May 17, 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

         
HVB Group, KBC Bank Seek Assets in $600 Mln Bank Scam
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Piscataway to London: Execs in Metals-Trading Scam Lived Large
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Kmart:

FBI investigates Kmart
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FBI probe could provide setback to Kmart as it tries to emerge from bankruptcy
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FBI Says It's Consulting With U.S. Attorney in Kmart Investigation
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Kmart Says May Seek Recovery Of Loans To Former Execs
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Kmart Says Most Of 1Q's $600M-$800M Writedown Non-Cash
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Court OKs Questor allocations
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Enron:

Enron attorney documents his love with a ring
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Miami's Baena May Get Another Shot at Enron
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Enron To Examine Parent-Unit Consolidation Issue
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Northwest Natural cancels PGE buy
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Post-Enron Reform Fight Takes Shape in Congress
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Lay told big shareholder all fine just before collapse
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Judge tells Enron to pay more than dlrs 200,000 in legal bills for whistle-blower Watkins
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Tom DeLay and Enron
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PGE Sale Nixed, May Boost Enron Plan
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How Enron Fooled Us All
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Duke: Enron claims may exceed $43M
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Payment approved for Watkins' lawyers
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Lenders look to restart Dabhol
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Enron: it's `an integrity issue'
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Filings for personal bankruptcy hit record high
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Sterling units draw interest
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Power Utilities:

'Voters' guide' OK'd for PG&E bankruptcy
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2 Reliant traders quit in wake of disclosures
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Imprison Enron chiefs, California's Davis urges
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Enron's Role in California Is Investigated by U.S.
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Energy Traders Paying for Market's Design Flaws
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Napster:

Napster Execs Gone, Bankruptcy 'Imminent'
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Musical Chairs - GC out, copyright infringement litigation uncertain as Napster deal falls apart
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Two More Lawyers Targeted in Evergreen Scam Probe
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  Recession's Legacy: A Record Number Of Bankruptcies
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Steel:

Trade Bill Stalls Over Steel Benefits
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Law Firms:

Crosby, Heafey Says It's Ready to Date
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Brobeck Team Won't Move To Clifford Chance
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Fried Frank in UK Merger Talks
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2001 in Law Firms: Not as Bad as You'd Think
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Banks exposed on Adelphia
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APW files pre-pack bankruptcy
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Accounting:

Attorney for Andersen, judge have verbal brawl
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Andersen hoped to double income from Enron
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Ernst & Young buys Andersen's Chesapeake practice
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Duncan Provides Controversial Testimony

Andersen audit losses soar to 451 for year _ 20 percent of public clients
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Ex-Andersen partner acknowledges sensitive records kept; judge storms off bench
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Enron auditor kept 'smoking gun' memo

SEC widens accounting investigation
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Business Roundtable Addresses Audits, Whistle-Blowing

Duncan says he warned Enron
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IASB Proposes Sweeping Improvements in Standards

Outsourced Internal Audit Services and the Perception of Auditor Independence
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Defense: Andersen saved documents
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Andersen lawyers try to prove fired auditor is innocent
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Phar-Mor unsecureds OK Snyders bid
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Pitt-Corning agrees to settle
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Comdisco Files Reorganization Plan
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The fixer
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Adelphia:

Federal Prosecutors Probe Adelphia on Its Accounting
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Adelphia Misses Bond Payments; Nasdaq Reviews Listing
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Coram delays filing
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Bankruptcy Reform:

NY Sen: Abortion Provision May Scuttle Bankruptcy Bill
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Boston: Alliant Medical files for Ch. 7 protection
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New Bankruptcy Opinions
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Bankruptcy Jobs - 143 Jobs - Last updated May 14, 2002
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Bankruptcy Court Web/Pacer Site Directory

Attorney fears bankruptcy as patients opt out of settlement against Sulzer

Airlines:

When miles vanish along with the airline
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US Airways' survival plan calls for huge cuts in labor costs 

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Telecoms:

Teleglobe in bankruptcy protection
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What the visionaries saw was a mirage
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Teleglobe could sell off LatAm ops
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Not biggest flameout in history
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Company will revert to long-distance roots
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Metromedia closer to bankruptcy
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Adelphia's woes threaten telecom unit
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WorldCom ex-CEO to get $1.5M a year
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NextWave: Lawmakers: Let carriers off the hook
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Marconi mulls debt-for-equity swap
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Sterling Chemicals to split
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Credit-Card Firms Turn on the Charm
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The Basics of Bankruptcy Protection
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Weiner's Stores Wins Approval Of Liquidation Plan
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Creditors Challenge Planet Hollywood's Bankruptcy Plan
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Mineola's Infinite Goes Chapter 11
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Scotland:

Lawyers’ blunder costs Kirk minister his flat
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Argentina:

IMF gives Argentina loan extension
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Japan:

Japan's banking challenge
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Corporate failures rack up 1.48 trillion yen in liabilities
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Canada:

New Skeena boss looking for union concessions
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England:

Bradford goes into administration
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