March 20, 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:

Fastow points finger at Enron officials
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Despite "serious reservations," court upholds for now a limit on Enron suits
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Banks Get Tangled Up in Fall of Enron
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Credit Raters Face Inquiry Over Enron
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Enron Creditors Trying to Salvage Andersen Settlement
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Enron Failure Prompts Push for Regulation, Bloomberg Poll Shows
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Andersen Cuts Settlement Offer
On Enron to Around $375 Million
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Enron's Original Sins: Lies Began Long Before Current Crisis
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Enron to put power contracts up for bid

Credit Raters Face Inquiry Over Enron
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Enron Ready to Hire Bank to Manage Retirement Plans
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Houston Astros to Contribute $150,000 to Enron Employee Fund
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Indian Lenders Go to Court Over Enron
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Merrill Lynch to Start Buying Subprime Loans
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Crane maker Grove gets big lift
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Court approves trustee for Epic bankruptcy
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Kmart:

Kmart executives could lose deferred pay
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Kmart Boss Listens As Martha Stewart Offers Corporate Makeover Advice
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Kmart struggles to survive, as its key competitors gain more ground
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Hurt by Kmart, Malan Realty might liquidate
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Malan Realty board recommends liquidation
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Kmart to seek OK to close stores
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Madster:

Madster corporations seek Chapter 11 shield
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Bankruptcy Filings Stay Madster Suit
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Mooney Aircraft:

Calif. firm acquires Mooney, plans to rehire furloughed workers
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California Firm Buys Bankrupt San Antonio, Texas-Area Aircraft Maker
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AASI Completes Mooney Acquisition
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Group's financing for Jazzland fizzles
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Airlines:

Some U.S. airlines may face bankruptcy-Boeing CEO
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Collapse of Sabena airline costs Belgium 1.7bn euros
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Blame continues over failed Australian airline
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Kaiser Aluminum:

Kaiser gets spending money
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Kaiser Aluminum Receives Final Approval of $300 Million DIP Financing
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Out of work and just waiting
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Polaroid:

Polaroid hangs on
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Polaroid seeks OK of retention plan
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  Delaware could get four more bankruptcy judges
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ANC, creditor end dispute over president's salary
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G-I Holdings Says Law Firm Backdated Asbestos Lawsuit Filings
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Accounting:

Andersen indictment may have snowball effect
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Andersen split faces legal pitfalls
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Andersen Says Government's Obstruction-of-Justice Case Is Flawed
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Andersen Is Changing, But Not According to Plan
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NYSE, Nasdaq Should Tighten Audit Committee Rules, SEC Says
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Senator Says S&P, Moody's Should Face SEC Scrutiny
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Senior Andersen Executive Defects to Smaller Chicago-Area Firm
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Andersen expected to plead not guilty
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Andersen Units Look to Reassure Suitor KPMG on Legal Issues
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Audit-Cleanup Measures Have
Support of Finance Executives
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Andersen's Demand for a Speedy Trial Poses Risks, Experts Say
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Q&A: Andersen offices defect to KPMG
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Andersen Says Its Policy Lacked `Clarity' on Paper Shredding
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Rivals Attempt to Take Clients of Arthur Andersen's Florida Practice
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Andersen to Slip to Second Tier Without Affiliates
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Andersen Advised Global Crossing, Qwest on Accounting For Swaps
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Andersen hawks U.S., foreign units
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Andersen charges questioned; Deloittes chief speaks out
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Andersen Worldwide In Talks With KPMG
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Dynegy, Enron suitor, drops Andersen
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Ex-congressional auditor urges new accounting cop
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Andersen Legal Network In Danger of Falling Apart
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Andersen/KPMG merger could hit major hurdles
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Crumbling Andersen Threatens Competition
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Accounting Panel Talks to Congress
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March Madness Could Force Andersen to Foul Out
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Ex-Goldman chairman Whitehead says accountants should not audit, consult
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Andersen Faces Flight in Ranks

Accounting Professors See Much to Learn from Enron
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Federal auditing board disbands
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The Death Of Arthur Andersen? So What?
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Unusual Approach to AA Lands DOJ on Slippery Slope
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Andersen has slim chance to survive in U.S.-experts
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OCC Eyes Real Estate Lenders, Start-Ups in Problem Areas
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Mohr Meets Creditors
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Dictaphone’s Chapter 11 plan includes independence from L&H, $30M credit line
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Jobs - Updated March 18, 2002
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Bankruptcy Court Web/Pacer Site Directory

GE Medical wins MedicaLogic assets
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Law Firms:

Law Firm Hiring Trends
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Telecoms:

Debt-free Viatel resurrected as European network wholesaler
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Global's Filings Failed to Note Business Link to Its Adviser
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KAB Group Asks Global Crossing for Information On Prior Relationships with Its Preferred Bidders
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Mood at San Diego-Area Telecommunications Convention Reflects Hard Times
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Global bankruptcy hearing rescheduled, again
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Bankrupt Exodus sells facility
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Cypress Foods Bankruptcy Disposition of Hens Complete Says Ag Chief
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Shuttered Toy Company Files for Bankruptcy
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Chiquita:

Chiquita peels out of Ch. 11
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Chiquita emerges from bankruptcy protection
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Dozens of companies could see cash squeeze
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Era of trust in corporations coming to end
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Bush Gets Tough on IRS Snooping
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Tri-National Gets Contested Exclusivity Extension
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US' KCS Energy posts loss, cites prices, Enron reserve

Standard Automotive Corporation to Facilitate Sale or Restructuring through Voluntary Chapter 11 Reorganization
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Celadon buys assets of bankrupt Burlington
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Bad debts can burn small businesses
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Wall Street:

Triage Continues For Wall Street Brokers

Goldman's Net Slid 32% in Quarter;
Firm Warns It May Cut Work Force
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Steel:

EU weighing legality of retaliation on steel
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Bethlehem Steel reports US$41.9M loss for January
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Troy Mills buyout folds: Workers pull their plan to purchase the plant
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Hart promises help for LTV retirees
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China:

China rocked by wave of labour unrest 

Protests Arise in China's 'Rust Belt'

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England:

Lawyer in internet twins row bankrupt

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Germany:

Kirch Bid to Avoid Bankruptcy Dims
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Canada:

Hubbard Holding gets extension of time for filing a proposal
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