November 15, 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

         
Bankruptcy Reform:

Congressional bankruptcy panel convenes
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U.S. House, Senate meet on stalled bankruptcy bill
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Financiers demand global insolvency reforms
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Berlin mills’ lawyers seeking fees first - Lawyers for bankrupt mill owner American Tissue Inc. want their $400 an hour now, ahead of two New Hampshire communities owed millions in taxes
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Telecoms:

Globalstar: Broke But Not Out
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Market cheers Microcell's financing - Dilution a concern
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Nasdaq, Globalstar And Unequal Treatment
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Telemonde lacks funds to meet key payment
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Globalstar to file for bankruptcy in 2001
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Teligent Will Cut 300 Jobs, 7,000 Clients
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Bankruptcy Court approves Teligent's layoffs

GTS in Chapter 11 move to allow sale to KPNQwest
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Partnership finalizes deal for GST's Hawaii assets
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Telecom Industry: 'Minimum of 77,000 Jobs Lost' if Tauzin-Dingell Passes
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Time running short for NextWave deal
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Classic Comms.lists assets. debts in bankruptcy filing
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Airlines:

US airlines win extension on tax deadline
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Pilots possible bidders for Canada 3000 assets: Air Transat says government help no longer needed
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Back to airline basics
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Canada 3000 creditors fight over planes: Aircraft lessors battle with airports
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No easy fix
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MedQuist Buys Lernout&Hauspie's Medical Transcription Ops
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Groups Slam Payday Lenders, Bank Deals
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Asbestos:

The need for damage limitation: The US legal system cannot cope with claims for asbestos exposure
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Federal-Mogul Report Shows Asbestos Claims Top Insurance
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Restructuring . . .

Global Crossing to cut another 1,200 jobs
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Casio Computer to cut 3,000 jobs, posts first-half loss
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Comdisco:

Court clears SunGard-Comdisco
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Judge clears way for sale of Comdisco unit to SunGard
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SunGard Prevails in Antitrust Case
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  Burlington Industries Is Expected
To File for Bankruptcy Protection

Chemical Industry Inspires Multiple DIP Facilities?
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Battlin' Bob
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Metals USA:

Metals USA files for Chapter 11 bankruptcy
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Metals USA Files Voluntary Chapter 11 Petition
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Bankrupt American Alloys picks higher bidder - Plan to keep jobs sways decision from lower offer
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Bankrupt hedge fund manager Berger ordered to repay $20 mln
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Phar-Mor reports $45 million loss for first quarter
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Dotcoms:

Perils of a Dotcom Wind-Down
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Cyberrebate.com: Shopper goes after credit card companies for promised rebates
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Excite needs buyer soon
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Dot-coms disappear; nostalgia remains
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Exodus Communications Posts $2.77 Billion Net Loss In 3Q
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Power Utilities:

CalEnergy files $100 mln suit against utility SCE
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Jore Wants Bankruptcy Court OK To Sell Assets For $61.1M
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Steel:

After months of losses, steel maker shuts down
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Geneva Steel Shuts Most Operations
Amid Immediate Threat of Insolvency
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Geneva Steel closing plants, laying off workers
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Enron officials admit some investments were mistakes, plan sale of money-losing assets
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Federal-Mogul Posts 3Q Loss of More Than $800M
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Construction Equipment Rental Firm in Florida Says Bankruptcy Filing Possible
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Finova:

Huge loss is latest of Finova bad news
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FINOVA reports $850 million September loss
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Lernout & Hauspie Advises Creditors Of November 21, 2001 Deadline For Filing Claims
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Florida Economy, Quality of Life Seems to Worsen Throughout 1990's
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Dynatec Intl:Bankruptcy 'Most Likely Required' Near Term
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Polaroid Seeks Extension of Filing Deadline for Third Quarter Report
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Hawaii: Owner of Ethel’s shutting its doors
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Brea, Calif.-Based Furniture Company Purchased in Bankruptcy Court
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New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Jobs
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Bankruptcy Court Web/Pacer Site Directory

Law Firm Restructuring:

The Collapse
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Billings branch of Minneapolis law firm Dorsey & Whitney closing; 10 lawyers, 10 others affected
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Defaults Drop In October, '98 Bonds Flop, 23% Defaulted
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CMI Industries Sees Filing Voluntary Chapter 11 Thursday
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Guitar maker completes acquisition of bankrupt piano maker
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Frozen terrorist funds may not thaw easily; Who gets the money?
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AppliedTheory Says Doubts Ability To Remain Going Concern
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Economy:

Taliban Retreat Sparks Hope for Economy
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Is the Fed running low on ammo?
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Luxury Tourism Hit in Europe
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England:

Bank of England Optimistic Britain Will Avoid Recession; Unemployment Rises
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Byers comes under fire over Railtrack funding
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Byers agrees to publish minutes of Railtrack talks
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Japan:

Bankruptcies hit postbubble high
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Japan braces for more bankruptcies

No end to Japan's gloom
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Russia:

Cabinet Steps to Rid Bankruptcies of 'Criminal Hue'
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Korea:

Hanbo sale hits another setback
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China:

Goldman, BP, Other Advisers Give Guangdong Post-Bankruptcy Tips
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Moldova:

Moldovan parliament passes bankruptcy law
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France:

Angry Workers of Bankrupt Moulinex Workers Make Serious Threats
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Argentina:

Argentine Companies Struggle to Pay Debt as Nation Defaults
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Mexico:

Fears grow of Pulsar default
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Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C.  You can reach us at 281-242-6208 or at admin@bkinformation.com 

Copyright 2001  [BKINFORMATION.COM]. All rights reserved.