UPDATE 1-New charges to be filed in Refco case - prosecutor
Forbes - Refco and 23 affiliates filed for Chapter 11 bankruptcy protection in October 2005, just a few months after its initial public offering and a week after it disclosed that Bennett hid $430 million worth of bad customer debt owed to the futures broker
Source: www.forbes.com

Defaults to Quadruple as More Companies Cut to Junk (Update1)
Bloomberg - The last time so many companies were cut to junk was after WorldCom Inc. in Jackson, Mississippi, and Adelphia Communications Corp., then based in Coudersport, Pennsylvania, filed for bankruptcy in 2002. Anticipating Failure
Source: www.bloomberg.com

Report: Federal-Mogul retracts date for Ch. 11 exit
Detroit News - Bankruptcy Judge Judith Fitzgerald in Pittsburgh last month approved Federal-Mogul's reorganization plan, which seeks to resolve as much as $9.4 billion in asbestos claims. The Southfield-based company used asbestos, a heat-resistant material that
Source: www.detnews.com

Aid saves Palestine from bankruptcy
Daily Telegraph - The pledge, by 68 states and 20 international bodies at a conference in Paris, surpassed even the hopes of the Palestinians who had asked for 2.8 billion. Salam Fayyad, the prime minister of the Palestinian government, said the pledges represented
Source: www.telegraph.co.uk