June 7, 2002 

FCC OKs limited waiver for Las Vegas phone transfer by bankrupt CLEC
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Bankruptcy Court Orders Cellular Service Restored
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Most Cellphone Service Restored
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Williams Commun Hldrs Seek Formal Committee In Ch 11 Case
(WSJ: separate paid subscription required)

June 24 deadline set for Teleglobe asset bids
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Teleglobe monitor's powers expanded
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Lehman Looks at KPNQwest Assets
(WSJ: separate paid subscription required)

KPNQwest banks aim to keep network running
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XO debt holders want Forstmann back
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Europe telecoms firm may run key KPNQwest network
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Securities Lawyers Win Class Actions Involving Telecommunications Company
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Governance:

NYSE unveils governance reforms
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NYSE to Face Resistance From Members Over Board Rules
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Cleaners move in at America Inc - After the years of corporate excess, New York Stock Exchange prepares to bring in tough regime
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NYSE Proposes Board Revisions - Plan Stresses Director Independence
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NYSE Seen Likely To Back Governance Plan, Even Amid Pans
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Bankruptcy Court Tells Serta To Share Sleepmaster Reports With Creditor Committee
(WSJ: separate paid subscription required)

Enron:

Four Directors Exit Board of Enron
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AFL-CIO says no Enron severance deal yet
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Scandal Sheet: The Enron mess
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Sugar Land, Texas Police Release Report on Former Enron Executive's Death
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Power Utilities:

PG&E bankruptcy plan calls for PeopleSoft software
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Calif. rejects PG&E bid that threatened power bond
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Network Access Solutions Wins OK To Use Cash Collateral
(WSJ: separate paid subscription required)

Capital Contribution or a Loan? - A Practical Guide to Analyzing Recharacterization Claims (or, When Is Equitable Subordination the Appropriate Analysis?)

Law Firms:

Crosby Tries to Meld New Acquisitions
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Gordon & Rees Grabs Nine From Boutique
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Paul, Hastings Hires Farella Group Leader
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Holland & Knight Adds 85 Lawyers in Chicago
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Capital Competition - Out-of-towners may be taking root in Sacramento, but local firms say they are still holding their own
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Safety-Kleen's Chemical Services Division Bid Deadline Passes; One Qualified Bid Received
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Steel:

Steelmakers Encourage President to Keep Tariffs
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Restructuring over, Burlington discloses
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Investors Want Lenders to Make Public More Data, More Often
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States Tell Wall Street Firms: Reform, or Lose Our Business
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Accounting Reform Bill Gains a Backer
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Experts less certain of Andersen verdict
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Andersen jury asks for Duncan material
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Arthur Andersen's Fall From Grace Is a Sad Tale of Greed and Miscues
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Andersen Jury Back Today
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No verdict in Arthur Andersen shredding case
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Deliberations Begin in Anderson Trial
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Get your act together, Big Four told - Finance executives leader accuses US profession of staying too quiet and damaging the system
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Andersen jury begins deliberations with request for supplies
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Firms fleeing Andersen eschew smaller auditors
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Interview With an Accounting Ace
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Accountants more conservative in wake of Enron - Moody’s says auditors are reviewing reporting for SPEs and securitization transactions ‘more thoroughly’
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KPMG sees 'possible' fraud
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Post-Enron US Senate bill gathers some key support
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Airlines:

Feds cool to airline aid
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Boeing's Mulally is courted by United Airlines
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Fly Right, Protect Your Frequent Flier Miles
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Farmland DIP vaults Deutsche
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Clock ticking as Bombardier mulls deal with Fairchild
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GE Board Ranks Lowest on Independence
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Visa, MasterCard face huge potential damages
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Kmart:

SEC seeks documents from Kmart
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Kmart seeks ways to get well
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Retention loans at Kmart backfire
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Provell Gets Final Court OK Of $21M DIP Financing Pact
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Dairy Mart:

Couche-Tard eyes Dairy Mart
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Canadian Company Bids for Dairy Mart
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Couche-Tard bids $80M US for 450 insolvent American convenience stores
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MagCorp:

Court Allows MagCorp To Sell Its Assets To US Magnesium
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MagCorp Deal Makes EPA Worry
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_______________________

Boardroom excess may be killing the recovery
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Junk bond laggards turn into this year's U.S. gems
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Omaha, Neb., Auto Leasing Company Files to Reorganize Its Debts
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Allied Capital Attracts a Feeding Frenzy as Ghost of Enron Spurs Sharks
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American Tissue plants sold to Canadian firm
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Fresh terrorist disaster 'could bankrupt insurance giants'

Expanding Tyco Inquiry Targets Company Spending on Executives
(WSJ: separate paid subscription required)

Directrix Files Chapter 11 Bankruptcy
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New Bankruptcy Opinions
(No new opinions today)

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

Bond holders fight for say in corporate failures
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Parties object to Polaroid request
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Energy Traders:

Dynegy, Williams Bond Yields Rise to Junk Levels
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4 energy firms warned selling rights are at risk
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Perot firm showed ways to hike costs
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Perot Systems continues nosedive
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Perot subpoenaed by Calif. Attorney General
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Perot Says It Tried to Sell Advice
(WSJ: separate paid subscription required)

PSC: No bailout for defunct marketer
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Bankruptcy Reform:

IMF's Krueger Fleshes Out Debt Restructuring Proposal
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IMF says US bond restructure plan problematic
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____________________

Hearing On Settlement Between Webvan, Ex-Workers Postponed
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Other Converse shoe drops
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Sullivan's tale reaches Chapter 7
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Adelphia:

Adelphia Kept 2 Sets of Books
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Adelphia refuses to pay founder's legal expenses
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Adelphia Approaches Banks on Bankruptcy Financing
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Adelphia risks losing channels, pay-per-view
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Riverside, Calif.-Area Communities Keep Eye on Adelphia's Situation
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Adelphia Junk: Bankruptcy Creeps Closer and Closer
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___________________

Texas Town Puts Workers on Halftime To Try To Avoid Bankruptcy
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Canada:

Stoddart fate up in air
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_______________________

Australia:

Nothing left for Hartner creditors, says liquidator
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____________________

England:

Players face job losses as insolvency advisors recommend suspension of 'super creditor' rule
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FDs shun 'Big Brother' selection
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Bankruptcy plans labeled 'ridiculous'
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Scotland:

Scottish Bankruptcy Laws to be Reformed
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____________________

Germany:

Deutsche grants Kirch loan extension
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_____________________

Argentina:

IMF says announcement on loan negotiations delayed until next week
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Do cry for us
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________________________

Japan:

Bad idea, Japan picking a fight with rating agencies
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