March 4, 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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Judge cuts Kroll fees in Malden Mills Ch. 11 case
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How Many Bankruptcy Lawyers Does it Take to ... ?
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Asbestos:

Fund would aid asbestos victims -- But few expect the Senate to approve the $114 billion measure
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Study Warns U.S. Faces Asbestos Disease Crisis
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10,000 a year will die of asbestos exposure
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Law:

Firms silent on sweetheart bank rates
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U.S. Seeks to Use Fraud Tactic in Tax-Shelter Case
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Skadden’s Xmas cheer
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Greenberg Traurig Lobbyist-Rainmaker Resigns Amid Fees Controversy
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Firms Awarded $1.3 Billion in Fees Over Exxon Valdez Disaster
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Allen & Overy caught up in fresh conflicts controversy
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Cadwalader exits continue as rival swoops on UK restructuring specialist
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Skadden transfers US restructuring partner to London
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Every business lawyer worth their salt should be watching law firm events in New York closely
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Judge Refuses to OK Settlement in Legal Malpractice Suit
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Hike in Dechert profits closes gap with NY rivals
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NY Bar attacks AIG chief after ‘terrorist’ jibe
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Judge considers permission to mount an oral sex defense
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Cleary Gottlieb star quits for Citigroup
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Skadden arm goes partnerless for three years
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Illinois bar begins law suit against paralegals
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Bingham breaks through the $1m profits barrier
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Shearman builds on both coasts
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White & Case adds to management board
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‘My secretary will call you’
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With the help of the internet, lawyers compete for business
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Land that I love
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UK firm bids to secure class action tie-ups in US drive
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In-House: Driving ambitions
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Battle brewing over Bess Eaton's coffee shops
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Lightyear Holdings is out of bankruptcy
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Till Debt Do Us Part
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Monsanto avoids sanctions, will take over Solutia environment cleanup in Sauget, Ill.
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Turnaround Management's March 12-13 Dallas 'Roundup'Includes Keynoters Wilbur L. Ross, Zale and American Airlines executives
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Bankruptcy Mill Operator facing Trial
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Well known Lauderdale lawyer files bankruptcy, facing inquiry
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More CEOs Forecast More Hiring
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Airlines:

UAL Shares Sink
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US Airline Debt Takes Off, But Investors Stay At Gate
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Telecoms:

Uncertain future for WorldCom
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U.S. telecom funds: hot enough to burn
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Bankruptcy court needs some fresh air
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Rivals challenge Bells to high court rumble
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Accounting:

"Geoffrey the Giraffe" owes taxes
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Vornado Operating Auditor Has Going Concern Doubt
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Steel:

New York fund offers $13M, plus obligations, for Slater Steel's Hamilton unit
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Union and ISG come to terms on tentative labour pact for Weirton Steel
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Letter from Delaware -- Corporate pension relief, critical vendor payments, buying while in bankruptcy . . .
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Corporate Reform:

WorldCom boss pleads not guilty
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Ebbers Sticks To Not Guilty Guns
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Why Bernie Before Kenny-Boy?
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WorldCom staff who lost their jobs cheer at indictment
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Bernard Ebbers: Folk hero to failure
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Old Man Rigas: Sly Fox Or Court Oddball?
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CEO, Chairman Roles Increasingly Being Split
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Adelphia Fraud Case Advances
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Prosecutors say more charges, defendants are on the way
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If corporate scandals taught us anything, it's to be cautious
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The Big Board notified about two dozen individual specialists that they are under investigation for potential trading abuses
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Stewart Case Is in Hands of Jury
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Debtors: Beware of the bad guys
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Footstar:

Footstar: Retailer squirms, and Reebok smiles
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Footstar Files for Bankruptcy Amid Declining Sales, Probe
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Footstar says court approves $300 mln in debtor funds
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More restructuring firms are chasing the middle market, where workouts aren't for the faint of heart.
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Payments to authority director investigated
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Boston: Appliance store to be liquidated
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FleetBoston chief awarded $16m in bonuses
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New Bankruptcy Opinions
(4 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Weird News
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Penthouse owner sets reorg plan
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Penthouse Empire's Rescue Revamped
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UK:

BCCI ruling brings privilege debate back into spotlight
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Concern at rise in student bankruptcies
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Students Go Bust
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Penrose report on Equitable demise will be published in full
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Oil giant BP kicks off sweeping law firm review
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The importance of managing lock-up and cash flow in the light of changes to the way law firm revenue is taxed
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City players prepare for Hollinger fees windfall
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Clifford Chance clients top the bill with £12bn buy-outs bonanza
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Duane Morris raids Dechert for partner
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Italy:

Bank of America Milan Executive in Parmalat Probe
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Parmalat banks suspected of skewing bankruptcy
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Parmalat Probe Eyes 3 at Bank of America
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Court returns control of Parmalat Brasil to parent
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Parmalat Chile seeks court protection from creditors
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Australia:

NAB to benefit as Elliott gets court victory
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Canada:

Quebec gives Gaspésia creditors some funding
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Argentina:

Argentina refuses to modify debt restructuring offer
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Argentina Cablevision Wins Creditors' OK For Debt Offer
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Poland:

Low-cost Silesian Air files for bankruptcy
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Korea:

Banks to offer jobs to card defaulters
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Japan:

No-hope nag wins hearts of Japan's racegoers
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Amusement parks on white-knuckle ride
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Greece:

Olympics organizers alter accommodation plans due to Royal Olympia bankruptcy
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Thailand:

Thailand in new TPI restructuring plan
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Russia:

Banks Struggle to Grease Wheels of Commerce
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