March 3, 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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High Court Clarifies Business Owner Pension Participation
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Court: Owner can be in pension plan
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Bankruptcy No-Show
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Update: Hood v. Tennessee Student Assistance Corp.
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Courts Split Over Forum for Insurance Suits -- Judges differ on handling of cases stemming from Reliance takeover
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NOLs Estate Property? BMA, Loan Assoc Join Forces On Net Oper Loss Court Orders
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Corporate Reform:

Fraud probe snares WorldCom's Ebbers
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Text of the indictment
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Ebbers turns himself in at FBI office in New York
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What Enron, WorldCom, Tyco Fiascos Can Teach Us
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'90s Highfliers Bring Chaos to Courts
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SEC civil charges against Sullivan
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WorldCom Ex-CFO Sullivan Also Settles SEC Fraud Charges
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Lawyer: Rigas son focused on service, not finances
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Rigas son called out of loop
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Rigas Clan Bashed As Team Plays Idiot Card
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Ebbers indicted in $11B World-con
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WorldCom Prosecutors Say Ebbers Began Fraud Long Before Debacle
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WorldCom's Ebbers faces jail after US files fraud charges
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Former CEO indicted in WorldCom scandal
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Hubris and the Fall of a Telecommunications Empire
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Former WorldCom CEO Ebbers To Be Arraigned Wednesday
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Ex-WorldCom chief charged with fraud -- former CFO Sullivan key prosecution witness
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Timeline of History of MCI
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Ebber's Personality Seen as Liability, Asset
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Milestone for US as Ebbers is charged
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Targeting the Top in Corporate Crime
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Ebbers Hit With Fraud Charges
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Former Worldcom Head Could Lose Everything
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Telecom Firm Left Its Employees Frustrated, Jobless
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On sale: the house WorldCom built
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Dynegy exec's possible sentence raises eyebrows
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Scrushy takes case to television
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'Good thing' if jurors acquit Stewart, defense says
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Scandal scorecard
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David Boies' Testimony in Tyco Case Spurs Bid for Mistrial
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Calling execs to account
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Aesthetic Technologies, Inc. Emerges From Chapter 11 Protection With New Owners
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An Impasse Between Agency and Bankruptcy Jurisdiction

Claims Scheduled as Undisputed, Noncontingent, and Liquidated Cannot Be Extinguished Through Bar Date Order

Supreme Court Limits Payment of Attorneys' Fees In Chapter 7 Cases Converted from Chapter 11

Supreme Court Holds that the Time Limit for Objecting to A Debtor's Discharge Is Not Jurisdictional

Legislative Update

Bankrupt Graphics Firm to Call It Quits
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Germany's Beate Uhse In $62M Bid For Penthouse Magazine
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Dunkin' Donuts considering bid against Tim Hortons for 48-store U.S. chain
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  Airlines:

U.S. loan guarantee United's biggest hurdle: CFO
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UAL CFO: Loan Guarantee Key But Not Make-Or-Break Factor
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United confident amid loan questions
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UAL, Louisiana Reach Settlement On Prior Tax Issues
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A Sucker's Rally in UAL
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Worker Morale Plummets at United Airlines after Move to Cut Retiree Benefits
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More Hawaiian bids in store
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Allied investors offer $30 million for half interest in the airline
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Hawaiian Airlines Employee Files Ch 11 Plan For Company
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County mounts fraud inquiry in $100 million Money Mortgage scam
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SEC Finds Complaints Down Except For Bankruptcies, Fees
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Greenspan Says Rates Must Rise
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Telecoms:

Court ruling force many small and midsize telecom firms into bankruptcy
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Bankruptcy judge orders investigation of Evansville telcom
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AT&T set to start price war with MCI
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Judge Rejects Touch America Shareholders' Representation in Bankruptcy Court
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Enron:

Gag Order Lifted: Enron Examiner Speaks First to the Detroit Economic Club, March 15
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Steel:

Weirton Steel Moves to Cut Health Care
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ISG builds steel giant from skeletons of bankrupt rivals
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Accounting:

IRS Aims to Soup Up Audits
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Feds Probe Former Nike Official For Accounting Fraud
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Texas Petrochemicals LP Announces Signing of Equity/Debt Investment Agreement
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Creditors swat back at Oregon Arena
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Bankruptcy filing morally wrong
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Blank Rome Names New Bankruptcy Partner
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HomeGold lawyers barred from using fund
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Barclays withdraw offer for Hollinger
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Don't count out Barclay brothers
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Deutsche Bank Lifts Interest, Fees on Invensys Loan
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Layoff pace slows, but job outlook remains unclear
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Levi's struggles continue, despite turnaround efforts
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KPS lands $404M in commitments
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Leaseholders again challenge Snyder's Chapter 11 plan
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April 1 target for opening Horseshoe
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Footstar Files Voluntary Chapter 11 Petition to Implement Financial and Operational Restructuring
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Footstar Files Voluntary Chapter 11 Petition
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Tentative Schedule Set for Sale of Pillowtex Assets
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Rival SunCruz suitors miss the boat
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Mississippi Chemical Announces Sale of Potash Assets
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New Bankruptcy Opinions
(4 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Law:

New rule requires lawyers to turn in bad judges
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Allen & Overy partners vote in Clifford Chance’s Porter
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Surge in M&A Work Has Firms Staffing Up Again
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NY Practice Leader, Two Partners Defect
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Wellness Programs Turn Focus to Law Firm Employees' Health
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Vancouver, Wash., Law Firm to Move to New Downtown Offices
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Western United, Mortgage Met's largest unit, under state control
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Western United of Spokane ordered into receivership
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DVI Gets OK On Incentive Pay, Awaits Probe Results
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UK:

Government Won't Pay Up On Pensions Of Bust Companies
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Anger grows over pensions compensation
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British Energy debt rumor sparks new interest
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Italy:

Parmalat probe fingers US bank employees
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Mafia link to Parmalat, Cirio, 18 held
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Failed Italian company rejects claims of selling Australian business
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Bank of America says 2 quit in Parmalat probe
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Deloitte Touche Vows to Defend Partners in Parmalat Case
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Parmalat Brazil To Present Revamping Options Wed, Source
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Net widens in Parmalat scandal
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Parma Prosecutors Seek June Indictments
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Canada:

Doman creditor protection extended to April 5
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Russia:

Thursday planned govt. session on bankruptcy reform canceled
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India:

GM offers Daewoo India lifeline
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Korea:

Defaulters to Get No Free Lunch Under New "Soft Touch" Insolvency Legislation
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Argentina:

Bondholders to pull out of Argentina debt talks
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South Africa:

RAG liquidator in court today to seek repayment of dividend
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Sun Air crashes with R4.5m debt
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Thailand:

Thai TPI Debt Planner Asks To Cut Debt To $1.6 Billion
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Greece:

Greece's Royal Olympia Cruises To Resume Cruises March 8
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