June 19, 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

         
Airlines:

Loan still alive for US Airways
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The Age of 'Wal-Mart' Airlines Crunches the Biggest Carriers
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United to cut $430 million in pay 

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Lawyer saluted for bankruptcy work
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A World Of Cheats
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Waste Systems plan back on track
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Officials say woman sent threatening letters with white powder to bankruptcy judge and attorney
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Enron:

Laid-off workers lash out at Lay
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Enron, By The Numbers
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Enron Bankruptcy Fees for Lawyers Are $67 Million and Counting
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Andersen trial shows whatís in store for Enron
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How Enron Blew $4Bln in Just 90 Days
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Enron tax liabilities now focus
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Creditors Object To Provell's Proposed Retention Plan
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NII Holdings Wins Court OK To Pay Retention Bonuses
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Electricity:

City, state can sue PG&E Corp.
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Lawmaker calls for power trading disclosure
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Safety-Kleen:

Clean Harbors has clear sailing
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Court Approves Sale of Safety-Kleen's Chemical Services Division to Clean Harbors, Inc.
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Tyco Dispute Grows More Bitter
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Creditors letting markets decide pace of Aladdin sale
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Major Bondholder to Restructure Debt of Salt Lake City-Based Chemical Company
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O'Neill - No Need For Reform
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'Click here to be debt-free' - What you should know before signing up with a credit counseling agency.
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Response Oncology's Liquidating Plan Confirmed, 2001 Form 10-K Filed
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Aquasearch:

Chardin to invest in Aquasearch
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Bankruptcy Court OKs Aquasearch Reorganization Plan
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Judge OKs Aquasearch reorganization plan
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  FDIC Warns of Banks' Exposure to Subprime Lending Risks
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Master Class In Plunder
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Court approves SNTL restructuring
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Steel:

Republic sells Georgia plant - Auction reaps $7 million as Fairlawn company awaits ruling
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Nucor to buy Qualitech Steel
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Economy:

Housing starts soared in May - U.S. consumer prices steady
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GE chief sees economy recovering
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After the gold rush: The state of America's bosses

Kmart:

Judge lets Kmart auction proceed
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Kmart changes name, intent of Bluelight.com
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Telecoms:

XO gets OK on first day
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XO, Waiting to Be Rescued
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KPNQwest network under renewed threat, lacks funds
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Banks, feds on hook for $138M with XO bankruptcy filing
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What mission for Qwest CEO?
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Novo Networks Sues Qwest, Alleging Deal Required $15 Million Purchase
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Louisiana company to purchase e.spire assets
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Versatel seeks court protection
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Adelphia:

Adelphia misses interest payments; bankruptcy pressure grows
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PwC takes on troubled Adelphia - Firm replaces D&T as auditor to delisted cable group
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NHL expected to take over Sabres
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Financials Firms Fight SpectraSite's Bond, Debt Plan
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AES Changes Leadership Under Weight of Heavy Debt
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Pinnacle break-up fee approved
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College Fails to Make Grade, Files for Bankruptcy in San Diego
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Jobs - 149 Jobs - Last Updated June 18, 2002
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Bankruptcy Court Web/Pacer Site Directory

Accounting:

Arthur Andersen: RIP
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Senate panel backs audit reform bill
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States hone accounting rules
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SEC to unveil regulatory proposals for US profession - Toughest standards Ďever imposedí, warns SEC chairman
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Momentum for reform swells
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KPMG to publish detailed annual accounts
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PwC boss condemns US GAAP - DiPiazza calls for principles-based global standards
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Financial watchdog became enabler - Enron was just Andersenís most dramatic accounting disaster
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Software accounting under fire - Will regulatorsí actions curb aggressive bookkeeping?
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Grant Thornton Hires Andersen Staff
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Senate Panel Approves Bill To Boost Accounting Oversight
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SEC may restrict auditor consulting
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Germany:

Bombardier takes a pass on investing in German jet company
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Germany's Teetering Banks - Bankruptcies and near-bankruptcies sparked by bad loans, overcapacity, and a sagging economy are roiling the sector
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Indonesia:

Manulife reveals extortion bid in Indonesia
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Indonesia declines to intervene in bankruptcy dispute with Canadian insurance company
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Manulife files appeal against bankruptcy ruling
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England:

Regulator warns of alarm bells in insurance sector
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End to Railtrack administration in sight
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Football facing financial crisis, warn insolvency experts
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Government saves bankrupts' homes
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France:

Swan May Fail After Accounting Change Widens Loss, Analysts Say
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Canada:

Manitoba film giant falls into bankruptcy
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