November 27, 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

         
Kmart:

Kmart wins nod for new D&O insurance
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Bank Profits Up 34.8 Percent
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Bank Write-Offs of Credit Card Debt Soar
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NOLs - Saved by the bankruptcy exception
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Law Firms:

New York Law Firm Curtis Mallet to Settle Suits that Tie It to Inverworld Wrongdoing
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Bush to Seek Legal-Cost Cap With Terror-Insurance Law
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Court Scraps Settlement, Doesn't Like Fee Agreement
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Stinson Morrison Hecker cited by National Law Journal
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Telecoms:

Focal gets reprieve from WorldCom
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WorldCom, SEC Get Ruling From Judge
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WorldCom on Track After Partial Settlement
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Judge Approves Insurance Settlement Between WorldCom and AIG Unit
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WorldCom partly settles fraud charges with SEC
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Qwest bondholders to challenge debt offer
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Genuity to File Bankruptcy, Sell Assets to Level 3
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Global Crossing examiner appointed
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Shareholders of Williams Communications Object to Administrator Appointment
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WorldCom Agrees to Continuing Oversight
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Qwest amends terms on $2 billion credit pact
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WorldCom settlement includes fine, ethics training for executives
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WorldCom fights challenges all around
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Level 3 in talks to buy Genuity
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Capellas: No WorldCom Sell-Off
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AT&T Latin America hires restructuring adviser
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Britney Dumps Half-Baked, Possibly Bankrupt Nyla
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Energy:

PG&E National Energy Group Gets Limited Funding
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El Paso's Rating Is Slashed By Moody's to Junk Status
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Liquidity Worries Drain El Paso
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PG&E's Request to Scrap Rival Reorganization Plan Denied
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Calif Utils Ask CPUC To Rehear '03 Procurement Decision
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FTI Consulting Defers Commencement of Equity Offering
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Kaiser to sell forging plant
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Roxio buyout could revive Napster
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Sunbeam:

Sunbeam to emerge from bankruptcy
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Judge Approves Sunbeam's Bankruptcy Plan
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Collegiate Pacific pursues Bike Athletic
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Moto Photo seeks a sale
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Steel:

New Legislation May Aid Steel Retirees and Help Companies Exit Ch. 11
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Acme Packaging Emerges from Bankruptcy
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  Judge orders mediation for Owens-Corning
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Airlines:

Powerful Allies Lobbying Hard for United Aid
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Pressure Mounts for United Airlines Loan Guarantee
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Debt payment looms for UAL
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UAL Stock Sale May Impact United Airlines Machinists' Vote on Wage Concessions
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United Talks of Total Savings as It Pushes for Federal Help
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WorldCom, UAL Receive Approval to End Partnership
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US Airways' Holiday Message: You're Fired
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United details restructuring plan
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US Airways Cuts 2,500 Jobs
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US Airways Flight Attendants Comment On Management Announcement
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Machinists union votes on concessions
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Packed Planes During Holiday Week Mask Airline Woes
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Latest US Airways layoffs not so bad for region
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United parent's plan sees $14B cuts, improvements
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UAL Says Deadline is Dec. 31 to Close Financing, Get Labor Cutbacks Approved
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Gate Gourmet proves tough to swallow
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US Air Makes Deeper Cuts, Seeks Federal Aid Needed to Exit Chapter 11
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Dairy Mart files plan to liquidate remaining assets
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Adelphia:

Court weighs Adelphia asset freeze
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Court Accepts Adelphia Request to Freeze Rigas Family Assets
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Adelphia Communications Reports $104.6 Million Net Loss For October
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Planet Hollywood linked to Aladdin
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Asbestos:

Asbestos Concerns Hit Car Parts Retailers
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Cold Metal Hires Investment Banking Firm To Pursue Chapter 11 Exit
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Triarc:

Triarc orders up Arby's outlets
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Bankruptcy Court Approves Triarc Purchase
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Goldman questioned on U.K. 'spinning'
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Oakwood Homes Wins Interim OK Of $25 Million Credit Agreement
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Corporate Reform:

US Rep To Seek Payments For Corporate-Abuse Victims
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Quattrone E-Mails Link CSFB Research, Banking
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Hospital seeks bankruptcy - Granada Hills board aims to reorganize
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Court Ruling Buys Time For D.C. Health Network
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Gov. Bush is linked to National Century
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Doctors at bankrupt hospital unpaid after 3 months
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Tillotson to sell its assets, stay afloat
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Court OKs PSC motions on debt restructuring
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Accounting:

BFA investors close to cash settlement
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New Bankruptcy Opinions
(No new opinions today)

Bankruptcy Jobs - 265 Jobs - Last Updated November 25, 2002
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Enron:

Energy trader's collapse leaves long trail of bitter and sweet memories
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Judge Denies Enron's Bid To Bar Dynegy Asset Transfer
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Enron sees late Jan. decision on utility sale
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No Accounting for Logic: Enron Lives as Penny Stock
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Report says Enron not behind blackouts
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Bankruptcy up; reasons abound
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Personal Bankruptcy Filings Rise; Some Say Increase Proves Need for Reform
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Weiss Ratings: Bankruptcies down this year
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Colorado's bankruptcy filing record surpassed
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Swifty Serve: Let the bidding begin
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Durango-Georgia Paychecks OK'd; amount unknown
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Federal Regulators, Nebraska Officials Oversee Crop Insurer's Operations
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Court Grants Bankruptcy Dismissal for Adventure Aviation
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England:

Restructuring Delayed at British Cable Company Telewest
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Japan:

Income and job fears weigh on Japan retail sales
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Japan's Hayata Group Bankrupt
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Japanese life insurers slip closer to danger zone
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Lone Star takes on First Credit
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Brazil:

Despite protests, Embratel may be carved up
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Brazil's Government Scrambling To Solve Airline Varig's Crisis
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Group Lowers Debt Rating for Varig
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Germany:

Das Werk broadens bankruptcy
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Thailand:

People power pushes for bankruptcy law amendment
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Mexico:

AHMSA hands in debt plan
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Korea:

Bail-out call to Hynix creditors
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Middle East:

Strengthening the corporate governance of firms in the Arab world
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China:

Bad loans dim China's rising star
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