April 30, 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

         
Pay to Stay:

Will a Bonus Stop a Breach?
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Paying Staff to Stay Draws Controversy; Enron Tactic Becoming More Common
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EarthLink Cofounder Pleads Guilty
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Insurance concerns grow - Insurers are going the extra mile to find ways to deny coverage to officers and directors
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Bankruptcy Reform:

Clause for abortion foes stalling bankruptcy bill
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Save the Millionaires
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Modest reforms work slowly but surely
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Enron:

What's up with Lay? Jus' Stuff
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Enron's Midlevel Players Face Scrutiny
(WSJ: separate paid subscription required)

At Center of Enron Bankruptcy, Dispute Over Big Bank Creditors
(NYT: separate free registration required)

Enron Eyes Repurchase of Pipeline from Dynegy
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SEC chief's actions since Enron surprise some - Harvey Pitt targets analysts' conflicts and accounting
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Bigger is better in 10K filings
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White House Staff Given Enron Survey
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Hearing Set on Whether to Remove Milbank from Enron Bankruptcy
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Secret life insurance policies draw more wrath
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Examiner OK'd for Enron Legal Fees
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Clock Ticks on Dynegy's Credit Line
(WSJ: separate paid subscription required)

Dynegy tarred with the same brush as Enron
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Enron Makes Ethics a Lively Topic in College Classes in Texas
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Bankrupt Quality sells more stores
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Fairchild Dornier's U.S. Unit Forced Into Bankruptcy
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New IRS rules may diminish stock perks
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Hopes to save bankrupt Michigan Specialty Tube fade
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Pinnacle:

Pinnacle turns to Fortress, Greenhill to survive
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Pinnacle may have its best offer
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Daewoo U.S. Unit Fires Workers Before GM Purchase
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Six Flags leads Jazzland bidding
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  Distress sale - controlling a company through its debt
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J.P. Morgan Pulling Back From Providing Standby Lines
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Insolvency negotiations: Sweating the big stuff
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Accounting:

KPMG near buying Andersen arm
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A Gamble Andersen May Regret
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Andersen Employees Begin to Bail
(WSJ: separate paid subscription required)

Andersen Is Sued by Ex-Partners
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Trial opens for Andersen, nonprofit
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Bill Aims to Bolster FASB With New Fees, More Independence
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Andersen says it was duped in BFA
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Lawyers face off in Andersen trial
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More Andersen buys for E&Y
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Grads Promised Andersen Jobs Scramble
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Clients leaving . . . McLeodUSA, R.R. Donnelley

Andersen slogs through thickening legal mire
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Corporate Governance System in Need of Reform Says Deloitte & Touche CEO Copeland; Investigative Body Needed for Financial Failures
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FASB To Set 'Squeak-Through' Standards Over Protest

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Telecoms:

Cisco unit objects to sale of PSINet business
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WorldCom's fiscal stability in question
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WorldCom Shares Dive on Debt Worry
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Ebbers resigns as WorldCom crisis fears grow
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Hutchison to exit ventures with Asia Global Crossing
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Banks Opposed Williams Communications' Debt Tactic Early On
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ATM, Frame Relay Service Providers Find Competitive Edge With Post-Bankruptcy Restructuring
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FCC Returns $1.5 Billion to Verizon over Disputed Radio Frequencies
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Kmart:

Debate stalls Kmart investors' role in bankruptcy
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Kmart to Use Entertainment Industry
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Time for ailing K-Mart to step into modern world
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New Bankruptcy Opinions
(2 new opinions today)

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

Wiley Rein merges with bankruptcy boutique
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L&H, unit to file new Chapter 11 plans
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Polaroid:

Intervention in Polaroid Bankruptcy
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AG pushes for Polaroid workers: Buyer would have to keep health plan 

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Comdisco files reorganization plan
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Leather Center Inc. Files for Chapter 7 Bankruptcy
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Corporate boards grapple with changing rules
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Spider-Man escapes lawyers web
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Bankrupt Hotel, Casino to Hold Liquidation Action in Colorado Springs, Colo.
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NYSE Inquiry of Merrill Broker Focuses on Global Crossing Stock
(WSJ: separate paid subscription required)

Law Firms:

Antitrust Team Joining Clifford Chance
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Freshfields Partner Sorry for Associate Pay Comment
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Australia:

Crisis hits Aussie doctors - largest health insurer announced it would seek provisional liquidation
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England:

NTL in talks to keep restructuring plan alive
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NTL seeks 11th hour bank support
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Argentina:

Argentine banks open, but depositors' protests strong
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Canada:

Proposal to Save the Orderly Payment of Debt Program has been made to the BC Government
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Korea:

Hynix Board of Directors Does Not Accept Creditors' Council Restructuring Plan
(DBN Subscription Required)

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Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C.  You can reach us at 281-242-6208 or at admin@bkinformation.com