April 12, 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

         
Freide Goldman: Work - when enough is too much
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IRS Wants Merchants to Reveal Users of Offshore Credit Cards
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Standard Automotive trustee hearing set
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Enron:

Where were Enron's lawyers?
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If Vinson & Elkins Settles Will You Pay?
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Does a suitable Enron examiner exist?
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Enron CEO Says Debt, Other Claims Could Total $100 Billion
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Insurers clear to start paying Enron liability
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After Enron, need for lawyers likely to increase
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Enron North America Examiner's Role To Expand
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Enron management gets six-month extension
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Seeking Ways to Sell Enron's Plant in India
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Man gives up in 6-hour standoff - Restaurant owner reportedly is upset over Enron collapse
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Enron Accused of Manipulating Prices
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Calif. officials: Enron is key in energy 'fraud'
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Trimmer Enron Foreseen When Smoke Clears
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Divining the lawyer's role after Enron
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House OKs Pension Reform Bill
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Enron's hedge fund did well
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A Sign Unto E
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GE gets Enron's wind turbine unit
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Enron's Acting CEO Unveils Plans for Restructuring as Smaller Company
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Enron/Examiner -Expanded Role Pleases Many Creditors
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Enron offered Indian journalist plum job to silence criticism
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Salomon's Grubman Is Now Target As Lawyers Continue Analyst Probe
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Bid to control trade in energy derivatives fails
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Sulzer Medica, Lawyers Seek Unanimity in $1 Bln Implant Accord
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Trustee Seeks More Time for Bids on Wilmington, N.C.-Area Riverfront Property
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Jore CEO says asset sale in best interest of creditors
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Steel:

City seeking to force cleanup by steel firm
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Trustee given reins of CSC
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Former vice president for bankrupt grocer Grand Union Co. sentenced in $2.2M store scam
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BCE caught between banks and Teleglobe bondholders
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Evergreen:

Millions Swindled In 10-Year Scheme
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Four Men Charged with Orlando, Fla.-Based $214 Million Investor Scam
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Amer Reefer Noteholders File Reorganization Plan
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Bankruptcy Judge Rules on Benefits Issues Involving Former Bookstore Employees
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Movie Gallery cites fraud risk on Video Update buy
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Buyers Battle to Claim Bankrupt Consulting Firm's Name
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NYSE to Suspend Trading in Comdisco
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  Kmart:

Kmart's woes continue to add up
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Michigan-Based Bank Puts Hold on Kmart Pay
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It's not a good thing - She's a bitch. And a genius.
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Trouble is their business
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Bankruptcy Reform:

Lawmakers deadlocked over bankruptcy bill
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Opposition to IMF plan is no surprise
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Fabricmaker Burlington says it will sell 2 businesses
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NationsRent sued over noncompete clause
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Accounting:

Andersen Partners Split on Remaining Options
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Xerox Reaches Largest Ever Settlement With SEC For Accounting Fraud
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Andersen Is Prepared to Settle Case
Brought by U.S. Justice Department
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Missed merger that cost a firm its future
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Andersen Dropping Some Clients
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Xerox Executives Led $3 Bln Earnings Fraud, SEC Says
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Andersen washes its hand of Enron
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Settlement talks gather momentum
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Seven months in the death of a global giant
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Andersen Plea: Maybe Guilty, It Depends
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GOP, Democrats clash over accounting reform
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Andersen Memo Urged Caution, Citing rising number of flawed audits and lawsuits
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Bottom Line Fishing - After Enron Bankruptcy, Consensus on Audit Issues Still Elusive
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Weakened Andersen, feds press on toward settlement
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Andersen-KPMG Cease Merger Talks In Central Europe
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S.E.C. Seeks Tighter Curbs on Insiders
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SEC to consider two new disclosure rules
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April Fools No Longer?
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Andersen to Get Settlement Proposal From U.S.
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Andersen Continues Losing Clients: Korn/Ferry, Genessee & Wyoming, FirstEnergy, Clayton Williams, Network Commerce, Cable Design, Westaff, Omega Financial, Trustmark Corp, Quidel, Spinnaker Exploration
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Accenture's fiscal second-quarter profit plunged on write-downs
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KPMG: Andersen Tie-Up in Germany by Oct.
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Red ink venue

Chairman of Failed San Antonio Investment Firm InverWorld to Lose House
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Law Firms:

CA Associates Work Harder Than NY Counterparts
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Use of temporary attorneys increasing
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Major UK Firm Cutting 20 Lawyers
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Jacobson to reveal earnings
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GE Capital Earnings Slide About $600 Million in First Quarter
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Roadhouse Grill sued for alleged misleading statements
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County caught off guard in Reliance insurance failure
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New Bankruptcy Opinions
(1 new opinion today)

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

Lawyers divvy up Black Diamonds pot - How many lawyers does it take to sell a bankrupt minor league baseball team?
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Power Utilities:

Court approves PG&E bankruptcy plan
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Group Throws Wrench in PG&E Plan
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PUC sued for allowing users to pay utilities' debts
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PG&E Issues Statement After Bankruptcy Court Tentatively Approves Its Disclosure Statement
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Calif. group takes aim at PG&E reorganization plan
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Examiner supports sale of IT to Shaw
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U.S. banks, brokerages could see ratings cuts
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Bankruptcy Court OKs CMI Industries' Liquidation Plan
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Investor loses lawsuit against Saxton, auditor
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Telecoms:

Global seeks $15M for retention bonuses
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Flag Telecom files for Chapter 11 bankruptcy
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Flag bonds hold recent gains on bankruptcy filing
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DIP Dimensions: Covanta Energy
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Brill Media creditors push for trustee
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Merrill Lynch:

Merrill must answer to NY state AG
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Merrill Bombshell Shows Corruption Runs Deep
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Merrill gets time to show 'conflicts': Other dealers leery: Attorney general, Merrill continue talks over disclosure
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Airlines:

United Airlines mulls government loan plan
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Sun Country aims to come out of bankruptcy Friday
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U.S. Plastic Lumber Gets Forbearance Extension With Lenders
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Archery firm seeks Chapter 11 protection
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Japan:

Corporate Bankruptcies in Japan rise 5 percent in March
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Japan bank report sheds light, takes heat
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Poland:

Elektrim's debt restructuring talks break down
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Canada:

Farm bankruptcy numbers may not give true picture
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England:

Judge calls for deportation for charmer who drove solicitor lover to bankruptcy
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Germany:

Dresdner bad loans to fall from 'intolerable' level
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The beginning of the end
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Korea:

Daewoo creditor banks give go-ahead for GM takeover

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