach to cut down jail time
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SEC Seeks Psychologist To Boost Morale, Fight Burnout
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State sells properties of failed insurer for cash
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At (Your Name Here) Arena, Money Talks
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The fight to save HealthSouth from bankruptcy
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Firms cashing in on ID-theft fears
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Pipe Deals Smoking
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Forstmann founder faces Connecticut in court
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Nine months after bankruptcy, Zelenka Nursery thrives
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After 9 years in bankruptcy, Dow Corning looks to silicon
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Bankruptcy leaves retirees in a lurch
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Ex-McGreevey Aides in Inquiry Were Secretly Taped By Bankrupt Businessman, U.S. Says
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Fitch downgrades DVI asset-backed securities
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IPOs enter summer months on a cool breeze
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Dan River Gets Court Approval of Final DIP Order
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  Airlines:

Deal will save airline $45.1-million
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Airline industry predicts rebound
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Fuel prices muddle United's recovery
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Delta Air Lines hires law firm to weigh bankruptcy options, report says
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Delta Air Hires Restructuring Adviser Blackstone Group
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Delta hires consultant as it eyes bankruptcy filing
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Delta Air Lines hires bankruptcy firm
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Judge gives Avianca owners more time to mull bids
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Flying Finn has some 26,000 creditors
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Telecoms:

Trying to Revive Struggling AT&T
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Global Crossing gets first payment under loan
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RCN Makes a Bad Bet, Then Throws a Fit
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Accounting:

NTG auditor off the hook in civil case
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Adecco releases long awaited 2003 results after accounting probe
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Shell chief faces investors' wrath over reform at annual meeting
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Rainmaking + Retention = A Top Marketing Culture
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S&L Appeal at U.S. High Court May Boost Suits Seeking $16 Bln
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New AZ state law shields insurance, annuities
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Protected assets
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Taming the world's pension plan dragon
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Belt leads government's pension protector
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Bankruptcy sale of FastForward called 'a wipeout' for its investors
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Hospital awaits $7M bankruptcy loan
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Greg Garman, Bankruptcy attorney
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Conseco out of bankruptcy, but Florida woes remain
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Bankruptcy action has shifted to the mid-market, making Holland & Knight the top law firm and forcing turnaround advisers to scramble
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Search options before biting the bankruptcy bullet
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Innovation Factory files for bankruptcy
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Many Feeling Pinch After Newest Surge in U.S. Fuel Prices
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Bankruptcy no barrier to Conseco using naming rights
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U.S. Steps Up Push Against Online Casinos by Seizing Cash
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Health insurance yanked from retirees -- Just 28% of large U.S. firms still offer benefit
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Financial books go for broke
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Payday loans: Five reasons to think
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Wal-Mart Triggers Tumult in Toyland
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Pay up, Kansans, or face shame on the Internet
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AntiqueLand seeks Ch. 11
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InfraWorks secures $7.45M: Money will enable software company to rebound from Chapter 11 bankruptcy
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Greater Southeast pledges (delayed) imminent recovery
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Strip club's assets net $3.85 million in bankruptcy auction
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State ponders mortgage bill: Follows Capital Mortgage brokerage collapse
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Freedom Debt Relief: Pitching the last inning of client debt
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Solutia Gets 3-Month Extension
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Deadline looms for rival Coram bids
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Kum & Go bids for Git-n-Go stores
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Court hears Brennan plea on sentence Reduction of 3 years being sought
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Tax-Audit Defense Firm Says Federal Lawsuit Forced It to Shut Down
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New Bankruptcy Opinions
(3 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings
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Weird News
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UK:

A loss for the taxman that benefits clubs
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Late payment law has little impact
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Telewest creditors seen approving restructuring
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U.K. power plants draw interest
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Tories claim tax avoidance clampdown is unethical
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Argentina:

Argentina expected to propose revised debt restructure plan
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Argentina speeds up new offer to restructure debt
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Korea:

Hynix Creditors Accept Citigroup's Offer
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Creditors give thumbs up to Citigroup purchase of Hynix
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Outlook for Small Firms Worsens
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Hyundai-led group to buy S.Korea's Hanbo Steel
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Troubled Loans at Banks Rise by 14%
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South Africa:

Scorpions make deal with liquidator
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Canada:

Genoil Inc.: Proposed Creditor Settlement
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Money worries about retirement, polling shows
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International Utility shares plunge on steeper loss
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China:

Murky framework hampers bid to clear mainland's bad debts
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Deutsche Bank, Morgan Stanley Buy Soured China Bank Assets
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Mexico:

Iusacell misses $33.2m payment
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Israel:

American millionaire bids for Nahariya Carlton
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Australia:

Court losers pay twice in GST sting
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Thailand:

Thai TPI Creditors Mull Action Over Supreme Crt Petition
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France:

Alstom's banks sign rescue plan protocol
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Japan:

Troubled Kanebo asks lenders to waive 99.5 billion yen debt
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Kanebo wins rescue deal
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Kanebo to get 149 bil. yen aid from IRC, creditors
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The big-deal winner of Japan's recovery
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SMBC recovered loans day before firm sought protection
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Three former Japanese bank executives sentenced for concealing losses
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Poland:

Debt-Ridden Pozmeat Seeks Settlement With Creditors
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Russia:

Abramovich Wins Ruling to Regain Control of Sibneft
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Russia FinMin against out-of-court YUKOS settlement
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Yukos to Lose Majority in Sibneft
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YUKOS Core Shareholders Want CEO Out
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Yukos Leaves Analysts Guessing
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Subsidiary secures YUKOS liabilities
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Sibneft Earns Victory in Effort To Scuttle Merger With Yukos
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One more Russian oligarch on the way to prison
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Sibneft's credit watch lowered
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M Stanley eyes Russian growth
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Central Bank Sees No Trend In Sodbusinessbank Case
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Don't trust, don't verify -- Citibank reveals a secret about Vladimir Potanin
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End of the rose tinted spectacles
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Taiwan:

E. Sun bank to take over KBB
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Nigeria:

Nigeria pleads poverty
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