February 28, 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:

Judge puts off JP Morgan insurer suit ruling
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Bankers, insurers face off in court over who should cover Enron's losses
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Trying to Breathe Life Into a Corporate Corpse
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CalPERS Answers Critics Over Enron Ties
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Ken Lay's Nest Egg
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Bankruptcy Judge Denies Enron Access To $85 Million in Insurance Money
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Astros will pay Enron to strike its name from ballpark
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Ballpark's name change protects the innocent
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Four Candidates Submitted As Possible Enron NA Examiner
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No sign of shredders at Enron assets auction
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Liability insurance payments on hold to pay attorneys' fees
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Analysts in the hot seat
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Enron Judge To Rule On Separate Creditors Committee
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Prosecutors weighing aid for testimony of potential figures
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Texas Attorney General Faulted for Lack of Action on Enron Insurance Issue
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Enron employees campaign for pay
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Senate panel debates chairman, CEO roles
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Some top Enron traders turn down UBS jobs
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Senators, whistle-blower rain disbelief on Skilling
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Wall Street Analysts Tell Senate Enron Misled Them
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Enron turns into museum quality scandal

Judge approves Enron worker fund
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Severed Enron Employees Coalition Gains Seat On Class Action Steering Committee
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Court orders release of Cheney documents
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Government fund may have to pay Enron pension benefits
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U.S. Senator Calls for Appointing Special Counsel for Enron Probe
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Enron May Use IRS Amnesty Program to Seek Relief From Tax-Shelter Fines
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No link between derivatives, Enron woes
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Enron Europe Property Goes on Sale
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Shareholders sue Enron spinoff
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The Good Of Enron, Part II: Executive Pay
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Time to liquidate Ontario's Enron
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J.P. Morgan Refutes Fraud Claim In Suit Over Enron Bonds
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AFL-CIO to fight for ex-Enron workers' severance
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UBS fights way back
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Court approves $20M DIP for Museum Co.
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State Title account may lack $4 million
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For Well-Paid CEOs, No Passing the Buck
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FCNI director resigns, loans company $75K
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Creditors Seek Cash from Salt Lake City-Based Firm's Plastics Unit
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XL, Swiss Re Settle Credit Swap Dispute
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Absolute Bankruptcy Auction of Student Accounts Receivable Of Computer Learning Centers
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Wichita, Kan., Caterers File for Chapter 7 Bankruptcy
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Judge Approves Sale of Metal Parts Manufacturer's Assets
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Aladdin Gaming Seeks Buyers for Las Vegas Resort
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  DIP Dimensions: Global Industrial Technologies Inc.
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Power Utilities:

PUC Will Have Say in PG&E Reorganization
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PG&E Issues Statement After U.S. Bankruptcy Court PUC Plan Decision
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Pacific Gas & Electric to pay $333 mln of bonds
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Calif. energy regulators urged to cut PG&E's rates
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PG&E Issues Statement After Publicity Stunt by Assemblyman Fred Keeley
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Letter from Delaware: Campbell's in soup over pickle spinoff
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Bankrupt Simon to get cash infusion
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Telecoms:

Global Crossing Says It Broke No Rules With 401(K) Accounts
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Former VP sues Global execs - Olofson says company fired him for questioning accounting practices
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Asia Global Crossing Says It Needs a Cash Injection
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Global Crossing puts other swaps under scrutiny
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The Singapore connection
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Victims of Global Crossing Include Real-Estate Deals
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Contract Offers Look at How Global Played Influence Game
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Global Crossing: 2 Different Worlds
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ICG amends disclosure statement
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Moody's cuts Williams credit outlook to negative
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Global Crossing ‘may not survive bankruptcy’

Court confirms Rhythms NetConnections' liquidation
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Cogent to snap up PSI assets
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Chubb Requests Collateral From Certain Surety Bond Principals
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Economy:

Greenspan sees signs of rebound in economy
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The economy is the economy again, the recovery is nigh, and even Enron has a silver lining
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Consumer confidence falls for first time in 3 months

Moody's sees light at end of default tunnel
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As Optimism About the Economy Grows, CEOs Remain Skeptical
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We Are in Danger of Losing Our Way
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Accounting:

Andersen Offers Enron Settlement
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FASB Change May Add $100 Billion Debt to Books
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FASB Speeds Up Rules Revisions
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Two Named to Anderson Probe Board
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Stronger Oversight of Accounting Firms Seen Needed to Prevent More Enrons
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Auditors, non-execs face probe
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Greenspan urges accounting reform
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Inquiry to cast eye on auditors
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Enron-inspired accounting rules seen this summer
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SEC fills accounting vacancy
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Reliant suspends two execs after accounting glitch
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Gap Debt Mounts As Sales Slump
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New Bankruptcy Opinions
(No new opinions today)

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

Tyco's Bankers Dreamed Up Bonds That Now Seem Like Nightmares
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Law Firm Restructuring:

What Lawyers Earn
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Law Firm Explores Reorganization Options
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Pepper Hamilton Builds Ties With Accounting Giant KPMG
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Clifford Chance Mulls Axing Entire IT Department
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Holland & Knight Partners Cut Own Pay, Spare Associates
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Lawmakers hint at investment-research split
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Judge endorses Burlington's bonus payments
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Steel:

LTV Steel assets sold - Investment firm to reopen mills
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Bankrupt LTV on Way to Revival With New Owner
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Ross Bid Good For LTV, Not So Good For Steel Industry
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Would-be buyer tours Beth Steel
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______________________

Bankruptcy Reform:

Congressional Negotiators Drop Measure in Bankruptcy Bill Tied to Enron
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Congress Drops Bankruptcy Provision
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Bankruptcy bill, House Republicans offer Senate Democrats latest proposal
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Republicans Give Bankruptcy Bill a Push
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__________________

Airlines:

National puts last touches on reorganization plan
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Tesna abandons Ansett
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___________________

MarchFirst:

MarchFirst's former top executives and directors can't put the company's collapse behind them
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Suit hits MarchFirst leaders
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Defunct Chicago-Area Internet Consultant Could Face Further Legal Actions
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______________________

Bankrupt Florida Golf, Tennis Resort Could Be Sold
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Bankrupt Polaroid recorded $36 mln loss on asset sale
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Hi-Rise:

Hi-Rise goes flat
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Hi-Rise Recycling Systems - Pre Negotiated Chapter 11 Filing and Letter of Intent to Sell
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_______________________

Japan:

Banks caught in bad-loan trap
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Japan draws economic battle lines
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BOJ likely to further ease credit
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______________________

Canada:

Wide discretion
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Canadian judge finds fraud in Dylex case
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Dylex coffers drained, court told
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Enron fizzle
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____________________

Germany:

Kirch calls in cavalry for rescue try
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