May 3, 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

         
PNC drops Standard trustee request
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Accounting:

Andersen partners may avoid liability
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Banks Balked as Andersen Tried to Get a Settlement
(NYT: separate free registration required)

Prosecution: Courtroom duo 'like fire and ice'
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Andersen Faces a Strong Government Case
(WSJ: separate paid subscription required)

Witnesses: Andersen warned on Baptist foundation

Top accountant slams Andersen's BFA audit
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Andersen Had Warned Foundation on Collateral
(WSJ: separate paid subscription required)

Clients keep moving . . .United Airlines, Engelhard, Elcor Corp., Team, Inc., Genesis Energy, Harrah's

SEC Proposes New Rules On 'Critical' Accounting

Ernst&Young to acquire Andersen's India operation
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FASB Releases Flurry of Publications, Awaits Reform Bill

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Burlington:

Burlington Industries deal might cut jobs
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Judge OKs sale of Burlington unit
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Telecoms:

Web of debt and fiber tangles telecom firms
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Saving WorldCom: An Impossible Dream?
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ICG cuts more positions as bankruptcy nears end
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Investors unload WorldCom bonds
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Advanced TelCom Group files for bankruptcy
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Quality Stores can liquidate
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Who Killed Dot-Com?
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Steel:

Lawmakers Push Steel Retirees Bill
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Steel tariffs may be backfiring: U.S. firms hurting
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Sun Healthcare Group Completes Sale of Two Office Buildings
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"Phoenix" investor Ross bets big in textiles
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Telecoms:

It's "Merge, Buy, or Die" in Telecom
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How Connected Are the Baby Bells?
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Bankruptcy Reform:

Martin optimistic on world debt court
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Bankruptcy bill evolves - Reform efforts likely to make process tougher
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(CT: separate free registration required)

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  CFS: A Prelude to Enron?
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Insuring Trustees Gets Costlier
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Enron:

Enron creditors to hear reorganization proposal
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Enron and the Am Law 200
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Enron wants to keep PGE
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'Enrob Report' Makes Enron Scandal Laughing Matter
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Panel of Experts Share Their Views On Business In The Post-Enron Era

Texas Consumer Groups Seek Investigation of Power Firm's Financial Status
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NewPower's viability questioned
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Corporate-Governance Bill Weighed in Wake of Enron Collapse
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Tour bus company files for bankruptcy protection
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Kmart:

Kmart warns finances worse than it thought
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Kmart may restate results
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Former Kmart managers face probe
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Kmart Says It Is Not Paying Severance to Some Former Executives
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Polaroid:

Trustee objects to Polaroid sale
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Hawaii: Brodieís sold to lender
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ITS Completes Sale of Commercial Security Business
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Adelphia Communications Announces Likely Restatement
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Lason:

Lason Announces Approval of Its Plan of Reorganization; Projected Emergence from Chapter 11
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Lason to bolt bankruptcy June 30
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Weyco gets Florsheim assets
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Health Agencies Scramble for Clients of Bankrupt Agency
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Power Utilities:

Chapter 11 going well for PG&E
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State PUCís new giveaway for PG&E
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PG&E profit rises as power prices fall
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Precision sold to former owner
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Fate of North Country mills plays out in NYC
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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

Southfield lawyer tops bankruptcy trustees
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Law Firms:

Paul Hastings Acquires 100-Lawyer Hong Kong Firm
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Brobeck does more layoffs
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Wilson Sonsini Alters Partner Compensation Scheme - "Eat What You Kill" Modified
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Milbank Takes First Contingency Case
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Holland & Knight said to have laid off 30 in Hub
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Teresi gets bankrupt Easyriders
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Zilog says it's on track to exit bankruptcy within next 10 days
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They're Betting the Bank on a Comeback at J.P. Morgan
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Bankruptcy? Not So Fast
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Evergreen's owner pleads guilty, faces 18 years for Ponzi scheme
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Bankruptcies up for public firms
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England:

NTL's $10,6bn corporate bond default beats Enron's
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Telewest cuts 1,500 jobs
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Merchant Banker Bankrupt For 3500 Pounds
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Bankruptcy expert moves up
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Bad day at the office over cash slip-up
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Canada:

"Catastrophe" is an utterly appropriate word': Publishers eye fallout
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Local bookstores stock new troubles
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Local publishers face cash crunch
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Japan:

Japan's first steps on a long journey
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Izumi offers to rebuild Mycal
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Australia:

Moving on the Packer women
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Argentina:

Growing Crisis Leaves Argentines Feeling Helpless
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