August 6, 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

         
Bankruptcy Reform:

Corporate bankruptcy revamp blasted
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Lobbyists battle over bankruptcy bill Consumer groups, economists oppose bank-backed changes
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The Little Guy Takes It On The Chin -- And In The Wallet
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The ins and outs of bankruptcy reform
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Candidates divided by proposed bankruptcy restrictions
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WorldCom:

WorldCom quits mobile
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WorldCom shutdown warning
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WorldCom denies Euro sales collapse
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Malden Mills:

Malden Mills to try to emerge by year's end
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Malden Mills comeback
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Enron:

Fed team examines Enron bribery claims
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Judge dismisses lawsuit on LJM2

Enron Teesside Operations To Approach Potential Buyers
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Citigroup sued for allegedly misrepresenting Enron deal that served as loan
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NYC workers stole millions after Sept. 11, DA says
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Interliant seeks bankruptcy; CEO resigns
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Auto-Parts Maker to Close, Files Bankruptcy
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Steel:

US Agency Protects Pensions Of GS Industries Workers
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Navarre Buys Encore Software Inc. From Bankruptcy Court
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Adelphia:

Kicking the downed Rigases
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Bankrupt President Casinos seeks permission to make campaign contributions
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Bad loans continue to mount at banks
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Effort to Curb Tax Havens Could Be Costly for Consultant
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  Telecoms:

Internet backbone Genuity on the edge of bankruptcy
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Versatel trustee confident on debt-to-equity rejig
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Decision near on Global Crossing
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Hutchison, STT set sights on Global Crossing -
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E.spire must continue serving customers-U.S. FCC
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Winstar Communications Investor Sues Salomon Smith Barney
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Telecom woes expose insurers
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Lawyers keeping busy with bounty of bankruptcy filings
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Airlines:

Vanguard Airlines grasps at straws
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Midway's plans on 'right track'
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Varig workers seek to oust executives
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Vanguard's failure opens doors at KCI
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United's Dwindling Pile of Cash
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Money-losing National expects rebound in business customers
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Accounting:

Auditors, consultants can't mix - New fraud law bars using same firm for accounting, advice
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SEC Defends OK for PwC to Stay IBM’s Auditor
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AOL Facing More Scrutiny
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Accountancy probe 'may widen' at AOL
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E&Y Comments on SEC Proposal on Critical Accounting Policies
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Energy:

California said to seek new PG&E vote
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Mirant's 'honest mistakes' spark probe
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Lenders Temporarily Waive PG&E Rating Requirement
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Claims assets over $50 million, debts of less than $10 million, but still files for bankruptcy
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Simon buys food company from Ch. 11
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Employers Lose 20 Percent of Every Dollar to Workplace Fraud
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Creditors for NationsRent of Fort Lauderdale, Fla., Want Reorganization Plan
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New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Jobs - 54 Jobs - Last Updated August 4, 2002
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Powered Polls

Will the pending bankruptcy legislation pass and be signed by the President this year?

Yes
No



Ward Creditors' Suit Allowed to Proceed
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Corporate Reform:

The white-collar crackdown brings a parade of suits in cuffs,but can prosecutors make the charges stick?
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Bush's Fancy Financial Footwork
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Corporate crime not limited to bigwigs
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Fraud is fraud: New laws are unneeded, unwanted
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Wine.com fights for survival
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eToys' liquidation plan approved
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Cornerstone Propane:

CornerStone starts to prepare bankruptcy case
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CornerStone Propane Still Not Making Interest Payments
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Glenoit files amended reorg plan
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Hicks Muse, Coho Energy settle suits
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Law Firms:

NY Firm to Launch Houston Office
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Dechert gears up for European assault with German launch
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Firms Cut Back On Hiring New Associates
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NY Satellites Do Tres Bien in France
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Kramer Natfalis Names Bankruptcy Partner
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Intellisec to sell video-monitoring unit
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INTELEFILM Corp Files For Chapter 11 Reorganization
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Pushing South America toward default
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Australia:

14,000 Businesses Face GST tax audit
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Germany:

Commerzbank Shares Reach All-Time Low
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