July 8, 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:

Enron's Board Games - A new Senate report says the company's directors knew more than they're letting on
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The Report

Directors shut eyes at Enron, say senators
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Enron Directors at a Glance
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Enron Fees: $64 Million -- So Far - Firms' bills to court heading skyward
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Enron Board Shares Blame for Collapse, Report Says
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Enron movers tackle life in the meantime

Ex-Enron Worker Battling Cancer
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Enron directors ignored warnings, report finds
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Senators reject Enron excuses
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Enron fate may determine PGE future
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Scathing report of Enron proves need for tougher laws, Levin says
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Enron's Ghost Town
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FTI Consulting: A bankruptcy bonanza
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Adelphia:

Kent eyes Adelphia assets
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Telecoms:

Shame-free bankruptcy - Telecom companies pursue a 'drive-through Chapter 11' strategy in prearranged deals with their creditors
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Telecom Sector May Find Past Is Its Future
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`Telecom Cowboys' May Be Facing High Noon
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Qwest Denies Federal Probe
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KPNQwest trustee expects bid by Sunday
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Flag files plan to emerge from bankruptcy
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IDT Goes After Fallen Fruit
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U.S. Court Extends Exclusive Period For 360networks to Restructure
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Bankrupt Dot-com firm's billing infuriates customers
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Enron, WorldCom Shake Confidence, Cutting Loan Volume
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Airlines:

U.S. Airlines' 2nd-Qtr Losses Likely Reached $1.4 Bln
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US Airways may face new deadline
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Airport Wants Airlines to Make Security Deposits
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Dot-com bankruptcies down 73% from year ago
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The Ups & Downs Of Bankruptcy
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Law Firms:

Brobeck Cuts Rates to Fend Off Clifford Chance
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Today's Hot M&A Market: Bankruptcy
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Town of Edgewood, Wash., Faces Possible Bankruptcy
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Benchmark lands ACT's units
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Labelon Corp. files for bankruptcy protection
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Digital Entertainment, Distributor of Indian Films, Files Bankruptcy, Will Be Dissolved
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U.S. Apartment Vacancies Increased
(WSJ: separate paid subscription required)

Hung out to dry - Tech students look for answers amid school closure
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Sunbeam D&O Insurers Agree to Pay $25 Million
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  Phar-Mor's lists are key asset
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Accounting:

Big 4 concerned over more suits from troubled firms
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Restating, for the Record
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Daschle: SEC chief 'too cozy' with accountants
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Andersen Sued in WorldCom Fiasco, Will Testify Before House Panel
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Auditors' Methods Make Job Hard
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Accounting reform now up to Senate
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Called To Account - The days are numbered for self-regulation
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Three Reasons to Expect More Earnings Restatements
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KPMG to Buy Andersen Unit in Spain
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Companies that Avoid Superfund Cleanup Through Asset Protection Draw Senate's Ire
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Corporate Reform:

Lawmakers call for tough corporate regulations
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How options contributed to debacles
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Taking aim at corporate crime
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Pols: Jail Execu-thieves
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White-Collar Crime: Heat Going Up? - It's tough to prosecute CEOs -- for now
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Lawmakers to Probe Exec Wrongdoing
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Lawmakers See Crisis of Confidence in US Economy
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Repeating The Past
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Exec perks still ripe for picking - Despite recent unsteady economic times, company bosses get extravagant plums
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Is the Bad News Over? Not Yet, Says a Debt Watcher
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WorldCom:

Sidgmore to visit Congress
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Worries spread to WorldCom customers
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Former Executive of WorldCom May Be Able to Keep Mansion
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Judge Taps Monitor to Watch WorldCom
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State seeks to recover tax breaks it gave WorldCom
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WorldCom bondholders face battle for cash
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WorldCom touter to testify

Ebbers Tried to Cut WorldCom Audit Budget
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WorldCom bondholders set for bitter battle to recoup losses
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WorldCom whistleblower will not testify
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WorldCom bondholders may offer debt swap lifeline
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WorldCom Causes Analysts to Evaluate Ebitda's Role
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Players in WorldCom Debacle To Appear Before House Panel
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WorldCom rejects feds' request to end accounting probe
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A new wave of corporate frauds
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WorldCom sues former financial officer
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Worldcon: The Fall of a Telecom Titan
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All eyes focus on WorldCom International
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IDT to Press for Parts of WorldCom
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Leaders emerge in contest to buy WorldCom offices
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WorldCom suit seeks return of bonus

Internet Services Won't Go Dark, WorldCom CEO Says
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New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Jobs - 115 Jobs - Last Updated July 8, 2002
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Bankruptcy Court Web/Pacer Site Directory

Corporations setting record bankruptcies
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Merck Recorded $12.4 Billion In Revenue It Never Collected
(WSJ: separate paid subscription required)

Prime Retail Loan Extended
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Mortgage goes unpaid for 14 years
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Bankruptcy Stock Is Like Fool's Gold
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Steel:

Jilted Suppliers Question LTV Steel
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LTV's court battle: Who will survive, who will be shuttered
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Steelmaker Seeks to Put a Cap On a Mushrooming Problem
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Supplier asks if LTV ever intended to pay
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Republic Tech attracts bids
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A void after Polaroid
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Court TV To Air Program About Calumet Farm Bankruptcy
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When an Individual can be Responsible for the Corporationīs Environmental Responsibilities
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Wallace Wilkinson, Former Governor of Kentucky, Dies at 60
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Bankruptcy Reform:

Credit Firm Gave Moran Favorable Loan - As He Sought Deal, Lawmaker Backed Finance Industry Bill
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Loophole Lets Lobbyists Hide Clients' Identity
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Many bills killed in House-Senate conference committees
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The executive piggy bank - Borrowing from the company common
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The High Cost Of 'Jackpot Justice'
(WSJ: separate paid subscription required)

Indonesia:

Supreme Court overturns Manulife bankruptcy verdict
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England:

22,000 firms collapse in first six months
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Lloyd's to pursue names for legal costs
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Directors plunder final salary schemes
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Arrows kept from practice in battle with creditors
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Australia:

Bankruptcy figures show worrying trend
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More opting for debt agreements over bankruptcy
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France:

Vivendi will have to sell assets, top creditor bank says
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French bankers urge calm over Vivendi
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Canada:

General Publishing takes double hit
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General winding down distribution unit
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Canada Bankruptcies Down 3.5% In May From Yr Earlier
(WSJ: separate paid subscription required)

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Thailand:

More Flexibility for Debtors Proposed for Thailand Bankruptcy Code
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Germany:

Babcock Files for Bankruptcy; to Resume Rescue Talks
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