November 12, 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

         
National Century:

TLC files for Chapter 11
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JP Morgan and Bank One to face $1bn National Century suit
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Med Diversified set to file $1b suit against financial associates
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Med Diversified Unit Files For Bankruptcy Court Protection
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National Century cuts 111 workers
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National Century's woes prompt bond fears
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Law Firms:

Akin Gump Lays Off Associates
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Dangerous Liaisons - An overseas posting raises safety concerns. Consultants offer no shortage of advice to keep lawyers out of kidnappers' hands
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Subpoenaing Its Own Client Earns Pepper Hamilton an Earful
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Three More Defect From Pillsbury Winthrop
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Cooley Staff, Lawyers Wonder if More Cuts Are Coming
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Litigation Keeps Fenwick Associates Busy
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Lawyer Suspended Over Footnote
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Duane Morris Branches Out to Medical Publications
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Ashursts, Fried Frank: the final countdown
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Tipped A&O election runner goes to New York
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Hammonds set for massive profit drive
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Two IP partners set to quit Linklaters
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Telecoms:

Networking buyers await bankruptcies
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Baby Bells Fear Price War with Telecom Companies Emerging from Bankruptcy
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HP president quits, may lead WorldCom
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Capellas gets millions from HP
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WorldCom may be Capellas' toughest role
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WorldCom Followers Hear Bells in Capellas Talk
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Michael Capellas May Sell WorldCom After Bankruptcy Ends, Investors Say
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A WorldCom Candidate, but No Telecom Résumé
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Money-losing Digex weighs seeking buyer
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Former WorldCom Finance Chief May Strike Deal on Accounting-Fraud Charges
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Worldcom Board Trying To Cover Ebbers' Assets
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WorldCom Issues September 2002 Operating Results
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Former WorldCom chief Ebbers may cede pension for personal loan payment
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Telecom: Worse than you thought
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Level 3 Remains on the Prowl for Acquisitions
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Wall Street Banks Spend Own Cash to Beat Bears
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Union Acceptance Announces Transition to OTC Bulletin Board
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How Sandy Weill Plans to Get Citigroup Back On Track
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Ailing Verticalnet seeking a buyer, considering bankruptcy, liquidation
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Repairmans Liens
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Bankruptcy Specialist Cary Stanford Joins Saybrook Capital as Managing Director
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Economy:

Dealmaking will be casualty of war
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  Carlyle plays lease hardball
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Kmart:

Kmart Sends Subpoenas to 5 Ex-Execs
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Kmart might get $6.5M tax refund
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Making a Case Against Martha
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The weird ways in which firms avoid bills
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Airlines:

UAL stock rises on flight attendant accord
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United faces deadline in next 21 days
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Are UAL Optimists Building Castles in the Air?
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Analyst warns UAL bankruptcy 'likely'
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Allied Pilots Association Leadership Meets With AMR Executives in Effort to Identify Solutions to Current Challenges
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United, Board to Meet on Loan Guarantee
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Borden Chemicals Files Amended Disclosure Statement
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Enron:

Enron removes 'tilted-E' signs from outside headquarters
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Portland may bid for PGE
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Jurisdiction Issues Delayed Regulatory Action on Enron
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Report raps FERC over Enron schemes
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Barter Club Files for Ch. 11 Bankruptcy
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Bankruptcy Reform:

Democrats still on top in Senate: Fill-in makes his declaration of independence
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Why second-hand hardware is a growth market
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Elliott Electric agrees to buy Warren Electric
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Adelphia:

Adelphia in Talks to Hire Management Team
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Adelphia Offers AT&T Broadband's Schleyer Top Job
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Northland Files Suit Vs. Ocean Spray
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Corporate Reform:

CEO pay rose as markets fell
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Above-it-all CEOs forget workers
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Snakes in suits and how to spot them
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Banks may face pressure on research reforms - Unhappy with slow progress, Spitzer may set a deadline
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Accounting:

H&R Block to seek appeal of Texas judge's fiduciary duty ruling
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New accounting oversight board to hold first meeting in private
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Former Arthur Andersen Employees Find Varying Degrees of Success in Job Hunt
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Audit Failures Not The Major Reason For Corporate Collapses
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FASB review could spur sale-leaseback surge: Possible demise of synthetic leases likely to boost alternative financing vehicles
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Accounting PACs Riding Wave of GOP Victory
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Bush in no rush to name new SEC chief
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Webster Will Likely Quit As Oversight-Board Head
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Corporate scandals draw reform-minded accounting students
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The new cost of compensation: Expensing huge exec option packages will fall with a depressing thud on some bottom lines
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Jobs - 247 Jobs - Last Updated November 11, 2002
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Energy:

State wins settlement over soaring power prices
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Calif Renegotiates Williams Cos. Deal
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Reliant among firms to receive subpoena
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Duke, Williams Slide as California Probe Deepens
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A Big Victory by California in Energy Case
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AES tumbles on subpoena, warning
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AES trying to stave off bankruptcy
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Credit Markets: Truck-School Loans Get Lost as Royal Indemnity Files Suit
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Sunbeam's Chief Tells How He Kept Afloat Amid Crisis
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Genuity gets extension from lenders
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Utah bankruptcies set another record
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Restaurants Struggle in Aftermath of Phar-Mor Bankruptcy
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Reorganization To Boost Armstrong World Asbestos Exposure
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One Equity Partners LLC Names Jacques Nasser Senior Partner, Chairman Of Polaroid
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Soccer crisis grows at clubs in South America
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Enchira Biotech Seeks Holder Approval To Liquidate Company
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Steel:

LTV can sell tubular unit to Maverick Tube
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Bankrupt National Steel Corp. Turns Small Profit in Third Quarter
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Australia:

New Insolvencies
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Brazil:

Intelig shareholders threaten bankruptcy
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Germany:

German Agency Opens Insider Trading Investigation at Telecom
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Deutsche Telekom in 30b euro writedown?
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Japan:

Koizumi defends intervention
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Overhaul of Japan's Bank Debt Crisis, Take 2
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New Zealand:

Limited liability vital for business
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Mexico:

AHMSA to restart talks with creditors
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England:

New small company rescue procedure will have limited impact
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Bankruptcy change 'open to abuse'
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Ernst & Young complete sale of certain assets of Daewoo Cars Limited
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Sweden:

Setterwalls hires top partners for insolvency launch
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