October 4, 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

         
Wall Street Deli, Inc. Files for Chapter 11 Reorganization
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Bankruptcy Reform:

Chapter 15 stalled
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Restructuring . . .

Credit Suisse First Boston to cut about 20% of investment banking staff
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Corning Lays Off 4,000 More
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General Electric Aircraft Engines to Cut 4,000 Jobs by 2002
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Axe falls yet again at Nortel - 19,500 Jobs Cut
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Derby Cycle Gets Court Nod To Sell Assets To Cycle Bid Co
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Bankruptcy Court Approves SWS' Acquisition of MJK Clearing Accounts
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Struggling Las Vegas Resort Is Sued
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Law Firm Restructuring:

Brobeck's Snow Under Pressure As Critics Wonder How It Can Continue To Prosper
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Texas Firms Say No to Layoffs
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Summer Associates Uncertain About Their Futures
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A Summer Bummer - Summer associates are getting fewer offers
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NY Midlevel Associates Unconcerned About Layoffs
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Polaroid:

For Polaroid, the Bad News Seems to Be the Only News
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Polaroid pension plan underfunded - Company reveals woes in memo to employees
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Love and admiration not enough to transfer acres, 8th Circuit says (see New Opinions, October 3, 2001 for a copy of the opinion)
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Ruling gives Newport Creamery more time to find buyer
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How to guess the unguessable - In these uncertain times, businesses that take nothing for granted will have an edge
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Economy:

Economy Screeching to a Halt
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U.S. battles woes as global gloom persists
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Small businesses' optimism drops with a thud Many see fewer hires, slower sales ahead
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World economy heading for recession
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Gloom Hampers Fed Stimulus Effort
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Telecoms:

Moody's may cut 17 telecoms, billions in debt
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Telecom Companies Likely To Sit Out Excite@Home Fire Sale
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Assisted Living Chapter 11 Petition Lists $252M In Debts
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Carmike to convert its stock 

Auto sector's outlook turns bleak, experts say: Shakeup could drive many parts makers out of business
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  Sterling Chemicals in DIP fracas
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A $10 billion windfall - Credit card lenders don't pass on full interest-rate cuts
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Casual Male - Hard bargainers
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Airlines:

Swiss Face Shame, Disbelief, Anger
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Sabena goes bankrupt
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KLM Warns of Cuts, Swissair Limps Back
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Pro Air: Terrorist attacks end upstart carrier's hopes for comeback
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Airlines paying price of over-capacity
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Airline Bailout May Not Be Enough to Save Wounded Industry
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TWA Workers Worry about Future as American Airlines' Parent Plans to Cuts Jobs
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Chaos as thousands queue to get out of Switzerland
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Credit Suisse CEO: Co Was Prepared To Help Swissair Fly
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Air Canada stock drops, rescue plan seen weeks away
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Government Presses Swissair, Banks
As Airlines Help Stranded Passengers
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Cash aid for Sabena and Swissair
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Pro Air's Plan for Comeback Is Unlikely to Fly
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Swissair scrambles for cash
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Swissair to Fly Again, With State Aid
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Bleak Prospects for Airlines
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U.S. to play big role in airlines' future
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Bankrupt Amerijet to get $1M infusion
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BMI cuts 600 jobs as BA numbers fall
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Attacks likely to kill off sick airlines
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Sabena Airlines Files For Protection
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Belgium, Switzerland loan their flag carriers money as Swissair planes remain grounded
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Cheap Credit, Except for Those Who Need It Most
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As Economy Slows, Lenders May Need to Reassess Risk Management
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Dotcoms:

On Junk Heap of the Net
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Excite@Home: 'Death spiral' convertibles offer little protection
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Judge OKs Webvan Asset Sale to Kaiser
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San Jose, Calif.-Area Office-Space Vacancy Hits Highest Rate in Years
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Fountain View:

Fountain View, Inc. Receives Approval of First-Day Orders
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Hearing On Lernout's Disclosure Statement Delayed
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New Bankruptcy Opinions
(2 new opinions today)

Bankruptcy Jobs
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Bankruptcy Court Web/Pacer Site Directory

Power Utilities:

Edison utility pact faces opposition
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State seeks more than $1 billion in PG&E bankruptcy
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Accord Jolts Edison Clear of Insolvency
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Pacific Gas and Electric Company Responds to Claim Filed by California Attorney General
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SCE sees $300 mln October surplus to pay creditors
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Edison rates to remain high under utility's deal with state
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Advocacy groups, creditors question Edison rescue
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Bankruptcy Threat Still Looms for SoCalEdison
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Edison To Renegotiate Terms With Small Power Producers
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Southern California Edison CEO says generators to be paid
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PUC won't OK state's long-term contracts - Edison settlement avoids bankruptcy
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SoCal Ed Deal May Undermine PG&E's Asset-Transfer Plan
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In Calif., deal rescues utility; panel deadlocks on Treasury
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Developments in California's energy crisis
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Edison To Repay Creditors 'Immediately,' But No Date Yet
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Federal-Mogul's DIP pricing falls short
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Nevada: Have no mercy for deadbeats
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Steel:

Chairman under fire at ailing Weirton
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Canada:

Laidlaw: Greyhound's Canada Owner Faces Losses
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Indonesia:

The decline and fall of a paper empire
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France:

Alcatel to trim more than 3,000 jobs
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Japan:

Wal-Mart Unlikely to Make Bid for Bankrupt Mycal
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Australia:

Australian Bankruptcies Fall 9.3% In 3Q Vs 2Q
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Copyright 2001  [BKINFORMATION.COM]. All rights reserved.