April 2, 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

         
Millennium bondholders seize control of bulker fleet
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Adelphia:

Adelphia Business gets access to $27M of DIP
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Adelphia stock dives as report is delayed
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Covanta:

Covanta goes bankrupt, sells out to KKR
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Trash Firm In Fiscal Trouble
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Incinerator firm blocks its creditors - Filing for bankruptcy protection puts county suit, taxes on hold
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Two More Creditors Sue Former Kentucky Governor in Bankruptcy Court
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Enron:

The Gold in Enron's Collapse - For firms, giant bankruptcy is a fee frenzy. The tab: $18 million and counting
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Law Firm Kirkland & Ellis Draws Notice From Investigators Into Enron Partnerships
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Weil Gotshal Associate Working 12-7 on Enron
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Enron’s $700-an-Hour Club
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Playgirl wants men of Enron to lose suits
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The Revenue Games People (Like Enron) Play
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How to Avoid the Next Enron Bomb
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Expensive Flights & 4 Seasons Lodgings for Enron Lawyers
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Banks Asked To Stop Blocking Enron Workers' Severance Pay
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Special Grand Jury Zeroes In on Enron Executives
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Watkins says her warning came too late
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Enron not cooperating with creditors from Indian unit
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Watkins: It may be difficult to get convictions in Enron collapse
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The people at Fortune magazine just can't get enough of Enron
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Enron Whistleblower: Reaction Was to Quit
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Four Raptor deals eyed by Enron grand jury
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New Inquiry Is Sought Into Enron
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Centrica, NewPower terminate merger agreement
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Pumped Up
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Ken Lay as Sex Symbol?
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Congress to IRS: You're a Bunch of Wimps

Airlines:

Report Gives 'Unpleasant' Outlook for Most Airlines
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Gray Communications Signs Letter of Intent to Acquire Benedek Broadcasting Corporation
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Don't Let Your Mistakes Become Costly Errors
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Sunbeam Corporation and its Chapter 11 Debtor Subsidiaries Extend Deadline To Vote on Plans of Reorganization
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Bankruptcy Reform:

IMF Modifies Bankruptcy Proposal
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IMF calls for 'sovereign Chapter 11'
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Individual lenders working together may help governments to overcome debt crises
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Accounting:

Andersen partners fear liability won't be limited
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Speeding Toward Trial - How Will Arthur Andersen, DOJ Prepare Crim Case in Six Weeks?
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Meet Andersen's Nemesis at Justice
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More companies back away from Andersen
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Andersen's wrong turns grew obvious
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CNN anchor Lou Dobbs lays it on the line about Andersen
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Andersen Partners Consult Lawyers About Limited-Liability Protection
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O.J. Simpson, Math Whiz
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Executive: deal close to link Andersen Singapore and Ernst & Young; other countries may follow suit
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Andersen's Worldwide Woes
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Andersen, KPMG End Talks To Merge Non-U.S. Practices
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Three more companies drop Andersen as auditor
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Cummins Inc. Fires Arthur Andersen
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Trump Hotels Plans To Replace Auditor Andersen By May 15
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Art Technology Dismisses Arthur Andersen As Auditor
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Fight and Flight at Andersen
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Georgia-Pacific Mulls Replacing Andersen As Auditor
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Tough option
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Auditor Who Questioned Accounting for Enron Speaks to Investigators
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Voodoo Accounting
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Andersen Facing Arizona Charges
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Andersen Spain links up with Deloitte and Touche
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Europeans Push for Audit Reforms
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Andersen Faces Breakup as KPMG Talks Fail
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Trucking Company Restates Earnings
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Equitable called shots on 1515 B'way
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Wilkinson faces 2 new suits - Major creditors claim fraud, fight discharge
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BMK to sell assets to Sun Capital
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Ocean Journey buys time with bankruptcy
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Andersen Doubts Learn2 Corp Can Remain 'Going Concern'
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Data Show Economy Is Rising
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Jobs - Last Updated April 1, 2002
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Bankruptcy Court Web/Pacer Site Directory

Jury Finds Against First Union National Bank for $276M - Software company takes on bank for pulling out of alleged commitment
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Landmark Award Is Given in Asbestos Suit
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Bankrupt Alistia stakeholders, trustee to meet
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Bankruptcies - This is still 'recession light.
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Pentacon Won't Make Sr Sub Nts Interest Payment Due Mon
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Judge OKs Sale of Some Assets of Former Kansas City, Mo.-Area Gifts Seller
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Market Refuses to Forget Savings and Loan Debacle
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Area Debtors Take Option of Liquidating Assets
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Telecoms:

Qwest May Write Down Value of Assets by $20-30 Bln
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Icahn's sweetened XO bid might not tip scales
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Williams Communications delays on debt
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Metromedia Fiber announces debt defaults, new CEO
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Bankruptcy looms for Williams and MFN
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Williams Communications Raises Loss to $3.1 Billion
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Swift cancels Global contract
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Bank consortium pulls out of Global Crossing deal
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NTL:

NTL halts interest payments, talks continue
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NTL near to agreement with creditors
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NTL buys more time: Cable group could file for Chapter 11 despite pounds 8bn debt deal
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JP Morgan: Risky Business
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Assisted Living Concepts, Inc. Reports Fiscal 2001 Results
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Rhode Island Court Order Keeps Former Ice-Cream Chain Owner in Jail
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Vikonics Announces It Has Filed a Voluntary Petition For Chapter 11 Reorganization
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Equity firms hold piece of First Avenue Networks
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Xerox Agrees to Record SEC Fine
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Insolvency Threatens Missouri Unemployment Insurance Fund
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England:

Number of businesses failing jumps by 15%
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Business failures increase
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Japan:

Protection of deposits costs public a heap
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Germany:

German-American Aircraft Maker Fairchild Dornier Files for Protection From Creditors
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