April 4, 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

         
U.S. Trustee cracks down on accounting conflicts
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Dual-Svc Accounting Work Challenged In Del. Ch 11 Cases
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Adelphia, Confirms SEC Inquiry
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Response Oncology/Liquidation: Numerous Sales Pending
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The unprecedented rise in demand for Kroll's security, forensic accounting and bankruptcy services has kept its GC busy
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Polymer Group says involuntary petition dismissed
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Enron:

SEC Backs Outside Examiner On Enron
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U.S. Moves to Ease Harm From Enron
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Enron Documents Indicate Possible Cover-Up
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J.P. Morgan, Citigroup, Other Banks Will Be Named in Enron Case
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Lawsuit amendments to allege insider trading
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The Enron Effect - Lawyers for public companies see their practices boom as clients scramble to reassess accounting, corporate governance issues
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Ruling Unravels Deal On Enron Pensions
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Enron used its influence to get contract, reneged
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Cornyn urged to recoup jobless claim funds from Enron
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Houston-Area Energy Firm Still Suffering Blues As Enron Partner
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Enron-Dynegy fight awaits site - Moving suit to Houston put at 50-50
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Iberdrola Declines Comment On Reports Of Enron Assets
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NTL:

NTL's Smaller Bondholders Can Only Watch and Await Their Fate
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S&P cuts NTL credit rating to only one notch above default 

Bondholders' Concession Throws Lifeline to Top UK Cable-TV Operator
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Hard-bitten NTL struggles to survive
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Golden Books ends classic run
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Fate of Pueblo, Colo., Shopping Mall Hangs in Balance in Court
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Airlines:

Midway back in court's good graces
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America West Tests Congress's Bailout Plan
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Judge tells Aladdin to work with its creditors
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Harbison's final DIP hearing delayed
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Economy:

Report sees more pain for manufacturing sector
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Commercial Vacancy Rate Soared
In First Quarter, While Rents Fell
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Despite Recession, Credit Card Charge-offs Will Not Rise To Expected Levels
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Four Factors to Shape the Economy
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Investors Want Disclosure
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Auditor Doubts Monarch Dental Can Remain A Going Concern
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Hawaii: H-Power Owner Files For Bankruptcy
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Exide bondholders struggle amid buyout interest
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Once Lively Dot.Com Shuts Down
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Augusta, GA: Garbage contractor is seeking Chapter 11 protection

Credit Risk Management Continues to Be Key Issue For Banks
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  Bankruptcy diplomacy - So far, the work has fallen to only one law firm
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Debt collection firms navigate through hard times
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Bankruptcy Reform:

Bankrupt US veto
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U.S. Plan for Nations in Crisis Hinges on Flexible Creditors
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Home as Shield From Creditors Is Under Fire
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Letter from Delaware: Bankrupt buyer
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Accounting:

NYSE May Limit Audit Panels to Outside Directors
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Survey - The Impact of Enron: How Far Will It Go?

The Rise and Fall of the Intangible Asset
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Nonbankruptcy Sale of Andersen Tax Unit Hampered by Legal Concerns
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Forrester Research Replaces Andersen As Auditor
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Allied Capital Corp To Dismiss Arthur Andersen
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Andersen break-up accelerates outside U.S.
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Brandywine Realty Keeping Andersen As Accounting Firm
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Firms Seek to Delay Filing of Annual Reports
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Andersen Link Is Risky for IPOs
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Govt. Seeks Andersen Admission to Settle
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Andersen seen rejecting plea
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U.S. Seeks Public Admission of Guilt
In Attempt to Settle Andersen Case
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Andersen hires Gleacher as financial adviser
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EU to Restrict Auditors From Offering Other Services
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Singapore Affiliate of Arthur Andersen to be Acquired
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Timing Is Right for Andersen Rivals
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Footnotes In The Footlights As Annual Reports Hit Street
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Gensym Dismisses Arthur Andersen
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Andersen Worldwide Picks Cardoso as CEO
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Quinton Cardio Second IPO To List Andersen As Risk
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Advanced Marketing Services Dismisses Andersen As Auditor
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Louisiana St. Auditor Bans Andersen
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Esoft Inc Dismisses Auditor Arthur Andersen
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House to Vote on Accounting Rules
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Frontier Oil Replaces Arthur Andersen As Auditor
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Federal Agricultural Drops Auditor Arthur Andersen
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LTX Corp Replaces Andersen As Auditor With Ernst & Young
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Steel:

Bankrupt National Steel wins final DIP approval
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Steel retiree bailout urged

Memphis, Tenn.-Based Steel Processing Company Files for Bankruptcy Protection
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Law Firm Restructuring:

Management Shuffle at Skjerven
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Heading to the Altar? - Boston's Bingham Dana, San Francisco's McCutchen Doyle talk merger
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New Bankruptcy Opinions
(1 new opinion today)

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

Adelphia:

DIP Dimensions: Adelphia Business Solutions
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Adelphia Faces Irate Shareholders
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Adelphia Says SEC Is Conducting Inquiry of Its Debt
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Adelphia may solve debt crunch with small sale
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Dot-Com Shutdowns Fell Sharply In First Quarter
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Telecoms:

Williams Got SEC Letter in February; Shares Tumble
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Nortel clients give warning on finances
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ICG ready to end bankruptcy

Qwest CEO rules out possible bankruptcy
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Clamor Builds For Qwest Shake-Up
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'PSINet' comes off the stadium next week
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Forklift firm approved for Chapter 11 bankruptcy
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Power Utilities:

PG&E takes bankruptcy case to federal court
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_________________

Friede Goldman Can't File Annual Report On Time With SEC
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Lawyer's License Suspended for Plagiarizing Treatise
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Comdisco To Sell U.S. Healthcare Leasing Assets to GE Capital Healthcare Financial Services; Court Hearing To Approve Transactions Scheduled for April 18, 2002
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Georgia: Predatory lending limits OK'd
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Covanta Energy Files Chapter 11
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Trapped by debt? Free yourself in 7 steps
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England:

English League, ITV Digital set to resume talks
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ITV Digital Peers Into The Abyss
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Germany:

German banks braced for big loss provisions
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Business booming at German insolvency courts
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Kirch Banks Refuse Loan, Insolvency Looms
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Herlitz Begins Insolvency Proceedings
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Fairchild wins bridge loan from creditors
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Germany Faces Wave of Bankruptcies, Suggesting Economy Has Hit Bottom
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Kirch nears bankruptcy as talks fail
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Japan:

Big Japan Banks Plan 2-3 T. Yen in FY '02 Bad Loan Disposal
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Bad-loan costs seen pushing Japan banks into red
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Cundill hunts for bargains in Japan - 'It has to have a pretty nasty story,' co-manager says
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Russia:

Russia's banks face 'health check'
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Argentina:

Argentina corp defaults seen as debt payments loom
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