March 7, 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:

Enron Fall Guy? - What Happens when Andy Fastow Starts Fighting Back
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Boss' order to shred defended; Andersen aide boosts ex-auditor
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Enron finalizes deal on tax records - Information to be released to Senate Finance Committee
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Enron Agrees to Reveal Tax Returns,
But Doesn't Pledge to Divulge Advice
(WSJ: separate paid subscription required)

Lawyers work on Enron disclosure rules
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Enron chief considers law suits to recover cash: Cooper expects litigation to be an additional source of funds
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Congress Seeks Banks' Files on Enron
(WSJ: separate paid subscription required)

Qwest-Enron Deal Puts Swaps Back in Spotlight
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Bush to put CEOs on notice - Executives could lose bonuses under 10-point plan to improve disclosure
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What Post-Enron Proposals Will Stick?
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Committee widens its probe: Did Enron pressure banks?
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Enron utility sale could be canceled
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Enron's Off-The-Book Casualty: Freedom
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Another Enron victim, the arts in Houston
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Enron CEO pledges to pursue more severance
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Traders Ignore J.P. Morgan's Enron Setback
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US House leaders seek Wall Street firms' Enron records

New Enron CEO Cooper Sees Rebirth
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J.P. Morgan Enron Case Proceeds
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Senators admonish secretary of Army over Enron holdings
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Steel:

National Steel falls into bankruptcy
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National Steel seeks protection - Files for Chapter 11 bankruptcy, struggles with competition
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National Steel Files for Bankruptcy, Cites Low Prices
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Steel groups ponder effects of US tariffs
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Trade relief too late for National Steel
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European steel makers are dealt a double blow 

Steel Tariffs Will Bring Price Hikes
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Steel's Last-Minute Pardon
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Slick Willy tactics are back
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Steel firms mull merger to survive
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U.S. faces world steel war
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Steel Cos. Say Tariffs Not Enough
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  Kmart:

Kmart gets access to full $2B DIP
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Kmart Wins Judge's Permission to Tap $2 Billion Loan
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Kmart Attorney: Closings Coming Soon
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Martha Stewart might be browsing
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Kmart managers could get extra pay
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Kmart workers get $150 million to stay
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Kmart CEO Hit by Class-Action Suit
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Telecoms:

Billionaire Gores Brothers May Joust Again Over Global Crossing
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A Fat Wallet at a Fire Sale - Buying the assets of bankrupt players for a song
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Platinum Equity enters Global sweepstakes
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Global Crossing Sues XO to Restore Service
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Second bid for Global Crossing - Buyout firm Platinum Equity plans to make an offer for the bankrupt telecom company
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Williams gets extension on talks with banks
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Global Crossing's future still up in the air
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McLeod sells CapRock unit
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Troubled Holt Group fends off move to put trustee in charge
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Law Firm Restructuring:

Valley Firm Cut Associates & Profits Rose
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15 Reed Smith Partners Lose Equity Stakes
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How to Recover From the Recession
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Despite Enron, Structured Finance Practices Remain Strong
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Major UK Firms Talking Merger
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Greate Bay Casino can sell unit
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Retail ATMs Said Losing Money, But Still Find Fans
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Power Utilities:

Pacific Gas And Electric Company Seeks Court Approval To Pay Certain Pre-Petition Claims
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PG&E defends inclusion of headroom in 2002 outlook
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Deutsche Banc cuts PG&E estimate
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Ziff Davis Reports Record Loss; Loans Loom
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Conseco CFO quits as debt ratings may be slashed
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Creditor opposes confirmation of IBeam plan
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Judge to let sale proceed on assets of McCook Metals
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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

Prepacks: Smoothing the way
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DIP Dimensions: Sunbeam Corp. - Sunbeam's controversial relationship with its debtor-in-possession lenders
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Bankrutpcy Reform:

Conference Committee Might Meet Next Week

____________________

Letter from Delaware- Asbestos, Federal-Mogul, Fruit of the Loom, Enron, Coyne
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Bankruptcy Leaves Chickens Without Food; Georgia Ag Department Assists in Disposal of Hens
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Accounting:

Gramm gets behind stronger accounting oversight
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Big Five Firms Stalled on Reviews, Oversight Board Chairman Warns
(WSJ: separate paid subscription required)

Ford drops Andersen
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Senate Panel Seeks Legislation
To Overhaul Auditing Practices
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Andersen Dropped as Auditor by Freddie Mac
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Support in Congress widens for new US accounting boss
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_____________________

Chicago court approves Florsheim DIP
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PSINet seeks approval of $7M asset sale to Cogent
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LighTrade Files For Chapter 7 Liquidation
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WaMu, PNC in court over mortgage sale
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Boise advertising agency gets approval for bankruptcy plan
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Canada:

Group opposes Country Style bankruptcy plan - Franchisees say company was less than forthcoming
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Actors finally get Livent pay four years later: 163 collect $157,200
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Japan:

NKK Widens Loss Forecast as U.S. Unit Goes Bankrupt
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Japanese steelmakers warn of heavier losses
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'Bridge bank' savior of troubled banks
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______________________

Russia:

Russia's westernmost region threatened with bankruptcy over unpaid debts
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____________________

Israel:

Insurance supervisor warns pension funds could go bankrupt
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__________________

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