February 25, 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:

Skilling to face Watkins, panel Enron face-off set for Tuesday
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Enron's Green Acres
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Senate Panel to Ask Skilling About Contradictions to Testimony
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Attorneys jockey for top job representing employees
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Unsecured creditors tussle over stock in Enron spinoff
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What do you call yourself when your name is mud?
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Enron says not likely to change name in near future

Enron judge to name examiner
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J.P. Morgan Had Many Ties With Enron
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Wall Street firms face flood of suits over ties to Enron
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Lay Says He Didn't Keep Track of Partnerships Because He Planned to Quit
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Fierce fight to protect 401(k) plans / Lawmakers' limits on company stock could hurt savings
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Skilling Faces Legal Risks in Senate Testimony, Experts Say
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Enron Asks Feds for Insurance Help
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Enron Records Show Lay Was Briefed
On Some Aspects of Questionable Deals
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Petrobras negotiates guarantees for Enron assets
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Houston, City of Texas-Size Calamities
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Lawyer asks appeals court to rein in Enron case judge
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Insurers: J.P. Morgan disguised loans to Enron
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No assurance of Enron insurance payouts
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Enron officials met regulators 25 times
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Alcan says it's not liable for Enron's power deal
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What to Do When Your Client Gets "Enroned"
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Enron scandal's crucial recruit
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Pratt, 2 Others Challenge Deal With Enron Unit
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White House sued over Enron affair
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Enron Projects Used Government Loans
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Concerned, Boxer wants more on US FERC, Enron contacts

Lay says he sold Enron stock in plan to leave
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Three-Decade-Old Echoes, Awakened by Enron
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Going Under Oath
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33 states oppose Enron aiding executives
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Dominion customers get burned by Enron
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Lawsuits Would Spread Enron Blame
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Barclays may face Enron lawsuit
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Battered Enron relies on pipelines, plants
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Short selling spikes after Enron fiasco
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Meeting is set today for ex-Enron workers
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Crash Course on Enron
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Shady practices at Enron date to 1987, magazine says
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Enron execs often called FERC brass during crisis
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Professors in Enron-endowed posts get ribbed
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For sale: one rail-mounted hovercraft, buried among the relics in this temple to Mammon
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Centrica, NewPower in merger
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Energy Traders' Request for Third Creditors Panel in Enron Case Is Rebuffed
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Enron: The scandal that keeps on giving
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Enron Japan's creditors may be left empty-handed
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Enron's political love connection
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New York Expert Dissects Maze of Decisions Leading to Enron Fall
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Q&A: Lessons Learned from Enron
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Fed reviews JP Morgan's Enron dealings
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Enron spawns myth of failed market that's now reformed
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Enron failed to tell investors of other partnerships
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Enron: Villain or scapegoat?
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One Rule Of Plastic: Recovery Has a Dark Side
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A bankruptcy and student trips
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  U.S. wants new penalties for corporate negligence
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Pitt wants to disgorge compensation
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Kaiser's future is uncertain
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Suprema:

Suprema Specialties files for Chapter 11
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Suprema files for bankruptcy
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Mere twist of fate can lead to bankruptcy
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Economy:

Data hint economy well on the mend
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O’Neill: Economy is recovering
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Index Shows Business-Investment Slide, Contradicting Positive Economic News
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Law Firm Restructuring:

Highest-Billing Associate Gets the Boot
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Business Casual: Beginning of the End?
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Americans Outraged at Corporate Cheating
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Holders of shares rank last when a firm fails
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Telecoms:

Mpower to reorganize through Chapter 11
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Global's new plan may hold false hope
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Loan Fund Buyers Among Those Stung By Telecom Losses
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XO Communications Announces Plans to File for Chapter 11 Bankruptcy
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Global Crossing Creditors Review
Transactions for Assets to Claim
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Equal-opportunity crisis
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Company could face liquidation
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Global Crossing Hurt by Board's Cronyism
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Law firm for Global Crossing questioned
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Global Crossing rescuers say won't sweeten offer
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Alternative Global Plan Proposed
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Global Crossing pays staff to leave
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Others Endure Complications in Telephone Bankruptcy
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360Networks seeks new exclusivity extension
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A Pause, Then Big Growth for Telecom
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McLeodUSA creditors object to disclosure statement
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Debt, credit setbacks still dog Qwest
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Carrier 1 Intl Petitions Court For Bankruptcy
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N.Y. consultant proposes selling warrants to save Global Crossing
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Kmart:

At issue Retailing
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Kmart seeks to hire Ernst & Young as advisor
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Spike Lee makes ads for Kmart
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Kmart to Spend $40 Million to Reshape Image
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Kmart Goes for Broke
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Asbestos:

Tort Wars Get Personal
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Court extends stay on Halliburton asbestos claims
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Halliburton hunkers down to fend off asbestos litigation
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Airlines:

Flying high in fantasyland
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Last-ditch plan to save OA
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Power Utilities:

California to ask U.S. to cancel electricity deals
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California PG&E Bankruptcy Case's Tab: $1 Million A Week
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California's Public Utility Commission Sets Energy Repayment Plan
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J.P. Morgan Debt Default Insurance More Than Doubles
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Pennsylvania Medical Malpractice Insurer Declared Insolvent
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Some high-risk credit card users see dramatic interest-rate climb
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Jobs - Updated February 22, 2002
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Bankruptcy Court Web/Pacer Site Directory

Bankruptcy Reform:

Bankruptcy Reform Bill in Trouble Again
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Running in Reverse - Bankrupt Firms Struggle to Survive, Not Grow, in Chapter 11
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Corporate Woes Roil Real Estate
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Insurers may refuse cover for executives amid concerns
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Bankrupt Wheland planned to halt production for good on Monday
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Push for new laws puts business on defensive
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Steel:

LTV bidder touts plans
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How to help steel / Tie protection to future self-sufficiency

LTV's retired workers to lose their insurance next month
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Former LTV workers organize, prepare for bankruptcy hearing
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Excess capacity in steel industry -- Easy money the main culprit
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Steelmakers Blame Imports to Mask Woes
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Owens Corning seeks plan-filing exclusivity
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The risks of bankruptcy: Several Michigan companies enter costly process with uncertain outcome
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Bush Appears to Be Giving Support
To Shelters for Executive Pensions
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Bankruptcy a bad dream that needn't reappear
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CBA files for bankruptcy
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Online Payments Raising Host Of Unresolved Issues
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Accounting:

Andersen Partners Try to Leave Firm, Recruiter Says
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Enron negotiating with Andersen on settling claims
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Andersen focuses on ability to pay
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Partner in charge of Enron still with Andersen
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Federal Accounting Standards Board Relies on Large Firms for Research, Advice
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Chief Financial Officers Pushed to Defend Their Numbers in Post-Enron Era
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SEC Targets Bonuses in Audit Probe
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Labour threatens audit crackdown
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SEC Says Corporate Audit Panels Eyed in Agency Probes
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Allfirst scandal laid at feet of bank's auditors
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Hewitt orders probe into accountants' role
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Accounting Industry Riddled with Conflicts of Interest
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SEC chief vows quick action on disclosure rules
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Arthur Andersen Plaintiffs Face Challenge in Proving Liability
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Accounting Industry Procedures Examined Closely
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Canada's accounting standards scrutinized
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Japan:

Major Japanese Bank Plans to Sell Bad Loans to Government-Run Collection Agency
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Canada:

How CIBC keeps money from the taxman
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Top court awards record for damages
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Korea:

Individual Debts Snowball to Dangerous Level
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________________

Argentina:

Who will budge first in Argentine aid talks?
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Germany:

Kirch Hires a Restructuring Adviser As Firm Tries to Dodge Bankruptcy
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Italy:

Italy's largest bank to unveil $1bn provisions
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Australia:

Macrocom purchaser also lands in bankruptcy
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