May 26, 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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Impression made 15 years ago leads to new job for bankruptcy lawyer
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Telecoms:

Integrated Telecom Express Announces District Court Decision in Bankruptcy Appeal
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Moody's says it may cut Intelsat to junk
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NextWave spectrum auction may ease cellular 'traffic'
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NextWave bankruptcy judge approves FCC settlement
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At Nortel, All the Straws Are Short
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Corporate Reform:

Chiquita boss cuts own bonus
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Computer Associates Offered $10 Mln to Settle Probes
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Proposals for independent Qwest directors rejected
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Suing Richard Grasso is Dangerous
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How to Make the Case Against Grasso
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Grasso lashes out at Spitzer and NYSE
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Spitzer's Grasso Suit Depends on Former NYSE Official
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Witness in Adelphia Trial Offended by His Pay
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Ex-Adelphia Executive Recalls Fake Payments
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SEC Probing Hedge Fund Investments In PIPE Deals
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Former Clinton Attorney Added To Stewart Team
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The Crimes of Sarbanes-Oxley
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Ugly court battle could do collateral damage
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US SEC penalties soar, reflecting new approach
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Hollinger Int'l agrees to pay half of Black's legal fees
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Steel:

AK Steel's plea to unions should be taken seriously
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Asbestos:

Owens Corning creditors want more
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Lancaster, Pa.-Based Building Materials Maker Still Bankrupt
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Federal-Mogul Posts $7.3 Million Net Loss For April
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Law:

Clifford Chance profits trail as US practice hit by weak dollar
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Partnership becomes TV star prize
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Law firm looks to overseas transcription and home working
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Orrick and Swidler to tie the knot in summer
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Selling Law Firms on the S-Word
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2nd Circuit Vacates $36.7M Attorney Fee Award -- "legal costs" does not include fees
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Judges go on strike
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N.Hydro, Glencore foil RUSAL Kaiser Jamaica alumina buy
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Hydro Aluminum sells 65% of Alpart to Glencore
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RusAl to Keep Fighting for Jamaican Plant
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Adelphia Communications Corp. might want some bulge-bracket Wall Street banks to showcase its cable business, but the strict rules of the bankruptcy code might keep many of them out of the running
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Securitization of Financial Assets
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IA Global Announces the Acquisition of Assets of QuikCAT Technologies, Inc.
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DT Industries to idle 129 workers
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Goldman Secretary Lived Like Investment Banker, Stole Millions
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Republic announces a five-year, $200 million financing agreement
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Buyer Beware: Credit counseling
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Trump Hotels bonds up on expected debt payment
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Airlines:

Major airline closings seen
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Song Hums With Free Tickets
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Arrow Air Creditors Agree to a Consensual Reorganization Plan
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Banking on airlines making a profit is a flight of fancy
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NWA pilots prefer pay cuts to job cuts
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Poll shows vast opposition to reopening flight attendant pact
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Accounting:

NRG hires KPMG as new auditor after PwC steps away
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The crisis at Shell
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Auditor to pay $50m to settle Raytheon investor suit
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A New Office Can Mean Making Do With Less
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Fleming:

Dallas Group Files to Terminate Fleming Exclusivity and to Acquire Core-Mark
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Investor group petitions court over Fleming's unit
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Fleming strategy given OK
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Fleming Companies, Inc. Receives Approval for Disclosure Statement
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Adelphia Posts $36.8 Million Loss in April
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HealthSouth Default Notice Issued
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Veteran Corporate Counsel Dorene Robotti Joins Clear Thinking Group as Senior Manager in Creditors Rights Practice Group
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Peregrine Systems Tries To Rebuild, Fix Old Problems
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CVCMA petitions court for Core-Mark bid
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Ex-NTG official given year in prison
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Chemetco transfer of millions runs into challenge
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To catch a cheat
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Famous Indian Brand Goes to Auction
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Schwab cutting commissions to meet low-cost competition
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Attorney with ties to Runzheimer indicted for bankruptcy fraud
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Judge gives Tidemark bankruptcy extension
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Barbecue franchisee files for bankruptcy

Bankruptcy court to handle lawsuit against National Audit Defense Network
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Angst prevails before Oneida Ltd. meeting
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Shuttered paper mill could reopen next week
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Eddie Bauer is Spiegel's last asset
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For Vernon Maxwell, A Legacy Tarnished
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Kaiser Aluminum Retirees Learn They'll Lose Benefits
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Jillian's to continue operating
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Jillian's banks on DIP approval
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S&P revises Caribbean Restaurants outlook
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New Bankruptcy Opinions
(1 new opinion today) 

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings
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Weird News
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UK:

Versailles founder faces jail for fraud
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ICAS warns of Scottish bankruptcy confusion
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Welcome Break finance arm calls in receivers
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Play director fears bankruptcy
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Dentons poised for 10m tax windfall after Asia closures
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Let's not lose out
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Nervous start to the year for UK business investment
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Livingston on brink of extinction after consortium pull out
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Dundee Creditors Set To Accept Deal
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Pay Your Victims 3.8m, Court Tells Goldfinger
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Remember all the panic about the changes to accounting for work in progress (WIP)?
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Italy:

Parmalat to announce final version of restructuring plan on Friday
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Parmalat case: Trial urged for 32
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Parmalat case: Trial urged for 32
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Parmalat Says AT Kearney Approves Turnaround Plan
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Bank bids to calm savers' nerves after Festival collapse
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Parmalat Australia future to be clearer
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Korea:

Scapegoat Sought for Credit Card Fiasco
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Overdue SME Loans Soaring
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Japan:

Outlook bleak for bank profits
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New Bankruptcy Law passed to protect staff of failed firms
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Mexico:

NYSE Suspends Trading In Corporacion Durango
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Russia:

Stepashin's Revenge Misses Its Target
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Audit Chamber Insists On Financial Violations In Chukotka
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France:

Alstom Rescue Agreed by EU and France
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Alstom to Sell Shares, Convert Debt in Financing Plan
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EU Uses Competition Teeth To Restrict Alstom Rescue
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Alstom presses on with rescue talks
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Australia:

Court sets price for Pasminco smelter
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Bill aims to overturn redundancy pay ruling
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Bankrupt granny removed from cruise ship
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Australia's KPMG Spins Out High-Profile Insolvency Unit
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Fast-lane lawyer on more fraud charges
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China:

Gang hired to kidnap debtor arrested
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Indonesia:

Prudential seeks out-of-court settlement
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Argentina:

Argentine Bonds Surge on Report Kirchner to Improve Debt Offer
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