May 19, 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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Law:

Firm Names Tax Shelter Clients
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Court Orders Tax Shelter Clients Named
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NY Court Grants Preliminary Approval of Tax Shelter Class Settlement
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Clifford Chance hit by West Coast defection
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Cleary Gottlieb scoops fourth Linklaters hire
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The advantages of project-based temporary staffing
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$1.3 Billion Fee Upheld in California Tobacco Case
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Steel:

Cliffs Announces Assumption of Weirton Sales Contract by ISG
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International Steel Group Completes Purchase of the Assets of Weirton Steel Corporation
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Supreme Court Rules on Interest Rates for Chapter 13 issue
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Fleming seeks OK to settle with pension agency
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Fleming will miss deadline for financial filing
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Equipment sale a major blow for plan to reopen East Liberty bakery
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Toys R Us CEO Getting Set for Price War II
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Corporate Reform:

Catch her next on Court TV - Martha's Show Goes On Hiatus
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NYSE Hires New Director of Enforcement
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Judge Rejects Mistrial Bid in Latest Tyco Case
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3 investment banks penalized over IPOs
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Rigas Lawyer Attacks Witness' Credibility
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Law Professor Testifies in Tyco Trial
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"It's a never-ending drip" at Nortel" -- And things will likely worsen before they improve
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QRS Music Technologies, Inc. Intends to File a Motion to Vacate Judgment in Baldwin Bankruptcy Matter
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Fed: Rate Rises Coming, But Slowly
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Footstar to sell 27 Puerto Rican stores to Novus
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Hoover trial begins
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Con man or go-to guy?
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After The Bust -- Buried beneath collapsed financing and bottom-dollar interest rates, manufactured home companies have begun clawing their way back to better times
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Adelphia revives Time Warner's appetite for expansion
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Garden Ridge turns to home decor
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Closed clinics' patient files due to be destroyed
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Daytona Beach: Workers left in lurch by contractor
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Novo Networks Has Going Concern Qualification
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Accounting:

Healthy pay rise for specialist accountants
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FAF Blasts House Stock Options Reform Bill
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Restricted Stock to Counter New FASB Rule
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A Good Old Habit, or Just an Old One? Preferential Tax Treatment for Reorganizations
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House Subcommittee Votes to Dilute Stock Option Rule

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  Airlines:

Canadian Auto Workers Gives Air Canada Counter Proposal
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Air Canada on the brink as union rejects cutbacks
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CAW weighs final airline offer
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CAW, Air Canada don't agree
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Air Canada, union discuss cost cuts
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Air Canada and CAW exchange cost-cut proposals: stalemate 'entirely possible'
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CAW, Air Canada negotiators agree to meet again over demands for wage cuts
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Hawaiian workers get $1.9M
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Delta to announce management changes
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Delta names 7 'chief officers'
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Alaska Air Group Chairman Seeks 'Weatherproofing' From Airline Industry Instability
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VP of American Airlines Base Recalls Last Year's Close Call With Bankruptcy
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Airline stock low as investors meet
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Aid for UAL won't fly?
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The Airline Debate Over Cheap Seats
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Asbestos:

Judge defends his work on asbestos cases -- calls his removal by appeals court 'profoundly impractical'
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Federal Judge Removed From Three Asbestos Cases due to 'Perception of Bias'
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S&P may still change Halliburton's ratings
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Insurer Does Not Owe A Duty To Warn Workers of Potential Asbestos Exposure
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When Software Vendors Go Belly Up
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Enron:

Enron transcripts shed light on ploys in California
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Governor Shifts Story On Enron Phone Call
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Telecoms:

AT&T-IBM-Intel wireless venture to suspend operations
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Marsh & McLennan Companies to Acquire Kroll Inc.
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Rates don't hinder sales of used homes
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Allen ready to turn over the keys to the Rose Garden
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Chrysler fires back at ex-dealer -- "massive fraud scheme"
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'Vice' star is putting Aspen firms in vise grip
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Insurance company to move out of Met Mortgage building
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New Bankruptcy Opinions
(5 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings
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Weird News
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Turnaround Consultant Launches Buyout Fund
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UK:

Amicus Urge Government Changes to the Pensions Bill
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Pensions help fund will only 'assist'
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MPs want fast deal for 60,000
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Pension bill warning
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Ex-Lions director faces loss of lotto millions
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Lottery Winner's 10m Gamble
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Fight on for justice
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Creditors to decide club's fate
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'Anomaly' as Scots avoid bankruptcy boom
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Brazil:

Brazil to Sell Debt Before Biggest Maturity in Decade
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Canada:

Cabletel to sell its last remaining operating unit
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Japan:

Japanese economy is galloping
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Bad debts 'damage Japanese bank'
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Japan April Corp Bankruptcy Cases Down 21.5% On Year
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Italy:

The Parmalat scandal has made fundraising more difficult
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Parmalat UK hived off
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Vietnam:

Bankruptcy bill under debate
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Korea:

S Korea receives 11 bids for Daewoo Heavy
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Effect of China Shock Loom Large
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Singapore:

All hands on deck -- Banks and financial institutions see fair weather ahead and are hiring again
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Unlock the cash within -- companies facing bankruptcy haven't run out of sales, they've run out of cash
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Germany:

German distressed debt rises
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Indonesia:

Indonesia drafts law to boost bankruptcy protection for insurance firms
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France:

Paris ready to take bold step with Alstom
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Russia:

Yukos Share Jitters Resume On Reheated News
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Yukos notified on possible default of its another loan worth $1.6 bln
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