November 7, 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

         
Peregrine's Remedy sale delayed
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Kmart:

Kmart subpoenas employees in investigation
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Martha Stewart, Kmart bank on new holiday collection sales
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Kmart Probes Travel, Expense Records
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Homes.com pulls out of the grave
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Judge Says Wants Financial Projections For Budget Group Sale
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Economy:

Fed's rate slash reflects fear economy may be near danger zone
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Rate cut no balm for debt-laden consumers
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The Worry Beneath Greenspan's Words
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Corporate Reform:

SEC Issues Attorney Disclosure Rules
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Lawyers Prepare for Fight Over New SEC Rules
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SEC unveils new powers; foreign lawyers hit
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Degree difficulties
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General Electric strengthens oversight
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12 Wall St giants pressured analysts to promote clients
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NYSE isn't sparing rod
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Morgan Stanley sued by one of its own
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Top US banks may face rating cuts next year
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Consolidated Freightways Marks Time until Liquidation Sale
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Accounting:

Pitt's exit raises questions
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Wanted at the SEC: A Reformer's Passion
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The 2002 CFO Compensation Survey
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Firms warned not to pad bills
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Adelphia suit claims misdeeds by ex-auditor Deloitte
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'Illegal' claim hits share option rule
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Ormerod is Personality of the Year
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Adelphia sues former auditor Deloitte & Touche
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British Accountants Seek Exemptions From Sarbanes-Oxley
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Moody's cuts $3.35 bln National Century notes
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Steel:

Calumet Steel Goes to Auction
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Hometown Buyers Take Hold of Bankrupt Historic Tacoma, Wash., Foundry Firm
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Steelworkers union indicates support for ISG-Bethlehem deal
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High-profile farm sending cows to auction
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Lodgian Set To Emerge From Bankruptcy As Court OKs Plan
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Commercial Real Estate in a Slump
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HQ Global seeks more time to file reorg plan
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ZymeTx files for bankruptcy
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Oread Auction to Kick Start Life Sciences Project in Lawrence, Kan.
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Bankrupt CD Warehouse closing 23 stores
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  DIP Dimensions: Clark Retail Enterprises Inc.
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Home bankruptcies jump 8 percent - Connection between huge mortgages, personal bankruptcies
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Airlines:

Endgame in sight for UAL?
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Panel Delays Consideration of Federal Loan Guarantee for United Parent
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Bankrupt National Airlines Folds
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National Air Closes, No Refunds, Claims ATSB Picking 'Winners And Losers'
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Lufthansa may offer aid to UAL
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US Airways says objections to new DIP loan resolved
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Belgian Airline Declared Bankrupt
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American Airlines to cut flights, customer perks in a bid to cut costs
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United Pilots' Master Executive Council Urges State Street Bank & Trust Company To Stop Selling and Begin Buying Back UAL's ESOP Company Stock
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Airline Stocks Jump Amid Optimism United Won't File for Bankruptcy
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United faces increasingly unfriendly skies
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Good times can't go on
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American Airlines Appeals To Employees For $4b In Cuts
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Bankruptcy Reform:

President is handed the keys to drive home his agenda, including bankruptcy reform
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Congress' New Agenda - Power shift to GOP could revive conservative issues
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Enron:

Fastow pleads not guilty
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JP Morgan Loses Bid For Ruling In Enron Bond Case
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Hopeful signs for Enron India
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Ex-Enron CFO pleads innocent to fraud charges
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Energy:

U.S. utilities face tough debt refinance path
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RWE's Innogy Seeks Order to Force TXU Into Bankruptcy To Recover Cash
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Seismic setback hits research companies
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Bush Seeking Strong SEC Leader
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Cargill to Buy Farmland Hydro
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Telecoms:

Is Bankruptcy An Option For Your Service Provider?
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SpectraSite readies prepack
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SpectraSite Holdings to File for Bankruptcy
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SpectraSite reaches agreement with bondholders on recapitalization
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AT&T's Velocita bid approved
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More Restatements Ahead For WorldCom, Examiner Says
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WorldCom's ex-CFO wants trial moved to Washington
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WorldCom Gets Veterans Affairs Deal
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New SEC charges may delay WorldCom settlement
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Ruling expected on Thursday in Qwest asset freeze suit
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Supra ordered to pay $7.5M a month
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New Bankruptcy Opinions
(No new opinions 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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Letter from Delaware: Bankruptcy ward
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Asbestos:

Shares in firms facing asbestos suits rise on election
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Health-care, legal crises generated by illnesses from asbestos
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High court asked to limit scope of asbestos cases
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Armstrong OKs Shares in New Co.
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Law Firms:

A Baptism by Fire: Overhauling Desktops
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A Reunion at Jenner
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Clifford Chance: From global leader to Wall Street lashed
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Stoel Rives cuts staff
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Top lawyers: ‘padding is rife’
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UK Associates Rank Their Firms
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London associates blighted by stress
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Salans NY finance head joins Lovells
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A&O stung in US firms’ dual partner raid
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Shearmans snaps up Norton Rose star
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US firms eye Manchester legal market
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Lovells unveils revamped management
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Cendant cleared to take over Budget NZ
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Australia:

New Insolvencies
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England:

Telewest sells 17% stake in SMG
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Insolvency and debt threat turn up heat on businesses
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You'd better believe it - I'm not bust
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NTL near bankruptcy exit
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Japan:

High-profile ex-lawyer held for embezzlement
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Overseas jobless rates 'intolerable' because Japanese tend to react "emotionally"
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Opponents of Japan bank reform turn to patriotism
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Germany:

MobilCom's Schmid denies 1/3rd of stake transferred to wife
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Canada:

Basis100 capital markets subsidiary EFA files for bankruptcy protection
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Local bankruptcy pattern flip flops in September
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Mexico:

Ailing Iusacell hires advisers
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