August 26, 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

         
Airlines:

Spate of airline woes raises concerns for passengers
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Profits or losses, managers still win
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Whirlpool says UAL bankruptcy would harm leases
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Vanguard needs millions in investment to return to sky
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Airlines put squeeze on travelers
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Buyout in the Rack of the Ruined - Friendship, Need Eased the Way for Texas Pacific's US Airways Deal
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JetBlue launches attack on loan guarantees
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Time to cut the airlines off
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United Staff Seek Company Recovery Plan
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U.S. airlines hurting before terror attacks
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Siegel Fastens His Seat Belt
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Unfriendly skies cast shadow on SFO: Turbulence in airline industry could cost airport millions
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US Airways Service To Region In Doubt
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Business travelers still hesitant to fly
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Sunshine Laser bankruptcy thrown out
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Energy:

Regulator prevails over PG&E
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PG&E Says Credit Revisions Led to Early Termination of Waiver
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Bankrupt Brill Media sells radio stations
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Economy:

A bounty of supply in America is paid for with lost jobs
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The Recovery That Won't Stop Stalling
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Some justices take busman's holidays
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Houston: 'Perfect storm' hits office market, improving chance for negotiation
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BPA says wants Kaiser to pay if deal rejected
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Bankruptcy Reform:

Political squabbling stalls reform as bankruptcies hit record high
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Some tech 'bubble babies' worth more dead than alive
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Silicon Valley entrepreneurs cash in their chips
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Oakwood warns about ability to pay debt
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Lenders gauging expected impact of new Patriot Act
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Adelphia:

Delay granted in Adelphia fraud case
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Bankrupt Adelphia given 1.5bn bailout - Many creditors oppose banks' restructuring move
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Accounting:

Davis signs bills that regulate accountants
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Wanted: Accounting Oversight Board Members
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Andersen's Collapse May Be Boon to Survivors - Industry Officials Predict More Clients, Higher Fees for Remaining Big Accounting Firms
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Andersen Sells Office Art - Collectors and the Curious Check Out Atlanta Liquidation
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  Kmart:

Blue Light Special
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Kmart Will Not Request More Financing
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Baseball:

A Force Play by Baseball's Bankers?
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Clubs may file bankruptcy in strike
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Lengthy strike could hit teams' bottom lines
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The $uit Fits For Barneys Cheater
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Enron:

Fastow's assets frozen
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Dechert Team Handles Enron's Kopper
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How much for Enron workers? - It is unclear how much the company's former employees will ultimately receive as severance package
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Nonprofit and loss for Fastow charities

New Jersey fines Enron for unlicensed gas business
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The Enron guilty plea
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Ex-Enron CFO's Associates Are Quiet
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Enron-inspired greeting card hits market
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Prosecutors Move Up the Enron Food Chain
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Targeting Skilling, Lay may prove tough

Paper Trials
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IP firm might form: Working its way out of bankruptcy, Electrosource proposes a new direction
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Corporate Reform:

Statistics on CEO salary show opposite of `pay for performance'
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Expensing options may not pay
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Describing executives' pay and perks in plain English
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Vanguard: Out Front on Corporate Reform
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Certification Will Cost Shareholders in Long Run
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Negotiation may help settle big credit debt
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Turnaround firm expands in Wisconsin: SageGroup will open offices in as many as seven locales
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Bank seeks XeTel's gear: Lawsuit pursues repossession of equipment that's leased to financially troubled company
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Telecoms:

Telecom firm sheds bankers
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Creditors to vote on ITC plan
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Already-wracked industry faces 'nuclear winter'
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Icahn's High River announces new tender offer for XO debt
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WebLink Wireless' Plan Of Reorganization Confirmed
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Judge approves ICG reorganization plan
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To fix telecom, companies must get grip on networks
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Citi was bullied by AT&T
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Deals Within Telecom Deals
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At Home's saga ends in liquidation
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New Bankruptcy Opinions
(2 new opinions today)

Bankruptcy Jobs - 58 Jobs - Last Updated August 26, 2002
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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WorldCom:

Life under watchful eye of Ebbers
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Former WorldCom employees want committee at court
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Plaintiffs Want WorldCom To Decide On Settlement By 9/20
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Wall St.'s latest pay headache
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Steel:

Company's financial woes spill over to cities
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Acme Metals seeks court OK for steel auction
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Living on the edge in Utah

Bertelsmann to finally acquire Napster assets
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Trustee sells Biscayne Boulevard condo facilities
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Blanchat Machine files for Chapter 11
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Del. revokes bankrupt Metachem plant permits
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Company takes an interest in 'financially challenged' properties
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Law Firms:

Top minority law firm in Texas merges with New York partner
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Second City Players - Chicago-based firms bulk up in the Bay Area
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Smaller firms posted healthy '01, but this year is 'real test'
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Bay Area Attracts a Whole Host of Out-of-Towners
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New securities laws prove a boon to Silicon Valley attorneys
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Crosby Heafey may mull merger
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Chief Operating Officer From Clifford Chance Is Off to Orrick
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In-House Minefields
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Dayton: Two tool, die shops file for Chapter 11
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Gadzoox goes into cold storage
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Duro files for bankruptcy
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Bankrupt Farmland earned $3 mln July profit
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Judge orders bankrupt CD firm to pay $136 million damages
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Trademark Licenses Unprotected Under Bankruptcy Code
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Seven Fields developer faults Ernst & Young in lawsuit
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England:

Lottery cash to help football clubs
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Canada:

Deloitte stays as GP receiver - Dispute between Stoddart, Scotiabank
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China:

Chinese lawmakers urge crackdown on local protectionism in debt cases
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