June 6, 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

         

DIP dimensions – World Kitchen Inc.
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Deborah Schrier-Rape - Family law
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Airlines:

New airlines fly in clouds of doubt
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Airline loan program inches closer
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More Turbulence for Airlines
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The Airlines' Recovery Is Stalling
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US Airways Will Not Fail As a Company, CEO Vows
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Accounting:

Damning picture of Andersen as trial nears end
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Lawyers Directed Andersen Document Destruction, Prosecutor Claims
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Local Andersen Attorneys Abandon Ship
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Document-Shredding by Andersen Was a Calculated Effort, U.S. Says
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Andersen judge instructs jurors before arguments
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Andersen Pays Off Baptist Foundation
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Atos buys KPMG units
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VisionLand files for bankruptcy
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Power Utilities:

FERC order sinks utility stocks - Williams, Avista, Portland GE and El Paso all down after regulators threaten to pull licenses
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Power sellers say Calif plan is "regulatory overkill"
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Firm Wins Lawsuit on Energy; High Court Rebukes Davis for Intervention
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Perot Systems Gave Enron Pricing Tips, Senator Says
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Burlington Finalizes Strategic Restructuring Actions and Sets Future Structure of Company
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Firms That Lived by the Deal Are Now Sinking by the Dozens
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Seitel Struggling To Avoid Bankruptcy, Asks Judge to Rule on Contract
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Digital Transmission To Liquidate Assets To Pay Debt
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Tonga Sues Court Jester Over $26 Million Boondoggle
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Law Firms:

Will spurned Bay Area firm sue?
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Alive and Kicking - Rumors of death greatly exaggerated
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Heller Hires Pair of CSFB Heavy Hitters
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Holland & Knight to merge with McBride Baker & Coles
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US Firms Picking London Partnership Clean
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Moab, Utah-Based Sports Clothing Maker Files for Bankruptcy Protection
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Parties Bound by Pact Limiting Appeals
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  Goldman Calls for Majority of Independent Directors
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Goldman's Paulson offers reform program
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Letter from Delaware
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Enron:

Sacred Cow Au Jus
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Andersen Wins Request to Quash Enron Motion
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Enron Creditors' Probe of Andersen Blocked by Bankruptcy Judge
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House Panel Investigates Enron's Energy Trading Tactics
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Rule saves Tyco workers' 401(k) plan from tragedy
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Juicy new name for Enron stadium
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Minute Maid triggers pun and games
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Enron-Inspired Showdown Involving Venoco Executives Heads to Shareholders
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Tech companies raise reserves for bad debts
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Adelphia:

Adelphia's Rigas family resigns
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Moody's: Adelphia Bankruptcy 'Imminent'
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Four Members of Family that Founded Adelphia Business Solutions Resign
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Moody's warns Adelphia creditors of losses
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Adelphia Family's Legal Costs at Issue
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Dairy Mart Gets Extension For Filing Chapter 11 Plan
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San Jose Symphony:

Sour note for San Jose's musicians / Some are forced to move away, affecting other area orchestras
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Auction Set for Ailing Santa Barbara, Calif.-Based Plastic Surgery Company
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Farmland:

Farmland says Smithfield offer wasn't viable
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Series of orders approved in ag cooperative's Chapter 11 case
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Farmland Industries Lists Largest Unsecured Creditors
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Farmland says court lets use funds to keep operating
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Kmart:

Blue Light vs. red ink
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Tyco may take $6bn hit in CIT disposal
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Deal clears way for Metachem cleanup - Bankruptcy judge gives EPA and Delaware the rights to sell factory's assets

Atlanta: Firm owned by ex-mayor's friend files for bankruptcy
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Bankruptcy exits - June 6, 2002
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3M: Attach asbestos suits
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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

Study criticizes Delaware bankruptcies

Paperwork used for revenge - Protester's bogus bankruptcy petitions temporarily disrupt officials' credit
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Telecoms:

Network Access goes offline
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Teleglobe in court over BCE
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KPN to continue funding KPNQwest for 'a matter of days'
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KPNQwest Lays Off a Third of Dutch Headquarters Staff
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Bankrupt WINfirst draws interest
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Asurent Wireless to liquidate assets
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Goodwill Hunting - The other shoe is about to drop, and it may crush the balance sheets of many cable and telecommunications companies
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Struggling WorldCom could jettison 16,000 jobs
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Global Crossing Courts Clients of KPNQwest, European Rivals
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Williams Communications Investors Get Hearing
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Qwest Investors Descend Upon Dublin, Ohio, to Vent Displeasure with Executive
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9,000 Cellphone Customers In Lurch
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Court Confirms Liquidation Plan For Former Exodus Commun
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SBC facing big challenges amid the global downturn
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GlobalStar in talks with Inmarsat, buyout firms
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Rusnak charged over Allfirst scandal
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A corrupted market
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Study Finds Negative OPS a Predictor of Possible Bankruptcy
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$30 mil in DEN programming set for auction block
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Debit card case headed for review - Retailers challenge Visa, Mastercard over fees
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Law firm plans to securitize its fees in $53.5 mln tobacco suit fee bond
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Regus considered Chapter 11 for US subsidiary
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Shareholder Bids for Remaining Interest of Bankrupt Ride Maker
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Steel:

U.S. Steel to Let Bankrupt National Options Expire
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Bids for LTV's assets due July 10
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England:

Bankruptcy Swamps Rising Tide of British Students, Graduates
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Hong Kong:

Hong Kong's Largest Restaurant Closes
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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