November 1, 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

         
Enron:

Fastow indicted on 78 counts
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Enron Ex-CFO Andrew Fastow Is Indicted in Fraud Case
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Fastow Cooked
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Former Enron CFO Fastow indicted
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Indicting former Enron CFO Andrew Fastow signals the start of a period of lower-profile grunt work to bring in the even-bigger guys
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Statement of Enron Employment Related Issues Committee Regarding Indictment Against Former Enron Executive Andrew Fastow
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Enron mulls utilities sale
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Enron Can Stop Legal Aid for Former Workers
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Enron seeks deal with its creditors
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Enron May File Reorganization Plan
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Drained of Energy
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Sparks Fly as Indians Are Told To Pay Up for Stealing Power
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Highlands Insurance Group, Inc. Announces Bankruptcy Filing
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Peregrine:

BMC is sole bidder for Peregrine unit
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Accounting Firm's Role in Peregrine's Inquiry Is Opposed
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Bankruptcy isn’t the end-of-the-world.
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Laidlaw Inc. announces filing of motion to extend exclusivity period through February 2003
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Boeing Unit To Cut Up To 1,500 Jobs
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Boeing May Cut Work Force on Line
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Adelphia employees feeling bankruptcy
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IAL Aircraft - Suit casts pall over deceased tycoon's estate
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Corporate Reform:

Bush Sold Stock After Lawyers' Warning
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Rewriting the Rule Book at Citi
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Doubts Grow on Bush's Resolve for Business Reform
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California AG seeks authority over civil securities-fraud cases
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Cost to Wall Street to End Inquiry to Be Known Soon
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Union Acceptance Reports Reorganization Plans, Third Quarter 2002 Results
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Buxbaum Group Launches Revamped Corporate Website
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Steel:

J&L Structural Steel ruling on hold
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Why Future Beef Went Under
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Hard times ahead for petrol firms
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Despite Bad Loans, Downturn, Are Banks Poised for Growth?
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Developer's Salt Lake City Property Is Entered Into Bankruptcy
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Safety-Kleen completes sale
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Mars Music goes out of business
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Energy:

FERC sets conference on Kinder Morgan pipe credit
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Calif City Files Plan To Take Over SoCal Edison Pwr Lines
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Cigna Posts Huge Loss, Faces SEC Inquiry
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  Sealed Air Corporation Provides Update On Proceedings
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Hayes bondholders face setback
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GFinancial files for Ch. 11
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Airlines:

US Airways seeks OK to indemnify officers, directors
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US Airways seeks protection for execs
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National Airlines Mulls Grounding
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Failure Of Financing Deal May Ground National Airlines
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Conway looking for new funding for National
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Bankrupt National Airlines Hurt as Key Party Pulls Out of Reorganization
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US Airways layoffs, cutbacks could be costly
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City has huge stake in airline
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Cutting back but carrying on, United workers worry
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Kmart:

Kmart landlords wait, worry
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Earnings Fall 42% At Stewart's Firm
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More Kmart stores checking out?
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Telecoms:

AT&T wins Velocita's fiber
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BellSouth, Supra Telecom Meet in Bankruptcy Court in Miami
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Judge sets date for Supra case
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Sage Telecom rings up $30M
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Revival of a Local Phone 'Reseller'
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WilTel Names Jeffrey Storey New CEO
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Pruning the telecom deadwood
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Bankrupt General DataComm Misses Third Straight Monthly Profit
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Level 3 Nears Deal for Assets Of Languishing ISP Genuity
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ITC DeltaCom trades for first time since bankruptcy reorganization
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Accounting:

Pressure mounts on Pitt to quit as SEC chief
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Harvey Pitt has to go
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Chief's Past Hurts New Accounting Board
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Pitt at centre of storm over Webster
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SEC Accounting Board Probes Sought
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Ernst & Young Auditors Could Face SEC Charges
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Accountancy Watchdog Member Says Industry May Lose Tax Role
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Regulator demands companies reveal hidden debts
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SEC may bring accounting charges against Lucent
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Sydney Water kills billing deal with Pricewaterhouse Coopers
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Ventura County, Calif., Homeowners Dodge Bankruptcy With High Prices
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Weyerhaeuser faces $400 million bankruptcy suit from diaper business
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Daewoo's woes include disgruntled dealers and parts shortages
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Beliefnet rises from bankruptcy
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Trade group urges asbestos suits reform
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New Bankruptcy Opinions
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Bankruptcy Jobs - 239 Jobs - Last updated October 28, 2002
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Bankruptcy Judge Approves Loan for Nashua, N.H., Paper Box Machine Maker
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Union Promotes Farmland Industries Boycott
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State lawyers set sights on doctors who owned defunct medical group
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Law Firms:

Associates Face Tougher Climb to Partnership
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NY Firm Rescinds Summer Associate Offers, Claiming Hardship
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Ex-Pillsbury Partner Names Headhunter He Believes Advised Firm to Accuse Him
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Partners at Reed Smith and Crosby Heafey Approve Merger
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London confirms dominance in Clifford Chance elections
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Lovells set for management shake-up as governance review bites
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Asset Purchaser Ryan Beck Refuses To Take On Gruntal Customer Grievances
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Layoff roundup
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Humbug Marsh holder files for bankruptcy
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SATX, Inc. Announces First Amended Disclosure Statement Approval by Bankruptcy Court
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Shaw's plans to buy Ames leasing rights
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After bankruptcy judge lifts stay, Madster file-sharing service ordered to keep track of songs
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Acquisition pushes up earnings at FTI
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Germany:

MobilCom creditors offer fresh lifeline
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Disastrous third quarter puts Deutsche Bank into red
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Japan:

Short-term support: The prime minister undercuts his handpicked financial regulator over plans to write off bad debt.
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Last-ditch revival bid
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Japan softens plan to rid banks of $1 trillion in bad loans
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England:

UK company insolvencies fall in Q3
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DLA strikes for Deloittes at Leicester City
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Aviation Partners to be placed into liquidation
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RSA sued over asbestos claims
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Australia:

Washing away the smaller injury claims
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New Insolvencies
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New laws over auditors urged
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Canada:

Creditors Approve The Proposal Made To Them By Galaxy Under The Bankruptcy & Insolvency Act
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Mexico:

AHMSA says wins court case over shares
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Switzerland:

ABB Credit Rating Cut to Junk by Moody's After Losses
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