May 2, 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:

Bank Interest: Bankruptcy Reform Looms
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Experts Fear Bankruptcy Reform Efforts May Stack Deck against Consumer Debtors
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Members meet on Schumer amendment, no resolution
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Martin Sees Accord Soon on International Bankruptcy
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Bankruptcy and Abortion
(WSJ: separate paid subscription required)

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DIP dimensions: NationsRent Inc. - Some debtor-in-possession financings carry a defensive attraction for pre-petition lenders
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Industry in Distress: Auto parts makers
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Kmart:

Kmart Will Delay 10-k, May Restate
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Kmart Slides as Restatement Looms
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Bluelight Special On E-mail
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Letter from Delaware: Executive bargaining
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DHL to Get $100 Million Tax Refund
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Foster Wheeler:

Foster Wheeler gets extension
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Foster Wheeler Bondholders Await Creditor Negotiations
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Accounting:

Andersen U.K. Bankruptcy Unit Picks Ernst & Young Over Deloitte
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Trouble at Worldcom Brings More Unwanted Attention to Andersen
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Andersen Trial in Phoenix Opens With Views on Fraud
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SEC to consider new accounting rules
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Andersen Turns Away New Recruits
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Andersen trial hears planner
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No Solution in Andersen Suit Talks
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Statement From Arthur Andersen, LLP
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Andersen trial scuttles hope of real reform
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The KPMG-Andersen link-up will lead to even greater concentration among the large accountancy firms
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Bill would rein in accounting standards body
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Scandals shred investors' faith
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Survey Shows Banks Are Addressing Predatory Loan Issues
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Analysts: Credibility crisis
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Polaroid:

Polaroid creditors blast settlement
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Polaroid sale gets negative reaction: Creditors cry foul in bankruptcy bid   

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  Law Firms:

More Layoffs at Brobeck - Brobeck Cuts 35 Lawyers, 24 Staff in Latest Layoff
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Layoffs at Florida's Holland & Knight
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Tallahassee, Fla.-Based Law Firm Cuts 30 Staff, Attorneys in Its Boston Office
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Wachtell for Sale on eBay
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Cleveland's Thompson Hine Acquires NY's Gould & Wilkie
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Pillowtex reorganization plan OK'd
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Not That Anyone Likes A Recession, But...
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Liquidation diet - As bankruptcies proliferate, disposing of the inventories and assets involved in many of them has grown into a $25 billion business
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Shawnee Hills declares bankruptcy
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Giving the Boot To Phony Financial Advice
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Finding Board Directors a Problem
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Inter Parfums gets bankruptcy court approval to buy Tristar assets
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Telecoms:

Bernie's Big Bill
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WorldCom beating Qwest to bottom
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Metrocall Delays Filing
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U.S. Telemetry seeks protection, cites fees
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Telecom Problems to Continue
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A downbeat end to a remarkable career
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Questions persist whether WorldCom can survive
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Icahn reveals more about XO offer
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PG&E Corp. Reports First Quarter Financial Results
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Florida's Hyatt Orlando Files for Bankruptcy Protection
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Airlines:

National in red for February - Federal loan application to go in this week
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Bidding intensifies for Casual Male: Retailer's price tops $137M

Chaos takes toll on CEOs
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Court extends Ha-Lo DIP pact
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Alaska: Guardian agency nears bankruptcy, judge told

Bankrupt Sheldahl will sell assets
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NTL's Cabelcom continues talks with creditors, no bankruptcy in sight
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NASD Looks to Tighten Up Rules For 'Expunging' Broker Missteps
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Buyers of FiberCom assets hope to restore profitability
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Bankruptcy Judge Approves Sale of San Antonio, Texas, Aircraft Maintenance Firm
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Jobs - 143 Jobs - Last Updated May 1, 2002
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Bankruptcy Court Web/Pacer Site Directory

Enron:

Ever increasing circles: Litigation is spreading to Enron's more distant defendants
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Federal judge puts brakes on state case against Andersen
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Draft Proposal to Creditors Envisions a Smaller Enron Focused on Hard Assets
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Enron Will Try to Reorganize Itself As a Small Firm With a New Name
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Judgment Day - What ethical lessons can company lawyers learn from the Enron scandal?
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Playboy's Enron issue on newsstands July 1
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Furnishings With an Enron Connection
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Chapter 13 to Cloud 9
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Canada:

Canadian book empire gets help
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'Catastrophe' hits book industry
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Struggling Canadian Publisher Looks to Restructure
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Debts pound Stoddart's book empire
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Buyers surface for Stoddart empire: Consultants say talks continuing
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Argentina:

Rebuilding Argentina
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Japan:

Tough new tactics scare debtors
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Little time left to clean up the bad-loan crisis
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Banks ignore debt-waiver guidelines for bailouts
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Ireland:

'Multi-millionaire bankrupt' strikes 3m Revenue deal
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England:

World of credit derivatives faces its biggest test
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Time to come clean on the big pensions problem
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Crown Castle Updates Potential Impact of ITV Digital Liquidation
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Crofter's action makes banker bankrupt
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Bankruptcy increase is a warning
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Korea:

South Korea rules out new bail-out for Hynix
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France:

French business bankruptcies increase in first quarter
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