August 29, 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

         
WorldCom:

Former Worldcom CFO indicted
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Indictments against Sullivan latest low in once high-flying career
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The Indictment
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U.S. Raises Stakes in WorldCom Case
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WorldCom sees divisions deepen
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Fast and Loose At WorldCom - Lack of Controls, Pressure to Grow Set Stage for Financial Deceptions
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3 WorldCom officers agree to plea
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Sloppy, Unethical, Criminal
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U.S., Pushing WorldCom Case, Indicts Ex-CFO and His Aide
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Former Worldcom executives may cooperate with investigators
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Salomon's Deals Prod Congress To Consider Expanding Probes
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WorldCom layoffs continue
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Ex-WorldCom CFO may go on trial - Sullivan may take chances with jury as plea talks break down
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Letter from Delaware: Rankled about rankings
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Brill:

Brill Media calls it quits
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Oakland Press owner buys bankrupt Brill papers
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Accounting:

Price of Shame? Andersen Pays $60 Million to Enron Claimants
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Will Pitt Pick an Accounting Watchdog Who Can Bite?
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New tax rules could cause a run on policies made famous by Ken Lay
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Auditors pocket 848m
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BDO refutes false statement accusations
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Andersen Worldwide sued by Brazil bank for $350 million over accounting
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Profession begins weighing impact of fraud legislation
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Widow of 'Bankruptcy King' has to file for Chapter 7
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Citigroup may have given many firms IPO shares
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Chivor gets loan extension
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Malan Realty shareholders approve liquidation
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Who's Policing the Credit Cops?
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Bankruptcy Reform:

Proposed Reform Would Hurt Many North Carolina Bankruptcy Filers, Groups Say
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MBNA picketed over support for bankruptcy bill

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  Telecoms:

What's Alarming the Bells - Rivals are finally cutting into their local-phone monopolies
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360networks in turnaround mode
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Icahn expects 95% of XO debt
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Marconi near restructuring accord
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Marconi confirms shareholders to get 0.5%
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Grapes telecom to restructure
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4bn deal to save Marconi
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Icahn: Tender For Senior Debt Of XO Communications Is Successful
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SEC Rebuffs Global Crossing Proposal
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Airlines:

US Airways union splits on wage and benefit cuts
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DIP Dimensions: US Airways
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National Airlines close to new financing
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Major airlines' penny-pinching ways could backfire
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Hooters Owner Asks to Fund Vanguard
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Airports Get New Scrutiny Amid Bankruptcy Talk: Rates of Return
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Airlines flying away with bailout bundle
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UAL Shares Fall, as Analyst Sees Bankruptcy as Near-Inevitability
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US Air Machinists' Union Reject Company's Restructuring Plan
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US Airways union mulls wage concessions
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Sun Country still losing money
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Law Firms:

The Law: Fencing In the Foreign Lawyers
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More retailers feel slump
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Corporate Reform:

Remembering The `Business' In Business Ethics
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Survey Shows Global Impact Of Corruption, Lapsing Ethics
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Cash-poor Integra nears bankruptcy
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Steel:

National Steel Corporation Announces Chapter 11 Update
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Economic downturns erode strikers' leverage
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Asbestos ills on Congress' fall agenda
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New Bankruptcy Opinions
(No 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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A public in debt
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Restructuring officers respond to corporate distress call
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Jacobson's liquidators sell other merchandise
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Enron:

Reaping the Wind
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Funny foundations
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Enron Probe of Ex-CEO Lay Centers on Pre-Bankruptcy Stock Sales
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Enron Employee Committee Comments On Approval Of Severance Payments
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Government Wants to Move Enron Creditors' Suit Out of Bankruptcy Court
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Times Are Tough for Former Enron Bosses
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Texas Gubernatorial Candidate's Camp Defends Bank's Enron Dealings
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Enron pay plan gets OK
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Portland may go after Enron utility

Judge Boosts Severance Payouts To Former Workers at Enron
(WSJ: separate paid subscription required)

The Real Story of the Watkins Memo
(Business Week: separate paid subscription required)

Kopper's $12 million held up - Injunction puts payment in limbo
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Baldwins' US failures threaten group
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Court Freezes Real Estate Holdings of Former Adelphia Communications CEO
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Napster to Seek Approval of Sale
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Baseball:

Fleet stake in MLB strike seen
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Tech bankers: An endangered species?
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Detailing Boo's demise
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Holzmann US unit set to be sold by insolvency administrators
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England:

No-win situation
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Korea:

Daewoo Halts Production
(WSJ: separate paid subscription required)

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Brazil:

When an IMF Bailout Isn't Enough
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