November 14, 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

         
Telecoms:

360networks restructures, exits Chapter 11
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Grubman: E-Mails Were Empty Boasts
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Grubman's Bad Year Gets Worse with E-Mail
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Candidate Meets WorldCom Creditors
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SEC, WorldCom Officials Near Settlement
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WorldCom/Pact: GSA Cites Criminal Evidence Versus Executives
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Government Extends WorldCom Contract
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New WorldCom CEO to face long list of challenges
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WorldCom Lands Government Deal, Announces Layoffs
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Telecoms: Out go the jobs -- service too?
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Metromedia Fiber sells unit for $41M
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GT Group Telecom Granted Further Extension to U.S. Court Protection
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Integrated Telecom landlord fights Ch 11 disclosure
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XO bankruptcy hearing set
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Cable & Wireless cuts 3,500 jobs
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Managing to stay afloat: Casino owner in business despite many $$ questions
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Judge approves $87.5 million sale of Logan hospital assets
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Auction set for 16 Ames stores
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Horizon Natural Resources Company Files for Chapter 11
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Steel:

Once-bankrupt steel mills turn corner, show profit
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Surprise: Bankrupt LTV's new owner issues profit-sharing checks
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Steelmakers Seeking Contract Hikes
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2,000 attend union rally for AK Steel employees
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Federal Maritime Commission proposes stronger protection for consumers caught in cruise-line bankruptcy cases
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Kmart:

Kmart seeks court approval of union deal
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XeTel Can't File 2nd Quarter Results On Time; Cites Chpt 11 Case
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Sears:

Sears Stock Tumbles on Downgrade
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Cash flow in red again for Sears
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Suit: Web of fraud sank Stockwalk
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State seeks permission from bankruptcy court to cancel contract with Medicaid transit company
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Adaptec purchasing assets of Tricord Systems
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Private equity firms are flush with cash. Having worked through some of their problems, they're turning their attention to buyouts
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Advanced Tissue Sciences to Liquidate Assets
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Enron:

US FERC judge seeks Enron trading strategies
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  Letter from Delaware: Keeping the lines open
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Bankruptcies: Investors Do Have a Hope
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Bankruptcy Reform:

IMF wants to push 'temporary bankruptcy' plan to offset global crises
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US House Sets Votes On Terror Insur, Bankruptcy Bills
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United Artists lenders file suit
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Energy:

PG&E profit falls 40%; division to default on debt
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PG&E Third-Quarter Profit Falls 40 Percent on Bankruptcy, Borrowing Costs
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Moody's cuts PG&E National Energy Group
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PG&E bids to spin off its generating assets
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Energy companies' varied fates
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TXU Fights Innogy Bankruptcy Petition
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UK Court Hears TXU Petition To Throw Out Innogy Suit
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U.S. FERC says has 50 energy probes under way
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Warnaco's reorganization plan approved
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Fall of big firms proof of market efficiency
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Airlines:

United Flight Attendants OK Pay Cut
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CEO Says United Faces Uncertain Future without Federal Loan Guarantee
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Government Loan Board Seeks More Data from United Airlines
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Daley wants United bailout
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United Chief Declares Dec. 2 as Bankruptcy Deadline
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US Air Seeks More Labor Savings, Raising Concerns About United
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KC watches Vanguard
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Former Adelphia VP reportedly will plead guilty to fraud charges
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Sterling Chemicals to Sell Pulp Chemicals Division
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HSBC to Buy Household For $14.24 Billion in Stock
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Synergy Technologies Corporation Plans Reorganization
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Denver: Judge denies Hoover bankruptcy request
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Firm Set to Handle Disposition of Convenience Store Outlets in Florida
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Citigroup allegations continue
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520 convenience stores up for sale
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Credit Counseling Firm Files for Bankruptcy
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RailWorks Corporation Emerges from Bankruptcy as Private Company
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Auction Buyers Pick Up Consolidated Freightways Properties
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In Store Media files for bankruptcy
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Bankrupt Or Hurting? These Guys Can Help
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Reeds Spring expects to rebound from bankruptcy
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Nine bidders vie for Desa
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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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The outsider within - The visiting judge
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DIP Dimensions: Agway Corp.
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Judge OKs Agway units sale
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Trustee Seeks Broader Powers to Reclaim Money from California Investment Scam
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Accounting:

Lawsuit, Shmawsuit
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Former Arthur Andersen Partner Recalls Meltdown at University of Tulsa Speech
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SEC Launches Informal Inquiry into Fleming's Vendor Trade Practices
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Creditor Objects To Panaco Exclusivity Extension Request
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Asbestos:

Honeywell warning on asbestos claims
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Hanson shares fall on asbestos despite soothing words
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Univar seeks talks with McKesson on asbestos claims
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Viskase Companies, Inc. Announces Expiration of Exchange Offer And Filing of Voluntary Prepackaged Bankruptcy Petition
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Kasper Gets Court OK For New Loan; Amends Ch 11 Plan
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Canada:

Local trustee firm first in Canada to electronically file bankruptcy documents
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Australia:

New Insolvencies
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Japan:

'Walking dead' will drive Japanese bank into state hands
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Business chief warns of Japanese banks' frailty
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Japan poised to nationalise bank
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British paper spreads panic in Tokyo share market
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Economy grows, but gloom stays
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Japanese export engine sputters, recession looms: Economists
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Germany:

EU Opens Probe of 5 German Banks
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England:

UK jobless total rises
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Hong Kong:

Where Have Hong Kong's Entrepreneurs Gone
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Scotland:

New debt law backed by MSPs
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