March 12, 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

         
Enron:

Vinson & Elkins and Enron Unplugged
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Enron investigated for fraud, market manipulation
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Questions From Congress for Enron's Law Firm
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SEC reviewing revised contract with Enron CEO
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Ex-NYC comptroller Goldin named examiner in Enron case

Federal judge allows shutdown of Enron’s broadband network
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New round of Enron bonus payments
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FTC OKs NewPower buy
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Florida Pension Fund Faces Post-Enron Quandary
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The Brick Stood Up Before. But Now?
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Enron gets new in-house counsel
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Jeb Bush Pushes Talk of Enron Suit
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Jepsen Says Transcripts Indicate A Loan
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Enron faces HQ eviction, must pay back taxes
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Senate Committee Grills Wall Street Analysts Over Enron Coverage
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Enron turns over asset documents in county inquiry
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INSpire Insurance voluntary delists from Nasdaq
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Law Firm Restructuring:

Job Market Is No Longer Law Students' Oyster
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Safety-Kleen Receives Approval of Bidding Procedures for Sale of Chemical Services Division
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Time Inc. in Bankruptcy Deal For Subscribers
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Investors Buy, Plan to Reopen Bankrupt Portland Bottling Co. in Oregon
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Power Utilities:

California files new suits - State alleges electricity sold out from under it
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Time-share operator Sunterra moving headquarters to Vegas
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Oldcastle Materials to buy U.S. Aggregates
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Steel:

Some creditors may get leftovers
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EU Prepares to Fight against U.S. Tariffs on Steel Imports
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Bush's tariffs too weak to stabilize Big Steel
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Steel wars: saving a sick industry
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Economy:

Six Months Later: The Economy That Didn't Crash Won't Boom, Either
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Dialpad completes restructuring, ready to normalize operations, CEO says
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Department Stores Fight to Save
A Model That May Be Outdated
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U.S. Aggregates Announces Agreement to Sell Company Assets; Company Files Voluntary Chapter 11 Petition in Conjunction With Transaction; DIP Financing In Place
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  Accounting:

Andersen Client Loss Could Pile Up
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Will the Big Five go down one?
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Andersen may seek bankruptcy before sale
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The Risks and Rewards of Acquiring Andersen
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Volcker Pushes for Andersen Breakup
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Enron auditor plans bankruptcy filing
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Volcker releases plan to split Andersen in two
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Deal could be last hope for accountant
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Andersen considers "many options" over its future
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Troubles at Arthur Andersen Threaten Times Square Deal
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Andersen Buyout to Be Studied by Plaintiffs' Lawyers
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Andersen collapse would be widely felt
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Time is not on Andersen’s side
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Andersen's Consulting Focus Questioned
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Paper Says Andersen Has Outside Insurance
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Andersen in Sale Talks With Ernst & Young, Deloitte
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The rocky road to accounting alliances
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Legal woes make Andersen takeover no easy feat
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Some Firms Pay Accountants More for Consulting Services Than Auditing
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No order to destroy Enron documents?
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Local firms could multiply Arthur Andersen's woes
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Fedex to Drop Arthur Andersen
As Auditor; Chooses Ernst & Young
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Andersen Seeks a White Knight
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Andersen may plead guilty
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Swaps for Accounting Purposes Were Used by Many Asian Firms
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Future Beef:

Bankrupt Future Beef to seek $15M DIP
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Safeway Takes Charge For Future Beef Bankruptcy
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Bankrupt Malden Mills in settlement for $2.5 mln
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Simon Transportation Announces Key Events in Bankruptcy Proceedings
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Something's Rotten at Queens Co-op
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Citing court costs, Aimster founder Johnny Deep files for personal bankruptcy
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Wells Fargo latest target in scams
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Chester Holdings Ltd. Files Chapter 11
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Motient:

Bankrupt Motient sets April exit
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Motient Completes Next Step in Reorganization Plan
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New Bankruptcy Opinions
(3 new opinions today)

Bankruptcy Jobs - Updated March 7, 2002
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Bankruptcy Court Web/Pacer Site Directory

Kmart:

Wooing Martha
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Kmart CEO leaving with $9 million deal
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Cities See Red in Kmart Closings
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Kmart closings to hurt landlords, workers
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Conaway's Strategies Failed
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Kmart CEO Conaway leaves company in wake of bankruptcy and store closings

Ouster won't end pay furor
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Kmart Judgment On Hold
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Acadia Realty Trust Notes That No Kmart Stores At Its Shopping Centers Are Scheduled To Be Closed
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Strategic mistakes at Kmart
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Kmart Faces Diva's Desertion
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Kmart move to cut profits of food firm
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Telecoms:

Qwest Receives Informal Inquiry From SEC
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Qwest calls SEC probe 'corporate McCarthyism'
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NextWave Telecom's Twisted Tale
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Former Winstar Executive Defends Accounting
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XO Rejects Bondholders' Buyout Offer
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Global CEO predicts earnings rebound
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Impsat says reaches creditor deal on restructuring
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Judge Appoints Mediator in Telecommunications Bankruptcy Plan in Texas
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Watchdog probes Qwest accounts
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SEC requests Worldcom documents
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PSINet cites economic reasons for closure
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Moody's, Fitch Separately Adopt Negative Stance On Williams
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Global Crossing to emerge intact from bankruptcy
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Japan:

Bond default could cause crisis
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Mycal considering rent default
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Business leader skeptical of revival
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Unhealthy banking system claims another victim
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Canada:

Doman Industries bankrupt unless $26 million in interest paid
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_________________

Korea:

Hynix creditors join Micron talks in Boise
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