May 10, 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

         
Bankruptcy Reform:

Bankruptcy Talks Collapse on Abortion Issue
(NYT: separate free registration required)

Card sharks
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Retroactive Chapter12 Legislation Sent to President

Battle Over Bankruptcy Reforms

Pro-Life Protesters' Misuse of Bankruptcy Laws
(WSJ: separate paid subscription required)

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CFC and CoServ Agree to Settle Bankruptcy Case
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Daewoo's U.S. Sales Arm to File for Bankruptcy, Official Says
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Enron:

Report: grand jury investigating Enron deal, expense records
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With Warning on Enron, a Celebrity Is Born
(NYT: separate free registration required)

Cozy Enron-Andersen ties lead to disaster
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Memos Analyzing Enron May Make Oregon Law Firm Vulnerable to Liability Claims
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Nevada may have paid price for Enron's dealings
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Half of Enron space vacated now leased
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Enron Watch: Week of May 6
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Airlines:

Canada 3000 creditors can't seize planes
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Power Utilities:

California Eyes Suit against Enron
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Senate eager to hear from memo writers
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CPUC to flesh out PG&E plan
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Daschle says: 'Somebody ought to go to jail'
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Adelphia cable units are cash cow
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The Big Nasty
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S&P to rank top 500 firms on disclosure

Court Orders Asbestos Property Damage Claims and Other Claims to Be Filed in the W.R. Grace Bankruptcy
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Airlines:

Bankruptcy Court Confirms Fine Air Reorganization Plan;
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Airlines Ask Congress to Keep $15 Billion Bailout Program Intact
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Kmart:

Kmart's Review of Accounting Finds Issues With Vendor Credits
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Kmart CFO Calls 2003 Emergence From Chap. 11 'Aggressive'
(WSJ: separate paid subscription required)  

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NTL:

NTL's $23 billion bankruptcy exceeds Enron's
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Stricken NTL plans new option scheme

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BMK says Sun Capital deal on track
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  Taking that late-Friday call
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Accounting:

Andersen partner recalls concerns
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Andersen Now Claims Shredding Of Documents Wasn't Improper
(WSJ: separate paid subscription required)

The phone call had an unexpected urgency
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Duncan spotted but will he testify?
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An Andersen Aria
(WSJ: separate paid subscription required)

Tensions Flare at Trial of Andersen
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Partner Barred From Advising Enron
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Company Audit Panels Admit Lack of Expertise
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Andersen wants no monitoring of its assets sales
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Enron Accounting Sparked Debates at Andersen
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Enron ignored Andersen's reporting advice, court told

Andersen Partner: Duncan Pushed Rules
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Andersen Partner Says He Deleted Enron E-Mails
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'Duncan acted against advice of Andersen's standards unit'

Andersen warned staff of Enron deal
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Part of Salt Lake City Andersen Is Sold
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Andersen Partner Saw Enron Special-Purpose Entities Plan as 'Terrible Idea'
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More Andersen Partners Testify for the Prosecution

CRIIMI MAE Dismisses Arthur Andersen
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Lear Corporation Replaces AA
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Attorneys for Andersen allege prosecutor threatened witness
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Lawyer: Assets Sale Key to Andersen
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Enron VP expressed worry in August, friend testifies

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Provell, Inc. Files for Chapter 11 Reorganization
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Telecoms:

SEC Probes Global Crossing's Swaps in Interviews With Firm's Salespeople
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Lawyers Seek to Probe Williams Communications' Financial Transactions
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Williams Communications Creditors Want Spinoff Probe
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Credit Rating of WorldCom Is Cut to Junk
(NYT: separate free registration required)

WorldCom gets waiver from lenders
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Washington, D.C., Nonprofit Organization Sues Bankrupt Telecommunications Firm
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AT&T Canada's board in trouble
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Teleglobe International's survival in doubt
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Telecom Firm WINfirst Facing Creditors' Shutdown Attempt
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Williams not interested in GlobalAxxess bid
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Nortel faces crunch time
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Viatel set to exit Chapter 11
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Jobs - 150 Jobs - Last Updated May 8, 2002
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Bankruptcy Court Web/Pacer Site Directory

Exide:

Exide Technologies Files Suit Against Former Management
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Exide's DIP loan approved
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DDR venture handles Service Merchandise stores
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NY Bar Exam Pass Rate Hits 11-Year Low
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Reviving dark space
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Atlantic Gulf avoids Ch 7
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Dynegy Forced to Back Deals with Credit
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Steel:

Arcelor, BethSteel mum on deal talks
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Bethlehem Steel in Partner Talks
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Special Metals Announces Agreement With USWA
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Metal Fabricating Unit of Cleveland-Based LTV Corp. Weighs Independent Status
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Fast track trade bill screeches to a halt
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New Jersey Developer Makes Down Payment on Bankrupt Tampa, Fla.-Area Resort
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Biotech Co. Gliatech Files for Ch. 11
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Komag Announces Confirmation of Its Plan of Reorganization
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PC Mall Angles for Bankrupt Wareforce Assets
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AEI Resources completes makeover
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Asbestos suit costs a huge variable for USG 

Deferiet Mill Rises From Bankruptcy and Reopens this Month
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Bankruptcy looming for World Cup pay-TV arm
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Argentina

Argentina defies IMF law change
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Argentina Political Squabbling Threatens Reforms
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Korea:

Korean Government Hires Goldman for Sale of SeoulBank
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Hynix board agrees to sell chipmaker
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Japan:

Repaying an old debt
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Next Big Economic Shock Could Come from Japan
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Japan's Sumikura Industrial Fails
(WSJ: separate paid subscription required)

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Poland:

Sex, Lies and Bankruptcy
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Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C.  You can reach us at 281-242-6208 or at admin@bkinformation.com