March 5, 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:

Consultants feast on Enron carcass
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Lawyers in Enron cases look to settle within year
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Allard and Enron's ill wind
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Enron's Last Charity Ball
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Republican Party of Texas Goes After Enron Parody Web Site
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Analyst: Fired Over Enron Sell Advice
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High court upholds move to deregulate power grids
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Former Enron Staffers Organize along Racial Lines in Seeking Redress
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US derivatives bill tackles Enron-related issues

Enron seeks Court OK for Centrica buy
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Enron's Argentina Water Fight Continues
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Enron spinoff NewPower defends itself against lawsuits

Enron Subsidiary Sues Riverside County
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Developments in Enron Collapse
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Big V:

Pathmark Joins With Stop & Shop in Attempt to Purchase Big V Supermarkets
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Stop & Shop would sell Big V Stores to Pathmark
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Three Chains Vie for Rights in Supermarket Industry Battle for Power
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Strouds' liquidation confirmed
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Chiquita:

Security holders OK Chiquita Ch. 11 plan
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Chiquita could emerge from bankruptcy by March 19
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Judge to hear Suprema's liquidation request
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Diplomas come with debt

Panel, Holt Group reach deal to withdraw trustee motion
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Access to Corporate Credit in Question
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Agency files Chapter 7
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Accounting:

Rift Grows Between Andersen and Other Big Five
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Companies Can Trumpet Ebitda To Mask Their Unprofitability
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SEC Mulls Reporting, Auditing Reforms
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Buffett Says Punish Executives, Scrutinize Auditors
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Economy:

The economy is looking solid, which should improve conditions for lenders
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  The Asbestos Pit - An old issue is back, and the lawsuits are killing shares
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Formica:

Formica Corp. Files for Bankruptcy
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Formica Corporation Reaches Financing Agreement With Secured Lenders
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Guilford Mills to Seek Chapter 11,
Change Its Focus to Auto Fabrics
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NextWave:

Supreme Court takes on NextWave case
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High Court to Resolve NextWave Dispute
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NextWave Wireless Rights Draw Review
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Supreme Court Enters Nextwave Airwaves Dispute
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Supreme Court case adds to wireless delay
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Kmart:

Kmart: Official store closing list release set for March 11
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Martha mum on Kmart deal - Martha Stewart hopes for other options if Kmart's condition worsens
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Kmart Seeks Court Approval to Continue Successful Relationships With KeyBrand Partners
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Globix declares bankruptcy
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Finance and Reorganization Expert David A. Burns Joins Dewey Ballantine LLP
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Telecoms:

Logix files Chapter 11
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Global Crossing chief executive resigns from board of its Asian subsidiary
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A Class of Global Crossing Creditors Score Win That May Set Back Others
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Asset-buyer has plans for Global Crossing
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Global Crossing chief excels at making money
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Verizon to Slash Equivalent of 10,000 Jobs in 2002
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Wary telecom execs gather for annual conference
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Legal Group Seeks to Block Chinese Takeover of Global Crossing
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Williams Cos. Close to Restructuring $1.4 Billion of Debt
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Power Utilities:

The Tale of Two California Companies: SCE Rebounds
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California utility finally repays Denver
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U.S. Trustee Joe Baldi and G.E. Capital Refuse to Allow Michigan Avenue Partners To Repurchase McCook Metals at Auction Equity
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Bay City bankruptcy judge who handled Dow Corning case not reappointed
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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

US Supreme Court Closes An Often-Used Tax Loophole (Opinion in New Bankruptcy Opinions, above)
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Florsheim:

Florsheim files for bankruptcy
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Florsheim makes Chapter 11 bid, deals assets
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Weyco to acquire Florsheim assets
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Snapping Up the Spoils of Ruptured Rollups - Quite a few entrepreneurs got rich selling out to major outfits. Now, many are buying back their old businesses -- at huge discounts
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Planet Hollywood Gets More Time to Prepare Reorganization Plans
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Steel:

Promise of steel-industry aid bedevils Bush
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Proposed tariffs split steel industry
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Bush Won't Seek Bailout for Steel Retirees
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Global steel sector faces restructuring problems
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Birmingham Steel seeks Memphis buyer
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Jacobson Stores obtains financing approval from bankruptcy court
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Shareholders criticize huge break-up fee
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Houston-Based Aluminum Firm Cuts Retired Workers' Medical Benefits
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Airlines:

National Airlines receives final approval for reorganization
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Worker Ownership Plan At Airline A Loveless Marriage
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Bank One CEO had $18.2 million package in 2001
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Filings Soar in Toledo, Ohio, Bankruptcy Court
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Dramatic turn in LeisureNet saga
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Japan:

Tobishima Asks Fuji for Debt Aid,
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Korea:

Micron, Hynix ponder creditor plan
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England:

Casino firm denies debt crisis
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London Clubs hit by rescue snag talk
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Holocaust Historian Goes Bankrupt
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Canada:

Country Style franchisee challenges creditors' meeting
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