February 27, 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:

Ex-treasurer seeks deal with federal prosecutors for testimony
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Two Key Figures in Enron Debacle Offer Cooperation for Immunity
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Fired treasurer 'seduced' by Enron, ex-colleague suggests
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At Enron, Lavish Excess Often Came Before Success
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Enron Creditors Committee Objects To Insurance Advances
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CalPERS answers critics over Enron links
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Enron Energy agrees to sell contracts
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Next Stop on the Enron Express: Wall Street
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Enron plot takes twist - Critics rate the rating agencies after company's collapse
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Skilling defiant in Senate panel grilling
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Enron's Skilling, doubted by senators and contradicted by colleagues, defends himself combatively before Senate committee
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Former CEO denies lying to Congress
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Watkins blames Lay for Enron's failure
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Lifestyles of the rich and infamous - Enron's elite indulged in cars, homes, art, trips
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Insurers balk at payouts for Enron collapse
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Enron probe launched in UK
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Congressional Enron Probe Focuses on Financial Advisers, Analysts
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Enron-Backed Fund Worried Investors
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Houston grand jury probes whether Enron cheated on taxes

Enron Hid Big Loans, Data Indicate
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Paper Says Enron May Owe More in Pensions
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Nine Florida legislators investigating Enron received money from company
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CSFB, Salomon Smith Barney Topped Ranks of Enron Underwriters
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Will Enron Fallout Fall Short?
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Enron debacle will have lasting impact, analyst says

EOTT Energy Announces Term Extension of Credit Facility
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Florida May Pull Out of Class-Action Lawsuit against Enron
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Fund Managers Criticized Over Enron
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Enron General Counsel Derrick Leaving Post; Walls to Take Over
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Bidders prepare for Enron London contents auction

Creditors try to cut off use of funds
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Enron makes amnesia easy
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Astros go to court today over naming-rights deal
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Enron asks bankruptcy judge for more time on Enron Field name
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Ex-CEO Skilling says he volunteered to return to Enron

Enron whistleblower frustrated by Lay's lack of action

Enron ethics manual to be enshrined at Smithsonian
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Enron Faces Fight over Use of Liability Insurance Policies to Pay Legal Fees
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Dickinson Theatres of Kansas Bounces Back from Chapter 11 Bankruptcy Filing
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Shareholders Likely to Get Little from Oakwood, Ohio, Bank
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  Bankruptcy Reform:

House GOP offers bankruptcy compromise
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House GOP Suggest Bankruptcy Compromise
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U.S. lawmakers revive bankruptcy reform effort
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Bankruptcy Lawyer Is in a Class by Himself- Chaim Fortgang Defended Creditors, But Offended Many of His Colleagues
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Kasper's DIP, licensing pact gets OK
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Norex files US$1.5B suit for unit lost in "sham bankruptcy"
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Morgan Stanley sues Saban over Fox Family
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Tightening of Credit Availability
May Suppress Capital Spending
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Telecoms:

Focal added to telecom death watch
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Global Crossing, Asian Unit See Major Losses
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Value of Global Crossing placed at a fraction of its claimed assets
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Several Strands Seem to Twist Around Global and Investors
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14 Global Crossing Insiders Sold Stock - $482 Million in Shares Unloaded in 2 Years
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Broadband Bill Amendments Narrowed To Avoid Widespread ISP Bankruptcies
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Bankrupt Network Plus Purchased by New York Firm
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Bankruptcy Court approves assets transfer from Teligent to NextWave
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Ripple Effect from Layoffs at Williams Communications Feared
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Williams Cos. may be held liable for debts if spinoff firm files for bankruptcy
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Can Williams, Level 3 survive telecom meltdown?
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A dead end for Global Crossing?
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Accounting:

SEC To Discuss Settlement Amount With Lawyers Suing Andersen
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Making Accounting Add Up
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Senators Consider Accounting Standards
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Andersen offers $150 mln to end Arizona suit
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Accountant Calls for New Standards
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Court Documents Show Andersen's Ties With Enron Were Growing in Early '90s
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Britain to look at accountants after Enron saga
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Bankruptcy Court Filing Questions Officials at Chicago Internet Consultancy, MarchFirst
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Bondholders beware: Default recovery at record low
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Fresno, Calif.-Based Insurance Company Files for Bankruptcy
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Supreme Specialties:

Suprema skids to rock bottom
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Supreme Specialties Loses Round In Bankruptcy Court
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Economy:

Consumer Confidence Index dips in February
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U.S. lawmakers seen pressing Greenspan on recession’s end
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Experts Say Recession May be Over
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New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Jobs - Updated February 27, 2002
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Bankruptcy Court Web/Pacer Site Directory

Simon Trans.

Bankrupt Simon asks to use cash collateral
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Simon Transportation Receives Approval of 'First Day Orders'
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Risky loans 'a bit of a black box' for banks
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The Perfect Storm: Lawsuit Against Irvine, Calif., Lender Comes Close to Settlement
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More Fraud Charges Leveled against Bankrupt Former Kentucky Governor
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Credit derivatives: A scandal waiting to happen?
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Kmart:

Kmart says it may not close 500 stores
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If this is your first time buying stock, this is a bad stock to start with
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Can Mickey Mouse & Co. lead Kmart out of woods?
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Kmart Investors Bail Out; Vanguard among Funds Quick to Ditch Shares
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Kmart: Store-Closings Estimate 'Too High'
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Steel:

LTV judge squelches friends' politicking
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LTV seen backing WL Ross bid for steel assets
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Auction of plants gets sticky at LTV
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U.S. Agency Decides to Extend Aid to Former Laclede Steel Co. Workers
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American steel imports up in January
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Flatten the Corporate Tax Code
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Wash Depot Seeks Another Extension To File Chapter 11 Plan
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Judge postpones payment plan in Camellia Food bankruptcy
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Minnesota Brewing Reaches Agreement Concerning Reorganization Plan
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Bankrupt Council Travel Says Tickets Honored
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Aladdin attorneys propose selling Las Vegas Strip resort
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Some CEOs thrive as firms falter - Top execs paid well while workers, shareholders suffer
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Power Utilities:

Petition seeks lower PG&E rates
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Davis Follows Great Circle Route on Long-Term Power Contracts
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Haywire power contracts
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Chiquita Announces Record Date for Distribution of New Securities
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GalaGen files for Chapter 7 bankruptcy
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Airlines:

Approval for National Airlines reorganization plan postponed
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Japan:

Banks boost Daiei rescue infusion
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Let's sell public assets to raise more capital
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Rocky road ahead for Asahi-Daiwa bank merger
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Light at end of tunnel -- but how far off?
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