February 1, 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


The Enron watch

Houston, we have a problem  

Minutes From a 1997 Meeting Reveal
Enron Brass Were in Partnership Loop
(WSJ: separate paid subscription required)

In Houston, A Cry From The Heart

Motions filed for former Enron workers

Enron Says It Can't Supply Data

Enron's Lawyers: Eyes Wide Shut?

Enron Bosses Remain Jet Set as Firm Sinks

Experts Split On Best Course For Enron Creditors
(WSJ: separate paid subscription required)

Probe likely to blame former execs

Enron's India power plant goes under the hammer

Enron Canadian assets may be tough to sell

Enron Report Ties Firm's Demise To Those Who Formed Partnerships
(WSJ: separate paid subscription required)

Enron execs pocket big bonuses

Enron exec concedes he gave poor advice 

Dynegy takes control of Enron pipeline

Lawyer opposes Enron access to funds

Enron, Global Crossing Collapses Cost Pension Fund $121m

Skilling and Fastow agree to testify

Stock or Stake for Enron Creditors

At Lay hearings, lawmakers out to lift 'shroud of secrecy'

Enron Collapse Took The Energy Out Of Bandwidth Trading

Barclays Hires Ex-Enron Executives To Run New Energy-Trading Venture

Enron Using Co Jets To Send Employees To Hearings
(WSJ: separate paid subscription required)

Lays' Assets Are Still Substantial

Creditors Will Mull Enron Plan

Smaller Enron can be saved, new CEO says

Enron Vacates Most of Its California Offices

White House Got Candidate Names From Ex-Enron Boss

Enron's web of complex hedges, bets

Enron Has Failed to Provide Information on Partnerships, Senator Says

Enron Exposes Campaign Finance Myths

Firm sues Wall Street giants for role in Enron

New Texas Suit Filed Against Former Enron Execs, Andersen
(WSJ: separate paid subscription required)

Enron Employee Aid Fund Raises Funds

Ex-Enron officer Kopper subpoenaed by House Energy panel

Huge bets paved way to Enron's downfall

Sale of Enron's Power Unit In India Could Take Years
(WSJ: separate paid subscription required)

New Enron probe launched

Chattanooga, Tenn., Steel-Plant Operator Has Unique Agreement with Enron

Bush to Propose Post-Enron Limits on Stock Sales

New T-shirts capitalize on Enron's woes

Enron director steps down as head of UK watchdog

Few of Lay Family's Real-Estate Assets Are on the Block, Listing Records Show
(WSJ: separate paid subscription required)

Enron boss had memo writer's computer seized, her lawyer says

FERC to focus on Enron's role in Calif. energy crisis

Economy, Enron Debacle Pressure Surety Bond Market

Calif Gov Says Enron Influenced Opponent's Energy Policy
(WSJ: separate paid subscription required)

MSN High-Speed Plans Delayed by Enron Woes

Dems to Slam Elizabeth Dole Over Enron

Enron Pension Participants Hope To Cash in on Insurance Policy
(WSJ: separate paid subscription required)

Ex-Enron officer is mourned 



It's official: McLeodUSA goes bankrupt

Verizon not keen on distressed telecom assets

Chap. 11 plan gives firm control of McLeodUSA

Next for NextWave: Sink or Swim

Lucent Says Global Crossing Owes More Than Is Listed in Court Filing
(WSJ: separate paid subscription required)

Forstmann in control after bankruptcy

Hill probes mum on work taken from Global Crossing

Get Off the Telecom Toboggan

Bankruptcies continue to rise in telecom service segment


North Charleston, S.C.-Based Fabric Maker Take Steps Toward Restructuring

Despite Recession, Perks for Top Executives Grow

Tyco-Comdisco deal could fizzle

Pillow fight comes from unlikely source

Zilog expects bankruptcy plan for next quarter

Public company failures hit record in 2001

Mighty J.P. Morgan in the Hot Seat

A $600,000-in-debt horror story

Bankrupt Rental-car chain to trim sites 


Senator asks for federal help for former TWA pilots

As United Air Struggles, Talk Among Analysts Turns Downbeat
(NYT: separate free registration required)

More Losses for Ailing Airline Industry 

America West Revenue Drops 30% As Sept. 11, Recession Pinch Results
(WSJ: separate paid subscription required)


Credit Derivatives See Resurgence As Asian Banks Seek to Buy Debt
(WSJ: separate paid subscription required)

Wall Street's new red flag: Management changes

Firms Keep Closer Eye on Accounts; Ratings Agencies See Clout Increase
(WSJ: separate paid subscription required)

State Title liability murky

Spin on tech financial results comes under more scrutiny

Chattanooga, Tenn., Auto-Parts Maker Wheland Heads Back to Bankruptcy Court

Derby Cycle Gets Court Confirmation Of Liquidation Plan
(WSJ: separate paid subscription required)

Loan guarantees spell bankruptcies for four

Texas-Based Inspire Insurance Solutions May Soon Run out of Cash


Regulators move to speed accounting overhaul

Extra Services Pay Off Big for Auditors of Some of America's Biggest Companies

Accounting organization yet to see need for wholesale changes in wake of Enron

Despite Clear Conflict of Interest, Many Accountants Join Firms They Audit

McCall asks 7-year limit for accountant firms

Audit Firms Are Set to Alter Some Practices
(NYT: separate free registration required)


Federal Pension Agency Meets with Retirees, Former Workers of Engine Company

PhyCor plans short stay in bankruptcy

Law Firm Restructuring:

New Partners

Pillsbury Gives (Most) Associates a Salary Boost

The State of the Economy: How Bad Is It?


TreeSource Industries, Inc. Emerges From Voluntary Chapter 11 Proceeding

Applicast Reorganizes

PhyCor Files Pre-Negotiated Chapter 11 Petition to Facilitate Restructuring

Insurance firms defend use of credit reports


New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Jobs - updated 1/29/2002
(DBN Subscription Required)

Bankruptcy Court Web/Pacer Site Directory

Treasury's O'Neill urges sovereign bankruptcy tool

Closing Books on Dot-Coms


LTV gets interest, but doubts linger

6 preparing bids for LTV steel mills

LTV Plant Deal Postponed by Customer's Woe

WCI Steel's Losses Surpass $100 Million at End of Fiscal Year

Steel interested in bidding on parts of LTV Union spokesman calls news ‘surprising under these conditions.’


WebLink Wireless files reorganization plan

Providian Delays 4Q Announcement

Polaroid Retirees, Creditors Face Uncertainty

Breast implant compensation cash due this month

Implant women seek right to sue Dow

4 Audit Firms May Ease Role in Consulting 


Red light special for Kmart

Martha Stewart sticks by Kmart -- for now

Shoppers pick Wal-Mart, Target over Kmart Survey shows struggling retailer wasn't preferred by any demographic group

Small creditors likely to lose out with Kmart

Kmart Shoppers Find a 'Bargain'

Kmart: Will Continue Newspaper Ads

Kmart Sees Bankruptcy Emergence in July 2003

Kmart fans rally support

Kmart to Reveal Closings in March

Secret Shoppers Hit Kmart and Its Rivals in Detroit Area


Hospital downplays bounced paychecks

Tiny Computers files for bankruptcy in Britain

Ubrandit.com says files Chapter 7

Power Utilities:

PG&E Wants Reorganization Approval

PG&E Submits Filing to Securities and Exchange Commission



Analysts consider possibility of large-scale crash

Civil Rehab Law For Failed Fincl Entities
(WSJ: separate paid subscription required)

FSA to apply new law to failed banks



Select committee blames Blair over rail crisis

NTL Says It Plans to Restructure Debt, Finally Confirming Investor Suspicions
(WSJ: separate paid subscription required)

UK mobile software maker RTS calls in receivers



UPC to Convert Debt Into Stock, Defaults on Payment



Stelco outlines woes in letter to workers



Argentines scramble to buy dollars

Argentina's Talk of New Aid `Premature,' IMF Says


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