December 13, 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

         
Telecoms:

Rakoff, The Hanging Judge
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Capellas took cut to lead telecom
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Ebbers' high-risk act came crashing down on him
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Global Crossing reorg delayed
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Where the 1996 Telecom Act Went Wrong
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Sorrento restructuring plan to favor debt holders
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Skadden lands Genuity bankruptcy work
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General DataComm Reports Monthly Profit
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Agway paid bonuses day before bankruptcy
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Former Trustee of Bankrupt Salt Lake City Firm Faces Embezzlement Charges
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AGY:

Advanced Glassfiber can tap DIP
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Aiken Advanced Glassfiber Yarns plant files bankruptcy
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AGY Receives Approval of First-Day Orders in Connection with Reorganization
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Enron:

Judge says fees out of line, but OKs all
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Prosecutors Expand Probe of Enron's Skilling
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Happy Holidays, Enron-Style (click on Heineken ad, "A Very Special Snow")
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Nova Scotia won't review Enron tax loophole
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Energy:

Overcharge to Calif. put at $1.8 billion
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FERC's ruling throws state a $7 billion loss
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Calif. Vows to Fight for Energy Refunds
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PG&E Units/Funding: May File For Bankruptcy Protection
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AES gets backing for credit swap
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Two PG&E National Energy Group Power Projects Obtain New Financing Commitments From Lenders
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Court Approves EOTT's Settlement Agreement With Enron and Sets Date For Approval of Reorganization Plan
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Energy suppliers overcharged California, still owed money
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Asbestos:

Halliburton faces key ruling
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Halliburton Weighs Novel Step To Alleviate Asbestos Liability
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Asbestos cases hurt Halliburton
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Groups strive for deals on asbestos cases
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Gendarmes Raid Ex-vivendi Chief's Homes And Offices
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Genesis decision closely watched
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The Rise and Fall of Dennis Kozlowski
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Investigators Eye Home Appraisers
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HMO's Chapter 11 filing rejected
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EOTT plans deal to settle lawsuits
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What's good for United may not be right for you
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Retirement Dream Dries Up in the Sun As Fund Disappears
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Take D.C. Health Care Alliance off its life support
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Winery's bankruptcy a sign of industry stress
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  Delaware's bankruptcy boom is softening
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New Corporate Knights Fix Dented Reputations, Then Submit Hefty Bills
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Airlines:

Bank One taking risk with UAL DIP financing
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United drops standby fee
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Stakes are high as United's creditors square off today in wake of bankruptcy filing
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UAL Strategy Chief Outlines New Business Plan for Airline
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Glenn Tiltonís Plan to "Transform" United
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Airline's proposal would cut pilot's pay by a third
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How to Keep United Flying
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United to launch low-cost carrier
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Judge gives OK to pay DIA fees
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United and Unions Discuss Changes
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US groups face huge losses on United leases
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United considers plan to challenge low-cost carriers
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United Discloses Stunning News of Soaring Daily Losses in Late November
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Plan B for United
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Upstarts may encroach on United
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UAL rejected buyout overtures
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US Airways to ask court for extension, new leases
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Pilots, Mechanics Hit Hard by Collapse in United Airlines Stock
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Court Gives US Airways More Time to File Plan
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United loan agreements set break-even deadline
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Bailouts Leave Bitter Taste For British Airways' Chief
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Cruel phoenix
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SFO to remain hub for United
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Playing the fools? - Speculators turned loose to milk last few cents from UAL stock
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Avatex nears liquidation
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N.Y. Bank Guilty in Laundering Case - Broadway National Failed to Report Millions in Suspicious Deposits
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Peregrine:

San Diego Software Firm Peregrine Seeks Approval to Use Law Firm
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Peregrine Systems seeks OK of settlement pact with IBM
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Organogenesis:

Organogenesis bankruptcy a hard lesson in investing
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Organogenesis Woes Impact New England Aquarium
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Bankruptcy won't slam door on owning a home
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Safety-Kleen says Justice Department, SEC issues resolved
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4 former Safety-Kleen executives charged
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Planet Hollywood puts stars' costumes up for sale
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Some Suppliers Stop Shipping to FAO Schwarz
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'Bedroom Store' To Hold Court-Ordered Liquidation Sale
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Actrade Files for Chapter 11
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Art in bankruptcy must be sold
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Birchtree trustee hopes to sign operator
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Jobs - 784 Jobs - Last Updated December 10, 2002
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Bankruptcy in America - The night of the killer zombies
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Holders of Senior Bonds Take Beating in Bankruptcy Filings
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Wolf Camera cleared to liquidate
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Judge Upholds Plan Barring More Dow Corning Implant Suits
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Law Firms:

A lawyer is ordered off the biggest case of his career. Why? He hired a paralegal
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Clifford Chance outpaced by US rivals as NY expansion stalls
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A&O to match top Wall Street rates in 2002 bonus round
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Three Partners Bolt Firm
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Tech Firm's Partners Investing Less in Clients
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Reed Smith drops Warner Cranston name
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Brobecks partner exit fuels speculation over Morgan Lewis
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Market divided by Gouldens merger
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Lathams promotes 20 to Partnership
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Osborne Clarke confirms Beswick as new managing partner
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Summit Electric to buy bankrupt Texas company Warren Electric
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Vatican Announces Law's Resignation
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HIG cleared to buy Desa
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Aladdin casino clears hurdle on way to possible sale
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General Magic:

Spell wears off General Magic
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General Magic Files for Bankruptcy Protection
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Sia attorneys sued over assets allegedly hidden with help of high-powered law firm
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Accounting:

Accounting firms raise fees, cut clients post-Enron
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KPMG Is Sued by Missouri Agency
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Vivendi offices in Paris raided
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Inquiry at Tyco Is Unlikely To Settle Accounting Issues
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Intracel Climbs From Bankruptcy
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Digital Commerce Corp. Emerges From Bankruptcy
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Canada:

Calgary Philharmonic needs $1.5-million to survive
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Can John Hunkin save CIBC?
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Hong Kong:

New World restructuring OK'd
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Japan:

Japan Company Bankruptcies Fell 21% in November
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Key Japan business survey improves but outlook gloomy
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Bank of Japan buys bank shares
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Germany:

Bankrupt German Media Co. Buys Films
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