February 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

         
Enron:

Congress Widens Enron Probe to Wall St.
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Natural gas trades may have hidden Enron loans
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Employees' clout may help Enron's quest to rebuild
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Amid Ex-Enron Chief's Troubles, a Rocky Mountain High
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Lay, Skilling Took Part in 'The Sting'
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Skilling knew of Enron partners: Lay
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Bankers believed deals hinged on investment
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Watkins, writer negotiating reported $500,000 book deal
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Former Enron Executive Pressured Banks for His Investments, Documents Show
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Scientist says it's time to change 'virtual Tupperware' system
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Enron Director Hedged Bets
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Accountants Find A Shred of Humor after Enron Scandal
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No Valentine for Vinson & Elkins
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New rules won't cure all Enron problems: SEC chairman
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Duncan invokes Fifth Amendment in deposition
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Enron Executive Defends Partnerships in Law-Firm Interviews
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Barclays 'to face Congress'
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5 firms get Enron Europe creditor voting rights
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Cheney: Rules were broken or need fixing
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GE Is in Talks to Buy Enron Unit
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Skilling lost sleep over Enron - Feb. 19, 2002
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Job Firm Loses Money on Enron
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Enron fosters a new flock of whistle-blowers - Big spike in hot-line calls seen at other companies
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Internet Co. Wants to Buy Enron Unit
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UK shippers face GBP9-mil in Enron smearing charges

SEC's Pitt: Enron Exposes Systemic Flaw
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Bankruptcy filing makes borrowing tough
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FDIC to Help Bail Out Most of Oakwood, Ohio, Bank's Customers
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Bankrupt Advantica Restaurant Chains May Get New Owner
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Kmart:

Kmart Bankruptcy Documents Reveal Liquidation Sale for Closing Stores
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Kmart Officials Remain Mum on Status of Store Closings
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Communities Deal with Empty Retail Space as Wal-Marts Move into Larger Spaces
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Chap. 11 filing roils student travel firms
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Verado Holdings Files For Chapter 11 Bankruptcy In Del
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Workers Cheated by Bankrupt Employers Learn about An Ounce of Prevention
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E-Botz Buys Software Unit of Bankrupt California Firm, NQL
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  More go bankrupt in 2001
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Steakhouse Partners files for Chapter 11
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CRO Is Newest Acronym In Corporate Lexicon
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Two Firms Bet Tough Times Will Continue in Real Estate
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Accounting:

Andersen looks to settle Enron fiasco
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PwC: Sharing the Hot Seat with Andersen?
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PwC Under Audit Chamber Spotlight
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Targeting Arthur Andersen
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SEC's Pitt Calls for `Principles-Based' Accounting Standards in Enron Wake
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OSC to examine accounting methods
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European Court Limits Services Accountants Can Offer
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Accounting Error Trims Another $35 Million from PNC Financial Services Group's 2001 Earnings
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Beware the Crazy Eddies
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Beset over Enron, Andersen faces trial in church-group case _ Suit says firm missed signs that Baptist Foundation Of Arizona was a fraud _ Efforts to warn accountants
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Disney Loses Vote on Separating Accounting Services
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St. Louis-Area Companies Often Hire Executives from Their Auditing Firms
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Galey & Lord:

Galey & Lord files Chapter 11
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Analysts Say Greensboro, N.C., Textile Company May Have Easier Time Ahead
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Steel:

America's ailing mills want another bailout--with the cost falling on companies that use steel
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Bush Faces Decision in Steel Case
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Meeting set for LTV retirees
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Friede Goldman:

Friede Goldman Halter Signs Contract to Sell AmClyde Division
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Hydralift Acquires AmClyde
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Regal to pay Imax $6.5 million
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Telecoms:

Globalstar bankruptcy plan excludes key backer
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Globalstar Telecommunications To Review Options
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Fallout from accounting inquiries victimizes Qwest
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Teligent hits bottom
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NextWave's next stop may be Supreme Court
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NextWave Testing Service While FCC Tests Court
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Nextel falls 22 percent on warning of large charge at unit
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New Bankruptcy Opinions
(No new opinions today)

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

INSpire boss: Bankrupt insurer has suitors
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Attorneys Favor Delaware Courts
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Go For Broke
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Asbestos:

The $200 Billion Miscarriage of Justice
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Law Firm Restructuring:

Large Firms Still Grapple With Advertising Issues
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NJ Firms Not Expected to Grow This Year
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Judge OKs sale of bankrupt BUYandHOLD
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Pressure Increases on Lending Sales Staff
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Guilford Mills waiting for refinancing
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Banks Ask Government to Block State Consumer Privacy Laws
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Steep rise of executive compensation under scrutiny - Stock benefits skewed toward those at top
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Lawsuit filed to bankrupt Sept. 11 suspects
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Goldman Sachs Moves to Tighten Stock Analysts' Independence
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Kirch: Financial Problems Expose Poor Quality of Collateral
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Airlines:

United struggles with costs after mechanics deal
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Before deal, United sought legal advice on bankruptcy

Bankrupt Air Cargo Carrier Kitty Hawk Considers Buyout Options
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Japan:

A quiet New York City venture fund is taking over Japanese businesses that are beloved--and broke
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Koizumi needs a shift from his sacred reforms
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Chogin Tokyo holds 177 fictitious accounts, paper says
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England:

Banks say 60 million bail-out may not be enough
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Hatfield in the sky
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Byers forced into 30m bail-out to stop air traffic service collapsing
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Canada:

Canadian banks: Watch for credit woes, not profit
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End of the line for Eatons
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Singapore:

Car loans driving more people into bankruptcy

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Korea:

Court-approved rehabilitation plans expected for individual bankruptcies
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