November 6, 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

         

Airlines:

Frontier, Aloha win bailout loans
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Investment Groups Wait in Wings As United Turns to German Bank
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US Air, Worldspan Dispute Continues
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UAL and KFW reach agreement on debt
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UAL restructures debt, staves off bankruptcy
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United gets breathing room on financing
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Two airlines get conditional OK for government loans
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Kitty Hawk names new CEO
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Home-Lending Boom Leads To Higher Bankruptcy Levels
(WSJ: separate paid subscription required)

Judge Approves Financing Deal for International Paper Box Machine Co.
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Banking bonuses 'set to halve'
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Enron:

Former Enron Exec Faces Arraignment
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Ex-Enron CFO Fastow To Plead Innocent To Criminal Charges
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Verifying That Your Claim Was Filed With The Bankruptcy Court
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Law Firms:

A Sobering Summer - This year's summer associates worked harder than ever -- but they didn't dare complain
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2002 Summer Associates Survey
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Firm "Nervous" After Letting Client Draw Its Own Conclusions
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Another NY Firm Raids Magic Circle Rival
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Litigation Keeps Firm's Associates Busy
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Bqankrupt Encompass Services to Sell Electrical Contractor perations In Toledo, Cleveland and Dayton?
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Workers of bankrupt firm paid off in combs
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Equity funds fail to stop big outflows
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USGA bids big for bankrupt Russian Tea Room
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SEC's Inquiry of 'Laddering' Marks Goldman, J.P. Morgan
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Wall Street's Research Fines To Be Based on Merrill Deal
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Carbide Industries LLC Announces Purchase Of Carbide Products Business Unit From The Carbide/Graphite Group, Inc.
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Asbestos:

Armstrong files reorg plan
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ABB's asbestos liabilities may top $5bn, say lawyers
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Armstrong Plan No Surprise
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Minolta buys assests of bankrupt OBM
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Troubles Pile Up for Atlanta-Area Paper Mill Facing Involuntary
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DOL Issues Interim Final Rules Relating to Notice of 401(k) "Blackout Periods" Under Sarbanes Oxley
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  Telecoms:

Supra ordered to pay $7.5M
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SEC Case Against WorldCom Grows
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WorldCom loans could haunt Ebbers
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Ebbers was in charge
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WorldCom examiner says more restatements possible
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Fraud Total Is More Like $9B, WorldCom Admits
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Ebbers in the spotlight over WorldCom loans
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WorldCom Spells New Approach M-C-I
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Alumni Groups Feel Pinch From WorldCom Troubles
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Washington state sues Bank of America over WorldCom bond loss
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Report slams culture at WorldCom
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Qwest shareholders file motion to stop QwestDex sale
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Qwest Could Be Forced Into Bankruptcy If Directory Sale Proceeds Blocked BY Judge
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Qwest derides move to block sale of directory unit
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Oresis Communications files Chapter 7 bankruptcy
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Bargain Hunting in the Telecom Bin
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Bankruptcy Reform:

Republicans Gain Control Of Both Houses of Congress
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Despite Big Money Bankruptcy Reform Questions, Moran Ahead by a Wide Margin
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Democrat Takes Key GOP House Seat From Main Sponsor of Reform Bill
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State asks bankruptcy court to allow revocation of Birchtree Healthcare license
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Economy:

Federal Reserve Expected to Pare Interest Rates
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Energy:

Energy Firms Fixed Supplies, Nevada Lawsuit Alleges
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Wichita's G2interactive files for Chapter 11
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SEC, U.S. Atty. probing Vivendi
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Adelphia Cuts Full-Year Estimate
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Aliquippa hospital interim CEO resigns, board is replaced
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Ha-Lo Seeks Damages From Parties In Starbelly Deal
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S&S Power to Buy Bankrupt Roller Coaster Maker's Assets - Arrow Dynamics Inc.'s roller coaster ride through Bankruptcy Court is about at an end
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Colorado Financial Adviser Explains His Firm's Collapse to Creditors
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Corporate Reform:

Insider Loans: Everyone Was Doing It
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New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Jobs - 251 Jobs - Last updated November 4, 2002
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Steel:

Ross' ISG considers BethSteel
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ISG deciding whether to bid for Beth Steel
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Bethlehem Steel in sale talks with International Steel
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National Steel Gets Second Extension to Chart Path Out of Bankruptcy
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Bethlehem Makes Progress Toward a New Labor Agreement Essential to Emerging from Bankruptcy Protection
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Accounting:

SEC Chairman Harvey Pitt Resigns Under Pressure
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Will Webster Be Next?
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Snyder, Slutkin seeking $2B for feds in E&Y lawsuit
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New accounting rules sow confusion about oil earnings
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MergerTalk-Wary Buyers Keep Accountants Close
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U.S. Tech auditors: Webster is wrong
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Kmart:

Martha Stewart meets with Kmart officials in Detroit
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Filing reveals Kmart expenses
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Kmart examines its employees travel and expense records
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Denver Aquarium to Unveil Plan to Repay Bond Debt
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England:

Top Soccer Clubs to Discuss Financial Fears
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Rise in Bankruptcies May Not be a Negative Indicator
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Company insolvencies continue to rise in October
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R3 raises concerns over Enterprise Bill postponement
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Australia:

New Insolvencies
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Korea:

New Korean bankruptcy law to protect creditors
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Japan:

Japan's Need to Accept Failure
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Japan's Koizumi Defends Loan Plan
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Koizumi Says Banks' Bad Loans Will Further Delay a Recovery
(WSJ: separate paid subscription required)

Japan's long, perilous road to banking reform
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