February 18, 2002 

Daily Bankruptcy News

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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

         
Enron:

Acting CEO Plans Legal Assault Amid Effort to Salvage Enron
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Enron Creditors in $8 Billion Battle for Assets
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Former Enron Employees Applaud Appointment of Committee

Rough Road for Former Enron Employees
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Enron's retired get burned, too
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Handling of claims by Enron queried - Tauzin turns focus on counsel, firm
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How to Profit From the Enron Mess
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Pay for new Enron boss rings to tune of $110,000 per month
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Enron Got Whistleblower Advice
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Taking Enron Scraps to Auction
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Watkins' own ethics questioned by accounting experts
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Enron Case Shapes Up As Tough Legal Fight
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Overcharges showed Enron's books in chaos
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Lay sold shares after collapse warning
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How Enron 'hid' debts in the open
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Judicial Watch Files Suit Against Enron
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New Enron CEO turns company focus to future
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'You just can't pull your eyes away'
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Premonitions

Fake transfer of ownership filed for Lay properties
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Energy Trade Caution Rises Post-Enron
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Lawyer Known for Class Actions Will Lead the Enron Plaintiffs
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The Betrayed Investor - Americans bought into the idea that stocks could only make them richer. Then the market bubble burst -- and then came Enron
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Many Question Enron Execs' Knowledge
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Clan of Raptors devoured Enron Corp., their creator
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Sherron Watkins Had Whistle, But Blew It

Enron's Creditors May Get 20-25% Of Debt Back, but Total Is Unknown
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Enron case increases tips to SEC
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Through the Enron Looking Glass
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TVA chief says Lay pressured him
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Ralph Reed pitched big lobbying deal to Enron
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Global Wreckage Comes to Light / Enron pioneered risky foreign investments / Countries, U.S.-backed lenders survey damage
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Selling clout to Enron
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Enron CAO Sat On Bad News
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Enronitis infects merger activity
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Enron's Overseas Boondoggle
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UC regents named lead Enron plaintiff
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Power play
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Boss sold $194m in stock as Enron folded
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Laid-off Enron workers 'dismayed'
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Huge book deal to tell Enron debacle
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In Europe, the Search Is On for Other Enrons
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Financial scams will occur again
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J.P. Morgan sued in Enron-related class action
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Enron fiasco aided reform supporters
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Giants find themselves in triple play with Enron
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Morale hits an all-time low at Enron 

The Two Enron System
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Enron retirees say executives tapped deferred pay unfairly
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PSALM, Enron Power set to firm up buyout contract
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Waiting for a local Enron to blow up
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The good Enron has wrought
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Enron to release tax records to Senate
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Army Secretary's Enron Role Probed
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Connecticut agency looks for ways to ease Enron loss

Letters Show Lay, Bush Close
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Enron's Overseers Face Questions
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$500,000 deal for Enron heroine
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Will a sunken company sink soft money?
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_________________

  When going bust is big business
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Bankrupt Harvard Industries seeks buyers

Boards of Directors for U.S. Companies Harbor Many Conflicts of Interest
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A Corporate Fear of Too Much Truth
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'White knights' to the rescue
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Compliance Officers--The New Biz Hero?
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Firms rush to remove any whiff of fiscal impropriety
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Dresser provides $35M DIP for bankrupt companies
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Airlines:

Machinists Union Sees Progress in United Talks
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Airlines see some improvement, but slow going
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National Airlines eyeing $70 million loan
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Kitty Hawk Announces Filing of Plan of Reorganization and Transaction Discussions
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Ego fights grounded flights
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____________________

AMD may claim fabless co.
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The Down Economy: Introduction
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Halliburton's Hot Potato: Asbestos
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Telecoms:

Satellite phone company collapses 

Globalstar in bankruptcy protection Deal with creditors to restructure debt
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Globalstar files for bankruptcy
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Telecoms Pounded on Big Debt, Slow Growth
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Maxwell company rewrites accounts
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NextWave says it's ready to start its next phase
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Investors Show Little Goodwill To Telecom Firms' Write-Offs
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Global Crossing Missed The Boat
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Global Crossing's revolving door pure platinum
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House probers eye Global's collapse

At Global Crossing, Deals With Son of Executive Raise Questions
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Global Crossing echoes Enron: Bankrupt firm spent millions on contributions, lobbyists
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____________________

Down on their luck -Casino shutdown leaves tribe fearing the future
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Kmart:

Kmart Struggles to Find Survival Path
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__________________

Bridgeport, Conn., Machines Firm, Parent Seek Bankruptcy Protection
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Court overturns big jury verdict - Brothers had sued Citicorp
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Junk Bond Returns Go Negative
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Bush Leaves SEC in Budgetary Lurch
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SEC talks up tough penalties for offenders
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Credit card lenders raise rates on strapped consumers

Power Utilities:

PG&E parent wants Lockyer suit dismissed
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Edison Posts a Profit of $2.2 Billion
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Edison aims to erase bankruptcy threat by March
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__________________

Auto Affiliate Files Bankruptcy in Norfolk, Va., Court
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Stockton, Calif., Steel Framing Supplier Files for Chapter 7 Bankruptcy
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When the Bottom Falls Out: Workers Struggle to Get Their Pay After Firms Close
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Dotcoms:

New Year, Same Old CyberRebate Nonsense
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Verado to file for bankruptcy
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@Work Bid Pays Off In A Big Way
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_____________________

Hawaii: Summit Communications files bankruptcy
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INSpire Insurance Solutions Files for Chapter 11 Reorganization
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Escrow scams occur nationwide
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NQL Files for Chapter 11 Bankruptcy Protection; Enters Into Asset Sale Agreement for Software Division; Resignation of Two Directors
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Need for recovery and credit counseling services typically increase as debt problems rise in a recession
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New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Jobs - February 18, 2002
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Bankruptcy Court Web/Pacer Site Directory

Accounting:

Scandals Benefit Accounting 'Sherlocks'
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Enron Sparks Debate at Accounting Schools
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Investors to Weigh Accounting, Economics
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Accounting rules hid Enron's debt
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Andersen internal probe clears top managers in shredding case
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Andersen works to secure clients
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Apple Computer Bans Auditors From Non-Financial Roles
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Conflicts common in audit oversight
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Irish investors invited to join dollars 1bn Elan lawsuit
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____________________

Businessman's Suicide Felt Across Neb.
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Offshore business provides 49 pct of Bermuda GDP
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Court approves Nx Networks auction

Utah Bank Takes Control of Charleston, S.C.-Area Cruise Ship
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Stallone Sues Lawyer for Bad Advice
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Steel:

Lorain is bidding for LTV assets
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Silence Follows Charlotte, N.C.-Based Steel Maker's Overture
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LTV, creditors agree to trim bonuses
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Rivals see steel sector better off minus LTV
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_____________________

Free ride turns costly
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Office Vacancy Rates Surge to Record Level in Raleigh, N.C., Area
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Northern Trust's light gets dimmed
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PENTA Advisory Services Opens a Wilmington, Delaware Office and HiresMonty Claybrook, an Experienced Bankruptcy Trustee, to Lead Office
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Chapter 11 Trustee Appointed for ATG, Inc.
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Law Firm Restructuring:

Holding Pattern Is Seen After Law Firm Expansions
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______________________

Bankruptcy filings show disturbing trend lines
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Bankruptcy Filing Makes It Tough to Get a Home Loan
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Tech Bubble Redux
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Bankrupt Carpet Barn to sell Vegas operations
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Comdisco Receives Extension of "Exclusivity Periods"; Gets Approval for Sale of IT CAP Services
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Embattled Med/Waste Inc. files for bankruptcy
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Japan:

The Toughest Job in Japan
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U.S. business leaders rap Japan's reform efforts
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Time for hardball?
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____________________

Hong Kong:

Cards set to hit bank earnings
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____________________

Canada:

Enron Canada to end up with 'at least' half a billion
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Skeena's final reprieve expires on Wednesday
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Credit card transfers can be tricky
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___________________

England:

Enron traders unwind
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Lloyds to cut jobs as profit declines
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Boom time for bosses
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Wage freezes on the rise
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__________________

United Arab Emirates:

Provisions to be followed in local bankruptcy cases
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___________________

India:

Indian banks fear Enron collapse
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_____________________

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