June 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

         
Boies rides to the rescue - Superlawyer David Boies fights for corporations in peril, like Tyco and Adelphia
(DBN Subscription Required)

Amtrak:

Amtrak Warns it Will Shut Down Within Days Without $200 Million
(DBN Subscription Required)

U.S. Rail Network Facing Shutdown as Bankruptcy Looms
(DBN Subscription Required)

Administration says it'll weigh aid to Amtrak
(DBN Subscription Required)

Loss of Amtrak called 'disastrous' for NJ Transit

Mineta to Push Amtrak to Stay Open
(DBN Subscription Required)

___________________

Adelphia:

Adelphia off to Chapter 11
(DBN Subscription Required)

Citigroup,JP Morgan Arrange Adelphia Financing
(WSJ: separate paid subscription required)

Adelphia due to seek protection Monday
(DBN Subscription Required)

Adelphia bankruptcy would force new pacts
(DBN Subscription Required)

Weighed Down by Its Troubles, Adelphia Nears Bankruptcy
(NYT: separate free registration required)

Credit facility could end Adelphia restructuring
(DBN Subscription Required)

No winking at bad practices in tough times

More Cracks In Ice
(DBN Subscription Required)

Adelphia Likely to File Chapter 11
(DBN Subscription Required)

Locals Gird for Adelphia Bankruptcy
(DBN Subscription Required)

___________________

Complaints rise about background checks
(DBN Subscription Required)

Telecoms:

Global Crossing readies investor consortium
(DBN Subscription Required)

Global Crossing denies allegation of shredding
(DBN Subscription Required)

Global Is Said to Admit Files Were Shredded
(NYT: separate free registration required)

Telecom slump hinders Avaya
(DBN Subscription Required)

Is Qwest hiding another deal?
(DBN Subscription Required)

Banks to demand formal probe of KPNQwest
(DBN Subscription Required)

Court opens Baby Bells to lawsuits - Consumers can sue local providers for antitrust violations
(DBN Subscription Required)

Paper shredding incident alleged
(DBN Subscription Required)

Nextel Subsidiary Cleared to Pay Retention Bonuses
(DBN Subscription Required)

Global Crossing, Shareholder Reach Deal That Ends Probe
(WSJ: separate paid subscription required)

More cash burdens for France Telecom
(DBN Subscription Required)

Belgacom denies wants to buy KPNQwest assets
(DBN Subscription Required)

___________________

Officials to go after bankrupt Vlasic for rest of back taxes
(DBN Subscription Required)

Law Firms:

Law Firm Merger Business Is Booming
(DBN Subscription Required)

Bryan Cave, N.Y. firm Robinson Silverman to merge
(DBN Subscription Required)

Brobeck Loses Again, But Not to Clifford Chance
(DBN Subscription Required)

Other Firms Raiding Brobeck
(DBN Subscription Required)

D.C. market loses law firm cushion: Effects of downturn reach deep as law firms shift their real estate standards
(DBN Subscription Required)

Clifford Chance, You’ve Gone Too Far!
(DBN Subscription Required)

Where's Daddy? Male Lawyers Not Taking Leave to Be With Kids
(DBN Subscription Required)

Summer associate hiring shrinks
(DBN Subscription Required) 

_______________________

No laughing matter: Improv files Ch. 11
(DBN Subscription Required)

Airlines:

US Airways, pilots say talks productive as Friday deadline looms

___________________

Big Apple faces crunch time on finances
(DBN Subscription Required)

Electricity:

E-mail raises questions about L.A. utility’s energy trades
(DBN Subscription Required)

Dynegydirect Suspension Not Seen Auguring Bankruptcy
(WSJ: separate paid subscription required)

____________________

Electricity:

Senator: Perot Co. Exploited Loopholes
(DBN Subscription Required)

______________________

Asbestos:

5th Circuit Orders Asbestos Cases Removed From Judge's Docket
(DBN Subscription Required)

U.S. Joins Lawsuits Against W.R. Grace
(DBN Subscription Required)

St. Paul downplays asbestos impact
(DBN Subscription Required)

Kent in His Own Words
(DBN Subscription Required)

_____________________

Woodtech files for bankruptcy - Future may depend on cooperation of overseas creditors
(DBN Subscription Required)

  Enron:

Former Officials Say Enron Hid Gains During Crisis in California
(DBN Subscription Required)

Justice Dept. Investigates Whether Enron Violated Securities Laws During California Energy Crisis
(DBN Subscription Required)

Insurers' Filing Says J.P. Morgan Burnished Enron Financial Status
(WSJ: separate paid subscription required)

Treat Enron employees fairly
(DBN Subscription Required)

Ex-Enron executive denies improper use of reserves
(DBN Subscription Required)

Prosecutors to chase Enronis efraudstersi
(DBN Subscription Required)

Enron Ferrets Out Others' Sham Gas Trades
(DBN Subscription Required)

Enron's Ex-CFO Seeks Civil Immunity
(DBN Subscription Required)

S.F. Giants left on base as court catches Enron
(DBN Subscription Required)

Fastow seeks to avoid testifying in civil suits
(DBN Subscription Required)

__________________

A New Twist in Tax Avoidance: Firms Send Best Ideas Abroad
(WSJ: separate paid subscription required)

Bad Boys Club - After a wave of scandals, corporate America is under pressure to clean up its act. But will anything really change?
(DBN Subscription Required)

Kmart:

Brash Kmart exec accepts no blame
(DBN Subscription Required)

Former Kmart president defends strategy with retailer
(DBN Subscription Required)

Creditors vocal about Kmart actions
(DBN Subscription Required)

Schwartz attacked Kmart stores, assaulted rival Wal-Mart
(DBN Subscription Required)

Retail wunderkind involved in several bankruptcies, lawsuits
(DBN Subscription Required)

Kmart to End Former Exec Benefits
(DBN Subscription Required)

Kmart Creditors Object to Law Firm
(DBN Subscription Required)

_________________

Former chief of National D-Day Memorial Foundation charged with fraud
(DBN Subscription Required)

U.S. probing Polaroid on its employee plans
(DBN Subscription Required)

Rite Aid:

Rite Aid executive, former chiefs indicted
(DBN Subscription Required)

Portrait of deceit at Rite Aid
(DBN Subscription Required)

___________________

American Classic has clearer sail
(DBN Subscription Required)

Farmland:

Fallout from Farmland - Farmers will feel Farmland Industries' bankruptcy deeply. They own the bulk of Farmland's bonds, and farmers' local co-ops are its main shareholders.
(DBN Subscription Required)

Farmland denied access to entire DIP
(DBN Subscription Required)

______________________

Economy:

Wall Street’s woes threaten economy
(DBN Subscription Required)

Wall St concludes fifth straight losing week
(DBN Subscription Required)

High-tech slowdown may be worsening
(DBN Subscription Required)

Not Buying the U.S. Earnings Story
(DBN Subscription Required)

______________________

Shareholders See More Benefit If Liquid Audio Bites the Dust
(WSJ: separate paid subscription required)

Sweet severance - Area executives get big benefits when they retire, quit or get fired
(DBN Subscription Required)

O'Neill Calls U.S. Corporate Scandals an `Outrage'
(DBN Subscription Required)

Executive Pay:

Executive culture hooked on options - Stock options carry benefits for the executive, of course, and the company, but how about the investor?
(DBN Subscription Required)

The road to riches - Revelations of corporate pay have become such a rite of spring that readers could be forgiven for assuming it was always thus. In fact, it's a relatively recent development
(DBN Subscription Required)

Nice work if you can get it
(DBN Subscription Required)

__________________

What Every Landlord Should Know About Bankruptcy
(DBN Subscription Required)

Martha:

Martha's Mess
(DBN Subscription Required)

Martha's Impossible Lie?
(DBN Subscription Required)

Martha Stewart's broker at Merrill put on leave
(DBN Subscription Required)

These are less-than-perfect times for Martha Stewart
(DBN Subscription Required)

_____________________

Distribution of bankruptcy settlement causes dispute - Two trusts fight for $8 million
(DBN Subscription Required)

The Boss Takes A Pay Cut As company profits sink, executives' bonuses and stock-option values take a hit
(DBN Subscription Required)

Sanrise claims bankruptcy; raised $130 million last year
(DBN Subscription Required)

 

New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Jobs - 132 Jobs- Last Updated June 24, 2002
(DBN Subscription Required)

Bankruptcy Court Web/Pacer Site Directory

Retiring boomers face meager golden years
(DBN Subscription Required)

DIP newcomer aids ABIZ
(DBN Subscription Required)

Insiders sell as failure looms - Many key shareholders unload stock in year before bankruptcy
(DBN Subscription Required)

Friends, family honor retiring bankruptcy judge in Plano
(DBN Subscription Required)

Steel:

No Breakthroughs in Steel Dispute
(DBN Subscription Required)

_____________________

Accounting:

Andersen Defense Wins Battles, Loses War
(DBN Subscription Required)

Ernst & Young Aims to Block Subpoena of Former Executive in Cendant Suit
(WSJ: separate paid subscription required)

Andersen: `They lost everything'
(DBN Subscription Required)

Axe falls at E&Y again
(DBN Subscription Required)

Final 4 Reap Windfall After Andersen
(DBN Subscription Required)

Andersen admits to Wickes failure
(DBN Subscription Required)

SEC says era of self-regulation over
(DBN Subscription Required)

Grant Thornton’s ‘middle market strategy’
(DBN Subscription Required)

Andersen Jurors Allege Complaints About Sleeping Panel Members Never Reached Judge, Texas Lawyer Reports
(DBN Subscription Required)

Audit overhaul / Senate's tougher tack bests SEC's
(DBN Subscription Required)

Public companies blur accounting borders
(DBN Subscription Required)

__________________

Rules to Standard's auction approved
(DBN Subscription Required)

Tonga not laughing over financial scandal - Poorer by $25 million, the tiny island kingdom is suing its American cash adviser, the king's jest
(DBN Subscription Required)

Metals USA Announces Agreement With Creditors on Plan of Reorganization
(DBN Subscription Required)

Young Adults Face Money Woes
(DBN Subscription Required)

A Corporate Crisis? No, Just Business As Usual
(DBN Subscription Required)

Startec Files Plan of Reorganization
(DBN Subscription Required)

Four ideas for reforming corporate governance
(DBN Subscription Required)

Prandium eyes July exit
(DBN Subscription Required)

Bankrupt builder must pay 16 clients - The president of Lighthouse Building Co. agrees to make payments to a handful of victims to avoid trial
(DBN Subscription Required)

DCT Bankruptcy Case Could Include Real Estate Firms
(DBN Subscription Required)

Banking policies pinching some small businesses
(DBN Subscription Required)

The Politics of Greed - As the business world churns, the Democrats ponder how to make Wall Street’s moral chaos pay at the polls
(DBN Subscription Required)

Japan:

Daishowa Paper Unit Declared Bankrupt
(DBN Subscription Required)

Companies drink their way to rehabilitation
(DBN Subscription Required)

Banks' Bad Debt Disposals Likely To Be Delayed
(WSJ: separate paid subscription required)

_____________________

England:

Lloyd's wary of asbestos threat
(DBN Subscription Required)

Law Lords' ruling on asbestos 'could cost firms £8bn'
(DBN Subscription Required)

NTL bondholders line up CEO replacement
(DBN Subscription Required)

__________________

Indonesia:

Doubts arise about independence of Manulife's court-appointed receiver
(DBN Subscription Required)

Indonesia shuts down Manulife
(DBN Subscription Required)

Manulife Complies With Order To Close Down Indonesian Unit
(WSJ: separate paid subscription required)

IMF Says Indonesia Legal Improvements Needed to Lure Investment
(DBN Subscription Required)

________________

Canada:

Companies will struggle for new credit as lenders tighten up
(DBN Subscription Required)

Publishers to get federal funds earlier than usual
(DBN Subscription Required)

Repap ruling on severance/fiduciary duty seen as weapon for shareholders
(DBN Subscription Required)

Manulife's woes continue
(DBN Subscription Required)

__________________

Russia:

Duma Votes to Change 1998 Law on Bankruptcy
(DBN Subscription Required)

_______________________



Please note that the Daily Bankruptcy News is primarily a news link gathering service. This means that most of the headlines contained in the publication are a collection of links to stories posted on the Internet by various third party publications.  Such content is owned by third party sources, not the Daily Bankruptcy News, and in some cases, these links change or expire, which means you may not be able to view some news stories in prior editions of the Daily Bankruptcy News.

If you received the Daily Bankruptcy News via email, to view a news story, click on the headline, and the story should open in your web browser. To view additional stories, click back to the email and click on additional headlines, which will cause new stories to open in your web browser.  You can view the Daily Bankruptcy News on the web by clicking here, or by going to BKINFORMATION.COM and clicking on the Bankruptcy News button.  Note that the Daily Bankruptcy News is distributed via "HTML email" in which the links to the news stories are embedded in the headlines.  The email you receive should look like a 3-column newspaper, with headlines for each story. If you receive the Daily Bankruptcy News by email and the copy you receive is not formatted like a 3-column newspaper, or does not seem to contain links to the news stories, you may have an email client that is not capable of receiving HTML email, or is not configured to display such email.  You can however, receive a daily email notifying you when the Daily Bankruptcy News is updated on the web site. If you would like to receive such an email, please let us know at admin@bkinformation.com  

Advertising
Advertising is available in the Daily Bankruptcy News in a variety of places, formats and prices. Go to http://bkinformation.com/DBN_ADs.htm  for a list of choices.  Feel free to contact us with any questions.

Passwords
Access to certain links in the Daily Bankruptcy News is available only to readers holding a paid subscription.  These links are currently marked with a "DBN Subscription Required" notation. The cost of a subscription is $3
9/year, payable annually.  Volume discounts are available for sites with multiple users.  Complimentary subscriptions are available for full-time  educational and governmental employees. For information about discounts or educational/governmental subscriptions, contact us at admin@bkinformation.com. A separate password is required for each member of a firm wishing access to restricted links. New readers can receive a free password good for 30 days by going to http://bkinformation.com/RegistrationForm.cfm. Readers who wish to change their passwords should go to http://bkinformation.com/ChangePasswordForm.cfm. Readers who have forgotten their password should go to http://bkinformation.com/GetPassword.cfm

Adding Your Email Address To The Distribution List
If you would like to start receiving the Daily Bankruptcy News by email each day, go to http://bkinformation.com/SubscribeDBNForm.cfm  and fill in the information requested.  There is no charge to be placed on the distribution list to receive the headlines, although access to many of the links behind the headlines requires a paid subscription (see above, under Passwords). If, after adding your email address to the distribution list, you do not receive an email confirming the addition, please contact us at admin@bkinformation.com for help.  

Removing Your Email Address From The Distribution List
If you already receive Daily Bankruptcy News by email and you wish to remove your email address from the distribution list, click here and send the email that should appear.  Note that the email must be sent from the same email address at which you are receiving the Daily Bankruptcy News. You do not need to type anything in the body of the email message.   If you do not receive an email confirming deletion of your email address from the distribution list  for the publication, contact us at admin@bkinformation.com for help.

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