August 22, 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

         
Energy:

Jurisdictional nightmare
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Why FERC is handling CalPX bankruptcy
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Calif. to decide on power deals to cover shortfall
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Valeo Electric disclosure approved
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Enron:

Enron Probe Using Aggressive TacticsA
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'Vital' Enron first step
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Friends Say Ex-Chief Despairs, Seeking Someone to Believe Him
(NYT: separate free registration required)

The First Domino at Enron
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Subject to seizure: List of accounts, properties
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Ex-director to help U.S. probe Enron
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Michael Kopper - A go-getter who learned from Fastow

Enron Official's Settlement To Go to Restitution Fund
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Kopper-bottomed case
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Enron noose tightens as aide sets deal
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Lay knew nothing about Enron deals, lawyer says
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U.S. Eyes Enron Officials' Millions - Information From Colleague Used Against Fastow
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U.S. Seeks Fastow Asset Seizure
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`Offshore special purpose entities' . . . start worrying
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Will the Feds Move into Fastow's Castle?
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Ex-Enron workers must wait for funds
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Kopper admits kickbacks - Ex-Enron executive says Fastow is involved
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Feds want Fastow, others to cough up $23M
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Payback for Enron Investors?
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Feds target assets of Enron principals - 8 linked to fraud face forfeiture action
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Another secret deal earned $4.5 million - RADR created to sell wind farms
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Law Firms:

The Harder They Fall - A look inside Brobeck's civil war
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Partners Seek Out Mergers, New Berths Following Firm's Collapse
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Ex-Partner Gets Jail Time for Tax Scam
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Couche-Tard closes Dairy Mart purchase
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CSFB closes in on Polymer
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Adelphia's up to $1.5B DIP loan syndication complete
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Los Angeles Man To Plead Guilty in Ponzi Scheme That Lost $21 Million
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The Agent, the Trader, and Secret Data
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Letter from Delaware: Calling up old powers
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Devon Mobile gets $3.2M DIP
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Conseco Bondholders Hope For Quick Deal On Eve Of Mtg
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  Budget buyout still in limbo
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Federal Investigators Probing Kmart's Finances
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Airlines:

Critics decry airline loan board
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Investors like moves by airlines
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Airlines Grimly Enter Key Season; Capacity Cuts May Help
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National Airlines in DIP talks
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American's boss fears bankrupt air carriers
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PPL's Brazilian Affil Files For Debt Protection
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American Airlines CEO hints at more cost cutting
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Frequent fliers likely will get to use miles
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Highwoods' filing says US Air lease payment must be returned
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US Airways Has Plans to Shrink Mainline Jet Operations Further
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Sun Country seeks profitability with new planes, schedule
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Citigroup IPO Probe Expanded by House to Include Global Crossing Managers
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Asbestos:

Asbestos Maker Escapes Sanctions Over Backdating Allegations
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Roadhouse:

Roadhouse, creditor reach accord
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Court OKs Roadhouse plan
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Corporate Reform:

Still the best system?
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WorldCom:

WorldCom Deal With AOL Under Scrutiny
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Close ties ... not a surprise
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Foes call former WorldCom CEO Ebbers a 'robber baron'
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Jackson Family Bankruptcy
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Why Martha Has Congress Boiling Over
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Hundreds of charges against Abdelhak dismissed; hundreds remain
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Taxpayers to help pay $9.6 million to dispose of bankrupt nuke waste
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Big Awards Debunk Myths of Arbitration
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Telecoms:

SpectraSite finally gets good news
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No new bidders for Napster by bankruptcy deadline
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All Going-Out-of-Business Sales Final for Ames Shoppers
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HPIS emerges from Chapter 11 Bankruptcy
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J.P. Morgan Chase ratings may be cut by Moody's
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Black Hawk casino hit by financial woes
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Bill Knapp's closing shocks workers, customers
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New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Jobs - 54 Jobs - Last Updated August 19, 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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Phoenix Group:

The Phoenix Group Corp Files For Protection Under Ch 11
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Dallas: Phoenix Group files for Chapter 11 bankruptcy
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The Phoenix Group Corporation Announces Potential Lawsuits in Connection with Bankruptcy Proceedings
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DIP Dimensions: Ha-Lo Industries
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Steel:

Hunt in group buying Republic Technologies assets
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Judge sets date for Gulf States Steel auction
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New Algoma Steel CEO has experience turning a company around
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Air Canada to cut 1300 jobs as summer travel slows
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Court Allows Fort Wayne, Ind.-Based Steel Dynamics to Buy Pittsboro Steel Mill
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Accounting:

1 in 3 CPAs Get Pressure to 'Fudge' Numbers
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Bad Accounting Revisited

Accountants Favored Over Lawyers in Dating Poll
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PwC Survey Reveals U.S. Companies Fail to Identify and Manage Issues of Public Concern
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Canada:

Death of Alberta oilman delays decision on dispersal of wells and property
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CIBC profit plunges, bank cautious on outlook
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England:

Warning as business failures rise
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Germany:

Calypso Film files bankruptcy
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Finland:

Finnish bankruptcies continue to rise
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