July 30, 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

         
Upping the Ante - A proliferation of cases, shortage of lawyers are putting pressure on bankruptcy rates
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Budget:

Budget's tires go flat
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Budget Group Files Chapter 11
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Car renter, hurt by travel slump, files for bankruptcy
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Ryder: We're not bankrupt
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Ch. 11 filing covers Budget, Ryder
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Major fraud 'on the increase'
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Greensboro window manufacturer to liquidate
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Accounting:

As more accounting irregularities surface, so does the question of responsibility
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Accountants Want the Dull Life Back
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More failed firms crying `sue my accountant'
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FASB to Take Up Accounting For Stock Options
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Oaths vouching for company results trickle into SEC
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Corporate Reform:

America's chief suspects
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US set to step up corporate arrests
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Corporate Reform Bill Means Changes in Lawyer - Client Relations
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The arrogance of it all: A smug CEO at the helm can send a company crashing down
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Bush set to sign corporate reform bill
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Boards due for major overhauls - more oversight, fewer 'insiders'
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Laidlaw Settles Bondholder Litigation
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Attorney General's Plan for Nursing Home Ombudsman Gets Bankruptcy Court Approval
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Dairy Mart:

Couche-Tard wins Dairy Mart auction
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Couche-Tard's bid for Dairy Mart stands
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Kmart:

'Sales Are Not Showing Improvement'
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No Plea Bargains on Tap for Duo in Grant City, Mo., Cattle Case
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New types of check fraud mean big losses for banks
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Adelphia:

Rigas Attorney Offered Low-Key Surrender of Former Adelphia CEO, But Feds Ignored Request
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Despite Woes, Charter Communications Wants to Ring Up Adelphia
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Adelphia Leads Cable Into Uncharted Waters
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Pittsburgh: Bankruptcy court approves J&L restructuring
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Ratings Downgrade, Debt Decrease Hopes for Conseco Recovery
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  WorldCom:

WorldCom talks begin
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WorldCom gets creditor committee
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Unsecured-Creditors Committee Is Selected for WorldCom Filing - Struggle Within Committee Likely
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WorldCom Creditors' Committee Named by U.S. Trustee
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Verizon Among Creditors Vying for Spot on WorldCom Committee
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PR firm Worldcom has PR nightmare with telecom firm's woes
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The WorldCom cell-phone shuffle
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WorldCom Names Chief Restructuring Officer, CFO
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New WorldCom Execs Wade Into Biggest Mess Yet
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WorldCom deals `sharp blow' to family business
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WorldCom Hires Restructuring Specialists
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Whatcha gonna wear when . . . they come for your firm's books, bankruptcy looms and the feds get fidgety?
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WorldCom transfers wireless customers
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Nasdaq to Delist WorldCom Stock
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Enron:

Concerns Grow Amid Conflicts - Officials Seek to Limit Probe, Fallout of Deals
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2 Banks' Bosses Issue Denials
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Enron Execs' Wacky Art Binge
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Enron-related books, movies ready to emerge from pipeline
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Merrill Ties To Enron At Issue In Probe - Senate Panel to Look At Firms' Relationship
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Merrill Replaced Research Analyst Who Upset Enron
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Visionary's Dream Led to Risky Business - Opaque Deals, Accounting Sleight of Hand Built an Energy Giant and Ensured Its Demise
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Millions in Enron Art Awaits Sale
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US Gov't Probes Enron's Lagos Power Project
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Bankruptcy hurts the solvent
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Ziff Davis to file for Chapter 11 and restructure debt
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Law Firms:

Top Boston law firms show profit slump: Expansion, economy spell lower profits per partner
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Promotions to Partnership Follow Raid on NY Firm
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Law Firms Eye the Detective Business - Public scandals spur firms to more investigative roles
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Young and In Their Prime - 40 under 40
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Weighing the Pay Scale
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Steel:

Sand Springs, Okla., Steel Mill to Emerge from Bankruptcy
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Insurance company owner guilty of bankruptcy fraud
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Sunterra Corp Consummates Plan Of Reorganization
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New Bankruptcy Opinions
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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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Anaheim, Calif.-Based Company to Run Hair Salons Despite Bankruptcy Filing
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Bankruptcy Reform:

Passage Of Bankruptcy Bill Now Trickier For US Congress
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Bankruptcy Legislation May Be Stalled
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Bankruptcy Abuse Bill Will 'Punish the Poor,' Nader Says
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Senate to put bankruptcy legislation on back burner until Congress returns in September
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Telecoms:

KKR-backed telecom goes bust
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Birch Telecom files for bankruptcy
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End of the Telecom Turmoil?
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Genuity, banks agree to 2-week standstill
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Qwest Accounting Errors May Force It to File for Bankruptcy, Investors Say
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Qwest Looking More and More Like WorldCom
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Telecom Execs to Talk Before Senate
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Ex-Global Crossing Exec May Bid on Assets
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Telecom failures fraying some customer nerves
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KPN Buys The Dutch Fiber Assets Of KPNQwest
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Qwest Officials Made Millions in Stock Sales
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NTG insolvent last year
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Polaroid Sale Appears Ready to Close
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Energy:

Energy traders still shrouded by clouds of uncertainty
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Reprieve for Dynegy with $928m disposal
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Experts Predict Future Will Bring Big Changes to Energy-Trading Business
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Airlines:

Vanguard Airlines to seek Chapter 11 bankruptcy
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Beehive calling it quits
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England:

Railtrack accounting methods under scrutiny
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UK fraud laws 'need streamlining'
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London Clubs creditors bet on brighter future
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Bankrupt Owens Corning Sued for More Packaging Money
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Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C.  You can reach us at 281-242-6208 or at admin@bkinformation.com