June 7, 2004 

Daily Bankruptcy News

Brought to you by BKINFORMATION.COM - The Source for Business Bankruptcy Information on the Internet 

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Enron:

Ex-officials first to be tried in fraud case
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First Enron Criminal Case Heads to Trial
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Judge hopes to find impartial Enron jury despite publicity
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Disgraced Enron executives go on trial for first time
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Fastening on Fastow
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Enron faces suit in California over rigging power market
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What the first criminal trial's all about and what barges floating off the coast of Nigeria have to do with Enron's troubles
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Summary of FBI interview with Enron's former chief financial officer, whose account may help defendants
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Energy:

Mirant Reports First Quarterly Profit
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Enron's old nemesis launches energy hedge fund
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Asbestos:

Halliburton Keeps an Army of Outside Lawyers Busy
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Bill to Limit Damage Awards in Miss.
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Congoleum Chapter 11 Plan Hearing Reset For Sep 9
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Wolin to step down at month's end
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Waveland waits to see if bet to beat bankruptcy paid off
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Jeunique Files for Chapter 11 Bankruptcy
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A Dream Foreclosed: Falling prey to predatory loans
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More high-income students taking on debt
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HealthSouth's new CEO ready for challenges he faces
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AmeriDebt:

Credit counselor AmeriDebt seeks bankruptcy protection
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Credit counseling company files for bankruptcy
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A Big Credit Counselor Files for Bankruptcy Protection
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AmeriDebt Files for Chapter 11 Protection, Will Continue Providing Credit Counseling Services to Current Clients
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Accounting:

Forensic accountants take lead in variety of high-profile issues
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Rush to Judgment: Whither Arthur Andersen
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Deloitte among four to face tribunal over Semple scandal
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KPMG's Chicago Office to Grow by 10 Percent

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Corporate Reform:

Fraud's Fallout
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US prosecutor seeks probation for ex-Rite Aid exec
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Judges Unpredictable When it Comes to Sentencing White-Collar Criminals

Federal Prosecutors Consider Retrials for Former Qwest Executives
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Big Perks Put Seven CEOs in a Whole 'Other' Club
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SEC Toughening Up on Noncooperation
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Sarbanes-Oxley Raises the Stakes for Investment Bankers' Document Retention Policies
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J.C. Penney, Sears take diverse paths
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Kmart rebirth taxes workers
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What I didn't know about someone else's bankruptcy claim
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California medical group back from bankruptcy
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Fourth Circuit Prohibits Assumption of Software License

In Bankruptcy, but Avoiding Foreclosure
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Boston: Debt piles on developer
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Landlord's Claims for Maintenance and Removal Obligations Under Rejected Lease are Prepetition, Not Administrative, Claims

Tyson Broke
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Liquidation of Fargo company, Racing Services Inc., delayed for potential buyer
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New Weathervane Retail Files For Chapter 11 Bankruptcy
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Convenience store chain files for bankruptcy protection
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Pipe Dream or Problem?
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Cornerstone creditors hatch deal
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Cable operators outline possible Adelphia bids
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Exclusivity Period for Factory 2-U Stores, Inc. Extended Through December 3, 2004; Six-Month Extension Granted With the Support of Creditors' Committee
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  Airlines:

Airlines May Lose Combined $3 Bln on Higher Oil Price
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EasyJet Plans Fare Cuts to Maintain Market Share
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Turbulence ahead
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Oil prices to hit airline profits
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United seeks extension to bankruptcy
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UAL's Prospects for Aid May Dim as Fuel Costs Rise
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United Airlines sees operating profit
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United expects decision soon
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Pilot pay clouds Delta's financial horizons
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Delta's recovery plan runs into a headwind
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Putting brakes on pilot pay only a start for Delta
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Analysts predict Chapter 11 for Delta
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Copa Airlines gives up bid to acquire Colombia's Avianca
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Hawaiian Holdings Stock Continues To Rise
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Pilots pitch Air Canada to public
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Air Canada traffic jumps 25 percent in May
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Air Canada On Track To Exit Bankruptcy Protection Sep 30
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Nation's airlines sinking deeper into financial trouble
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Hit hard by low-cost airlines, American tries to fly like one
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Law:

Think before you text: wireless messages show up in court
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A Top Lawyer Who Kept Out of the Limelight, Until Now
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Lawyer to Divvy Up $60.7 Million in Fees
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Offshore Outsourcing: Coming Soon to a Law Firm Near You?
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Summer Associates, Settling In
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Torching lawyers' cars earned him 24 years in prison
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When it comes to attracting top lawyers, D.C. is not as cash-friendly as New York, but recruiters are convincing recent grads the area has charms, and perks, all its own
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Baker Donelson endures growth, change in leadership
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More law firm offices opt to dump the paper chase
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How to turn billing into a creative marketing opportunity
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Breaking the law barrier: Women still struggle to reach partner status at law firms
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More firms put the 'service' back into 'legal services'
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Retiring the billable hour: It's time to do things differently
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Mid-sized firms manage to avoid merger mania
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Appeals Court Nominee Let His Bar Dues Lapse
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Sarbanes spurs lawyers: White-collar defense work 'most active in 30 years,'
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Wilmer, Hale make merger official with June 1 kick-off
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More firms are commandeering partners to serve as general counsel
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Chanin woes mirror Ch. 11 slowdown
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Vulnerability rises with eased credit
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Yacht-maker Sprang A Leak
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Defendants in money order scheme go on the offensive against officials
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As we bloat with debt, enablers egg us on
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Broke Biz School Stiffs Workers
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248,000 New Jobs Surge Into Economy
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Jay Jones -- CFS -- A Long Way Down
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Totally Spent
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Secretive millionaire fuels Florida homestead push
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Bankrupt Co-Op Sues Vendors - Attorneys for Farmland Are Negotiating With Some of the Bondholders Also Sued
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Pegasus Satellite Lists Largest Unsecured Creditors
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Urban Equity fraud case closer to grand jury
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Shareholders amend lawsuit against DVI
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San Antonio Symphony Making Comeback
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HealthSouth Extends Consent Solicitations Through June 11, 2004
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Cone Prepares Liquidation ; Textile Company Issues Plan for Distributing Proceeds From Sale to Wilbur Ross.
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New Bankruptcy Opinions
(No new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings
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Weird News
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Telecoms:

Nortel gets vote of confidence - at least on bonds
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Firm's bankruptcy crashes customers' Internet service
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Cox Calls Adelphia Auction a 'Mess'
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Consumer Borrowing Probably Rose by $6 Billion, the 13th Monthly Increase
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Tenth Circuit Bankruptcy Appellate Panel Precludes Creditors' Derivative Actions on Behalf of Bankruptcy Estate

First and Eleventh Circuits Split Over Applicability of Rule of Explicitness

D-Day Group Hopes for Boost From Memorial
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Trustee Opposes DT Industries Employee Bonus Plan
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National Benevolent negotiating sale of some assets
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UK:

Why you're still in shackles after your cut-price mortgage ends
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Dolly the sheep firm rescued saved from bankruptcy
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Green undecided over next M&S move
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Million 'in credit card debt danger'
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Debt crisis may be ebbing
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Misery for ex-bankrupt
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Vulnerable debtors are being guided into expensive individual voluntary arrangements (IVAs)
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All dressed up ... and no way of clearing our debt
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Law Society to review Freshfields ruling
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Freshfields speaks out as dust settles on M&S ruling
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Freshfields conflict
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Law firm security worries
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Canada:

Clinic goes bankrupt, patients left stranded
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Les Boutiques San Francisco gets new leases with Ivanhoe Cambridge
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Japan:

Japanese stock market roars ahead
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Is Japan Back?
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Kanebo's rescue: cosmetic surgery or a new lease on 'beautiful life'?
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Ailing Kanebo looks to trim liabilities on a huge scale over next three years
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Japan in final stage of loan disposal
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Japan enters final stage of bad loan problem
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Italy:

Some Parmalat creditors get cash
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Insolvent Parmalat meets with creditors
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Parmalat Shows Details of Insolvency Plan
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Parmalat Pacific Loss Balloons To A$166 Mln In 2003
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China:

Chinese municipal govt's investment unit declared bankrupt
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Chinese Investment Company Declared Bankrupt
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India:

Debts drive Indian farmers to suicide
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Australia:

Penfold saved but creditors fuming
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Tua claims $3m of mansion
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Argentina:

Argentina Leader Sparks Furor with Plot Talk
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Don't Cry for Argentina
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Multicanal battles U.S. creditors
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Korea:

Over 160,000 credit delinquents bailed out
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Mexico:

Creditors Win Control of Cydsa After 2-Year Tussle
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Stay blocks suits against Durango
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