March 4, 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' Smoking Gun?
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Enron’s Dirty Laundry - How a vicious, 10-year rivalry between two top executives helped create the sex-drenched, out-of-control corporate culture that ultimately wrecked the company
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How Big a Slice? - Disclosure key to Milbank Tweed's bid for second helpings of Enron
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Blue chip investors lured by Enron's promises - Documents show partners enticed by insider profits
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Investors Try to Keep Former Enron Executive from Role in LJM2 Partnership
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GE can pursue Enron Wind deal
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Skilling says 'we weren't a bad company'
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Skilling Hints End to Cooperation
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Revisionist History at the Enron Hearings
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Enron's classic con job worthy of The Sting
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Reed's link to Enron studied
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Skilling: Not expected to count the money
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Enron Saga Has Familiar Ring for Bush
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'Bankruptcy of character' exposed at Enron congressional hearings
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Enron Still Pursuing Its Case Against FERC
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Ex-Enron exec Pai target in many lawsuits
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An Enron Auditor and an Elephant Walk Into a Bar . . .
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CSFB Team Played Role in Enron Partnerships
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Once-energized offices of Enron in funereal pall
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Enron history mars job search
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Enron scandal offers fodder for wide range of groups seeking a symbol for their cause
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Enron paid incentives for profit mirage

Enron's fall spotlights AFL-CIO crusade - Union push for corporate accountability predates company's ruin
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Creditors Fight for Enron's Most Profitable Unit
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Enron seeks better offer than GE's for wind unit
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With the end near, Enron cash flowed
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Stung by Enron, business journalists increase their vigilance
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Ignorance at the Top
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Insurers seen cautious with surety bonds after Enron
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Enron to Drop Argentine Deal
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Enron seeks to sell retail contracts to Constellation

Analysts' Plea of Ignorance Undermines Market
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Executives not likely to be punished - Questionable business practices may turn out to be perfectly legal
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Enron's Troubles Bolster Critics of Chief Executive Officers' High Pay
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Regulators investigate Enron's role in Calif. power crisis
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Enron Gave Out Incentive Awards as Losses Were Hidden
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Retention, severance program top priority for Enron's CEO
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Enron Tried to Delay Paying Taxes
On Foreign Profit, Documents Show
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Enron and Robert Rubin 

Enron Paid Huge Bonuses in '01; Experts See a Motive for Cheating
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Bush won't oppose release of some of task force's files
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Inquiry into fund manager losses
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Going at a fast clip
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Enron Suggests It Might Keep Portland
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Price of abuse: dioceses sell land, borrow money to pay settlements in sexual abuse cases

Globix Proceeds With Pre-Packaged Reorganization Plan
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Hawaii: Prosecutors support revoking Sia’s bail
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Georgia Introduces Anti-Predatory Bill
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Credit card fraud hit 1 in 20 users
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U.S. arrest warrant issued for hedge fund manager
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  Telecoms:

Fleet claims collusion in Global deal
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Lender Opposes Global Buyout
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A carbon copy of Enron's fall
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Telecom Bid War
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Qwest CEO "confident" on bank accord
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LA firm said to be keen to buy Global
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XO could file Chapter 11 this week
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Big shifts in strategies keep tech firms afloat
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Few Good Words for Williams Communications - As the telecom network operator slides toward Chapter 11, investors wonder if anything will be left worth salvaging when the dust settles
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NextWave Awaits Word From Top U.S. Court on Airwaves
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Repo Man: Sign Of The Times
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How do Bankruptcy Laws Help Revitalize US Businesses?
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Kansas Oil Firm Frets Over Playmate's Case
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JPM to seek liquidation
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Kmart:

Kmart's Last Chance
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Kmart Asks Bankruptcy Judge to Allow It to Continue Licensing Agreements With Major Brands
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Kmart's Liquidation Sales Plan Encounters Opposition from Some Landlords
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__________________

Court confirms Azurel reorganization plan
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No objections to Pillotex's weave
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There's life after bankruptcy
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Energy firms feel the drain
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Foley, Hoag, & Eliot names bankruptcy partner
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Steep drop in Triple-A ratings
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Gap Got Junked. Now What? - Bankruptcy Possibility
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Florsheim to miss note payments - a step closer to bankruptcy?
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Steel:

Steel Industry Needs Tariffs and Much More
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Man of Steel?
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Rocks and hard places await Bush on steel

Algoma head quits without explanation
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Bush Will Seek a Tariff Compromise
In Bid to Rescue Ailing Steel Industry
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Bush Weighs Raising Steel Tariffs but Exempting Most Poor Nations
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Other buyers hinted for Beth Steel, plants
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Steel import tariffs to cut both ways

EU set to retaliate if US imposes steel tariffs
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Carter's bankruptcy bad news for Broncos
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Pay for performance?
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Suprema gets reprieve from bankruptcy judge

Bankruptcy Reform:

Bankruptcy Law Expert Warns Reform Bills Now Before Congress Would Allow Enron-Type 'Off-Book' Deals
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Daschle Optimistic
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__________________

Bankruptcy filings in Louisiana increase more than 14 percent
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Power Utilities:

Judge Appoints Mediators to Deal with Bankrupt California Utility's Huge Debt
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PG&E's sob story didn't wash
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Enron prompts PUC to ask utilities to reveal auditing practices
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Edison Unit Makes Big Debt Payment, Allaying Worries of Chapter 11 Filing
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Edison sends creditors $5.5 billion to repay debts
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SCE gets financing, pays creditors $4.8 bln
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______________________

Bankruptcy no protection in police property seizures
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New Bankruptcy Opinions
(2 new opinions today)

Bankruptcy Jobs - Last updated March 4, 2002
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Bankruptcy Court Web/Pacer Site Directory

Bay City's bankruptcy judge leaving; locals hope the court stays
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Turning LBO equity into debt
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Court allows credit rating lawsuit
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The opinion - Nelson v. Chase Mortgage Corp.
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North Castle leads $20M Leiner investment
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Genesis Microchip wins auction for VM Labs
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Bibelot: Bank seeks trustee for Weese assets - Chapter 11 allows use in fraud cases, other wrongful acts
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Accounting:

Andersen paying $217 million to settle suits
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Arizona Baptist Foundation's Bankruptcy Shattered Investors' Faith
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7 deadly sins of corporate accounting
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Arthur Andersen Puts On Public Face of Stoic Concentration While Soldiering On
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Undone by Ties
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Big Accounting Firms Break Ties
With Andersen to Resist Changes
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Merck replaces outside auditor Arthur Andersen
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Merck axes Andersen, more defections seen
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Big Five Accounting Firms Made Push to Triple Their State Board Representation - Trend runs counter to the current push for independent oversight of the industry.
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UBS Sold Shares of Computer Assoc. Execs
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Moody's Cuts Long Bond Rating
Of Ailing Computer Associates
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Siebel pushes SEC to update reporting rules
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___________________

Calls for Faster, Fuller Disclosure by Insiders
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Credit help an alternative to bankruptcy
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Law Firm Restructuring:

Demand for lawyers remains strong
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___________________

Airlines:

Ansett shuts up shop
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Effects of Sept. 11 Seem Limited As Several Airlines Prepare Deals
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_____________________

Economy:

U.S. economy is perking up
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U.S. Recovery Now Appears Strong,
Contrary to Almost All Expectations
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Residential Construction: They Can't Build 'em Fast Enough
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__________________

Electric Car Maker Zap Files for Bankruptcy
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First Alliance Settlement OKd
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Letsbuyit launches final attempt to survive
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Japan:

Sato Kogyo files for bankruptcy
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Bitter legacy as Japanese firms lay off thousands
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Government promises to avoid bankruptcy chain reaction
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Japan flirts with a dangerous deflationary whirlpool

2 building firms want more help
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_________________

England:

A good guide to getting those bad debts paid
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Crisis talks begin at London Clubs
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Holocaust denier faces bankruptcy
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________________________

Canada:

Better Beef Ltd. takes over Stoney Creek Dairy from bankruptcy trustee
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Expiry Of Nevada Bob's Golf Inc. Creditor Protection
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_____________________

Australia:

Insurance Scandal Embroils Buffett's Firm
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__________________

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