July 24, 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

         
WorldCom:

Creditors focus on WorldCom structure
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WorldCom's next problem
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WorldCom to Choose Turnaround Expert
(NYT: separate free registration required)

WorldCom, Tyco Sued Over 401(k) Losses
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Bankruptcy Lawyers Rev Up for WorldCom
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Salomon Faces Added Pressure As Lawmaker Seeks IPO Records From WorldCom and Andersen
(WSJ: separate paid subscription required)

AT&T ads target WorldCom woes
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WorldCom's collateral damage
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WorldCom Problems Signaled Distress to Layton, Utah-Based Telemarketer
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Among WorldCom Puzzles, Future of UUNet Service
(NYT: separate free registration required)

Some Laid Off WorldCom Workers to Receive Severance Checks
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WorldCom to Hire Restructuring Guru
(WSJ: separate paid subscription required)

Labor Dept. probing WorldCom pensions
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Professor Is Tapped for WorldCom Board of Directors
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WorldCom Bankruptcy Jeopardizes Future of Web-Based Educational Program
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Shareholders Get in Line at WorldCom
(WSJ: separate paid subscription required)

SunTrust Bears No Risk for Any Potential Losses over WorldCom, Bank Says
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Energy:

PG&E creditors prep rival plan
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Stock Price for Houston-Based Dynergy Hits Record Low
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Dynegy Shares Plummet 64% Amid Growing Liquidity Woes
(WSJ: separate paid subscription required)

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Kmart:

Panel Studying ImClone Trades Asks Merrill Office for Records
(WSJ: separate paid subscription required)

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Harris County, Texas, Tax Official Seizes Bankrupt Manufacturer's Inventory
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Citigroup:

Sinking Feeling Is Now Settling Over Citigroup
(NYT: separate free registration required)

Sandy's Bad Year
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  Secureds to take APW
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Accounting:

Few rush to obey SEC rule
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TIAA-CREF Wants Options To Be Considered Expenses
(WSJ: separate paid subscription required)

Congress Works on Compromise Bill
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Congress Nears Accounting Overhaul
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Fire stopper
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Enron:

Banks' conduct enabled Enron
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RBC, TD tied to Enron financing deals
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Citigroup and Chase Defend Their Enron Roles
(NYT: separate free registration required)

Sealed Bids Likely Route to Sell Enron Tower in Houston
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Energy Deals Made $200 Million In Fees for Citigroup, J.P. Morgan
(WSJ: separate paid subscription required)

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Corporate Reform:

Reform Redux: What Could Bring A 1930s-Style Regulatory Overhaul?
(WSJ: separate paid subscription required)

Unions Enter Business Scandal Frenzy
(NYT: separate free registration required)

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Naming new officials, Railworks takes step in post-bankruptcy reorganization
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Democrats wallowed in mud they're now slinging
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FleetBoston stock drops below $20
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Steel:

Sanctions strengthen US steelmakers
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Adelphia:

Rigases Officially Resign From Adelphia
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Former Adelphia Execs Arrested for Fraud
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Adelphia CEO says to pay past-due fees to L.A.
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Airlines:

Airlines' Steep Fare Cuts May Come Back to Haunt Them
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Bank of China Awarded $132M in RICO Case
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New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Jobs - 90 Jobs - Last Updated July 22, 2002
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Polaroid:

Battle for Polaroid appears over
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Remaining Polaroid Executives May Receive Extra Cash Bonuses, Stock Awards
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Telecoms:

Lucent's loss widens; more layoffs on way
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Williams Communications receives bid from Level 3
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Level 3 Makes Bold $1.1 Billion Bid To Buy Williams Communications
(WSJ: separate paid subscription required)

Telecom Second-Quarter Results, Job Cuts Offer More Gloom for Investors
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The successful failure
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Cingular in Move on WorldCom
(NYT: separate free registration required)

SBC Communications Losing Local Market Share, Planning to Cut 3,000 Workers
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Telecom firms sink even lower
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AT&T Wireless Profits Fall 89 Percent
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Colo.-Based Telecommunications Parts Maker Continues Struggle
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__________________

Economy:

To Hold and No Longer Have: Stocks' Decline Roils Marriages
(WSJ: separate paid subscription required)

Ford CEO fears economy may worsen
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Stockholders last during bankruptcy
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Law Firms:

Weak job market? There's always law school
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_________________

GeneCom files for bankruptcy
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New York AG Faces Hurdle Over Merrill Lynch Deal
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Japan:

New law makes declaring personal bankruptcy easier
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