August 7, 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

         

Suing the Accountants: Vitriol and Paperwork
(NYT: separate free registration required)  

Adelphia:

Judge Settles Adelphia Stadium Case
(DBN Subscription Required)

Tax Probe of Adelphia Founders Follows Filing of Fraud Charges
(WSJ: separate paid subscription required)

Adelphia Nominates Two Additional Directors
(DBN Subscription Required)

Adelphia Founders Face Tax Probe
(DBN Subscription Required)

Erkie makes his pitch
(DBN Subscription Required)

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Accounting:

Joe Berardino's Fall from Grace
(DBN Subscription Required)

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Economy:

Economy Stirs G.O.P. Worry in House Races
(NYT: separate free registration required)

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Lawyers hash out who gets paid what in the Polymer Group bankruptcy reorganization
(DBN Subscription Required)

WorldCom:

Digex plans to lay off 20% of work force
(DBN Subscription Required)

AT&T Corp. Wants WorldCom to Pay $57.6 Million Security Deposit
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WorldCom 'alumni' organize relief fund
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WorldCom CEO likely to feel heat as creditors, execs meet
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WorldCom woes hit Indian phone firm
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Pension funds calculate losses
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WorldCom woes to hit Fair, Isaac
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Steel:

Foundations to Buy Former LTV Site
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CornerStone Propane Partners, L.P.Elects to Forego Fiscal Year Earnings Release and Cancels Scheduled Analyst Call
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Employees of bankrupt companies join 401(k) lawsuits
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Dallas: VHB files for Chapter 7 bankruptcy
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Companies In Chaos
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Airlines:

US Airways sued over missed payment
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Consultant sees 'worst of times for the airlines'
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Judge tentatively OKs Midway plan

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Cajun Electric buyer, NRG, to sell La. assets
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Tyco Spent Millions for Benefit Of Kozlowski, Its Former CEO
(WSJ: separate paid subscription required)

  Budget has two weeks
(DBN Subscription Required)

Telecoms:

Telecom gear makers face carrier bad-loan problems
(DBN Subscription Required)

Lenders Oppose Pacific Crossing's Use Of Cash Collateral
(WSJ: separate paid subscription required)

Flag reorganization plan advances
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Bankruptcy judge orders Birch Telecom to back up income projections
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History lessons for wireless networks
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Telecom "Joes" Vs The WorldCom "Volcano"
(WSJ: separate paid subscription required)

Ricochet set to bounce back
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Versatel prepares to emerge from Chapter 11
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Half a deal better than none for Global Crossing
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SEC Probe, Bankruptcy Fears Slow Qwest's Directories Sale
(WSJ: separate paid subscription required)

S&P cuts Level 3 on cash flow concerns
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Versatel loss narrows
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2 ex-suitors return as top contenders for Global Crossing
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Not your typical bankruptcy - rubbing shoulders with the likes of Cameron Diaz, Ben Stiller, and Tobey Maguire
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States Sue Banks to Recoup Stolen Funds
(DBN Subscription Required)

Time-Out for Lawyer Who Wrote Book on Suing Lawyers - Hilton Stein files bankruptcy
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Anna Nicole busts out in record debut
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Enron:

Investigators widen Enron probe
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Enron Investigators Scrutinize Pipeline-Unit Loans for Fraud
(WSJ: separate paid subscription required)

NatWest Three could be key to Enron case
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U.S. investigators probe last-ditch Enron loans
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Dynegy plan would renew pipeline sale
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Law Firms:

VLG Loses First Partners in Nearly Two years
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Beantown Defection Costs Firm Clients
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Firm Raids Rival's London Office
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MacPhee pursues appeal
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FleetBoston chief leaves to pursue politics
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Tri-Valley: Farmers and creditors head to court over bankruptcy
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New Bankruptcy Opinions
(2 new opinions 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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This Week's Poll:
    
BK Polls

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

Yes
No



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Bankruptcy Reform:

Bankruptcy Bill Could Send Attorneys to the Poor House
(DBN Subscription Required)

Blacklined Bankruptcy Code From Davis Polk and Wardwell Showing Changes in Text Between Current Code and Reform Legislation
(DBN Subscription Required)

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Creditors challenge ICH
(DBN Subscription Required)

Round Up the Usual Suspects. Lawyers, Too?
(NYT: separate free registration required)

Energy:

Pacific Gas and Electric Company Receives Ruling From Internal Revenue Service On Bankruptcy Plan
(DBN Subscription Required)

IRS: PG&E plan not fully taxable
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Aquila to Abandon Power Trading, Cut Jobs
(DBN Subscription Required)

PG&E Corp. Scrambles to Extend Financing
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PG&E shares rally on day after Moody's downgrades subsidiary
(DBN Subscription Required)

Pacific Gas Confirmation Hearing On Plans Moved To Nov 12
(DBN Subscription Required)

Judge Gives Firms Time to Settle Case
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ANC: The name's the game
(DBN Subscription Required)

Formerly bankrupt Loews Cineplex files $300 mln IPO
(DBN Subscription Required)

Companies struggle to fill board seats - Candidates balk at personal perils
(DBN Subscription Required)

Debt Agency's Approach To Workouts Draws Fire
(WSJ: separate paid subscription required)

Russia:

Putin Vetoes bankruptcy Law
(DBN Subscription Required)

Vladimir Putin Averted New Tide Of “Non-Civilized Capture Of Property”
(DBN Subscription Required)

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Indonesia:

Jakarta calls for judges in Manulife bankruptcy case to be fired
(DBN Subscription Required)

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Australia:

One.Tel liquidators question bonuses
(DBN Subscription Required)

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