April 11, 2002 

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

         
Telecoms:

Buyout firms dominate Global Crossing list
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Law Firm Reportedly Mistakenly Reveals Global Crossing Suitors
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A crisis too far for telecoms?
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Worldcom Crumbles on Grim Prospects
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The Bell Is Tolling for the Beeper
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Accounting:

Andersen might have saved itself but for a series of errors
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Andersen will admit to crime in Enron investigation
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Deloitte accused of failing to catch fraud at InverWorld
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New Audit Rules Taking Form
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Andersen Talks Snagged Over Banks' Role
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Plea Deal by Former Andersen Auditor Called 'Gold Mine' for Prosecution
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Andersen Near Settlement with SEC
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Andersen Weighs Making Legal Concessions to Delay Trial
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New auditing giant for South Africa
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TeamStaff Appoints PricewaterhouseCoopers as Auditor
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Warning against knee-jerk reaction to Enron
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Andersen Taiwan Member Signs MOU With Deloitte Touche
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Manpower Inc. Names PricewaterhouseCoopers Auditors
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Andersen's merger options remain open in Israel
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Qwest Says Andersen Won't Get New Nonauditing Accounting Work
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Westin Hotels Replaces Andersen With Ernst & Young
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Cagle's Inc Dismisses Arthur Andersen LLP
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Dendrite Appoints Ernst & Young As Independent Auditor
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TII Network Names KPMG Auditor, Replacing Andersen
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Pinnacle Financial Partners Drops Arthur Andersen As Auditor
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Ensco International Dismisses Arthur Andersen As Accountant
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Advantica Announces Results of Exchange Offer
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Steel:

US industry opposes Bush steel tariffs
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Judge OKs order for Geneva to pay its property insurance
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EOTT Energy Elects New Chairman and Restructures Board
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KMart:

Each time we think Kmart Corp. can't top its last blooper, we're forced to think again
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Bankruptcy filings inch past first quarter of volatile 2001
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Utah Bankruptcies Shoot Up
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Factory Card&Party emerges from Chapter 11
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Sea Star gets bankruptcy court OK to buy Navieras/NPR
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  Veteran judge to take oath for U.S. bankruptcy court
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Bankruptcy Reform:

Letter from Delaware: Model Law buried alive
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Institutions oppose IMF bankruptcy plan
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Insurance costs for execs, directors may skyrocket
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Enron:

Leaning on the Lawyers - Plaintiffs' lawyers may not have an easy task tapping 2 law firms for cash in the Enron case
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Enron gets support in requesting extension
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Dabhol asset sale looms
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Lenders won't seize Enron plant in India...for now
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Seeking Ways to Sell Enron's Plant in India
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Enron Examiner Finds No Improper Cash Transfer at Unit
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The Examiner Report, Ex. A, Ex. B, Ex. C

Enron Inquiry Still in Its Infancy
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Florida pension board hires law firms for possible Enron suit
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Oregon Probes Enron for Racketeering
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Enron bet on energy crisis
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Senators rejected Enron-inspired plan for federal regulation of energy-related derivatives
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Enron Quietly Ran Risky Hedge Fund Before Collapse
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Enron Offered Management Aid to Companies
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Ex-managers to buy an Enron unit in England
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SunTrust Income Drops on Enron Loans
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Exide may file for bankruptcy
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Former Business Owners Who Sold To NationsRent Want to Avoid Noncompetes to Re-Enter Equipment-Rental Industry
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Law Firms:

Top lawyers can fizzle in firm's top spot
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Love 'Em or Hate 'Em, Law School Rankings Are In
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Law school graduates are finding the job pickings fairly plentiful and largely unaffected by the economy
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Across the globe, law firms expanding their horizon
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Survey: Most attorneys would not start own practice
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Jury remains out on law firm alliances
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To get more clients, law firms should 'press' their case
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Legal eagles fly coop in turbulent market
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Warnaco explores selling its core assets
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Aladdin sale delayed by dispute with utility plant
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Gateway Outdoor Advertising files for Chapter 11

International FiberCom Seeks Court OK For Sale Of Company
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Bankruptcy Judge to rule on Diamonds baseball team sale - On fourth try, will team strike out again?
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The bottom line
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Jobs - Updated April 8, 2002
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Bankruptcy Court Web/Pacer Site Directory

InverWorld Liquidator Files $200 Million Lawsuit Against Deloitte & Touche
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Airlines:

Severe turbulence
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TWA Granted Continuance Of Confirmation Hearing
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Sun Country Reaches Attendants Pact
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The Zone of Insolvency: When has a company entered into it, and once there, what are the Board’s duties?
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Viasource, 180 Connect to complete deal
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North Carolina bank accidentally kills off hundreds of customers
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Trustee For Sengac, Inc. D/B/A Rodier Paris Retaining Keen Realty, LLC In Chapter 7 Court Proceedings
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Major banks call for better handling of global crises

Asbestos:

Halliburton is singed by claims
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Facing lawsuits, Shook & Fletcher files Chapter 11
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Asbestos claims flood U.S. courts
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Brill Media, creditors file motions in bankruptcy case

Auditor Doubts Budget Group's 'Going Concern' Ability
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Investors Focus On Quality Of Company Management
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License Online sells assets, files Chap. 11
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Australia:

Bankrupts down 10pc
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England:

Melnitzer creditors out of luck
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NTL is pressed to fire executives

Lloyd's Posts Major Sept. 11 Losses 

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Canada:

Historic order faces bankruptcy
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Korea:

Daewoo's U.S. Dealers Lobby General Motors to Buy U.S. Assets
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Germany:

Investors preparing $5b Kirch aid package

Germany's bad debts pile up 

Banking Regulators Probe Kirch Loans
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India:

India set to launch bank recovery vehicle: A plan to restructure distressed public sector debt could face legal and political hurdles
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France:

Court orders liquidation of France's Kalisto
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Hong Kong:

Bankruptcy laws must change
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