December 20, 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

         
Conseco:

Fee hike may save Conseco DIP
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Conseco fights to retain staff bonuses amid strife
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Conseco's corporate ethics questioned by angry shareholders
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Conseco bankruptcy won't affect insurance subsidiaries
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"A bulging-toed Ringling Bros. clown-style size 44"
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Insurance Group Faces Challenge amid Conseco Restructuring
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Conseco pioneered wayward corporate ethics
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Conseco upbeat about buyer
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Conseco Seeks Interim Approval for Financing at Hearing
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Bank of America listed as biggest unsecured creditor in Conseco bankruptcy
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Time for Last Rites at Conseco
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Conseco receives takeover protection
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Malden Mills seen near accord
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Enron:

Judge OK's $65 million insurance payout
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Failed start-up landed among scandals' debris
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Ruling on JP Morgan e-mails imminent
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Enron offered PGE sham deal, agency says
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Skilling's Kazillion Dollar Bash
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Enron accused of wind scam
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Enron--The Movie--And The Movie Business
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Bankruptcy Reform:

Debtor-nation bankruptcy falters
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IMF Working on Helping Nations in Debt
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Bush Signs Bill to Extend Aid to Farmers
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Focal files Chapter 11, expects to emerge by mid-'03
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Accounting:

S.E.C. Begins Formal Investigation of Halliburton's Accounting
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SEC in chaos says Congress
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Feds poised for crackdown
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Energy:

Errors force Allegheny to restate results, bankruptcy warning
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Judge Issues Breakdown on Power Refunds Owed to CalPX
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Contour's Amended Plan of Reorganization Is Confirmed
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Banks ask Xcel Energy to pay more for NRG restructuring
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More changes at top for NRG
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Judge says lengthy contracts signed during energy crisis valid
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Steel:

Union accepts contract concessions to keep bankrupt McInnes Steel open
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Cold Metal to Move Corporate Headquarters to Youngstown
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Steelmaking nations to consider cutting subsidies
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A year to forget
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  Critics say it should be end of story for Chapter 11
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Chapter 11 under fire
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U.S. will pursue outside advisers in scandals
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Airlines:

UAL Corporation Creditors' Committee Selects Sonnenschein as Counsel; KPMG as Accountant
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United chief reorganizes executive team
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Provident hit by United bankruptcy
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Unions say United Airlines is overreaching
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Midway to Resume Flying by Jan. 1
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Midway will fly again, sort of
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Singapore Airlines rules out United claim of interest in equity stake
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United to reduce fares after holidays
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United to cut 599 maintenance workers in January
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Regulators to delay airline alliance
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US Airways ready to present new Chapter 11 plan today
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Analysts to airlines: Focus on cutting fares, not costs
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Telecoms:

Focal and A Novo join Ch. 11 parade
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Auction set for bankrupt Genuity's assets
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Global Crossing's Winnick Funds $25 Million Pledge
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WorldCom Ex-CFO Fails To Link Ebbers to Fraud
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Bondholder Highberry loses Colt court case
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Interoute Emerges from Bankruptcy
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Verizon Laing Off 2,400
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Focal Communications: Reorganization Plan and Agreement with Senior Bank Lenders
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WorldCom wins U.S. govt deal
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GT Group Conduct Meetings with Creditors to Vote on their Plan of Arrangement
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Laidlaw targets March 31 to emerge from protection
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Stop & Shop Gets 18 Ames Leases
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Port of Tacoma approves purchase of Kaiser smelter
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US Catholic Church Heading for Bankruptcy?
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Debt piles up with steady spending
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Sterling Chemicals Emerges From Bankruptcy With $60 Million in New Equity
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Squabble Leaves Wood Flooring Firm Bankrupt
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Rodizio Grill Files Ch. 11
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Corporate Reform:

Regulators and Research Firms Hammer Out Reform Proposal
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Retailers Claim Improved Sales but Some Customers Remain Cautious
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TeamLink Inc. declares Chapter 11
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JP Morgan hit by gold market lawsuit
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DataPlay agrees to sell assets for $1.5 million
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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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Court OKs sale of Tri-State
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Bankrupt Hagale gets $38 million verdict in lawsuit against Lands' End
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Asbestos:

McDermott Files Plan in Babcock & Wilcox Bankruptcy Proceedings
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Asbestos Claims Prove Costly for Honeywell
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Advanced Tissue Sciences Provides Bankruptcy Update
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Kmart:

Bankruptcy fees clobber Kmart
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Kmart now open nonstop until 8 p.m. Christmas Eve
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Kmart Leaves NYSE After 84 Years
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Former Exide CEO Sentenced to 10 Years
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Law Firms:

Greedy and Generous Associates
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Firm Lays Off Staffers
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Two More NY Firms Announce Bonuses
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Partners Defect
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Law Firm Sued Over "Sham" Patent Suits
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NY Lawyer Cannot Invoke Client Privilege in Malpractice Action
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Season the reason for high debts - Bankruptcy trustees busy in spring after Christmas spending binges
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2003: The year of the bank merger?
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Feds probe loan scam
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Owner of Defunct Provincetown, Mass., Reservations System Fails to Appear in Court
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Judge intends to add 3 years to Brennan's sentence
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Bankruptcy judge OKs procedure for sale of Bike Athletic
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Bank was key player in Clayton 'bankruptcy
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State Title trustee proposes settlement with Hunter's widow
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Hong Kong:

Hong Kong bankruptcies fall in November, but still high
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England:

Equitable Life threatens UK government
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Japan:

Japan LDP Official: Giant Bankruptcy Next Spring
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Japan's banks aim to make good money from bad loans
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Accounting reform stirs up debate on quality control
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IMF sees trouble in Japan banks
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Brazil:

Default looms for Brazil's dollar debtors
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