August 3, 2001  

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

         
Rhythms:

Rhythms NetConnections faces liquidation
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Rhythms NetConnections Files for Chapter 11 Protection
(DBN Subscription Required)

Rhythms Makes Chapter 11 Filing;
Bondholders Sue Mpower Holding
(WSJ: separate paid subscription required)

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Fruit of the Loom is attempting to emerge from bankruptcy and buyers are interested
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Schlichtmann's Crusade: His Survival - 'Civil Action' lawyer loses appeal ruling, says ruling could have "devastating implications" for lawyers in fee disputes and debtors in bankruptcy
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Telecoms:

Winstar DIP pricing, fees attest to struggles
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Essential puts on fire sale - Offers list of customers for less than $1m as part of bankruptcy case
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Scrambling to stave off collapse, Lucent looks to sell PE, VC portfolios
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XO buys back debt at below face value
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Layoffs, Losses and Closures Continue in Telecom Sector
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Ricochet wireless service won't see rebound - Metricom plans to terminate it and lay off all but 28
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Metricom plans to shutter Ricochet
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Metricom Announces Receipt of Nasdaq Delisting Letter
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Legislation aimed at fixing tax trap for many with incentive stock options
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Impower Down 50 Percent Amid Bankruptcy Rumor
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Bankruptcy trustee has say on Coates Ex-girlfriend's claim could aid creditors
(DBN Subscription Required)

E-M-Solutions Signs Definitive Agreement to Be Acquired By Teradyne, Files Bankruptcy
(DBN Subscription Required)

Bondholder sues Mpower, tests new legal ground on zone of insolvency
(DBN Subscription Required)

Bowne & Co. Inc.: Bid of $44.5 million beats others in L&H Mendez auction
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Tidel Reports Status of Credit Card Center Bankruptcy and Refinancing Matters
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Bankrupt KPC Medical agrees on plan to clean up records
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Homeland’s bankruptcy announcement no surprise
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  Power Utilities:

California Legislators Accept Fewer Campaign Donations from Energy Firms
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A Rising Power in California
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Calif Gov Accepts Funds From Co He Hired,Sparking Debate
(WSJ: separate paid subscription required)

Expenses for PG&E Woes Still Mounting
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YellowBrix Finalizes Bankruptcy Purchase of iSyndicate
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Bibelot owners' assets frozen - Judge rules Weeses can't use or transfer millions offshore; Proof of fraud found likely
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Snow Valley files Chapter 11

Big five in grip of recession
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DIMAC Direct Files For Court Supervised Wind Down Of Operations
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Schwinn:

Huffy rivals gear up for Schwinn bankruptcy auction
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New suitor in Schwinn bidding war
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New bidder may join race for bicycle firm
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Cos. Interested in Buying Schwinn
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CNA Loses $1.7 Billion in 2nd Qtr
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Bridge on the road to see $11m maiden
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Aladdin managers reassure employees about corporate news
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Golden Books:

DIC raises bid for bankrupt Golden Books
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HarperCollins Joins Hunt For Golden
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Benefit fears latest chapter for Golden retirees
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Judge Postpones Ruling On Golden Books Sale
(WSJ: separate paid subscription required)

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Dotcoms:

Wall Street Web analysts may be too hot to handle
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They Blazed A Trail for Online Retail

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Palm Beach: Bankrupt Camayen Cattle optimistic about future
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New Bankruptcy Opinions
(2 new opinions today)

Bankruptcy Jobs

Bankruptcy Court Web/Pacer Site Directory

Bankruptcy Reform:

Bankruptcy Follow Up
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________________

Washington Group:

Washington Group Law Suit Seeks to Protect Creditors' Claims From Raytheon Company
(DBN Subscription Required)

Washington Group Sues Raytheon
In Latest Chapter of Legal Struggle
(WSJ: separate paid subscription required)

WGI widens charges against Raytheon
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WGI Drags Defense Contractor Raytheon Into Bankruptcy Court
(DBN Subscription Required)

Raytheon Response to Washington Group International Suit
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England:

Making it easy for cowboys to ride right back into town
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Professional firms in insurance crisis after Independent Insurance falters
(DBN Subscription Required)

Barclays chief dismisses recession scaremongers and calls for calm
(DBN Subscription Required)

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Japan:

Central Banker: No More Policy Steps Until Reforms Implemented
(DBN Subscription Required)

Rash of Job Cuts Rattles Japanese,
Deepening the Economic Gloom
(WSJ: separate paid subscription required)

Japanese Banks Set for Write-Off
(DBN Subscription Required)

Japan Banks Burdened by Bad Loans
(DBN Subscription Required)

______________

Australia:

Bank scavenges in dotcom ruin
(DBN Subscription Required)

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Korea:

Inchon could be Hanbo's second suitor
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Hong Kong:

Under new law, HK's overspenders rush to file for bankruptcy

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