October 31, 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

         

Power Utilities:

Court blocks SoCal Edison bailout
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Edison-California Accord Blocked by Appeals Court
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SCE says appeals court temporarily stays CPUC pact
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Supreme Court clears way for PG&E to sue state
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Counties ask for voice in PG&E bankruptcy - Creditors panel has mostly energy traders
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Leading Agricultural Groups Voice Strong Opposition To PG&E Bankruptcy Plan
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Law Firm Restructuring:

Perkins Coie Cuts 7 Bay Area Corporate Associates
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Telecom:

Telecom Collapse May Top Savings & Loan Failures
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Equalnet Communications - UST Requests Chapter 7 Conversion
(WSJ: separate paid subscription required)

Assets of Broadband Providers Put on Auction in Tulsa, Okla., Area
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Chase-Motorola Dispute Over Sour Loan
To Iridium Is Headed for Federal Court
(WSJ: separate paid subscription required)

At Home bondholders say proposed sale to AT&T is 'on the cheap'
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'Pay to Stay' Bonuses Catch On
At Troubled Telecom Companies
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__________________

Company Bankruptcy Can Mean Big Trouble for Board of Directors
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Dotcoms:

Consumer Dot-Com Shutdowns Up Sharply
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Auction puts the gavel down on a dot-bomb
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Auction dispenses with last of Webvan's assets
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Webvan continues auctioning away its past
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Are Dying Dot-Coms Selling Your Personal Data?
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Webvan asset auction "overwhelming"
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________________

Shared Tech Gets Final Court OK To Use Cash Collateral
(WSJ: separate paid subscription required)

American Classic Voyages Wins OK To Abandon Cruise Ship
(WSJ: separate paid subscription required)

Lernout & Hauspie:

Auction set for main L&H assets
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Seagate Tech Trust Sues Korean Banks Over L&H Fraud
(WSJ: separate paid subscription required)

__________________

Mariner Post-Acute Seeks 90-Day Exclusivity Extension
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Bankruptcy Court Postpones American Eco Plan Confirmation
(WSJ: separate paid subscription required)

Family buys assets of Krause's Furniture - Three brothers plan to reopen stores and help customers who lost deposits after retailer's bankruptcy
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When Is a Payment a Bribe? - Texas executives launch novel court fight over foreign corruption law
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Chemetco Inc. will close plant and file for bankruptcy
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Comdisco:

HP gets Comdisco disaster unit
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Comdisco to Pitch Hewlett-Packard as Buyer of Disaster Recovery Unit in Court
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Comdisco aims to sell unit to HP, SunGard opposes
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HP to buy Comdisco's disaster recovery business
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_________________

York Research:

Meltdown looms for York Research
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York Announces Default on Portfolio Bonds; Failure of Negotiation with Creditors
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Airlines:

US Airways Posts a $766 Million Loss
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National Airlines reaches extension deal
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Continental Posts Profit Aided by Grants
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Big Charges Inflate Loss at US Airways
As Revenue Slumps Following Attacks
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National Airlines Considers Financing
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Atraxis Cash Crunch Threatens Airways
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________________

Economy:

Stand by for dismal economic data
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Equity Office Sees Recession Until At Least Mid-2002
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Weak Consumer Confidence Numbers Add to Market's Slide
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Terrorist Attacks Push Economy Into Recession; Recovery At Least A Year Away, Say Lenders
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Economy May Begin Recovery Later in 2002 - Or 2003: International Borrowers and Smaller Businesses Less Likely to Obtain Financing, Lenders Say
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Ripple Effects From Attacks Begin to Take Toll on Companies
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Restructuring . . .

The Layoff List
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MTV Cuts 450 Jobs Amid Ad Downturn
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Providian hires Goldman for sale, financing
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___________________

HEL Chargeoff Rate a Record
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Independence to sail into sunset - Maritime Administration seizes the ship
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USi Negotiates With Creditors
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Where Donald Trump Sees Trouble, Bondholders See Threats
(NYT: separate free registration required)

Sulzer Medica Says US Court Lifts Ban On Lawsuits - Bankruptcy Fears Increase
(WSJ: separate paid subscription required)

Extra credit: Pinched homeowners are finding shelter in modified loans
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Tower Records Hopes to Shake Off $90 Million Loss
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Field for Polaroid narrows - Olympus, Fuji considered among front-runners
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Consumer Credit Counselor Discusses Dramatic Rise in Debt
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New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Jobs
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Bankruptcy Court Web/Pacer Site Directory

1st Bids Due On Superior Federal
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Steel:

Steel Imports Down Sharply in Sept.
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Judge in Duluth, Minn., Stops Attempt To Delay Sale of Steel Company Plant
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Cleveland-Cliffs, Allete Close Buy Of LTV Mine Assets
(WSJ: separate paid subscription required)

Indiana county has debt woes over steel bankruptcy
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Bethlehem Steel Filing Shows $50.4M Cash At Sept. 30
(WSJ: separate paid subscription required)

__________________

Japan:

Japan's Jobless Rate Surges
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Unemployment in Japan Now Exceeds Postwar Levels
(NYT: separate free registration required)

Japan faces more corporate collapses
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Hitachi and Matsushita slash full-year forecasts, slip deep into red
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Yakiniku chain files for bankruptcy over mad cow
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BOJ's gloomy outlook demands additional economic measures
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_________________

Norway:

A new plan emerges to save Kvaerner
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Rescue offer rejected by group's chief
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Kvaerner Gets Emergency Financing
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Confusion Surrounds Kvaerner Rescue Plan
(WSJ: separate paid subscription required)

________________

Argentina:

Argentina default would hurt Spain, US banks
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_________________

Canada:

Ottawa to pay 70% of abuse settlements - Churches say plan rejects months of talks, will lead to bankruptcies
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Sam the Record Man hit by money woes
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The day the piano music died - Baldwin goes bankrupt: Canadian venues suffer as firm reclaims loaned instruments
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Sam The Record Man files for bankruptcy
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_________________

Korea:

Hynix creditors approve rescue plans, including debt-write off proposal
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Local banks tightening screening of bad-credit corporate borrowers
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__________________

Australia:

Barrister banned after tax-debt bankruptcies
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Growing gloom fuels rate cut hopes
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___________________

 

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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.