May 30, 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

         
Accounting:

Auditor thought directive meant save everything
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Andersen Keeps Chipping Away at Charges
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Andersen witnesses say saved all Enron files
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Andersen Israeli affiliate plans merger
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Strategies at Andersen's 'Yard Sale'
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Adelphia:

Ch. 11 is likely today for troubled Adelphia
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Adelphia's woes mount
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Adelphia shares down again
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Big Garage Sale
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Adelphia Shares Fall as Deadline Approaches for Debt Waiver
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Enron:

Next in scandal sequence is revenge of regulators
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Troubled Plant Involves Enron, Feds
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Dems Trying to Link Social Security Privatization to Enron
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UBS to Put Layer of Managers Above Former Enron Officials
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Newfield buys Enron-entangled EEX for stock
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Suit Shows Enron Played Hardball Even When the Stakes Were Small
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NTL Forecasts a $5.4 Billion Profit, Its First Ever, in 2002
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Standards bill proposed for asbestos lawsuits

American Classic seeks help
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Florsheim unsecureds get settlement
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Companies Gain a Death Benefit
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Latest Fuel in Analysts Probe: Self-Evaluating 'Bonus' Memos
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WavePoint Systems in Financial Difficulty
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Shawnee Hillsí bankruptcy jeopardizes jobs of those who presort Capitol mail
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  Telecoms:

DIP Dimensions: Teleglobe Inc.
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KPNQwest faces liquidation
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KPNQwest still talking to asset buyers
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Teligent reprieve may be short
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Arch Wireless out of Ch. 11
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Global Crossing goes fishing
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Bankers take aim at Teleglobe
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Halliburton:

At Halliburton, Troubles Didn't Begin With Accounting Probe
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US Securities and Exchange Commission Investigates Halliburton
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Only eight companies receive AAA debt rating
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DIVA:

Diva files prepack for Gemstar sale
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DIVA Files for Chapter 11 Reorganization
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York Research Announces Imminent Bankruptcy Proceedings; Delisting of Common Stock
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Power Utilities:

California's other power case
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Investors fear fraud in energy probe
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PUC ruling may help Nevada Power parent
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El Paso to lay off half its traders
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Dynegy's Watson may get extra $33 million
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Law Firms:

Brobeck Cadre Moves to Clifford Chance
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Clifford Chance Looks to Cut Costs at Home
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Two Big Firms Merge
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Kemper Military School to close Friday
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Jobs - 148 Jobs - Last Updated May 29, 2002
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Bankruptcy Court Web/Pacer Site Directory

California dreamin'- Bankruptcy is a national practice concentrated on the East Coast
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Letter from Delaware - Scandal and buzz
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Steel:

There's no steel in a protectionist shield
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Door opens for Republic bidders
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Airlines:

US Airways Tries to Avoid Bankruptcy
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U.S. veto of Vanguard deal puts airlines on notice
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US Airways' Siegel still hopes to secure $1 billion in loan guarantees
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Sun Country Airlines CEO David Banmiller to Leave Company
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Shareholder: Polaroid low-balling assets
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Trying Times for Tutornet
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Polymer gets DIP approval
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FTC to block Meade deal for bankrupt Celestron
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Kmart:

No Quick Fix, Kmart Executive Says
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Maybe It Was the Blue Light's Hypnotic Effect
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Kmart delays paying former execs until probe over
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Clarus Corp. may soon be liquidated, sold
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Canada:

General Publishing wins time reprieve, but no money
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Stoddart unit may have buyer
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Daewoo Canada to seek creditor protection
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Two banks diverge in quarter
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Publishers may turn another leaf for the better
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One bad loan hurts big banks
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