August 16, 2002 

Bankruptcy filings drop in Delaware - Court too busy, firms say
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Airlines:

National Airlines Memo To Employees
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United unions say no to cuts
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United must win over unions to survive
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HELP WANTED: New CEO to Save United Airlines
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United Air scurrying to avoid bankruptcy
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UAL Warns Of Bankruptcy, Sets 30-Day Countdown For Concessions
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US Airways workers could lose millions
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Suffering felt mostly by airlines
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National Air back to drawing board
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Airlines Need Changes in Strategy
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Spate of airline woes raises concerns for passengers
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It's going to be a bumpy ride
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"Hooters Girls" airborne?
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Regional Airports Anticipate Route Cuts: Other Carriers Courted
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The Sky Has New Limits: Smaller Planes, Fewer Frills
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US Airways: Service To Continue In 203 Of Its 204 Cities
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Boeing warns of exposure to United's woes
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Enron:

Enron Paper Chase Threatens Forests
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Enron judge lets 115 keep bonuses
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Dynegy to pay Enron $25 mn to settle merger dispute
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Enron and Dynegy settle row
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Enron foreign moves may change U.S. policy
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Enron principals want B.C. to pay
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Energy:

SEC Asks Williams Cos. for Credit-Reserves Data
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California PUC Wins Two State Supreme Court Cases Against Pacific Gas
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NRG may face bankruptcy
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FERC To Investigate Energy Merchants
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Court rejects challenge to PG&E rescue plan
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Dynegy Warns of Possible Bankruptcy Filing if Pipeline Sale Falls Through
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CMS Energy chiefs paid £5.5m to quit
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Dynegy admits it is unable to certify past results
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Accounting:

Ariz Court Rejects Appeal Of Andersen/Baptist Settlement
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FASB will require stock option values in quarterly statements
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E&Y fights JDS Equitable investigation
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Stock Options: FASB Proposes Three Methods
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Auditees or clients?
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Crash and Burn - Who flew Fairchild Dornier into the ground?
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Bankruptcy Reform:

New Bankruptcy Law Would Spur Further Credit Expansion
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Critics of bankruptcy bill blame card issuers
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Bedeviled by Debt - Unusual Bill Collector Embarrasses Debtors Into Paying
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Bankruptcy picture really not so bleak
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Car rental giant fails
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IRS Wants MasterCard Records to ID Offshore Tax Evaders
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Kmart:

Kmart Confirms Continued Strong Cash Position
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Kmart requests more cash
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WorldCom:

Digex loss more than doubled in quarter
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WorldCom utilities get better chance at payment
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MPSC calls on WorldCom in bankruptcy case
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WorldCom wins battle with creditors
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Regulators to gauge impact of bankruptcy
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Young WorldCom staffers diversifying with own firm
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Telecoms:

Court approves 360networks disclosure statement
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Wall St. star fizzles
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Qwest chief says 'bankruptcy' not in vocabulary
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Salomon's telco star forced to quit
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Former Winstar HQ to go for 245M
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Genuity may not be 'going concern'
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Nextel to buy wireless operator NeoWorld Communications
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Telecom efforts on slow track
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Cash-hungry Qwest pays high rate for loan
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The Danger Zone - Better software may solve the telecom mess
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SEC looks at XO's calling card sales
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Sealed Air suffers court setback
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Gary B. Sachs joins Hofheimer Gartlir & Gross as bankruptcy partner
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Corporate Reform:

Heat is on to certify
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More CEO D-Days ahead
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Market Shrugs Off Certification Day; Restatements Abound
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As Deadline Passes, a Brief Sigh of Relief
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17% of CFOs Have Been Pressured - To restore investor trust, many companies are disclosing more information, according to a CFO survey. But it may not be enough
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Diamond Brands requests to sell assets
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Judge says Bay 101 can deal cards over night
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58 indicted in US on fraud, money laundering charges
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Conseco looks headed for bankruptcy
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Ex-Media Vision exec convicted in fraud trial
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Finova says CEO Hershfield to resign
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Talk City users upset by site's shuttering
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Campaign Against Predatory Lending Finds Target
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UPC plans to enter bankruptcy
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Suspensions and fines at CSFB
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New Bankruptcy Opinions
(2 new opinions today)

Bankruptcy Jobs - 58 Jobs - Last Updated August 12, 2002
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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This Week's Poll:

BK Polls One flavor of pending bankruptcy reform legislation (the Employee Abuse Prevention Act bill) would prohibit corporate debtors from filing for bankruptcy relief in a district based solely on (a) the debtor’s incorporation in the State where that district is located; or (b) the presence of a subsidiary or affiliate in that district. This week's topic is: A corporate debtor should be allowed to file bankruptcy in the State where the debtor is incorporated even if that State is not the debtor's principal place of business in the United States. Strongly Agree Agree Neutral Disagree Strongly Disagree

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Bankruptcy Cartoon:

Note to all employees. . .

The damage is worse than first reported . . .

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Court approves Guilford reorg plan
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Metals USA sells unit
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Law Firms:

A star's fall and rise
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Not Fun in the Summertime
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Wilson Sonsini's Austin office to avoid administrative cuts
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Wilson Sonsini to lay off staff
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NY Firm Awarded $1.5 Million From Defecting Name Partner
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More Students Seek Law Degrees
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Experts Predict Firms Will Close Seattle Offices
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Arnold & Porter Raids NY Firm's DC Office
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Credit Store:

The Credit Store To Complete Restructuring Plan In Chp 11
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Credit Store files for Ch. 11
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Steel:

Sand Springs, Okla.-Based Steel Company Emerges from Bankruptcy
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Murphy still may try to obtain LTV property
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Qualstan files for Chapter 11
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Federal judge says government reneged on agreement with Philadelphia savings and loan
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Email Evidence Ups The Ante

Hong Kong:

Hong Kong Personal Bankruptcies Rise As Economic Slide Continues
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Germany:

Crisis on the field of dreams
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England:

Insurance rises will push up insolvencies
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Fraud law set to hit UK firms
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