March 10, 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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Enron:

Here's what happened to low-level Enron workers
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Houston art community tries to adjust to post-Enron world
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Oaktree, Gates join PGE buyout
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Gaming Rights: 3 applicants seek 10th riverboat license
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Fitch downgrades ORIX Capital Markets ratings
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Corporate Reform:

Martha's conviction could hurt Kmart
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Kmart waits out Stewart storm
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Stewart Rivals Look for Piece of Lifestyle Pie
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Personality Crisis
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GM Finance Chief Rails at Sarbox
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Beyond Martha Stewart
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Accounting:

N.Y. Feds Probing Newsday On Circ
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Shell's top executives didn't tell independent directors about reserve-accounting problems until the end of last year
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Tax havens exploited by US businesses
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Accounting-standards setters approved new rules requiring auditors to take a stronger role in assessing financial reporting
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McKesson Asks State to Refund Taxes Paid on Phantom Profits
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More auditing reviews in store
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Asbestos:

Halliburton Warning Fuels Asbestos Settlement Concerns
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Asbestos, Not Iraq, Weighs On Halliburton Credit Ratings
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Investors react cautiously to Halliburton liquidity warning news
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Steel:

Bankruptcy judge puts Weirton Steel sale on fast track
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Bankruptcy Judge Makes Health Care Benefits Ruling In Keystone Case
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Keystone Steel & Wire Officials In Bankruptcy Court
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Quirky array up for sale by Love Israel clan
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Reducing Risk and Increasing Investment: How Credit Insurance Can Prevent Unnecessary Losses
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Five charged in $48 million Florida insurance scam
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KCTS looks to cut debt by selling headquarters
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Auction of Non-Manufacturing Pillowtex Assets Continues
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Motion filed to dismiss Bala’s bankruptcy case
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Sheehan Hospital Files For Bankruptcy
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  Airlines:

Northwest pilots union considering airline's cost-cutting request
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CCAA 'sword' for Air Canada, WestJet says
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US Airways, a 'Survivor,' Once Again Struggles to Survive
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Normalcy still years off
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Bankrupt Great Plains Airlines Hopes to Resume Charter Aircraft Service
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Unions, Trinity still at odds over Air Canada pensions
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UAL to part with aircraft
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US lawmakers negotiate company pension relief
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Low-cost airlines turn up heat on int'l routes
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Airline Pension Plans Undergo Panel Scrutiny
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Law:

Tech firms cash in as lawyers plug in
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Piper Rudnick Expands to Serve National Clients
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Departure of New Litigation Chief, Two Others Stuns Broad and Cassel
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Energy:

Pacific Gas and Electric Company Moves One Step Closer to Emerging From Chapter 11
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Reliant vows to fight California charges
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PG&E has funds for bankruptcy plan / Financial backers to help with bonds, may pay creditors
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NorthWestern Bankruptcy Plan Due This Week
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Montana Power Company 'Significantly' Overcharges Customers, Economist Says
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Mirant sends new business plan to creditors
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Telecoms:

Global Crossing has profit on reorganization gains
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General DataComm Avoids Bankruptcy Again
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L.L. Bean won't make offer for Eddie Bauer, CEO says in e-mail
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Court Opts Not To Rule On Cone ; A Federal Judge Kicks The Request For A Stay Back To The Bankruptcy Court
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Outsourcing backlash and whiplash
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Bond rating agency places city on watch status
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Markets give up gains
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Martha, Oprah, B. Smith?
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Bankruptcy judge signs off on agreement with Nevada companies
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SkyTerra Communications, Inc. Executes Agreement for Purchase of Verestar Assets
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New Bankruptcy Opinions
(3 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Abacus to emerge from Chapter 11 bankruptcy
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UK:

Creators of Dolly almost bankrupt
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Bankruptcy imminent for PPL
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Equitable outcome
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Jail for boss who ruined company over call girl
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Korea:

South Korean Agency to Bail Out 400,000 Individuals
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Banks Encouraged to Reschedule Personal Debts
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France:

Alstom May Renegotiate Loans as Profitability Slides
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Mandrakesoft back from the dead
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Argentina:

Argentina agrees to repay $3.1b IMF debt
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Argentine Bondholders Skeptical About IMF Agreement
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United front on Argentina pays off
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Italy:

EU suspends probe into Italian bankruptcy soccer law
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EU appeased as Italy promise to amend bankruptcy law
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Italian Parmalat Founder Hospitalized
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Over 24,000 Small Claims Made Against Parmalat
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Japan:

Japan state body unveils $3.3 bln Kanebo bailout
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South Africa:

Krion's liquidator fights back
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India:

India saves US companies from going broke
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Australia:

Kaye strategies not realistic: analyst
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$6m for one fight... and David Tua doesn't even own his home
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China:

Citibank Takes Risk By Issuing Cards in China
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Russia:

First Meeting Of New Russian Government To Be Held On March 11 -- Bankruptcy agency abolished in cabinet shakeup
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