November 13, 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

         
Bankruptcy Reform:

Homeland Security, Bankruptcy Bills May Pass in Days
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US terror insurance, bankruptcy bill chances fade
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How GOP control will impact wallets
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Wellstone spokesman: "Now, even with difficult times that will force more people into this situation, I'm sure the bill is going to pass"
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ISDA, Key Financial Trade Associations Press U.S. Congress for Passage of Netting Provisions
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Adelphia Job Offer to Schleyer Favors Cable-TV Experience, Investors Say
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Morgan Stanley to Ax Hundreds of Investment Banker Workers
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Tampa: Bankruptcy attorney dies after hunting accident
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Airlines:

Airlines See Cloudy Skies Ahead, Says Continental Chief Bethune
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Vanguard CEO: Airline close to securing investor
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Harrah's says National Airlines closure cost it millions
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UAL Board OKs Pilots, Attendants Deals
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United Airlines Turns Attention to Loan Guarantee, Ground-Worker Pay Cuts
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Law Firms:

Fried Frank to Merge With UK Firm If Compensation Can Be Settled
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Firm Moves Into New Offices in NY and LA
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Insurer Denies Firm Coverage for Lost Billable Hours
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KLegal defers trainees again and slashes pay-off
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Accounting:

Webster quits audit oversight panel
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Retired Partner at Andersen Sues Three Rival Firms
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European bank sues Deloitte over Telescene audit
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Former Andersen chief dismayed by Big Four's attitude
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Finance job salaries to remain level in 2003
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Tighter reins
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Judge Tells Ex-Cendant Accountant to Testify
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CEO Attestation of Corporate Tax Returns on Deck
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Accounting Board to Meet Amid Disarray
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Distressed Debt Investing Forum to Address the Next Wave of Bankruptcies, Including Real Estate, Energy, Telecom, Hospitality, Technology and Retail
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Napster:

Napster trustee seeks OK for auction rules
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Napster Trustee Seeks Approval of Bid Rules for Proposed Sale
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Personnel Group of America Announces Comprehensive Financial Restructuring
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Asbestos:

Vulture Fund's Threat to Sue Lloyd's Names over Asbestos Arouses Anger
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Slip and fall case drives town into bankruptcy
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Lindenwood Capital Partners To Provide Financing Solutions To Companies Facing Difficult Banking Relationships
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Steel:

International Steel Group Rescues Another Project
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Cash-Short Employers Can't Pay Workers
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Bankrupt Houston-Based Electric Firm Sells Off Assets
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Assisted Living Concepts reports third-quarter loss
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Telecoms:

CEO Wanted: No Experience Necessary
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WorldCom Bonds Rise on New CEO Speculation; Bond Spreads Widen
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WorldCom sets sights on Capellas
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WorldCom’s Sullivan nears plea deal
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WorldCom's Roberts to Cede Post, Giving Capellas Shot at Top 2 Jobs
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Bernie Ebbers' Foolish Faith
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Digex cuts losses despite WorldCom IOUs
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Ebbers linked to over $4M in farm subsidies
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AFL-CIO befriends WorldCom jobless
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Former Equifax chairman named to WorldCom committee
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WorldCom to lay off 390 employees
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WorldCom Plans to Refocus Asian Operations, Will Cut Jobs
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Digex pares its losses while revenue declines
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WorldCom Makes Insurance Settlement
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Telcos must grasp new business models, execs say
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Don't prop up phone firms; let them fail
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IDC predicts telecom rebound in 2003
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Grubman Boast: AT&T Rating Had Altogether Different Goal
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Lawsuit blames AT&T for At Home's fall
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AT&T Sued By Excite@home Shareholders Over Assets
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360networks arises from ashes
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360networks out of protection
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Struggling telecoms face increases in D&O premiums
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Who wrecked telecom? Critics blame the fledglings. But the folks who did the most damage were veterans
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WROU-FM files for bankruptcy
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Energy:

California pursues energy deal
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Southern hit with subpoena
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Dynegy receives court order
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AES Corp. Sweetens Offer to Bondholders
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California Power Deal Gets $1.4 Billion Trim, Officials Say
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Union Acceptance Reorganization Plan Update Conference Call to be Held November 14
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Court Authorizes $2,973 A Month For Wilkinson Widow
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Enron:

Senate Panel: FERC Missed Enron Clues
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Enron tried to guide Bush on energy, documents show
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Steven Cooper: Advice for our shaky boards
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UBS: Ex-Enron trading market has crumpled
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Simon Ppty Records $8.6M Rev In 3Q From Enron Settlement
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Side Effects of Enron Debacle Continue to Cast Shadow over U.S. Energy Sector
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Big Brothers makes cuts as donations fall
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California Equipment Rental Company Rebel rents Files for Bankruptcy
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More Iowans Going Broke
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Procedural Complications Add to Bankrupt Las Vegas Casino's Woes
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Directors Group Suggests Ways To Look For Red Flags
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Ex-Ecusta workers gain more benefits
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Tulsa Philharmonic Faces Possible Bankruptcy
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New Bankruptcy Opinions
(1 new opinion 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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National Century:

Another Ch. 11 blamed on NCFE
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PhyAmerica Group seeks protection
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National Century Case May Cut Private Issuers' Funding Options
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TLC wins access to collateral
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Money ills hit medical empire
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National Century's Woes Claim 2nd Health Provider
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Med Diversified to sue National Century trustees
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Textile Technology Firm Fashion Technologies Files for Bankruptcy Protection
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Credit Derivatives Bail Out Banks But Soak Bondholders
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Denver: Hoover wants to combine bankruptcy filings
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Firm picked to sell Swifty Serve convenience stores
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USA Biomass:

USA Biomass resumes operations
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USA Biomass Plan of Reorganization Confirmed
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Exabyte warns of bankruptcy risk
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Executives Expect More Layoffs
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Economy's worst is over, experts say
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Kaiser:

Kaiser to emerge from bankruptcy
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Kaiser Aluminum - The Human Side
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D-Day Memorial:

Burrow's lawyer argues for dismissal
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Donation agreement jeopardized
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Papers: Burrow misled lawmaker over bankrupt D-Day memorial
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D-Day foundation's bankruptcy may hurt donor
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Australia:

Australia in £2bn bankruptcy suit
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New Insolvencies
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Canada:

Simpson Auto plan passed
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SmartSales Announces Appointment Of Trustee In Bankruptcy
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Japan:

Japan GDP Expands 0.7% in 3rd Qtr, More Than Expected
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Sagging exports threaten to derail Japan's recovery
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Japan Forced to Examine Homelessness
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Takefuji's Trial
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Germany:

Loss mounts at Commerz as bad loans take a toll
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The Haffa Brothers: From Boom to Bust
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England:

Tax adviser escapes damages claim for poor advice
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PwC hunts ugly surprises at Slug & Lettuce
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