April 29, 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

         
Bankruptcy Reform:

Bankruptcy bill: Too many holes?
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U.S. House speaker presses on bankruptcy bill
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Developing Nations Are Reading The Fine Print of G-7 Proposal
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Pinnacle:

Pinnacle Holdings says to file for bankruptcy
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Pinnacle Holdings To Recapitalize In Chapter 11
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Merrill CEO Komansky Apologizes for Analyst E-Mails
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Hunt for DCT funds begins
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Credit Squeeze Is Easing, but Boardroom Pall Lingers
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Hey, Pull My Finger!, Baron von Margin Call
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Enron:

Skilling raises issue of fraud
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Enron throws fuel on hot debate over multidisciplinary practices
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After Enron, Annual Reports Focusing On Issues Of Trust
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Sempra Energy Trading Completes Acquisition of Enron Metals Concentrates, Adds U.S. Warehousing Business
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Calif. GOP leaders sought Enron money
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Bill Simon's Enron Ties
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Enron Unit Extends Bond Deadline
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Anatomy of a Fall: Keys to Success Left Kenneth Lay Open to Disaster
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Judge loosens reins on ex-Creamery boss
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How to Fix Corporate Governance - Excessive pay, corrupt analysts, auditing games: It all adds up to capitalism's biggest crisis since the trustbuster era
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U.S. Companies Rush to Go Offshore
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Smoothing the Way
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AmeriQuest Announces Suspension of Business Operations
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Ex-workers of jetmaker sue to force bankruptcy
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Economy:

The Recovery’s Soft Underbelly
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U.S. Economy Remains Fragile, Despite Burst of Strong Growth
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'Recession-ette' may be over elsewhere, not here
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Bankruptcy Boom in a Falling Economy
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Bankruptcy delays Kaiser tax payments
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Bankrupt Cripple Creek, Colo.-Based Hotel, Casino Holds Auction
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Panel Clears Corporate-Fraud Law
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Agency seeks to boost rehab of failed ventures
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Kmart:

Kmart plans to decide between Web names this summer
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Law Firms:

Another Brobeck Partner Exits the Fold
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Thelen Reid Grabs Nine Partners From D.C. Firm
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On the Defense at Pre-Paid Legal Services

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Employment Issues for Bankrupt Employers
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  Telecoms:

Okla. to probe Williams Communications bankruptcy
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Marconi bosses face axe by banks
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WorldCom May Face Loss of Corporate Customers
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States Say Qwest Signed Secret Deals To Ease Its Long-Distance Expansion
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Lightyear Communications lays off 100 workers, will file Chapter 11
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Flag Telecom Files Breach Of Contract Suit Vs Alcatel
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Unraveling the Web of Relationships When a Telecom Goes Bankrupt
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Williams Communications: from brainstorming sessions to Chapter 11
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Battered Clariti files for Chapter 11 bankruptcy
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Provell Faces Nasdaq Delisting As Bankruptcy Looms
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ANC faces fight with National franchisees
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Suit Claims Citibank, Two Credit Reporting Firms Kept File Open Too Long
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'Little People Floundering' From Executive Life Losses
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Bidders merry-go-round starts at Jazzland
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Accounting:

Andersen's bankruptcy on radar
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Andersen Faces Trial Over Baptist Foundation
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Andersen Talks Frozen Over Money Concerns
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Corporate America Reins in Certain Fees
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Accounting - "When the SEC and the Justice Dept. get their act together and start sending some CFOs and CEOs to jail, you'll see a real wake-up call"
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New accounting rules cause havoc for big business
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Andersen Firms Rush to Protect Capital
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Local Andersen office feels pinch
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Andersen to merge Korea operations with Deloitte
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E&Y Agrees Andersen Merger in Germany
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Three Big Five Firms Get Sued over 'McScandal'

Andersen, plaintiffs battle over non-US liability
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Andersen Renews Bid to Settle Charges
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Gov't. Rejects Andersen Proposal To Delay Trial
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PwC Dives Into Andersen Bidding Pool

Clients continue leaving . . .Metaway, Stewart & Stevenson Services, Mrs. Fields' Original Cookies, Crawford & Co., Atlas Air, Abbott Laboratories, Comstock Resources

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Auto Financiers' Losses Climb in 2001
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Executive Pay - As the market cratered, executives went right on raking in the dough--as nearly 200 companies swapped or repriced their stock options
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The Board - A ban on stock sales by directors for the duration of their terms would encourage them to blow the whistle on management when necessary
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Saddled with cleanup costs, service station owners seething in anger over bankrupt waste hauler
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ICH Corp Announces Acceptance of Recapitalization Proposal
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For sale: Unfinished cruise ship, $185 million/obo
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Austin: Subdivision developer submits Ch. 11 filing
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Bankrupt Augusta hospital for sale?
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Swansea tries to stave off bankruptcy
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Arizona: Forced to give up homes
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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

Comdisco:

Comdisco to reorganize into 3 units
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Comdisco Files Reorganization Plan
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Nevada utilities chief says bankruptcy a possibility
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Airlines gasping for air
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Adelphia couldn't escape Enron's shadow
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High Failure Rate
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InSpire Insurance Ending Lockheed IT Outsourcing Contract
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Revisiting the Rule on Trustee Standing
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Steel:

Geneva Steel LLC Seeks Exclusive Plan-Filing Extension
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Bankruptcy Court Says Bethlehem Steel Has Right To Columbus Processing Stake
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Steel industry retirees fret as import relief effort bogs down
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Steelworkers announce wage deal with Republic
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Head of Coco's and Carrows Chains Faces Unique Challenges
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Reuniting With a Persistent Chapter 11
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Decorative Surfaces has offer worth $48.4 million
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Germany:

KirchMedia May Face a Breakup as Restructuring Talks Drag on
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Hollywood chiefs join move to save Kirch pay-TV arm
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Springer set to launch Euros 530m lawsuit against Kirch
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Mexico:

Citigroup, Other Banks, Demand Ouster of Mexico's Ahmsa Chiefs
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Canada:

Receiver completes sale of substantially all King Products assets
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Skeena Cellulose back in court again
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China:

Chinese Appliance Giant's Losses Grow - Going Concern Worries
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Korea:

Hynix Creditors Plan $1.38 Billion Debt Write-Off
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Japan:

Scandal-hit FSA tightening screws on bank inspectors
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Over 7,500 take advantage of new rehabilitation system
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Agency seeks to boost rehab of failed ventures
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Argentina:

Argentina to Reopen Banks, Allow Peso to Trade Freely
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England:

Police and banks take on fraudsters
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