May 31, 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

         
Adelphia:

Lenders Grant Adelphia Time to Repay $7B Debt
(DBN Subscription Required)

Adelphia DIP back up for grabs
(DBN Subscription Required)

Adelphia Is Rushing To Sell Assets
(DBN Subscription Required)

Paul Allen cut out of deal dance with Adelphia
(DBN Subscription Required)

Animosities Flare in the Struggle Over Adelphia
(NYT: separate free registration required)

Adelphia Delisted; Director Opposes Quick Asset Sales
(DBN Subscription Required)

Ch. 11 Is Likely Today For Troubled Adelphia
(DBN Subscription Required)

Adelphia Responds to Leonard Tow's SEC Filing
(DBN Subscription Required)

Adelphia Denies Immediate Sale of Assets
(DBN Subscription Required)

______________________

Home@bidder-sweet Bargain
(DBN Subscription Required)

Steel:

KPS may bolt from Republic auction
(DBN Subscription Required)

Republic bidders get time to study
(DBN Subscription Required)

Nucor casts Birmingham Steel deal
(DBN Subscription Required)

Nucor Agrees to Buy Birmingham Steel
(DBN Subscription Required)

Birmingham Steel will file bankruptcy as Nucor buys company
(DBN Subscription Required)

Fansteel gets $13.1 million line of credit

U.S. Feels the Pain of Steel Tariffs As Prices Rise, Supply Is Reduced
(WSJ: separate paid subscription required)

_______________________

Burlington Get Final Approval to Sell
(DBN Subscription Required)

Accounting:

Judge Allows Suit against Deloitte & Touche over Heilig-Meyers Audit
(DBN Subscription Required)

Andersen Strategy Backfires
(WSJ: separate paid subscription required)

Andersen defense targets timing of actions
(DBN Subscription Required)

90 Arthur Andersen Professionals Join Navigant Consulting
(DBN Subscription Required)

SEC looking into Halliburton's revenue booking for projects
(DBN Subscription Required)

Strategies at Andersen's 'Yard Sale'
(WSJ: separate paid subscription required)

Andersen trial likely to stretch into next week
(DBN Subscription Required)

SEC Talks Tough on Changes in Store for FASB

SEC's Dynegy Probe Hits Citigroup
(WSJ: separate paid subscription required)

Andersen partner says destroying records routine
(DBN Subscription Required)

Bookkeeping Errors Contribute to $17.3 Billion Federal Loss

________________________

ESNI Files Chapter 11 and Will Pursue Claims Against CRC
(DBN Subscription Required)

Fraud Target: ATMs - Millions Stolen From Rigged Machines
(DBN Subscription Required)

Gladstone Capital Assures Shareholders That the Standard & Poor's Report of Bankruptcy is Not Correct
(DBN Subscription Required)

Conseco Irked by Moody's Downgrade
(DBN Subscription Required)

Kmart:

Shoppers cash in on Kmart store's end
(DBN Subscription Required)

New Evidence Relates to Kmart's Accounting Irregularities

Legal help opposed for Kmart board
(DBN Subscription Required)  

___________________________

The No-Equity Loan Trap
(DBN Subscription Required)

Saybrook Capital to Review Desert Hot Springs' Books
(DBN Subscription Required)

Medica approves settlement in U.S. implant case
(DBN Subscription Required)

Financial Database To Screen Accounts
(DBN Subscription Required)

  Enron:

Enron Tax Transactions Under Review by IRS
(DBN Subscription Required)

Enron reverses field, will pay plan manager fees
(DBN Subscription Required)

In-house Andersen adviser 'bothered' by instruction
(DBN Subscription Required)

Credit Suisse CEO: CSFB Behaved Responsibly In Enron Work
(WSJ: separate paid subscription required)

Enronitis Infects 1 On Board
(DBN Subscription Required)

Former Exelon co-CEO becomes Enron director
(DBN Subscription Required)

Nymex is boosted by Enron backlash
(DBN Subscription Required)

Enron Names Two New Members to Board
(DBN Subscription Required)

Andersen Partner Says He Wasn't Aware of Retention Rules Until Autumn
(DBN Subscription Required)

Ex-Andersen Accountants Deny Plot
(DBN Subscription Required)

Bloody Monday
(DBN Subscription Required)

_____________________

Law Firms:

Snow Started Courtship of London Firm
(DBN Subscription Required)

Tower Snow joins Clifford Chance
(DBN Subscription Required)

Snow falls into new law firm
(DBN Subscription Required)

Bingham Dana, McCutchen merge
(DBN Subscription Required)

McCutchen Joins the Big Leagues
(DBN Subscription Required)

Freshfields Headhunting in DC
(DBN Subscription Required)

Mergers Create Two National Mega-Law Firms
(DBN Subscription Required)

Dechert's Summer Associates Embark on Overseas Journey - Firm hosts trip to London for its seasonal help
(DBN Subscription Required)

The British Are Coming! - Brobeck cadre moves to Clifford Chance
(DBN Subscription Required)

Bingham, McCutchen merger announced
(DBN Subscription Required)

Bingham may grow to 800 lawyers
(DBN Subscription Required)

_____________________

Telecoms:

Telco Junkyard
(DBN Subscription Required)

J. P. Morgan Cited in Failure of a Global Crossing Bid
(NYT: separate free registration required)

KPNQwest warns customers to make 'contingency plans'
(DBN Subscription Required)

KPNQwest says Belgian arm to file for bankruptcy
(DBN Subscription Required)

KPNQwest Is to Announce Bankruptcy of All Its Units
(WSJ: separate paid subscription required)

KPNQwest network faces meltdown
(DBN Subscription Required)

AT& T Mulls KPNQwest Assets Buy
(NYT: separate free registration required)

Purple Communications Sets Asia Global Crossing Bid
(DBN Subscription Required)

Williams Communications Creditors to Probe Spinoff
(DBN Subscription Required)

Arch quits bankruptcy protection
(DBN Subscription Required)

CoServ Telecom Holdings, L.P. Secures DIP Financing
(DBN Subscription Required)

Analyst Grubman Helped Call Shots at Global Crossing, Touted Its Stock
(DBN Subscription Required)

AGC early bidding down to wire
(DBN Subscription Required)

France Telecom: Loan Talks Ongoing
(DBN Subscription Required)

Ohio Firm Buys Bankrupt Start-Up Aleron
(DBN Subscription Required)

______________________

 

New Bankruptcy Opinions
(3 new opinions today)

Bankruptcy Jobs - 148 Jobs - Last Updated May 29, 2002
(DBN Subscription Required)

Bankruptcy Court Web/Pacer Site Directory

Airlines:

National Airlines seeks federal help
(DBN Subscription Required)

US Airways to Add Subsidiary Airline
(DBN Subscription Required)

Rock and hard place for US Airways

Cost Cuts and Possibly Bankruptcy Are Necessary, US Airways' New Boss Says
(DBN Subscription Required)

Strike leads to shutdown of Irish airline: Bankruptcy looms as sides OK talks

_______________________

Record bankruptcy filings aren't overwhelming courts
(DBN Subscription Required)

Former NationsRent Owners Prepare Alternate Plan
(DBN Subscription Required)

Former Keystone bank executive sentenced to 27 years - Also told to repay more than $800 million - "more Ponzi scheme than bank"
(DBN Subscription Required)

Power Utilities:

TransAlta says moved power outside Calif for profit
(DBN Subscription Required)

FERC won't expand power refund
(DBN Subscription Required)

Moody's Warns Energy Traders About Risks to Credit Ratings
(WSJ: separate paid subscription required)

_____________________

Allstate says no insurance if credit bad - Homeowners to be denied new policies
(DBN Subscription Required)

Polaroid retirees want $222M
(DBN Subscription Required)

USi Emerges from Chapter 11 — With Attitude
(DBN Subscription Required)

Farmland:

Farmland workers paid early
(DBN Subscription Required)

Smithfield Foods Renews Bid for Farmland's Meat Business
(DBN Subscription Required)

_____________________

Head of Bankrupt West Virginian Behavioral Health Center Meets with Creditors
(DBN Subscription Required)

Investor in State Title suing Hovis-Hunter for escrow funds
(DBN Subscription Required)

Comdisco Chapter 11 plan draws fire from SEC
(DBN Subscription Required)

Obtaining a Mortgage after Bankruptcy
(DBN Subscription Required)

Creditors say Malden Mills owner is mere figurehead
(DBN Subscription Required)

Change rules on asbestos lawsuits
(DBN Subscription Required)

Jackson County, Ore., Aims to Freeze Assets of Worker Compensation Claim Firm With Involuntary Bankruptcy Filing
(DBN Subscription Required)

Japan:

Hanae Mori files for court protection from creditors
(DBN Subscription Required)

Japan Unemployment Rate Steady as Job Seekers Give Up
(DBN Subscription Required)

Signs of hope for better Japanese economy
(DBN Subscription Required)

Moody's Cuts Japan's Rating And Cites High Public Debt
(WSJ: separate paid subscription required)

_______________________

Germany:

German Carmaker Goes Bankrupt
(DBN Subscription Required)

______________________

Argentina:

Argentina scraps key economic law
(DBN Subscription Required)

________________________

Scotland:

Cool response to ministers' plans, but bankruptcy reform welcomed
(DBN Subscription Required)

_______________________



Please note that the Daily Bankruptcy News is primarily a news link gathering service. This means that most of the headlines contained in the publication are a collection of links to stories posted on the Internet by various third party publications.  Such content is owned by third party sources, not the Daily Bankruptcy News, and in some cases, these links change or expire, which means you may not be able to view some news stories in prior editions of the Daily Bankruptcy News.

If you received the Daily Bankruptcy News via email, to view a news story, click on the headline, and the story should open in your web browser. To view additional stories, click back to the email and click on additional headlines, which will cause new stories to open in your web browser.  You can view the Daily Bankruptcy News on the web by clicking here, or by going to BKINFORMATION.COM and clicking on the Bankruptcy News button.  Note that the Daily Bankruptcy News is distributed via "HTML email" in which the links to the news stories are embedded in the headlines.  The email you receive should look like a 3-column newspaper, with headlines for each story. If you receive the Daily Bankruptcy News by email and the copy you receive is not formatted like a 3-column newspaper, or does not seem to contain links to the news stories, you may have an email client that is not capable of receiving HTML email, or is not configured to display such email.  You can however, receive a daily email notifying you when the Daily Bankruptcy News is updated on the web site. If you would like to receive such an email, please let us know at admin@bkinformation.com  

Advertising
Advertising is available in the Daily Bankruptcy News in a variety of places, formats and prices. Go to http://bkinformation.com/DBN_ADs.htm  for a list of choices.  Feel free to contact us with any questions.

Passwords
Access to certain links in the Daily Bankruptcy News is available only to readers holding a paid subscription.  These links are currently marked with a "DBN Subscription Required" notation. The cost of a subscription is $3
9/year, payable annually.  Volume discounts are available for sites with multiple users.  Complimentary subscriptions are available for full-time  educational and governmental employees. For information about discounts or educational/governmental subscriptions, contact us at admin@bkinformation.com. A separate password is required for each member of a firm wishing access to restricted links. New readers can receive a free password good for 30 days by going to http://bkinformation.com/RegistrationForm.cfm. Readers who wish to change their passwords should go to http://bkinformation.com/ChangePasswordForm.cfm. Readers who have forgotten their password should go to http://bkinformation.com/GetPassword.cfm

Adding Your Email Address To The Distribution List
If you would like to start receiving the Daily Bankruptcy News by email each day, go to http://bkinformation.com/SubscribeDBNForm.cfm  and fill in the information requested.  There is no charge to be placed on the distribution list to receive the headlines, although access to many of the links behind the headlines requires a paid subscription (see above, under Passwords). If, after adding your email address to the distribution list, you do not receive an email confirming the addition, please contact us at admin@bkinformation.com for help.  

Removing Your Email Address From The Distribution List
If you already receive Daily Bankruptcy News by email and you wish to remove your email address from the distribution list, click here and send the email that should appear.  Note that the email must be sent from the same email address at which you are receiving the Daily Bankruptcy News. You do not need to type anything in the body of the email message.   If you do not receive an email confirming deletion of your email address from the distribution list  for the publication, contact us at admin@bkinformation.com for help.

Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C.  You can reach us at 281-242-6208 or at admin@bkinformation.com