June 4, 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

         
Telecoms:

IMG Implicated in Global Sales Inflation
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AT&T tipped again as KPNQwest savior

Telecom-Network Builder Velocita Files for Protection from Creditors
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Judge to OK e.Spire sale
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Metromedia Fiber likely to unravel
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Paging Firm Metrocall Files for Bankruptcy Protection
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360networks defers issuing financial results - Company continues to develop reorganization plan
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StarBand gets DIP
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StarBand Statement on Bankruptcy Court Approval of First Day Motions
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Asia Global Crossing disappoints
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Napster:

The music's over for Napster
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Napster files for bankruptcy to complete sale to Bertelsmann
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Bertelsmann role becomes clearer as Napster files for Chap. 11
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Copyright rulings stand despite Napster bankruptcy
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Kmart:

Kmart reshuffles merchandising
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Kmart Makes More Executive Changes
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Shoppers pick shelves clean at doomed Kmart stores
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NYSE seeks to eliminate conflicts of interest
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Springs buys Burlington unit
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Bank profits up 9.6 percent in first quarter but credit problems continued to grow, FDIC says
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Bankruptcy Reform:

Paul Wellstone, Fighter
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Airlines:

U.S. Eyes Greater Foreign Stakes to Help Airlines
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Defunct Atlanta-Area Natural-Gas Marketer Seeks Payback
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  Power Utilities:

PG&E Creditor Group Endorses Competing Plans
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Court: Governor exceeded authority in seizing power contracts
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El Paso executive found dead in apparent suicide
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Questionable Energy Trading Tactics Create Some Strange Bedfellows
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Adelphia:

Charter drowning in Adelphia rescue
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Highfields Increases Stake in Adelphia
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Adelphia's Buffalo, Erie systems could be on the block
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Clark Group Files for Bankruptcy
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High court beefs up SEC's antifraud powers
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Steel:

Birmingham Steel files for Chapter 11
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WTO launches US steel tariff probe
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Birmingham Steel files Chapter 11 as part of Nucor purchase
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Birmingham Steel files for Chapter 11
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Spiegel shares delisted by Nasdaq, trying to reach debt accord
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Law Firms:

Merger Mania? - Talking merger is the favorite indoor sport these days of many law firms
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Malpractice Policy Rates on the Rise
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Firms Don't Rock the Boat - Salaries, billing rates hold steady in Texas
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Minding the Money: Texas Salaries, Billing & Recruitment
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Lessons From Brobeck: Avoid the Cult of Personality
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More woes for Tyco
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Next lot: Sotheby's?
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American Consumers Increasingly Filing for Bankruptcy
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The Plastic Surgery Company Accepts Letter of Intent
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New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Jobs - 142 Jobs - Last Updated June 3, 2002
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Bankruptcy Court Web/Pacer Site Directory

Enron:

Judge Says Only One Firm Can Get Enron Employee Committee Work
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Citigroup off creditors unit in bankruptcy
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PUC Moves to Fine Enron
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White House provides Enron documents
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Enron requests confidentiality agreement before files released
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White House Gives Lieberman Limited Access to Enron Data
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Accounting:

Andersen Worker Probed on Enron Role
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Andersen faces deadline for paying Baptist foundation settlement
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Judge denies request from Andersen team

Retired partner brokers Andersen deal
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As Trial Nears End, Andersen Case Proves to Be Trickier Than Thought
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Andersen Accused of Shielding Funds
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Congress: Sarbanes Introduces Far-Ranging Accounting Reform Bill

Andersen witnesses undergo tough cross
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Secretary Testifies in Andersen Case
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Andersen Partner Saw Slim Chance of SEC Probe's Escalation
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Andersen Trial Enters Home Stretch
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Accounting Reform Slows to a Crawl
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______________________

San Jose Symphony:

Bankruptcy comes despite 89 musicians' sacrifices
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San Jose Symphony to fall silent
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_______________________

Financial battle being played away from World Cup
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St Paul to Pay $987 Million Over Asbestos
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Korea:

Hynix's Creditors Gain Control of Debt-Laden Memory-Chip Maker
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