February 21, 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:

Lay told analysts of faith in CFO; Fastow placed on leave next day
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Judge to firm: Dissolve Lay order
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The Line of Fire - Enron reporters duck as the rich revolt
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Don't blame the lawyers for Enron: Unlike accountants, lawyers' primary obligation is to their clients - even if that entails hiding information
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Two Insurers Seek to Void Enron Policies
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No Accounting For It - Documents show Enron hid a disastrous bookkeeping error from investors
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Hearings On Enron: Could This Get Ugly?
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Insurers Balk at Honoring Enron Policies
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Andersen officials giving depositions in Enron lawsuit

Enron agrees to sell Enron Wind to GE
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Lawyer named in lawsuits will retire from Enron post
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Up In Smoke
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Mentality of Milken links troubled firms
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New retention bonuses likely so key personnel will remain
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Enron's new chief executive says probe may send some to jail
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Fire sale: Power plants priced to move
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SEC Chief Pitt, Accountants' Advocate, Is Odd Man Out on Enron
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Sticking It to the Man - Disgruntled Enron workers mount an impromptu exhibit: The art of the deal
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NewPower Holdings says in merger talks with Centrica

Enron lawsuits will go forward in Houston court
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Enron ventures got over $1 bln in U.S. aid

Government aid to Enron could haunt taxpayers
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Florida seeks answers on investing in Enron
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Clinton helped Enron finance projects abroad

Ex-Treasury chief offered, declined Enron board job
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Enron Manipulated Calif. Power Market-Former Employee
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401(k) cases no longer in limbo
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The Kopper Caper - Enron's secret domestic-partner benefits program
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Enron's Judge Not
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Enron's Benefits Shell Game? - Benefits Specialist Charges Enron Tried To Hide Millions
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Hartford's Deal With Enron Is Questioned
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Arkansas Retirement Targeted By Enron
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Fastow defended partnerships
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House Democratic Whip Pelosi Ties Enron to Picking Regulatory Chief
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Enron Workers to See Documents
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Bankrupt Fort Worth, Texas-Based Insurance Firm Posts $68 Million Loss for 2001
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Stanley Among U.S. Firms Warming To Bermuda To Reduce Taxes
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Bad debts threaten credit card issuers
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Global TeleSystems Wins Confirmation Of Chapter 11 Plan
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Consumer Finance Firms' Outlook Bleak, Fitch Says
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Vornado Cancels Monday Foreclosure On Primestone Holdings
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Gosman turns down bankruptcy deal
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  Law Firm Restructuring:

Rumors of Partner & Associate Layoffs in Philly
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LeBoeuf Announces Associate Bonuses
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Shareholder lawsuit claims set to soar - Industry is facing a disastrous run on D&O policies
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Judge approves Harbison DIP
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NYSE urged to adopt reforms
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Kaiser:

Letter from Delaware: Kaiser is fearful
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DIP Dimensions: Kaiser Aluminum
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Senators ask again for Kaiser audit
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Telecoms:

Boutique Firm in Thick of Global Crossing Brouhaha
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Ex-Global Crossing Exec to Sue Company
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Telecom Tangle: Industry Under Fire
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Worldcom's Bad Trip

Firm says working with SEC on Global Crossing probe
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Global Crossing Cosseted Executives
As Pink Slips Loomed, Stock Fell
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Telecom under pressure on probe into contracts

Deal's Loose Ends Are Tied to Global Crossing
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Nextel wobbling under huge debt load
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Network expanded on swaps
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Global Crossing chairman had side deal with company linked to buyout bid
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Gaylord bondholders get 24 more hours to tender
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Junk Bond Default Rate Hits 10.4 Percent
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Steel:

LTV auction could get complicated
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U.S. Steel Submits Bid for LTV Assets
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Co-Steel losses hit $115.8 million
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Ex-Steel Exec Involved in LTV Bid
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Steel bar imports hurt American firms, panel rules
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Fence Made Of Foreign Steel Torn Down
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A future, with or without steel
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American Classic Voyages seeks more time
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Champagne runs dry as sponsors ditch Formula 1
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Guilford Mills Pursuing Bankruptcy
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Kmart:

Kmart Shareholders Group Says Company Solvent
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Kmart to Withdraw From Daytona
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Martha Stewart Meets Forecasts Despite Kmart Woes
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Martha Stewart Net Falls; No Kmart Effect
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Kmart Thinning Its Ranks
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Kmart makes customers happier
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Las Vegas bankruptcies jumped 35 percent in 2001 slowdown
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Personal bankruptcies in Delaware climb 21%

Bankruptcies climb to new record Individuals join corporate rush for protection
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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

Kellstrom enters bankruptcy-and-sale deal
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Comdisco to File Reorganization Plan by April 15
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Accounting:

Partners at Andersen's Houston Office Give Lawyers Road Map to Enron Actions
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Creative Accounting: Four Areas to Buff Up a Company's Picture
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Andersen May Settle Enron Suit
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Andersen's $600 Mln Enron-Settlement Bid Is Rejected
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Andersen trying for Enron settlement - Offer unlikely to appease shareholders, creditors, employees
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Andersen Talks With Enron Panel,
Though No Settlement Looks Near
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EU deals blow to accountants
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GE Opens Books Amid Accounting Frenzy
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Computer Associates Faces Probe Into Revenue-Booking Practices
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Lucent Ends Consulting Contract With Its Auditor Pricewaterhouse
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Judge approves Audio Visual's exit plan
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W.R. Grace seeks OK to close plant
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Experts Say Bad Time for Bankrupt Aircraft Maintenance Firm Sale
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Gap falls deeper, bankruptcy speculation
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Whistle-Blower Sites Mine Clues Amid Mountains of Suspicion
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Power Utilities:

PG&E opposes Calif. bankruptcy plan
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PG&E Criticizes State's Reorganization Plan
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Calif. regulators set to clear way for power bonds
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PG&E, California Regulators Gear Up for Battle on Utility's Future
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PG&E Doubts Reorganization Plan
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Management Team at Irvine, Calif.-Based Coco's, Carrows May Be on the Way Out
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Picking Some Junk Bond Winners and Losers
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Built for the boom, many technology office parks stand empty now that firms are cutting back
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England:

Over a barrel
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Barclays Bank provided crucial loan at genesis of Enron scam
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Standard Chartered sees hike in bad debts
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Energis dives, bankruptcy seen looming after strategic review
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Canada:

Dylex creditors to receive part of their claim
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New deal struck to sell struggling Skeena Cellulose
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Troubled Skeena may be saved
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Canadian banks in glum lineup to present first-quarter earnings reports
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Argentina:

Argentina forbids bankers' exit
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Chase Accused of Costly Argentina Swaps Delays
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