May 13, 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 rewriting Chapter 11 with unique reorganization
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You can sell Enron, take write-off
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Enronitis and other ills
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Enron Inquiry Now Focusing on Valuations
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Dynegy taking it on chin
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Endowed By Enron
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With Markets Flawed, Enron's Tactics May Live On
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Demand is up for one very specialized kind of bureaucrat
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The Enron Effect - Two companies' alleged misdeeds make waves in a whole sea of services
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Welcome to the Hotel Kenneth Laya

The Whole Story? Corporate Annual Reports Still Aren't the Open Books The SEC Says They Should Be in the Post-Enron Era
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Reliant Resources Halts Bond Offering, Reviews Trades
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Provell declares bankruptcy
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Penthouse: the very real prospect of being driven to bankruptcy?

Accounting:

Andersen Defense Dealt Setback, as Judge Grants Motion to Quash Subpoenas
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Competing Firm Openly Woos Andersen Partners
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Andersen judge rejects defense move
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Accounting firms regaining clout - Lobbying efforts rebuilding after sullying of Andersen scandal
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Roles of lawyers, CPAs different even if some comingling exists
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AICPA Issues Guide for Taking on New Audit Clients

Entering a 'Community of Pain'
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Andersen's Former Enron Auditor Duncan to Testify at Trial
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Document Destruction a Focal Point of Andersen Trial's First Week
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Disgraced Enron auditor got big bonus
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Rent-To-Own Battles Accounting Woes
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Jurors decide who is to blame in Andersen trial
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KPMG to Hire Ex-Andersen Employees
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Island Tax Haven May Aid Pritzkers
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Court told of Andersen team's 'rogue' role
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Andersen's fallout means opportunities for smaller competitors
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Andersen trial judge evidence history my not fly on appeal
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Andersen Lawyer Temple Refuses to Testify at Trial
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S&P to Change Its Methodology for Calculating Operating Profit
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Andersen Partner Recounts Advice to Destroy Drafts
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Pricewaterhouse Mulls Options for Restructuring Unit?
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Shredding not ordered, Andersen workers say
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Andersen Keeps Shriveling
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Significance of Duncan grows with trial
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Clients moving: NUI Corp., The Alpine Group, Superior Telecom, AIM 84, AIM 88, AIM 85, AIM 86, CB&L Assoc.
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Partner says he was never instructed to shred documents
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Andersen witness denies fraudulent accounting
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Enron Creditors Seek To Examine Andersen's Asset Sales
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Verbal Warfare In Arthur Andersen Trial
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Philadelphia: Hospital hopes to reorganize
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New college grads face crash course in debt
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Cancer Treatment Firm Gets Hearing Date for Plan
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CoServ's Main Creditor Agrees to Settlement
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Tightening of loan rules on the wane
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Kmart:

Kmart reshuffles executives, cuts 12 management jobs
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Kmart reviews credits
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Kmart Revamping Again
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Retailer Deals for Cash Back From Suppliers Draw Attention
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LifeFX declares bankruptcy
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Trust is the key to open markets
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Pow! Corporate Raiders Meet Superheroes
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Slowly digging out
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  Airlines:

US Airways to seek federal aid
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US Airways, United warn of bankruptcy without concessions
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US Airways to Seek Loan Guarantee, Consider Options
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A Wing & A Prayer
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US airlines in rush to gain taxpayer support
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US Airways Warns of Chapter 11
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US Airways seeks talks with unions about cuts
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US Airways: Small planes 

US Airways Warns Bankruptcy Protection Filing Possible without Concessions
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Bankrupt Las Vegas-Based Airline Formally Files for Federally Backed Loan
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Peregrine accused of 'looting' unit
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Trump Still Trying to Talk Bondholders Into Buying Casino Debt
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Evergreen:

Evergreen Security Brokers Sued By Bankruptcy Trustee
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Trustee in Florida's Biggest Consumer Fraud Case Sues over Commissions
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When tech companies fail, good ideas still remain
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Bid for Kellstrom grows to $101M
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Power Utilities:

California memos may open a Pandora's box for Enron
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California Utility Commission to Flesh Out PG&E Plan
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Trade Disclosures Shake Faith In Troubled Energy Markets
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An indictment of Enron
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Federal Power Regulators Were Told of Price Schemes in 1999
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Memos could be devastating
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PSE Promises Investigation Into Its Power Sales with Enron
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Andersen lawyer sets up motive for witness
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Enron memos revive utilities' refund claims
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Enron Fallout Continues in Calif.
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Regulation, the Cure for Energy Ills, Is Coming
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Mystery of Enron and California's Power Crisis
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TeleSpectrum swaps debt - A recapitalization helps the battered company avoid bankruptcy
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Bankruptcy specialists discuss Baptist Foundation
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Jacobson Stores seeking to stay in single piece
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Ocean Journey:

Aquarium creditors seek expert help
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Aquarium Executives Dispute Denver's $376,000 Unpaid Tax Claim
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Chairman of Fas Mart Convenience Stores Resigns
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AppliedTheory gets OK for asset auction
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Judge Rejects Executive Life / Credit Lyonnais Suit
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Gliatech to sell biosurgery products unit
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5 states sue Vatican alleging Frankel insurance fraud
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Polaroid:

Creditors to file own Polaroid reorganization plan
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Creditors eye plan to run Polaroid
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Goldman Industrial units to be bought
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Hawaii: Foreclosure ruse claims isle victims
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Steel:

Another Steelmaker Facing Bankruptcy
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Company Looks to Buy Bankrupt Steel Processing Facility in Chattanooga, Tenn.
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Steel industry health coverage still in the works
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From bankrupt to bank-backed
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Boundless Working to Settle Its Debts
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ANC Wins Bankruptcy-Court Approval To Join Rental-Car Lines at 16 Airports
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Portland: Credit issues send TVBS into bankruptcy court
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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

Bankruptcy Lawyers On Best Lawyers Under 40 in Dallas List
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Bankruptcy Cases in Murky Waters - Creditors' Cases Raise Questions
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Spitzer, Merrill far from settlement
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NTL faces bonuses fury
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Law Firms:

Summer Slide
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Sonnenschein Set to Acquire New York's RubinBaum
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Law of gravity pulls down Brobeck: Firm's elemental changes may signal ex-chief's departure
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Leading national law firm retreats from Seattle
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Bill Clinton Still Owes Skadden $1 Million
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New US Leader for Freshfields
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Telecoms:

WorldCom to declare bankruptcy?
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Williams Bondholders Seek Subpoena Power
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Investors ask what happened
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Data center a casualty of Teleglobe troubles
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Telus hangs up on international Teleglobe connection
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WorldCom on the ropes
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Qwest Troubles Worry Employees
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From Nextel's Report, More Questions Than Answers
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Telecoms Sued, Feds Prodded
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Bankruptcies are climbing - Business cases up 43 percent
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Court delays trial of Bibelot owners
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California Officials Face Unprecedented Budget Gap
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J.L. Holloway Resigns as Chairman of Friede Goldman
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HMO Illinois contract in jeopardy - 18,000 patients in bankruptcy judge's hands

Bill Erpenbeck arrested on bad check charge
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Tech school closure affecting hundreds - Bankruptcy: Plan sends clients elsewhere
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Canada:

ATTC calls bondholders suit "groundless"
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Native children entered new world in church-run schools
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B.C. 'bank' laundered drug money
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Long-running bankruptcy finally settled
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Germany:

Creditors to buy Kirch stake
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Poland:

Dream of a 'Chapter 11' style bankruptcy law may encounter harsh political reality
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Elektrim agreement reached on bonds
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England:

Rail operators 'could face bankruptcy'
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Who on earth would want to run the trains after this?

Train firms on brink after crash
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Japan:

Japan's Rural Towns Struggle as Government Funds, Jobs, Dry Up
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Consultant busy saving smaller companies
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Profits fall at consumer lenders
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China:

New Bankruptcy Law Drafted
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Argentina:

Argentina, with general strike looming, debates IMF conditions
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Half of Argentines below poverty line
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Argentine parliament amends bankruptcy act
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Argentina's Downward Spiral Leads To Boom for Roiled Nation's Lawyers
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France:

Premiere Impression files for bankruptcy
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