March 13, 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:

BofA to Hire Three Former Enron Traders
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US Trustee Names Harrison Goldin Examiner Of Enron Unit
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Cash infusions among units probed
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Seeds of a scandal
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Fine print in Enron debacle - Owner of a gas well fights for bankrupt firm's small creditors
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Lay sells 2nd Aspen house
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State looking into Enron severance
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Enron Processing Ppties Files For Chapter 11
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Florida's Pension Advisory Panel Plays Hardball over Enron Investments
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Dabhol-bidders start getting edgy
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Democrats Try to Surpass Bush in Tough Post-Enron Fraud Laws
(NYT: separate free registration required)

Various Enron, Andersen Investigations Continuing Apace
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AFV Report Finds 52 Enron Employees, Consultants, Beneficiaries Now On Government Payroll
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___________________

Accounting:

KPMG adds its name to list of Andersen suitors: Rescuer to be revealed soon as worries grow over Justice Department probe
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Volcker States The Obvious
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Andersen Wary of Guilty Plea
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Andersen Strives for U.S. Accords;
Continues Sale Talks With Deloitte
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Justice Threatens to Indict Andersen
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Andersen, Government Appear Close to Settlement
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Andersen scrambles for settlement: Enron fallout: Accounting firm needs SEC deal before sale possible
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UtiliCorp United Plans to Retain Arthur Andersen as Auditor
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KPMG's audit may cost it $7.4 million
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Employees Believed Shredding Was Policy
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To Sell Itself, Andersen Might Resort To Chapter 11 First
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Boston Chicken Case Mirrors Enron
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Accounting Industry Faces Legislative, Legal Challenges
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Leaving Arthur Andersen
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Andersen Sale Called Threat to Reforms
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Accounting: It's Not just a job, it's A misdemeanor
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Andersen sale unlikely, industry analysts say
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Accountants May Face Higher Insurance Costs After Enron
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Andersen looks for survival plan
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PricewaterhouseCoopers records sought in Hanover Compressor investigation
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______________________

Fearing Bankruptcies, Baseball Commissioner Set to Enforce an Old Rule
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Lexington, Ky., Bookstore Firm Sells Domain Name to California University
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Bankrupt Detroit-Area Auto-Parts Supplier Finds Buyer
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Primer on Pension Issues in Bankruptcy

Former Quarterback, Owner of San Antonio, Texas Eateries Files Bankruptcy
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  Sidley Plans London Bankruptcy Group
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Creditors, GE Capital at odds over Montgomery Ward
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Airlines:

Sale of assets at Sun Country stalls
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No US Airline Recovery Seen This Year
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Canada 3000 claims may top $118 million
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Bankruptcy Court Allows Creditor to Sell Sun Country Airlines Assets
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Air Lib may return to the brink of bankruptcy by October
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Questor bids $145M for 2 bankrupt automakers
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Kmart:

Employee tries to halt Kmart closing
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Somebody's out to put a Kmart Gold card in my wallet
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Creditors upset with Kmart bonus

Last chance starts now for Kmart
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Kmart woes plague local firm: Minnetonka Brands files for Chapter 11
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Kmart Unlikely to Cut More Stores, Analyst Says
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Turnaround guru takes Kmart reins
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______________________

Music Semi plays on after Chapter 11 filing
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Congress looks to plug Bermuda tax loophole

Group Opposes Fort Lauderdale, Fla., Rental Chain's Bankruptcy Proceedings
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Bankrupt Federal-Mogul Completes Divestiture of Signal-Stat
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Congress Again Tries to Tighten Derivatives Rules a Bit
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Record store Djangos.com files for bankruptcy
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Home Interiors and Gifts, Inc. Approved by United States Bankruptcy Court as Lead Bidder to Acquire Open Invitation/House of Lloyd
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Steel:

LTV Repeats: Common Stock is Worthless
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Enough Is Enough When It Comes to Protecting Big Steel
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Steel -- Just a Symptom
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____________________

Senators would criminalize corporate fraud
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Central Freight makes bid for Simon Transportation
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Hi-Rise Recycling initiates Ch. 11
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Arter Sued for Malpractice Over $20M SOMA Lease
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WorldPoint faces involuntary bankruptcy
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Former Trinity Gas Chief Sers Sentenced to 17 Years in Prison
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Vegas PR exec in bankruptcy
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The Dangers of Filing Avoidance Actions at the Last Minute

Bankrupt Nx Networks Sells Its Business Products And Services To nsgdata.com
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Federal Prosecutors Indict 12 People In Alleged AppOnline Fraud Scheme
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One-Quarter of Americans Adding Debt While Living on Credit

Navigant Consulting Announces the Departure of the Executive Director of Its Financial Advisory Services Group
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Bankrupt Tristar attracts bidders
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New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Jobs - Updated March 13, 2002
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Bankruptcy Court Web/Pacer Site Directory

Study Suggests Plenty More Bankruptcies Await
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PricewaterhouseCooper's Report on 2002 Bankruptcy Expectations

Jacobson's Hires Financo, Inc., As Financial Advisor
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600,000 Dead Chickens Later, Egg Wholesaler Likely to Be Liquidated
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Presstek Manufacturing Partner Files For Bankruptcy
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Telecoms:

Fed panel probes Global Crossing
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Creditors file objections, suit claims savings laws broken
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Denver fiber-optic firm WINfirst files for bankruptcy
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IDT Swings Axe at Winstar
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Telecom's Illness Hits Industry Leaders
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Congress targets Global Crossing - Bankrupt telecom provider asked to turn over documents
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Court for Global Crossing Creditors
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XO Communications Board Rejects Bondholders' Restructuring Plan
(WSJ: separate paid subscription required)

______________________

Enronitis may spoil one-stop shop party for banks
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XeTel sues `turnaround' firm: Electronics manufacturer claims Florida company aggravated financial troubles
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Homestead exemptions offer questionable bankruptcy refuge
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FleetBoston cuts in half bonuses of top officers
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Profit at Credit Suisse Group Plunged 73% Last Year
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OTR Express files for Chapter 7 bankruptcy liquidation
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England:

Verdict on UK banks probe due this week
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___________________

Canada:

Ex-Dylex employees sue
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Debt staggers Doman as wood fight takes toll
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____________________

Australia:

Stars' agent goes bankrupt
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____________________

Japan:

Midsize general contractor Sato Kogyo files for bankruptcy
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______________________

Germany:

German Bankruptcies Rise 17% In 2001 To 49,300
(WSJ: separate paid subscription required)

Axel Springer says does not want to force Kirch into bankruptcy
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Kirch gets nowhere with bank meetings: Giant media firm needs US$1B to keep creditors at bay: Talks end in three hours
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__________________

Mexico:

Mexico's Desc declares petrochems unit bankrupt
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___________________

Korea:

Sale of Daewoo unit in jeopardy
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_____________________

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